- Dec 1, 2003
- 11,931
- 30
How on earth have Liverpool got into so much debt? They don't even have a new stadium yet. As an aside, how did Keith Harris manage the career move from ventriloquist to takeover broker? :think:
Premier League takeover broker Keith Harris believes Liverpool could go into financial meltdown in January and might be forced to sell up.
Harris, who has masterminded deals for Chelsea, Aston Villa, Hull City, West Ham United and Manchester City and is currently seeking buyers for Newcastle United and Everton, claims that the Reds could be severely affected by the global credit crunch.
Bickering Liverpool owners Tom Hicks and George Gillett have two months to pay back a reported £350million worth of debt and with refinancing packages and new financial stakeholders getting harder and harder to find the Merseyside club might have to offload star players to pay off the debt.
The worse case scenario would be for the banks to consider repossessing the club if the payments cannot be met.
"The one that worries me is Liverpool," said Harris. "Liverpool's debt is due in January, with maybe a six-month extension."
"The two banks which are the principal lenders - the Royal Bank of Scotland and Wachovia - are two of those that have suffered. Whether they want to lend it again or not, they may not be able to."
Premier League takeover broker Keith Harris believes Liverpool could go into financial meltdown in January and might be forced to sell up.
Harris, who has masterminded deals for Chelsea, Aston Villa, Hull City, West Ham United and Manchester City and is currently seeking buyers for Newcastle United and Everton, claims that the Reds could be severely affected by the global credit crunch.
Bickering Liverpool owners Tom Hicks and George Gillett have two months to pay back a reported £350million worth of debt and with refinancing packages and new financial stakeholders getting harder and harder to find the Merseyside club might have to offload star players to pay off the debt.
The worse case scenario would be for the banks to consider repossessing the club if the payments cannot be met.
"The one that worries me is Liverpool," said Harris. "Liverpool's debt is due in January, with maybe a six-month extension."
"The two banks which are the principal lenders - the Royal Bank of Scotland and Wachovia - are two of those that have suffered. Whether they want to lend it again or not, they may not be able to."