Liverpool Owners Granted Extra Time To Repay £350m Loan

Tom Hicks and George Gillett have been granted a six-month period of grace to repay £350.5m to Liverpool's lenders. Those funds, provided last January as "working capital" to run Liverpool and including £60m towards constructing a new stadium, were due to be repaid or refinanced by 25 January. But the banks – the government-owned Royal Bank of Scotland and the US investment bank Wachovia – have deferred the deadline.