https://www.theguardian.com/football/blog
I missed this point at the time but I struggle to see how there was a bailout of any kind. RBS lent money to Hicks/Gillette, then took them to court to get all of the money back in the same way any commercial lender would do. The club was then sold to Fenway and all the loans fully repaid.
A bailout is when a company, football club in this case borrows money as can no longer finance itself, exactly the position liverpool found themselves in with Hicks and Gillette, the money is borrowed to them on condition they sold the club within six months, why you think this was not a bailout is beyond me as the club needed the money or to be sold ASAP to carry on operating as they were only able to service the debt they were in, A BAILOUT.
Also due to the ongoing issues worldwide financial situation at the time, many people though that a government owned bank had better things to lend public money to then a football club bought by two chancers who were then supported by public money.
As above link states, without being sold liverpool would more than likely of entered administration that very week, the money your current owners paid was only to clear The RBS debt and they pretty much bought liverpool for free other than the debt repayment, even though at the time there was legal argument over two other bids which were greater than the Fenwick bid, but due to liverpool board inside dealings were ignored, so liverpool bankrupt, owners supported by public money, inside dealing on the board for the lowest bid, a public owned bank excepting just debt repayment when they could have actually sold for a profit, all to avoid liverpool going into administration, BAILOUT.
The RBS loaned public money to liverpool’s owners and then had to take them to court as those very same owners were going to enter administration and fuck off much of that public money, and then when the RBS took them to court to get the money back, still ended up selling it for the least bid as board members had obviously made backhanded deals with the current owners, the liverpool way la...