Liverpool granted extension on debt pile after nightmare season

PREMIER League club Liverpool, put up for sale by its US owners last month, has been granted an extension on its debt pile under a deal brokered by its new chairman.

A minimum 12-month extension had been granted on £237m of loans from Royal Bank of Scotland, giving loss-making Liverpool until the end of next season to pay back the debt.

The latest extension is understood to have been arranged by Martin Broughton, the British Airways chairman brought in to oversee the club’s sale.

Liverpool will not be playing in the lucrative Champions League next season after a campaign that has gone from bad to worse.

They went out of Europe’s elite competition at the group phase and finished seventh in the Premier League.

Both Liverpool and RBS declined to comment.

Meanwhile, as protests against Manchester United owners the Glazer family stepped up at the last game of the season yesterday, the club revealed it turned down a £1.5bn bid for the club.

The news was leaked just days before a £1.2bn fan-backed bid for the club is expected.