Leaders
Dallmeier

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.

 

RETURN TO LATEST NEWS SECTION

 

SUBSCRIBE TO THE F.C. BUSINESS RSS FEED

 

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

Mats Hummels Joins Juan Mata For Common Goal

Thu 17th Aug 2017 | Money & Finance

Bayern Munich and Manchester United stars unite behind Common Goal #CommonGoal World Cup winner and Bayern Munich player Mats Hummels has become the second footballer to join Common Goal , pledging 1%...

Aldershot Town Gets Financial Support From Council

Tue 15th Aug 2017 | Money & Finance

Aldershot Town Football Club has confirmed that Rushmoor Borough Council has agreed to a package of financial support for the club, including rent and rates relief, until 2021. Following on-field...

Chinese debts emphasize need for local players’ association

Thu 27th Jul 2017 | Money & Finance

FIFPro is ready to offer assistance to professional footballers in China and other parts of the world where local player associations do not yet exist. Media reports this week revealed several Chinese...

SPFL: No fresh tax scheme sanctions against Rangers

Wed 26th Jul 2017 | Money & Finance

The SPFL Board today announced, following legal advice from eminent Senior Counsel, Gerry Moynihan Q.C., that there will be no further disciplinary proceedings taken by the SPFL connected with the use...