Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Liverpool owner Hicks loses billionaire status

Pa
Friday 12 March 2010 11:59 GMT
Comments
Hicks is no longer a billionaire
Hicks is no longer a billionaire (GETTY IMAGES)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Liverpool co-owner Tom Hicks has lost his billionaire status, according to Forbes magazine's latest rich list.

However, the Texan businessman was still ranked 701st richest man in the world, with 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% 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.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in