The asset management firm Blackstone is being courted by Liverpool Football Club owner Tom Hicks in a bid to preserve his place at the helm of the team’s ownership structure, according to The Telegraph.
The club, laden with debts from a leveraged buyout by Hicks and co-owner George Gillet, is seeking to solve its current debt crisis with RBS. The club currently has 282 million pounds ($440.5 million) in debt, and is seeking to refinance a large part of it so it can keep up with interest payments.
In the rumoured deal, Blackstone would buy in up to 180 million pounds ($281.2 million) in equity.
The news comes as hedge funder Paul Marshall of Marshall Wace is set to speak on the matter, labelling the money that flowed into the sport of soccer in the England prior to the financial crisis as “irrational capital.”
Marshall is also set to take aim at Liverpool’s owners in specifics, calling their investment with little knowledge of the club or the community, “the rape of a community.”
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