Liverpool won’t go bust

Liverpool managing director Christian Purslow has insisted that the club is not in danger of going bust if the current ownership issues surrounding Liverpool are not resolved. Liverpool’s American owners Tom Hicks and George Gillett currently owe the Royal Bank of Scotland £237 million in loan repayments with the deadline for repayment or refinancing their loan set for mid-October.

It is reported that Tom Hicks is looking into avenues that would allow him to restructure his loans and also buy out his co-owner George Gillett. However, Purslow has said that the board would dismiss any such deal that would use the club’s assets as security.

Liverpool has been up for sale since April and Purslow and club chairman Martin Broughton have been given the task of finding new investors for the club but have so far failed to find a suitable party.

With the mid-October deadline fast-approaching, there is chance that the club will be taken over by the bank and be placed into administration but Purslow has moved to reassure fans that this would not be the case.