Liverpool coowner George Gillett keen to offload Montreal Canadiens to refinance deal

12 June 2009 06:18
The American is attempting to raise the funds to refinance the £350 million loan with banks RBS and Wachovia used to buy the Premier League club.

Media conglomerate Quebecor and the Molson family have both admitted an interest in buying the profitable franchise, as well as its Bell Arena home, for a price that could rise as high as £300million, allowing Gillett to secure both his position at Liverpool and the club's immediate financial future.

 Related Articles'Liverpool bid for Lavezzi'Red-faces around AnfieldBenitez: Mascherano is pricelessAgent: Mascherano fancies BarcaLiverpool 'have enough' for transfersRafael Benitez admits Liverpool are relying on Manchester United slip upsBoth Gillett and his business partner, Tom Hicks, have admitted in recent weeks they are looking for "minority" investors in their sporting empires and it is believed both are prepared to countenance selling their sport assets in the United States to maintain control of Liverpool.

Despite the club's holding company, Kop Football Ltd, posting a £42.6million loss in the year to July 2008, as revealed by accounts published last week, Hicks and Gillett are thought to be close to securing a six-month extension on the £350 million loan taken out last January.

It is believed any such deal would likely be dependent on both owners putting more of their own capital into the club.

The Liverpool manager, Rafael Benitez, is not likely to be handed a significant boost in the transfer market should Gillett sell the Canadiens, but the Spaniard is adamant he has "enough" money for the "one or two" signings he believes he needs without coming under any pressure to sell his squad's stars.


Source: Telegraph