Blackstone backs out of Tom Hicks refinancing bid

Lets face reality. Liverpool supporters want Tom Hicks gone but fact is that the legendary leveraged buyout specialist is not going to walk away without making some money out of a deal.
This was pretty much what scuttled potential Liverpool suitors all summer long. It’s all very well to shout “Thanks but no Yanks” but the fact of the matter is that a successful re-financing buys more time to find a more suitable owner. Hicks is a distasteful figure but fans are advised to hold their noses. With Blackstone out of the picture the October deadline could takes on a far more grievous import. RBS could claim all player sale proceeds go back to paying back the debt leaving no new transfer money. In its most extreme, Liverpool might be subjected to the first steps towards administration.

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