Source: Telegraph
Liverpool's George Gillett calls in banks to study sale options
As well as his 50 percent stake in the Premier League club, Gillett owns the Montreal Canadiens NHL franchise, their Bell Arena home and a NASCAR team. The Canadiens president, Pierre Boivin, confirmed the Gillett family had appointed the financial advisors BMO Marches to examine all of their investments because of the difficult financial climate. [LNB]He said: 'We could be talking capitalisation, financial restructuring, new investors or a sale of the enterprises. It's no secret we are in a very difficult economic period. Banks are reticent to finance even very good projects. The advisers we have brought in will maximise investments and redirect the financial strategies of the family.' [LNB] Related ArticlesPremier League title run-in[LNB]Liverpool have the momentum, says Benitez[LNB]Ferguson will be worried by flat United[LNB]Benitez 'will be backed to buy'[LNB]Premier League action[LNB]Boardroom revolution bears fruits[LNB]Gillett has not responded to the latest speculation but angrily denied in December that he was planning on selling the Canadiens, saying: 'The Montreal Canadiens have never been for sale. We have never prepared documents or materials to that end. I am angry I need to keep denying this.' [LNB]But he has been actively seeking a buyer for Liverpool almost since he arrived, as partner to Tom Hicks, at the club in February 2007. He had appointed the investment bank Rothschilds to hold talks with a number of parties but no bid has been forthcoming, a failure attributed by potential investors' unwillingness to work with Hicks. [LNB]While the Texan last week reaffirmed his desire to remain at the helm of the Anfield club, Gillett has said little in public. He attended last week's win at Old Trafford, and spent two days last week meeting with advisors in London, but it is not thought the talks concerned a potential sale of the club. [LNB]His position at Liverpool, though, appears untenable. He has not spoken with his co-owner for six months and their relationship has broken down completely. Gillett was known to be reluctant to hand Rafa Benitez the power the club's manager craved in his contract negotiations, but Benitez's demands have been met. [LNB]Most significantly, that Gillett has accepted Rick Parry's departure as chief executive – demanded by Hicks last year – suggests he acknowledges that he has lost the battle of wills in the Anfield boardroom. [LNB]
