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 Posted by ESPN Staff
Sep 10, 2010

Hicks and Gillett under more pressure to sell Reds

The pressure on Liverpool's owners Tom Hicks and George Gillett to find a buyer has increased after it emerged the American duo may struggle to refinance their debts after an October 6 deadline.

It is understood that the Royal Bank of Scotland moved the debt to be dealt with by their restructuring team, which makes it more likely they will demand immediate repayment or instead sell the debt to a third party. That move could allow the third party to effectively take control of the club.

Hicks and Gillett bought Liverpool in 2007 using loans of £237 million and their company Kop Holdings' debts have now spiralled to £361 million. They have been actively searching for a buyer for six months without success.

Last month Chinese businessman Kenny Huang pulled out of talks after considering a move, while a Canadian-based Syrian investor named Yahya Kirdi claimed he represented a group interested in buying the club.

Earlier this year Hicks and Gillett rejected a £110 million offer from New York-based Rhone Group for 40% of the club.

RBS's position over their loan and its refinancing has contributed to the reluctance of interested parties to table formal bids.

If the October deadline passes and Hicks and Gillett do lose control of the club, the price for which Liverpool can be acquired is likely to be less with the Americans out of the equation.

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