Source: Liverpool_Echo
Liverpool FC chief Purslow: Club board is against any Tom Hicks refinance bid
Christian Purslow 300[LNB]LIVERPOOL managing director Christian Purslow insisted the club's board members will firmly resist any attempt by co-owner Tom Hicks to refinance the club's debts of £237m with Royal Bank of Scotland.[LNB]His comments came as part of a Q&A with Reds fans in which he also revealed:[LNB]Tom Hicks and George Gillett turned down an offer for LFC before Easter[LNB]That refusal to sell led to the board shake-up which brought in Martin Broughton as chairman[LNB] The club is 'a very healthy business' but can only 'just about' cope with the interest and bank charges on the owners' loans.[LNB]Reports have suggested Hicks is trying to raise cash to buy out the RBS debt ahead of next month's refinancing deadline to retain control at Anfield.[LNB]But asked if Hicks could refinance the debt against the club's assets, Purslow said: 'That would require Board approval and the other members of the Board have made it clear that's not what we want to see happen. It's very unlikely.[LNB]'Any occurrence of indebtedness by Liverpool Football Club needs full Board approval. The non-owner directors have made it clear that's not what we want to see happen.'[LNB]The non-owner directors are Purslow himself, commercial director Ian Ayre and chairman Martin Broughton, who can outvote Hicks and Gillett 3-2.[LNB]Purslow said he remains firmly committed to the sale of the club and believes Hicks and George Gillett are still keen to sell.[LNB]'I can't speak for the owners but I am absolutely sure that both of them are totally committed to trying to sell the club as soon as possible,' he said.[LNB]'They haven't had an offer yet that they like and so I suspect that both of them individually and collectively are pursuing their other alternatives and that's their prerogative.[LNB]'I want this club sold more than anybody in the world.'[LNB]Earlier this year Purslow, whose family hail from Birkenhead, spoke about his hope of securing significant investment by Easter but it didn't materialise. By Easter there was at least one investor ready to invest in the club, but not on terms that were acceptable at that time to the owners,' he said.[LNB]'I think it's fair to say that precipitated a further series of changes; the appointment of Martin Broughton as the new chairman, pretty dramatic changes to the Board of directors where George and Tom's family came off the Board and essentially the Board was re-jigged and, most importantly, the owners agreed they would seek a sale of all of the club rather than what we had been working on up to Easter, which was a partial investment, which I don't think was ever likely to be the optimum outcome for anybody.[LNB]'So I think that was a positive development in April and since then we have been working hard to try and find somebody to buy all of the club.'
