Apr 10 2010 by Dominic King, Liverpool Echo
LIVERPOOL co-owners Tom Hicks and George Gillett are on the verge of appointing Martin Broughton, the head of British Airways, to become the club’s independent chairman.
Hicks and Gillett, both of whom were at Anfield on Thursday night to watch the Reds demolish Benfica in the Europa League, have been in Britain since Tuesday discussing a number of issues with their advisers, most notably investment.
The appointment of an independent chairman, though, has also featured heavily in their talks and, after much deliberation, Broughton is understood to be the man they want to step in. Liverpool officials will not comment on the subject but it is understood Broughton has held talks over the position and is set to be appointed to the role at some point in the next week. Where he will be based remains unclear. Broughton, a 62-year-old from West London, has been with BA since 2000 – he was on the board for four years before becoming chairman in 2004 – but he has a considerable background in sport, as he chaired the British Horseracing Board between 2004-2007.
He was also chairman of British American Tobacco when it launched the BAR Formula One team in 1999.
Such a move on Hicks and Gillet’s behalf makes sense, particularly if they are to find a minority investor to help reduce the club’s current £237m debt.
Reds Managing Director Christian Purslow has been attempting to bring in third party investment for months but the only confirmed interest so far has come from the Rhone Group, a private equity fund, who offered £113m for a 40 per cent stake last month.
Hicks, in particular, was reluctant to accept that figure but there are still several interested parties who have increased their interest in buying a stake since news of Rhone’s interest emerged.
LIVERPOOL co-owners Tom Hicks and George Gillett are on the verge of appointing Martin Broughton, the head of British Airways, to become the club’s independent chairman.
Hicks and Gillett, both of whom were at Anfield on Thursday night to watch the Reds demolish Benfica in the Europa League, have been in Britain since Tuesday discussing a number of issues with their advisers, most notably investment.
The appointment of an independent chairman, though, has also featured heavily in their talks and, after much deliberation, Broughton is understood to be the man they want to step in. Liverpool officials will not comment on the subject but it is understood Broughton has held talks over the position and is set to be appointed to the role at some point in the next week. Where he will be based remains unclear. Broughton, a 62-year-old from West London, has been with BA since 2000 – he was on the board for four years before becoming chairman in 2004 – but he has a considerable background in sport, as he chaired the British Horseracing Board between 2004-2007.
He was also chairman of British American Tobacco when it launched the BAR Formula One team in 1999.
Such a move on Hicks and Gillet’s behalf makes sense, particularly if they are to find a minority investor to help reduce the club’s current £237m debt.
Reds Managing Director Christian Purslow has been attempting to bring in third party investment for months but the only confirmed interest so far has come from the Rhone Group, a private equity fund, who offered £113m for a 40 per cent stake last month.
Hicks, in particular, was reluctant to accept that figure but there are still several interested parties who have increased their interest in buying a stake since news of Rhone’s interest emerged.
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