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Worry as Hicks and Gillett suffer financial woes

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Liverpool Football Club’s co-owners Tom Hicks and George Gillett suffered losses of over £42million during the year ending August 2008, casting worried uncertainty on the future ownership of the club.

The majority of the loss has come on interest payments on the loan that Kop Football Holdings took out with the Royal Bank of Scotland to fund the purchase of the club in February 2008.

Hicks and Gillett currently have until 24 July to pay back the loan, though an extension from the RBS is expected.

The Dubai based investment company, DIC and a Kuwaiti consortium continue to be linked with purchasing the American tycoon’s shares in the club.

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