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As featured on NewsNow: Football news

Bank may allow Liverpool more time to find buyer

The Financial Times reports that Christian Purslow, managing director of Liverpool, reveals there are a few parties conducting due diligence currently. Liverpool has a debt of £280 million owned to the Royal Bank of Scotland which will become due in mid-October. Co-owners Tom Hicks and George Gillett have been working hard to find refinancing to hold on to the club as their asking price of £600 to 800 million has been daunting to many potentially interested parties.

Purslow has made it clear the board is likely to reject any refinancing proposal put forth by the current American owners.

There is the possibility that, if no other solution is found by the time the loan becomes due, there may be a short extension if there is a "clear plan to resolve the question of ownership and the financial stability" according to an insider. It is likely that there will also be additional conditions added to the loan.

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