SELLING UP ... George Gillett and Tom Hicks

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LIVERPOOL co-owners Tom Hicks and George Gillett will finally announce plans to officially put the Reds up for sale this week.
But before fans desperate to see the back of the Americans crack open the bubbly, they could still be in for a long wait.

For Hicks and Gillett will also reveal details of a new refinancing package that effectively ends the need for a fire sale.

The pair were faced with a June 31 deadline from the Royal Bank of Scotland, who have said they will call in debts of £237million unless that figure is reduced by £100m.

That had left Hicks and Gillett with an ultimatum to sell at least some of the club quickly, to raise the money demanded.

But RBS are now willing to offer a six-month extension.

The two Yanks have also been in secret talks with Barclays Capital, who are set to offer a three-year refinancing package worth up to £300m.

That will allow them to settle debts with RBS AND have money left over for summer transfers, as well as paving the way to finally start work on a planned new stadium.

British Airways chairman Martin Broughton will also be announced this week as an independent, non-executive chairman - charged with finding new owners over the long term.

The duo's statement will also hint that significant funds will be offered to boss Rafa Benitez to strengthen in the summer, despite the squad's failure to keep up with their Big Four rivals this term.

The Sun.