Hicks And Gillette Reject BoSox Owners

John W. Henry, owner of the Boston Red Sox, has reportedly made an offer for Liverpool.  But Hicks and Gillette have reportedly rejected the offer as being insufficient to meet their valuation.

Both the US and Asian bids were described as “credible” by reliable sources today and Broughton, Liverpool’s managing director, Christian Purslow, and Ian Ayre, the club’s commercial director, were understood to favour entering serious discussions. However, Tom Hicks and George Gillett, the American owners of Liverpool, which owes £237m to Royal Bank of Scotland and Wachovia, were said to have rejected the offers in principle because they do not provide enough money for their shares.

Full article at The Guardian.

I do not understand what Hicks and Gillette could possibly be holding out for at this late hour.  Surely their equity would be wiped out in an RBS default claim?

Hicks And Gillette Reject BoSox Owners

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s