Tom Hicks and George Gillett 460
THE Royal Bank of Scotland has taken the unprecedented step of writing to Liverpool Football Club’s supporters to justify its continuing financial support of the club’s American co-owners.
The bank has been flooded with emails from Liverpool fans calling for the plug to be pulled on Tom Hicks and George Gillett’s £350m debt.
Earlier this week, the Daily Post reported how discussions on refinancing the loan, ahead of its expiry on July 24, were “progressing well”.
The sending of the email is virtual confirmation the loan will be refinanced.
The message from RBS says the bank has a “long-term relationship with the club, and we look forward to this continuing for many years to come”.
“In our view and that of the executive management of the club, it is financially healthy and able to service comfortably its debt obligations from cash flow generated by its playing and commercial activities.
“It is in our commercial interest to support the club . . . so that it can continue to perform successfully on and off the pitch.”