As you can imagine as editor of this website, the last few months have invariably meant me reporting stories and writing blogs about Liverpool that have not generally been positive. Hopes of a sale of the club in August were dashed, and this has been surrounded by the sacking of Rafa Benitez and a poor start to the season under new manager Roy Hodgson. All in all, the Reds are going through one of the most difficult periods in the club’s history and I am hoping that that the October 6th deadline and the subsequent ten days after, which could see the RBS call in their loan to the American owners, could bring to an end this drawn out saga.
The ownership issue has hung over the club for so long that it has begun to consume everything relating to the club. It has brought every Reds fans to their lowest ebb, and we all hope in the next 17 days that this despair can be lifted off the club. It is then with a small amount of hope that I read an article in the Liverpool Daily Post today about the possibility of two potential buyers being in the “advanced stages” of talks. Certainly it is not wise to get our hopes up, especially after they have been dashed many times before. The Daily Post is hesitant in what it says about the two parties for although they are going through due diligence, no former offer has been made.
One of the big issues ahead when the deadline comes along is what RBS will decide to do about the loan. With its majority being state-owned, RBS sees calling in the debt, forcing the club’s holding company into administration and selling the club on its own, as the last resort. At the same time though, it is unlikely that a sale of the club will take place before the deadline because of the American owners’ high asking price and the fact that the interested parties would see no point in paying a premium price when they could just wait for the American’s to default on the loan in a short space of time.
According to the report also, the Liverpool board are taking their time with the two interested parties. Martin Broughton, Christian Purslow and Ian Ayre are not really keen to sell the club to the highest bidder if a better offer for the club, in regards to financing player acquisitions, the stadium and reducing the debt, is on the table. Chairman Martin Broughton came out today to say to the Guardian that he wouldn’t be putting his name forward to become Chairman of the FA, indicating that that a deal to sell Liverpool is a long way off. He was appointed to oversee the takeover and he has taken his hat out of the ring for the FA solely because he hasn’t finished his job at Anfield.
I, like every other Reds supporter, would love to see the RBS call in the debt and leave the American owners with nothing. Whether this becomes a reality is up to whether the bank finally loses patience with Hicks and Gillett and tries to recover as much as they can themselves from the sale of the club. The waiting goes on, but let’s hopes, for the club’s sake, it is not for much longer.
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