Reds supremo loses billionaire status

Reds supremo loses billionaire status

Published Mar. 12, 2010 5:41 p.m. ET

The Texan businessman now an estimated fortune of around 950 million US dollars (£620million). The American - who also owns the Dallas Stars ice hockey franchise - has already agreed a deal to sell the Texas Rangers baseball team for £310million. However, he appears in no hurry to offload his 50 per cent share in Liverpool, despite increasing pressure from disillusioned fans against the way he and co-owner George Gillett have run the club. "We all know about his problems with his sports clubs here in the US and over there in England," Forbes' senior editor Matthew Miller told the Liverpool Echo. "He has had some debt problems. He has only just missed the cut (to be classed as a billionaire). We think he is a 900million to 950million US dollars guy." Hicks and Gillett owe Royal Bank of Scotland £237million and have been unable to raise the money needed to build the club's proposed stadium at Stanley Park. They looking to raise £100million through outside investment by the summer as RBS have requested they slash the amount of their debt.

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