£350m Liverpool loan may be refinanced

by Richard Kilner

Story link: £350m Liverpool loan may be refinanced

The loan US millionaires Tom Hicks and George Gillett used to purchase Liverpool football club is going to be refinanced.

Speculation mounts that RBS and Wachovia, an American bank, are going to soon announce a £350m refinancing of the loan.

Rumours had been circulating for some time that the loan could be refinanced, though the decision may have been made more difficult due to the credit crunch.

The announcement could be made as early as today, or tomorrow.

It is believed that the RBS loan of £298m will be covered under the refinancing, as will some funds for the construction of a new stadium at Stanley Park.

The new stadium’s costs are estimated to be around £300m.

None of those involved have commented on the speculation.

Should the deal go ahead, rumours of the acrimonious relationship between owners and club will remain.