Liverpool's owners have been
given an ultimatum by their bank.
The Times says Tom Hicks and George Gillett Jr, the
owners of Liverpool, have been
issued with an ultimatum by the club’s bankers to attract investors
to reduce the club’s debt or to sell up.
A statement released on behalf of Hicks and Gillett yesterday
provided official confirmation for the first time that a search for
new funds is under way, with Rothschild and Bank of America Merrill
Lynch, the investment banks, leading the search.
City sources believe the announcement is an indication of the
pressure that the Americans, who bought Liverpool in February 2007, are under to reduce
the club’s exposure to debt.