Hicks: Liverpool not for sale

Despite the current worldwide financial crisis putting a hold on a new stadium, Liverpool co-owner Tom Hicks remains insistent he has no intention of selling the club.

Hicks and co-owner George Gillett want a 75,000-seater stadium at Stanley Park to generate the cash to repay their £245million personal debts.

A source close to Hicks denied a report saying the investment bank Merrill Lynch have been instructed to find a buyer, maintaining they were merely providing expertise in refinancing the existing debts.

Hicks and Gillett refinanced their debts earlier this year with the Royal Bank of Scotland (RBS) and that deal is due to expire on January 25.

The source told PA Sport: "Tom is not looking to get out of Liverpool - it is an asset he likes and he doesn't plan an exit.

"They have not engaged Merrill Lynch to sell the club - they have been an adviser of Tom's for 12 months.

"There is an option with RBS coming up to extend (the refinancing deal) by a further six months until July and they will take up that option unless they have agreed another refinancing package before that."