Hicks being forced to sell up?

Last updated : 01 May 2008 By Adam Bryant
JP Morgans have told the Texan to sell up now as he struggles to avoid George Gillett selling his 50% share to DIC.

According to the Daily Express' Harry Harris a city 'insider' claims that "Hicks' bankers are getting very nervous about his ability to finance his debt. They can see a buyer for his Liverpool shares, and as there is only one out there, they are worried it might fall through. They cannot allow that to happen.

"He owes the banks, and they want him to sell up. Hicks has had his chances to raise money, but in the current markets he has been unable to do that.

"Hicks' camp continue to suggest he doesn't need to refinance until 2010, but that doesn't add up with Hicks trying as hard as he has been for some time now to find other partners.

"If Hicks can hold out until 2010, then he hasn't got the personal resources to either add anything to the transfer budget or raise more loans to build the stadium. That again applies even greater pressure to his personal financial situation."