Spirit of Shankly

Tom Hicks Is "Toxic" In Liverpool

Hit it,


: Baby, can't you see what the Royal Bank of Scotland just did --

it moved Tom Hicks and George Gillett's £237 million debt in Liverpool FC to the totally-teffed-list

. Meaning: After asking somewhere between £600 and £800 million for the Reds (which, I believe, translates into $932 billion U.S., which looks high) and finding no takers, Hicks and Gillett could be forced to sell at a much, much lower price. Either that, or they'll have to pay back the money owed, which

they've been putting off for more than a year

. The bank has set October 6 as the put-up-or-sell-out date.

They could have already sold the club at a discount if they wanted: Last month Chinese businessman Kenny Huang and a "Syrian businessman" made significantly lower offers. But Hicks said thanks but no -- because how else is he going to recoup his losses on the Texas Rangers and Dallas Stars, remember?

Barclays Capital's Martin Broughton, brought in to find a taker for the team, keeps insisting he'll find someone willing to pay what Hicks wants (because, look, Gillett would have gotten out for Ed Monix and a washing machine at this point). But as The Independent puts it this morning: "There are doubts as to whether he can compel the Americans to sell at a price unacceptable to them, which has been the underlying cause of the failure to find a buyer. Now RBS may be preparing for an endgame in which, with the bank unwilling to refinance their loans, the Americans really will have no choice but to sell at a realistic market price of perhaps £300m."

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.


Join the Observer community and help support independent local journalism in Dallas.


Join the Observer community and help support independent local journalism in Dallas.