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.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.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.Hicks had hoped that he would be able to obtain from Blackstone sufficient capital to take full control of the club However, it is understood that after a conversation had taken place between Hicks and Blackstone, they decided not to go ahead with a deal.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.

Source: Liverpool_Echo