Liverpool’s off-field problem

In Uncategorized on 02/10/2010 at 5:21 am

Royal Bank of Scotland, or RBS, is Liverpool FC’s biggest creditor. The club has £280m of debt.

The club is up for sale but unless a deal can be agreed before the debts fall due on October 15, RBS will have to decide if it is ready to take control or extend the duration of  its  loans to allow more time. RBS reputation with other borrowers and fans will suffer if it just  extended the loans and left  Tom Hicks and George Gillett in place.

Putting Liverpool into administration is unlikely because the club would  incur lost points, and Liverpool supporters would not be happy. But Toffee fans would cheer RBS on.

Taking control the club would be problematic as RBS is majority- owned by the British government, The majority of tax payers are not ‘Pool fans. Can you imagine the uproar if RBS lends more money for the club to buy players to ensurethat the club gets into the Champs League next yr. Remember, a gd finish in the Champs League brings in the money.

Sity, Spurs, Villa and Toffee fans would have sumething to say.

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