Liverpool’s Value Falling Due To Debt Woes

From Forbes, the business and financial news service;

The value of Liverpool is falling because the English soccer team’s co-owners, Tom Hicks and George Gillett, are having trouble refinancing $366 million of the holding company’s $541 million of debt. In April we valued Liverpool at $822 million, the sixth most valuable soccer team in the world. Around that time it was reported that Hicks was hoping to get 800 million pounds ($1.5 billion) for Liverpool. But Hicks (perhaps distracted with the sale of the Texas Rangers) and Gillett over-estimated the market. Now, with an Oct. 6 deadline looming on the refinancing with Royal Bank of Scotland and with thousands of the team’s supporters petitioning the bank not to extend the deadline, Hicks and Gillett may have to settle for as little as $700 million for the team or lose the team to the bank.

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