British Airways chairman Martin Broughton has entered final negotiations with Liverpool co-owners Tom Hicks and George Gillett to become the chairman of the club.
By Paul Kelso @telegraph
Published: 10:15PM BST 09 Apr 2010
Telegraph Sport disclosed on Friday that Broughton had been sounded out about becoming independent non-executive chairman at Anfield, and he is understood to be close to accepting the post.
Broughton is thought to have discussed the terms of his contract and the responsibilities required with the Americans and may make a decision as soon as the weekend.
Hicks and Gillett are co-chairmen of Liverpool but want to step aside in favour of a credible British businessman to improve the club’s standing in the financial community, and draw some of the sting from the supporters’ criticism.
The move comes as the American owners continue to seek fresh investment to meet a demand from their banks, The Royal Bank of Scotland and Wachovia, that the club debt be reduced by £100 million from £237 million.
As well as chairing BA, Broughton is a former chairman of British American Tobacco and the Confederation of British Industry.
Alongside football his major sporting interest is racing and he was chairman of the British Horseracing Board for three years from 2004-2007.
If, as expected, he is confirmed in the post it will mark a significant development ahead of the bank refinancing deadline on June 31.
Club managing director Christian Purslow has previously said that five or six parties remain interested in taking a stake in the club, but price remains a sticking point.
The Rhone Group, a New York-based private equity fund, tabled a £105 million bid for a 40 per cent stake in the club last month, but a deadline for the deal to be accepted passed on Monday.
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