Liverpool Owners Tom Hicks And George Gillet May Walk Away With Massive $229 Million Loss

Liverpool FC

Photo: AP

Current Liverpool FC owners George Gillet and Tom Hicks are set to lose a massive 144 million pounds ($228.8 million) if the sale of the club to Red Sox owner John Henry goes through, according to The Guardian.The pair have been left kicking and screaming by the accepted offer, attempting to remove board members in an effort to prevent themselves from losing money.

The problem is that John Henry’s deal to take over the club, which has been backed by the Liverpool board, undervalues the club, according to Hicks and Gillet.

The deal is currently said to be worth around 300 million pounds ($476.6 million), with New England Sports Ventures, part owned by Henry, paying, according The Guardian.

That would stick both Hicks and Gillet with a huge loss, and that’s why they continue to fight it now.

Liverpool FC got into this position due to a leveraged buyout of the club by Hicks and Gillet, who then put debt onto the club. The club has been threatened with restructuring by RBS.

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