Those two cowboys in charge of LFC have managed to lasso themselves a stay of execution from that crippling bank debt, renegotiating a new lending agreement with the Royal Bank of Scotland. The other bank that's owed a shit-ton of money, Wachovia, hasn't announced any revised agreements, but you figure that it will follow.
RBS are insisting on significant payments within the next six months, which worries me greatly; after all, how are you gonna do that? Well, you could sell all your best players, for a start. There are enough rumors about Xabi Alonso and Javier Mascherano, two absolutely vital players in the midfield, heading to Spain if they don't get better contracts to stay at Anfield, and it gets me a little scared.
That said, Gillett sold his 80% stake in the Montreal Canadiens, worth some 333 million pounds ($550 million), and you can bet that quite a bit of that cash will go to alleviating the debt.
It's not quite zero hour in Liverpool, but it's close. The morons have shown that they want to keep LFC at the top (ok, second from top) rather than run some bargain-basement EPL franchise with all that money spent on Glen Johnson, a frickin' right-back. Sure, he was a bit pricey for the position, but with the new Champions League regulations trickling down from UEFA, those English teams need to have more homegrown players in their squads and the purchase makes sense. As Rafa says, you can't compete in the EPL without spending some money.
As for the other owner, Tom Hicks has also been looking to sell off chunks of the Texas Rangers and the Dallas Stars, which is great for those poor, mishandled franchises, and should also help show the bank that they have enough cash to keep LFC going.
I'll come down off the ledge, stop hyperventilating and get ready for the extended tenure of Hicks & Gillett at my beloved club. I mean, if they're selling all their other sports franchises and getting the money into LFC to buy players, keep players and maybe win us a title, I think I can forgive them for their wheeling and dealing.