Liverpool closing in on loan

English Liverpool looks like it will land the GBP 350 million loan the club desired from the Royal Bank of Scotland and Wachovia, and hold off a takeover by Dubai International Capital.

The loan would allow owners George Gillett and Tom Hicks to pay off a loan used to originally buy the club March 2007 and help with a new state-of-the-art stadium. That would be a relief, for there has been talk of further scaling down or delays with the project.

They would also then be able to repay loans used to sign players last summer and start work on a re-scaled plan for a new stadium in Stanley Park.

Gillett and Hicks have borne some supporters' anger, with crowds raising banners during matches to bash the duo and beg for help from DIC. Hicks said he has not received an offer for his half of the club, and likely would not accept any for the time being.

"Whoever is behind this false report, the facts are that I and my family have always been, and remain, fully committed to co-owning the club; that no-one in my family has ever indicated any intention or desire to sell our stake in the club; and that we expect and intend to be co-owners of the club, and to actively and enthusiastically support the club's manager, players and fans for many years to come," read a statement from Hicks.

DIC was ready to sweep in, but the company will not pay what it feels is over the value of the club.

But Liverpool supporters have particularly targeted Hicks, who looks more and more like he is after the money and not after success.

"People are worried that I might take money away from the Texas Rangers (Hicks' baseball franchise) to go to Liverpool," Hicks said in an interview on mlb.com. "But it is just the reverse. Liverpool is going to throw off lots of extra money which, if I choose to, I can use for the Rangers or the Dallas Stars ice hockey team."

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.