Singapore billionaire steps into LFC bidding

Aug. 16, 2010 - 06332163 date 15 08 2010 Copyright imago BPI Liverpool FC Badge ON The exterior Wall of The Kop PUBLICATIONxNOTxINxUKxFRAxNEDxESPxSWExPOLxCHNxJPN men Football England Premier League 2010 2011 Liverpool venues Stadium environment Anfield Road Vdig 2010 vertical Highlight premiumd Football.

A billionaire from Singapore has made the tale of Liverpool Football Club’s potential sale take another twist by improving a bid for the club, in a move to counter the bid that has been accepted from New England Sports Ventures.

Although legal proceedings mean it is yet unclear whether – or when – the the sale of the club can be put through, Peter Lim has put in an improved offer after seeing his first bid turned down in favour of the Americans last week.

Robert Peston of BBC Sport reports tonight, “Mr Lim, too, was offering to repay all of Royal Bank of Scotland’s and Wachovia’s £200m of long-term debt, to take on £60m of other debt and to inject £40m of working capital.

“What’s more – and Mr Lim regards this as crucial – all the money being provided by him would come from his own cash resources. He is not planning to borrow any of it.”

The High Court will hear the case of the Royal Bank of Scotland vs Tom Hicks and others on Tuesday, with the dispute and Liverpool’s future hoping to be tied up by the end of the week, although in reality the saga could drag on for a while yet.

It could be that Lim’s bid for the club is the more attractive offer for current owners Tom Hicks and George Gillett who stand to lose £100million if chairman Martin Broughton succeeds in his legal dispute against them.

For the latest on the ownership and takeover talks, head to our forums and join other fans as news breaks throughout the night.

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