26 Mar 2009

Gillet denies preparing to sell sporting assets

4:17 pm on 26 March 2009

The American businessman George Gillett has angrily denied reports he is considering selling his sporting assets including the Premier League football club Liverpool and the National Hockey League team the Montreal Canadiens.

Gillett says he's been doing some "estate planning" and looking at various assets to see whether they should be refinanced, sold or bought.

He says sport is a good place to be in a recssion as historically entertainment is the last business affected going into a downturn and the first coming out.

Gillett and and co-owner Tom Hicks have endured a stormy relationship since taking control of Liverpool two years ago with neither man prepared to sell his stake to the other.