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Liverpool gets extension for debts: Report

Football club Liverpool, put up for sale by its U.S. owners last month, has been granted an extension on its debt pile under a deal brokered by its new chairman, the Sunday Times reported.



London: British Premier League football club Liverpool, put up for sale by its U.S. owners last month, has been granted an extension on its debt pile under a deal brokered by its new chairman, the Sunday Times reported.

The newspaper said a minimum 12-month extension had been granted on 237 million pounds of loans from Royal Bank of Scotland, giving loss-making Liverpool until the end of next season to pay back the debt.

The latest extension was arranged by Martin Broughton, the British Airways chairman brought in to oversee the club’s sale, as part of the terms of the new job, it added.

Liverpool will not be playing in the lucrative Champions League next season after a campaign that has gone from bad to worse. They went out of Europe’s elite competition at the group phase and with one match remaining in the Premier League lie in seventh place.
Liverpool was not immediately available for comment. RBS had no immediate comment.

Bureau Report

From Zee News

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