Liverpool FC deal soon, amount may change

LONDON (Reuters) – The keenly awaited refinancing of British soccer club Liverpool FC is set to be closed before the end of February, a source familiar with the deal has said.

The 300 mln pound ($589 mln) debt refinancing, expected to be completed by the end of November, has been delayed amid turmoil in the credit markets.

Banks, facing multi-billion pound losses linked to the U.S. sub-prime crisis, have tightened up lending, or are charging more to assume risk.

The deal will go ahead, although it may not include an additional amount, of about 40 mln pounds, earmarked for the start of building a new stadium, the source said.

Liverpool’s debt facility with Royal Bank of Scotland, taken out by U.S. billionaires Tom Hicks and George Gillett to acquire the club, expires in February.

Wachovia Corp, the fourth-largest U.S. bank, is arranging the refinancing.