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Liverpool owners look set to announce sale of club this week

Mon 12th Apr 2010 | Clubs Ownership

It has been widely reported that Tom Hicks and George Gillett will officially announce plans to put Liverpool on sale this week.

The Liverpool owners and managing director Christian Purslow are working with a June 31st deadline for paying down a £100 million debt to the Royal Bank of Scotland. There has been an active search for investors for the last six months with this goal in mind.

But the bank are said to be willing to give Liverpool a stay of execution if Hicks and Gillett make a commitment to selling the club.

To that end, the pair have hired the mergers and acquisitions arm of Barclays Bank to help find a buyer and are expected to announce the appointment of British Airways chairman Martin Broughton as independent chairman. The pair will stand down as co-chairmen.

There was a £105 million offer from the Rhone Group for a 40 per cent stake in the club until Monday and Liverpool chose to not take that up. The owners are keen on finding a bid that will factor in the increase in value that will come with a renovated stadium at Anfield although at this time that is still very much in the planning stage. Buyers are also waiting to see if Liverpool qualifies for the Champions League as that will also affect the potential valuation of the club.

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