A few observations here.
There has never been any evidence that G&H would fail to refinance in July - just "hope" and speculation.
Although Gillett will raise about £330m from the sale of the Canadiens, his profit is around £165m. Hicks may raise around £116m from the sale of Texas Rangers, leaving a profit of around £50m. So that is £495m liquid, £166m profit.
A current acceptable LTV commercially is 70%, so for a £330m debt the banks may be looking for a £50m stake each from G&H. In 2006 their combined wealth was estimated at around £1.8bn, the sticking point has never been whether they have the money, it has been whose money they would use.
Even with £50m each from G&H "in" the club - they can still use it as security against other ventures. The speculated guarantees of £185m are just that. No cash changes hands.
My certainty that refinance will be secured remains.It looks as though they may also be tooling up to finance a new stadium too, suggesting that they will be around for some time yet.