New doubts over Hicks funds at Liverpool

Fresh doubts have been raised over Liverpool co-owner Tom Hicks' ability to fund the club's proposed new home in Stanley Park following a shock decision to delay the building of a stadium in Texas.

Hicks has admitted he has been unable to secure financing for the Glorypark mixed-use development in Arlington, Texas that was scheduled to open in March 2010.

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The £250million venture has been put on hold because of the credit squeeze and troubled retail market.

Hicks said in an interview with the Dallas Morning News: "We are in the most difficult credit crunch I have seen the last 20 years."

That revelation will give more hope to prospective buyers of Liverpool, Dubai International Capital, who have long believed Hicks - and his estranged co-owner George Gillett - have found it virtually impossible to raise further loans to facilitate the move from Anfield.

It is believed Hicks must find funding over the next few months to build the club's new £350million stadium.

Last week, Liverpool gained their third planning permission for the revised Stanley Park scheme.

Hicks said at the weekend: "Site work will start in September and actual construction in late October/early November, with completion in time for the season starting in August 2011."

Some money, around £60million, was set aside from the January re-financing of Hicks and Gillett's loans to buy Liverpool, to allow the stadium work to start.

But it is believed Hicks has been unsuccessful in raising further loans from the London and US financial markets in recent weeks.

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