A U.S. hedge fund is suing former Liverpool co-owner George Gillett Jr. over what the firm says is $117 million in debt he racked up investing in the Premier League soccer club.

Gillett didn't immediately return a call Friday about Mill Financial LLC's lawsuit. It was filed Thursday in New York.

Documents filed with the lawsuit show a Gillett company borrowed $70 million from Mill Financial in 2008 and agreed to pay 19-percent-a-year interest.

Gillett later agreed to hefty fees to extend the repayment date.

The firm says he's repaid only about $430,000.

Boston Red Sox owners John Henry and Tom Werner bought Liverpool in October.

The Royal Bank of Scotland engineered the $476-million deal after Gillett and co-owner Tom Hicks couldn't make debt payments.