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They only finished 19th last season but after Sven Goran-Eriksson’s shock arrival at Notts County, the Pies are among the favourites for League Two glory – will the Swede make a difference.

Liverpool, which owes two banks £350m, has renegotiated its debt with the Royal Bank of Scotland.

Club owners Tom Hicks and George Gillett are believed to have extended the £290m RBS debt for another year, but agreed to pay back £60m.

Negotiations between RBS, Wachovia and the owners have been prolonged, with fears the banks may call in the loans and threaten the short-term funding of the club.

Latest accounts show Kop Holdings, the parent company of the Anfield club, lost £42.6m in the year to August 2008, with interest payments accounting for £36.5m of those losses.

Meanwhile, the owners have failed to find the money to build the club’s new stadium, with preliminary work on the Stanley Park venture halting last season.

They only finished 19th last season but after Sven Goran-Eriksson’s shock arrival at Notts County, the Pies are among the favourites for League Two glory – will the Swede make a difference.

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