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Old 17th September 2010, 02:55 PM   #1 (permalink)
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Tom Hicks Set To Make A Move On George Gillett's Stake In Liverpool - Report

Liverpool co-owner Tom Hicks is thought to be ready to snap up George Gillett's stake in the club.

Gillett is believes to be struggling under financial pressure in the United States as next month's deadline on a £75 million loan that was taken against his stake in the club.

The American is reported to have taken a £75m from U.S. Hedge Fund Mill Financial when the two owners were pushed into reducing the debt with the RBS.

Now The Mirror claims that Hicks is now trying to push through a refinancing package and take control of the Merseyside club.

It has been reported that the former Corinthians top boss wants to pick up his partner's stake so as to buy some time to make a profit by selling the club.

Liverpool's are believed to be more than £350m in debt.

Source: Goal.com

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