The BBC is reporting that Royal Bank of Scotland will refinance a debt of £350 million that was due to be paid in July. There are, however, still negotiations ongoing with Wachovia, which also is due part of the loan.
Email response from Hicks:
“We have been working closely with RBS for several months on both an extension and a permanent financing, and have their commitment to do so. Our new Managing Director, Christian Purslow, is leading the negotiations for us, and we anticipate finalizing everything during the next few weeks. Liverpool had a record year financially and came within a few points of winning the English Premier League for the first time in 20 years.”
Let's hope this frees up some cash in the budget for an acquisition.