News Alerts
Headlines
Liverpool lists refinancing as top priority
England - 11 January, 2008
Adjust font size:
English Liverpool will put its new state-of-the-art stadium on hold while owners George Gillett and Tom Hicks try to get refinancing for the club.
Chief executive Rick Parry issued a statement saying that a final decision had been put off right after the club met with architects about stadium design.
The architects were brought in after the owners said the previous architects, HKS, missed budget for the 70,000-capacity stadium. They missed by GBP 50 million.
Hicks and Gillett have turned to refinancing as the first priority. They are trying to figure out how to handle GBP 270 million in loans taken out in Feb. to buy the club. The current credit crunch and the club's debt have combined to make refinancing a difficult proposition for the owners.
Chief executive Rick Parry issued a statement saying that a final decision had been put off right after the club met with architects about stadium design.
The architects were brought in after the owners said the previous architects, HKS, missed budget for the 70,000-capacity stadium. They missed by GBP 50 million.
Hicks and Gillett have turned to refinancing as the first priority. They are trying to figure out how to handle GBP 270 million in loans taken out in Feb. to buy the club. The current credit crunch and the club's debt have combined to make refinancing a difficult proposition for the owners.
Source: euFootball.BIZ © Copyright 2006 -
All rights reserved.
© Copyright message
The copying, republication, redistribution or web posting (including by framing or similar means) of this content is expressly prohibited without the prior written consent of euFootball.BIZ
-
Finance
Television
Sponsorship
Marketing
Technology
Competitions
Clubs
Stadia-Facilities
Legal
Administration
Events