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Thursday 8 December 2016

Reds step up cash hunt

Rory Smith

Published 12/01/2010 | 05:00

LIVERPOOL'S owners Tom Hicks and George Gillett yesterday moved to break the deadlock which has engulfed the club for more than a year by announcing a reshuffle of the club's board in the aftermath of the resignation of director Tom Hicks Jr.

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Hicks Jr will be directly replaced by Casey Coffman, a trusted lieutenant of his father. Ian Ayre and Philip Nash, Liverpool's commercial and finance directors, have also been appointed to an expanded board of seven.

Christian Purslow, the club's managing director, has been tasked with finding an investor, or several, to take a 25pc stake in the club for £100m before the end of March.

The club hope that a cash injection will enable work on a new stadium, dormant for nearly 18 months, to resume.

Those aims will be far easier to accomplish with a board not mired in the inertia created by the feud between the Hicks and Gillett camps.

It is a measure of the control now wielded by Purslow in particular that the club has been able to act so decisively; the changes bode well for Liverpool's hopes of securing the money needed to move forward after 18 months of stagnation.

Irish Independent

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