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

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