Liverpool's American owners have finally concluded a deal to re-finance the bank loan they took out to buy the club in 2007.
Co-owners Tom Hicks and George Gillett are not expected to issue a statement but the deal is believed to be for another year and will involve them paying back £60 million of the original debt.
Negotiations between the Royal Bank of Scotland, Wachovia and the owners have continued for months as the worldwide credit crunch has made them tortuous.
There has been real fear the banks would call in the loan, while Hicks and Gillett have searched for someone to take a minority stake in the club for around £100m to no avail.
However, a source close to the owners has confirmed the deal has now been concluded and before last weekend's deadline for re-financing the package expired.
The owners have reduced the £290m they owed to £230m, with £60m being repaid, half immediately.
Hicks, 63, and Gillett, 70, purchased Liverpool in 2007 for £174m, taking on £44.8m of liabilities.
Leading football financial experts believe in the long term the pair will need a huge influx of cash from outside or they will have to sell up.
In January, Kuwaiti billionaire Nasser Al-Kharafi offered £425m for overall control but the Americans only wanted to sell 50 per cent an intention will could prove a significant hurdle to further future investment.
Via: Yahoo! Sport
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