Gillett tight-lipped over sale

Gillett: Keeping quiet

With regard to what we're doing we would not have any comment on that - there has already been enough speculation.

Liverpool co-owner George Gillett
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Liverpool co-owner George Gillett has refused to comment on rumours that the Premier League leaders are up for sale.

In a joint move with Tom Hicks, Gillett bought the Reds in February 2007 but the American duo have endured a turbulent time on Merseyside.

Speculation has persistently suggested that the pair - who need to restructure their £350million loan with the Royal Bank of Scotland (RBS) in January - are looking to sell, and conjecture has gathered pace in the wake of the credit crunch.

RBS is currently under public ownership and will only restructure loans in extremely favourable conditions, suggesting Hicks and Gillett will struggle to renegotiate and could look to sell.

But Gillett remains tight-lipped, saying: "The stories feed on themselves and some are made up.

Difficult

"With regard to what we're doing we would not have any comment on that - there has already been enough speculation on that."

However, Gillett is confident Liverpool and all Premier League clubs are in a stable position, despite worldwide financial difficulties.

"I don't know all of the facts. What I read is not in the newspapers because it is an unreliable source - what I am looking at are other financial filings which I think are more reliable," Gillett added.

"There are certain sports which have felt the impact. It's a good time to be cautious but it's a bit early to write the obituary of professional sports."

Gillett also admitted that plans for a new stadium have not been shelved permanently and revealed his relationship with Liverpool fans has improved.

Upset

"There are some of things which have happened which have upset the fans and got them mad at Tom and myself," Gillett told Toronto Sport's Radio.

"At this point, based on the media that we are seeing and an awful lot of the fan communication, I think they are at a point now where they are allowing the boys to demonstrate their skill.

"And also to allow (manager) Rafa Benitez - who is one of the great coaches - to do his thing and we just want to leave it that way and we will operate behind the scenes and let the club do the talking."

On the stadium Gillett added: "We put it off on a temporary basis and we continued to invest substantial money every month in both engineering, architecture, planning, approving and zoning."