Source: Liverpool_Echo
Tom Hicks’ attempts to retain Liverpool FC suffer a major setback
TOM HICKS' attempts to retain control of Liverpool have suffered a major setback after the private equity firm Blackstone decided not to back his refinancing plans.[LNB]Liverpool's co-owner had been hoping to secure £280m worth of funding to stave off the Royal Bank of Scotland, who are expecting an outstanding debt of £237m to be repaid early next month.[LNB]He had engaged in talks with GSO Capital Partners, the debt restructuring arm of Blackstone and had informed the rest of Liverpool's board of his plans last week.[LNB]Hicks had hoped that he would be able to obtain from Blackstone sufficient capital to take full control of the club[LNB] However, it is understood that after a conversation had taken place between Hicks and Blackstone, they decided not to go ahead with a deal.[LNB]It has been reported that Blackstone had opted to take that course of action after being bombarded by emails from furious Liverpool supporters following revelations of Hicks' plan.
