Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Former Liverpool co-ower, Gillett sued by hedge-fund

Mon 22nd Nov 2010 | Money & Finance

Former Liverpool FC co-owner George Gillett is being sued for $117 million over a loan used to invest in the Premier League club according to Soccerex daily.


It’s understood that US-based hedge fund Mill Financial took legal action against Gillett as it claims the American failed to repay a $70-million loan due on August 13 at a 19-per-cent interest rate.


Gillett and American co-owner Tom Hicks lost a High Court case to prevent Liverpool from being sold to the US company New England Sports Ventures in a £300-million deal they believed was undervalued, but that was forced by the clubs main creditors, the Royal Bank of Scotland (RBS).


During the sales process, it was reported that Mill Financial had taken over Gilletts stake in Liverpool as he had failed to repay the loan. It also emerged that the fund held discussions with the Liverpool board and RBS about buying the Premier League club.






If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Shrewsbury Town’s Safe Standing Crowdfunding Campaign Success

Tue 17th Oct 2017 | Money & Finance

In an historic achievement, Shrewsbury Town Football Club are one step closer to being the first club in England and Wales to introduce safe standing at their Montgomery Waters Meadow stadium,...

Average Premier League Ticket Costs £32

Fri 13th Oct 2017 | Money & Finance

The average price of watching a Premier League match costs £32 according to research released today. The Premier League, working with professional services company EY, has conducted in-depth...

FC Barcelona to become world’s top earning sports club

Thu 12th Oct 2017 | Money & Finance

FC Barcelona announced on Wednesday the financial reports that it will present at the Club’s Ordinary General Assembly on 21 October, when it will share the annual report with member delegates...

Premier League clubs must sell over 2 million tickets to earn back total transfer spend this season

Thu 5th Oct 2017 | Money & Finance

Each year, the summer transfer window is the most highly awaited time of year for football fans, and clubs alike. It's an opportunity to sign top-quality players to heighten the club's chances of...