Liverpool Seeks Fresh Investment
Premier League club Liverpool is reportedly set to appoint Martin Broughton, chairman of British Airways, as its new chairman and ask Barclays Capital to lead their search for fresh investment.
The club’s American owners, George Gillett and Tom Hicks are set to stand down as co-chairman with Broughton being touted as their replacement as part of a restructured board at Anfield.
Barclays Capital, the bank’s investment arm, is set to help current managing director Christian Purslow in the search to find a new buyer for the cash-strapped club.
Broughton has previously chaired the British Horseracing Board, British American Tobacco and the Confederation of British Industry.
The club has recently rejected a £100m offer for a 40% stake in the club from the Rhone Group, a New-York based private equity firm, as it did not meet the American owner’s value of the club.
Another refinancing deal and the construction of a new stadium, depends on fresh capital being found, something that Purslow, with the help of investment banks Merrill Lynch and Rothschilds, has yet to do.
