RBS To Help Liverpool Avoid 9-point deduction?
Written by John Toher
Liverpool will avoid a nine point penalty if they fall under bank ownership next month. The Premier League will approve an Anfield takeover by the Royal Bank of Scotland if co-owners Tom Hicks and George Gillet don’t find a buyer or repay their debt by October 6.
The RBS has had power to seize the club before but there were concerns about league sanctions. Fans feared that if the Americans defaulted on their loans the club would be plunged into administration, leading to a nine-point deduction.
It looks therefore unlikely that there are any serious bids for the club on the boardroom table at this moment in time. It seems that most potential investors are in fact biding their time until the club is absorbed by RBS and only then will they make an offer substancialy less than the £600 to £800 million that Hicks is looking for.
Indeed, if RBS do takeover Liverpool FC, the dreaded Yanks will end up with nothing, something we should all rejoice in.
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