Reds’ US owners agree restructuring of bank loans

LIVERPOOL’S American owners have concluded a deal to re-finance the bank loan they took out to buy the club in 2007.

Co-owners Tom Hicks and George Gillett are not expected to issue a statement, but the deal is believed to be for another year and will involve them paying back £60m (€70m) of the original debt.

Negotiations between the Royal Bank of Scotland (RBS), Wachovia and the owners have continued for months with the worldwide credit crunch making them tortuous.