The turmoil surrounding Liverpool continued yesterday amid growing fears that the proposed “rescue plan” from Dubai International Capital (DIC) will be abandoned if Tom Hicks, the unpopular co-owner, proceeds today with a £350 million refinancing package that will plunge the club deep into debt.

Despite the grave misgivings of George Gillett Jr, his co-owner, and of the Liverpool board, Hicks intends to press ahead with a refinancing plan that has been agreed in principle with their bankers, the Royal Bank of Scotland and Wachovia. That plan, to transfer the duo’s existing £300 million debt to the club, will leave Liverpool facing annual interest payments in the region of £30 million, but the greater concern in the immediate term is that it may drive away DIC, the private-equity investment arm of the Dubai Government, which is regarded by many at Anfield as the potential “saviour” of the club.

There was optimism at Liverpool last week that Gillett, who is regarded as the more benign of the two owners, may be persuaded to veto the refinancing plan or that he may join forces with DIC in a bid to buy out his business partner. The expectation now, however, is that Gillett will reluctantly put his name to the refinancing package, which is regarded by the Americans as a means of stabilising their troubled regime at Anfield, at least in the short term, allowing them to proceed with plans to construct a new £300 million stadium on Stanley Park.

There is little doubt that Hicks and Gillett, faced with spiralling costs and hostility from the club’s supporters, are losing their appetite for the challenge they took on at Liverpool only 11 months ago, but they will not be forced into a quick sale.

Although they have held informal negotiations with DIC through a third party, they have no intention of selling unless they make a profit on their initial £234 million investment. They have already informed their bank that a proposed £300 million offer from DIC will be rejected out of hand.

The uncertainty at the club – not least over the future of Rafael BenÍtez, whose long-term position as manager appears untenable under the present regime after his much-publicised fall-out with Hicks – made for an unusually hostile atmosphere as Liverpool prepared to take on Aston Villa in the Barclays Premier League last night. After recent events, many supporters headed to Anfield preparing to direct their anger at the owners.

The “Reclaim the Kop” campaign has been influential in orchestrating the protests against the owners. In a prematch statement, it said: “These two . . . are not fit to be associated with our club. The current situation is unworkable. Rafael BenÍtez, with his ingrained sense of honour, dignity and morality, has been publicly humiliated by Hicks and Gillett. Rafa would have walked away by now but for one small thing the Americans will never ‘get’: he loves it here.”

Regardless of his wish to stay, BenÍtez appears certain to leave at the end of the season if Hicks and Gillett remain in situ. The Spaniard’s position was severely unstable even before Hicks admitted last week that he had held talks with Jürgen Klinsmann, the former Germany coach.

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“Are we going to be the first real cautionary tale about the perils of foreign investment? An owner no one wants, unwilling to sell. A manager who is a hero to fans quits and is replaced by an unpopular manager. Players leaving and inadequate replacements signed.” football365.com

“Rest assured, though, that DIC had the money to do what was necessary for LFC. In hindsight, G&H’s [Gillett and Hicks’s] more ‘down to earth’ rhetoric was the ideal foil to DIC’s business speak. Talking about history and tradition and respect was exactly what we wanted to hear.” football365.com

“At this moment in time we all want DIC to buy us out because we think the grass will be greener. We don’t know what their intentions are.” lfconline.com

“As I say, I’m hopeful he [Hicks] is just trying to get a better price out of DIC. My natural pessimism, however, keeps whispering the word ‘Leeds’ at the back of my mind.” football365.com

“Perhaps the only way to make this idiot [Hicks] leave our club is to stop buying any merchandise for a while.” lfconline.com

“I’d rather LFC were owned by a Chinese chip-shop owner than this pair of clowns!” redandwhitekop.com

“It’s resembling one of those horror movies where the girl is running from a slasher in the woods, only to end up in the arms of a cop who turns out to be a psycho.” redandwhitekop.com

“If we keep getting fourth spot by the skin of our teeth, these two will never leave until the new stadium is built. Which means years of misery – so not qualifying this year might help them to see sense and depart.” redandwhitekop.com