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By Nick Harris
7 April 2010
Liverpool’s search for new investment is back to square one after confirmation that the Rhone Group has walked away from a potential £100m deal to take a 40 per cent stake in the club following a luke warm response to their offer from the club’s owners, Tom Hicks and George Gillett. “Rhone are no longer interested,” a source said.
As this website reported last month, the men behind Rhone are not billionaires and never intended to invest their own cash. But the group was serious about offering £100m to ease Liverpool’s cash crisis; Hicks and Gillett need to repay RBS bank £100m at some stage – the precise date has never officially been confirmed – between now and the end of July.
As we also have also reported, it was always likely Hicks and Gillett would turn down such a low offer.
Liverpool’s managing director, Christian Purslow, had said he expected to find new investment by Easter but that deadline has come and gone without him achieving his aim. Other investors are now likely to wait to see whether Liverpool qualify for the Champions League next season or not.
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