Liverpool co-owner George Gillett is to sell one of his major assets in a deal which could ease financial pressures at the Premier League club.

He is selling his stake in the NHL’s Montreal Canadiens in a deal reported to be worth at least $550m (£332.9m). Mr Gillett, and fellow Liverpool owner Tom Hicks, have until 24 July to repay £350m they owe to RBS and Wachovia.

Latest accounts show Kop Holdings, the parent company of the Anfield club, lost £42.6m in the year to August 2008. Interest payments on loans accounted for £36.5m of Kop’s losses.

Categories: US Markets, World Economy
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