Jan 25 2008
Exclusive by Tony Barrett, Liverpool Echo
TOM Hicks today announced that he and Liverpool co-owner George Gillett have completed their long promised refinancing deal.
The conclusion of the £350m loan from the Royal Bank of Scotland and American investment bank Wachovia follows on from the new stadium plans which were released this morning, the club will take on £105m of the new debt, Kop Holdings (the holding company set up by Hicks and Gillett following takeover) will take on the other £245m.
Tom Hicks said: "This new financing package is a strong vote of confidence in the Club's financial strength and a recognition of the exceptional opportunity represented by the construction of the club's new state-of-the-art stadium at Stanley Park.
"The successful completion of this financing package is particularly significant in light of the currently challenging credit-market environment.
"With the refinancing process now done, club supporters can look forward to the timely commencement of construction work on the new stadium and renew their focus on actions on the pitch."
Hicks also gave his public backing to Reds boss Rafa Benitez, saying: "Since the meeting with Rafa on December 16, at which some widely reported communications issues were discussed, Rafa has been assured that he has continuing and enthusiastic support as the club's manager.
"Reflecting that support, Kop recently approved his transfer payment request to sign Martin Skrtel for £6.5 million and is in discussions with Rafa and club management regarding additional player signings this summer.
"Rafa is under contract for two more seasons following this season. I am solidly behind Rafa and am confident of the team's competitive prospects under his continuing leadership."
Exclusive by Tony Barrett, Liverpool Echo
TOM Hicks today announced that he and Liverpool co-owner George Gillett have completed their long promised refinancing deal.
The conclusion of the £350m loan from the Royal Bank of Scotland and American investment bank Wachovia follows on from the new stadium plans which were released this morning, the club will take on £105m of the new debt, Kop Holdings (the holding company set up by Hicks and Gillett following takeover) will take on the other £245m.
Tom Hicks said: "This new financing package is a strong vote of confidence in the Club's financial strength and a recognition of the exceptional opportunity represented by the construction of the club's new state-of-the-art stadium at Stanley Park.
"The successful completion of this financing package is particularly significant in light of the currently challenging credit-market environment.
"With the refinancing process now done, club supporters can look forward to the timely commencement of construction work on the new stadium and renew their focus on actions on the pitch."
Hicks also gave his public backing to Reds boss Rafa Benitez, saying: "Since the meeting with Rafa on December 16, at which some widely reported communications issues were discussed, Rafa has been assured that he has continuing and enthusiastic support as the club's manager.
"Reflecting that support, Kop recently approved his transfer payment request to sign Martin Skrtel for £6.5 million and is in discussions with Rafa and club management regarding additional player signings this summer.
"Rafa is under contract for two more seasons following this season. I am solidly behind Rafa and am confident of the team's competitive prospects under his continuing leadership."
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