Donald Trump presidential election defeat may have knock-on affect for Liverpool

Defeat for Donald Trump in the US presidential elections could impact Liverpool’s future.

The American public head to the polling stations today to decide whether they want Trump to continue as president or Joe Biden to take over at the White House.

Liverpool owner John Henry is currently trying to secure a £6bn deal with American investment firm RedBall Acquisition over a possible merger.

And, should Biden win the election, that deal could be sped up with the candidate looking to raise capital gains tax from 23.8 per cent to 43.4 per cent.

It may make Henry, Gerry Cardinale and Billy Beane eager to shake hands on a deal even sooner, amid hopes that it will be complete by the end of the year.

Andrew Zimbalist, an economist at Smith College in Boston, Massachusetts, and member of the editorial board of the Journal of Sports Economics, explained to the Liverpool Echo: "A motivation in the United States is to take some of the capital gain that John Henry and Tom Werner have experienced and realise that capital gain prior to the, hopefully, new administration that comes in January.

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"Joe Biden has talked about raising tax rates, which were lowered substantially under Trump. Therefore you want to be able to realise your capital gain before that tax rate was lifted.

"If Biden wins then he would become President on January 20 and it would take some time before he would introduce capital gains legislation.

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"There are some more pressing issues that he has to deal with. Once he introduces the legislation it would take a couple of months until it was passed and then it most likely wouldn't be enforced until the following year, meaning January 1 of 2022.

"That window might close more quickly but it also might be open for another 14 months, roughly."

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