20 Sep 2010Liverpool co-owner attempts full buyout

Football Clubs News | Football Finance News

Liverpool's controversial co-owner Tom Hicks is in the middle of a last-ditch attempt to cling on to the reins of power at Anfield by acquiring George Gillett's share of the football club, according to reports.

The Texas-born businessman met chairman Martin Broughton last Wednesday (September 15th 2010) to discuss his plan to refinance his existing loan and reinstall his son Tom Hicks Jr to a place in the boardroom.

According to the News of the World, Hicks is close to securing a further £280 million from private equity firm Blackstone/GSO to buy out Gillett's stake - which could delay any future sale of the Merseyside outfit by up to two years.

Gillett is believed to have given Hicks the go-ahead to proceed, but the newspaper has claimed that the former's backing for the deal is dependent on the latter's increased investment in the playing squad and the long-awaited new stadium at Stanley Park.

The club were strongly linked with several buyers earlier this summer, but each party's interest appears to have stalled.

Written by Terry Mitchell

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