There's No Anarchy in the U.K. For Tom Hicks, Who's Not Defaulting on This Loan

Never did get an official response from The LeMaster Group concerning last week's news that Tom Hicks and George Gillett's Liverpool FC lost a ton o' debt-service dough despite making a pile of cash at the turnstile. Oh, well -- the Guardian fills us in on the latest breaking news...

By Robert Wilonsky

June 10, 2009

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Never did get an official response from The LeMaster Group concerning last week's news that Tom Hicks and George Gillett's Liverpool FC lost a ton o' debt-service dough despite making a pile of cash at the turnstile. Oh, well -- the Guardian fills us in on the latest breaking news from the U.K., where, it seems the owner (for now) of Your Texas Rangers is all set to refinance a £350 million loan with the Royal Bank of Scotland and Wachovia that's due by the end of July.

For months, Liverpool supporters have been hoping the crushing debt and interest payments would result in Hicks and Gillett selling the club; the Spirit of Shankly, the Liverpool supporters union, only yesterday announced that it's "currently looking at different methods of appropriate action that can be taken, against Tom Hicks, George Gillett, or those involved in the financing of their ownership of Liverpool Football Club," whatever that means. But the Guardian reports that Hicks will pony up a little extra penalty scratch in addition to those same ol' above-market-rate interest payments, and that he's all good with that -- "very relaxed," whatever that means. Still, though, no new 60,000-seat stadium any time soon (or ever), which must really bum out Dallas-based HKS Architects.

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