Tom Hicks and George Gillett have concluded a deal to re-finance the bank loan they took out to buy the club in 2007.

According to a source close to the Americans, the deal is believed to be for another year and will require them to pay back £60m of the original debt.

Hicks and Gillett have reduced the £290m they owed to £230m, with £60m being repaid, half immediately.

Tweet your reaction to @liverpool