Gillett to sell Montreal Canadiens to strengthen LFC stakes

• limpper

  24 Mar 09, 15:43

  

   

  George Gillett is set to cut his ties with Liverpool, it has been revealed.

  The Daily Mail says Gillett, the Liverpool co-owner, is ready to cut his ties with the club and follow chief executive Rick Parry out of Anfield after exploring ways of selling his sporting assets.

  Pierre Boivin, president of Gillett's NHL team, the Montreal Canadiens, says Gillett has hired four financial firms in Europe, the United States and Canada to look into the future of his interests, including his 50 per cent stake at Anfield.

  Gillett has endured a stormy relationship with fellow owner Tom Hicks in their two years together and further alienated him by siding with Parry when the outspoken Texan launched a fierce attack on Liverpool's outgoing chief executive.

  Boivin said: "The process has been started but we're only at the beginning. We're not hiding it. We're going through a very difficult economic period."

• limpper

  24 Mar 09, 17:08

  Gillett to sell Montreal Canadiens to strengthen Liverpool stake.

   

  George Gillett intends to STAY as co-owner at Liverpool.

  The Sun says the Kop co-owner is mulling over off-loading an 80.1 per cent stake in Montreal Canadiens — worth around £185million.

  Some saw that as a signal he was also ready to sell his 50 per cent holding in Liverpool.

  But it is understood he plans to stay with partner Tom Hicks at Anfield.

  The American needs cash to refinance a £350m loan the pair have on Liverpool by July. Now it seems likely he plans to use the Canadians sale to help.

  With the upturn in fortunes on the field at Anfield — plus the fact a new stadium could prove a gold mine — he is now ready to sit tight.

• limpper

  27 Mar 09, 16:49

  Hicks preparing to sell his Liverpool stake.

   

  Tom Hicks is ready to sell his 50 per cent stake in Liverpool, it has been revealed.

  The Sun says he is believed to have instructed global financial giants Merrill Lynch to find a buyer.

  Hicks bought the club with fellow American George Gillett for £219million in February 2007.

  He hopes to complete a sale before their £350m refinancing deal with RBS has to be restructured in July.

  Both men were given a six-month reprieve on the arrangement in December, giving them breathing space to find the £30m interest repayments on the loan.

  But with little chance of that being re-approved in the current economic climate, Hicks seems keen to cash in now.

  Gillett denies he is looking for a way out after news he is considering selling some of his sporting assets.