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Apparent Good News For Liverpool Fans

Tom Hicks' scheme to gain full control of Liverpool FC has hit a roadblock. GSO Capital Partners, the firm initially interested in supplying him with high interest credit, has backed off.

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Hicks had hoped to secure a $437 million financing package from Blackstone subsidiary GSO Capital Partners and share control of the club, in a move that would have prevented a quick sale of Liverpool.

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But Blackstone is no longer pursuing its interest in Liverpool after considering an initial deal, a person familiar with the company's plans told The Associated Press. The person spoke on condition of anonymity because negotiations were private.

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Hicks and co-owner George Gillett Jr. are facing an October deadline to repay the club's $370 million debt to Royal Bank of Scotland.

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With most - if not all - Liverpool supporters desperate for Hicks and Gillette to sell the team, this news is viewed as positive, even if the team may not have immediate funds to add talent to the roster in January.

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Photographs by jamesbrandon, jdtornow, phlezk, flygraphix, mcdlttx, tomasland, and literalbarrage used in background montage under Creative Commons. Thank you.