Reds will succeed in refinancing attempt

LIVERPOOL’S owners are likely to succeed in refinancing their huge debts before the July deadline, according to football’s top takeover expert.

But Keith Harris, the investment banker and former Football League chairman, has warned that owners looking to sell clubs – such as Liverpool’s American duo Tom Hicks and George Gillett – will have to accept that values have slumped.

Hicks and Gillett have until July to refinance the £350 million (€390m) loan from RBS and Wachovia and there have been suggestions that at least one of the banks will not agree a deal.