Spending out on players this summer Liverpool?

[Mod]

I guess many clubs lose millions but still good to hear some good news all the same! :(

The parent company of Liverpool FC, owned by Tom Hicks and George Gillett, lost £42.6m in the year to August 2008.

The loss was mainly due to the £36m of interest payments that Kop Football Holdings had to make to service the debt taken on to buy the club.

Its auditors warned that the need to refinance loans by 24 July cast "significant doubt" on the future of the group as a going concern.

But they added the club's owners were confident they would secure the funds.

The US owners bought Liverpool in February 2007, promising to build a new stadium.

In their accounts, they say they are "committed to building a new stadium and actively seeking funding to complete the project".

But they admit that "the opening of the new stadium will be delayed until 2012".

The parent company's loss came despite the £10.2m pre-tax profit reported by the football club in the same period.

The profit was helped by increased television revenues and the sale of players such as Peter Crouch, John Arne Riise and Scott Carson.

The results for the parent company showed net debt on 31 July 2008 of £300m.

Source

[geezer]

If the parent company go bust do Liverpool get the same treatment as Southampton?

[Englishman]

If the parent company go bust do Liverpool get the same treatment as Southampton?

Did AFC Wimbledon get the same treatment as West Ham?

[Virosh]

The scouting genius of Rafa is at its best again. I've read they are to make bids for... Tuncay from Boro and Distin from Pompey.

Seriously ? Even for bench warmers ?

I hope he is their manager for a long, long time, thats all I can say.

Edited June 4, 2009 by Virosh

[Backbiter]

If the parent company go bust do Liverpool get the same treatment as Southampton?

Here's what will happen: they will have to kick off all their pre-season friendlies with a three-goal deficit. No points deduction will be applied in the Prem because the failure of the holding company will have occurred in the close-season.

I can't think why I'm cynical where the FA and Victimpool are concerned.

[VanBlue]

I wouldn't be surprised to see the team sold within a year

[TheWestwayWonder]

I think van blue is right. This is going to pave the way for a sale within the next year. However, new owners are going to have to stand up and take note. Hicks and Gillet thought LFC was going to be a cash cow for them, but a combination of no trophies, the new stadium and Liverpool just not being the biggest cash cow on the block will make other investors wary.

Hicks and Gillet own baseball and hockey teams in North America, and the rumors are that all three franchises are being aired to potential investors. If that happens, this situation might change.

Either way, it might be a rough summer for the dippers

Edited June 5, 2009 by TheWestwayWonder

[cassiya]

When I was in Canada in March, this made front page news

http://www.cbc.ca/sports/hockey/story/2009...diens-sale.html

[dkw]

oh dear, what a pity, never f**king mind the horrible muck. new song for next season

"YOU`LL NEVER GET A LOAN"

[rahul]

oh dear, what a pity, never f**king mind the horrible muck. new song for next season

"YOU`LL NEVER GET A LOAN"

[geezer]

Now even Mark Lawrenson is saying he fears a Liverpool decline. This story is getting better and better by the day.

[PloKoon13]

Now even Mark Lawrenson is saying he fears a Liverpool decline. This story is getting better and better by the day.

Nothing like a good old case of Scousenfreude!

[g3.7]

Scousenfreude

that is top work, sir.

[Sheva]

It wont be long until some middle east business buys them out and they become the richest team in world football. Then the scousers will moan saying they didn't buy the league because they still ave they istery

[Backbiter]

Lofty's alter ego posts on the Guardian Blog (as kingofthehill):

Liverpool Football Club. The equivalent of the rich guy who loses all his cash on a bad investment and now sits in a bar getting drunk, living on benefits, while telling other losers what he used to have "back in the old days" and of course how "one day i'll get it all back"..he never does..

[Carefree]

;)

Went on RAWK a few minutes ago and a lot of them think its just a plan and that Tubby will say that they're signing Silva or Villa:D

[dkw]

:D

Went on RAWK a few minutes ago and a lot of them think its just a plan and that Tubby will say that they're signing Silva or Villa:D

oh dear. we really need an emoticon of an ostrich burying its head in the sand for situations like this....

[geezer]

I'd truly love them to go the way Leeds did.

[charierre]

we could always help them out by taking Torres of their hands

[loz]

we could always help them out by taking Torres of their hands

Now that would amuse me. Real Madrid put in offers for Alonso and Gerrard, Barca go for Torres and Mansfield bid for Dossena - all offers accepted by the owners with no money getitng given to Benitez to spend. The joy of the scouser's reaction on froums would keep us entertained all summer.

[Virosh]

Now that would amuse me. Real Madrid put in offers for Alonso and Gerrard, Barca go for Torres and Mansfield bid for Dossena - all offers accepted by the owners with no money getitng given to Benitez to spend. The joy of the scouser's reaction on froums would keep us entertained all summer.

All summer ?! I'd plaster my walls with quotes from Scum's forums and I'd use the excess copies as toilet paper.

Yes, I hate them that much it is sad. So what ? ;)

[VanBlue]

We have all seen things like this

We had some articles the last 2 years about how Chelsea was going to go under

We have seen articles about United and Liverpool saying the same thing

They are all different situations that can be dealt with if the right advisors get the clubs brass together and put together a plan that actually puts forth a future of slight payback, even nominally modest.

Liverpool is in a tough spot but with new owners, the debt is still VERY managable.

[geezer]

We have all seen things like this

We had some articles the last 2 years about how Chelsea was going to go under

We have seen articles about United and Liverpool saying the same thing

They are all different situations that can be dealt with if the right advisors get the clubs brass together and put together a plan that actually puts forth a future of slight payback, even nominally modest.

Liverpool is in a tough spot but with new owners, the debt is still VERY managable.

Spoil our fun why don't you?

[Ruh Buh Juh]

We have all seen things like this

We had some articles the last 2 years about how Chelsea was going to go under

We have seen articles about United and Liverpool saying the same thing

They are all different situations that can be dealt with if the right advisors get the clubs brass together and put together a plan that actually puts forth a future of slight payback, even nominally modest.

Liverpool is in a tough spot but with new owners, the debt is still VERY managable.

But the difference is, that they're actually in serious debt, Manure are something like £200million thanks to the Glazer's (no, seriously, thanks :D), and Liverpool are a bit better off, but not by much.

[dkw]

Liverpool is in a tough spot but with new owners, the debt is still VERY managable.

but thats the point, at the moment it isnt. they have a loan that isnt serviceable, unlike man utds which at the moment is. plus the yanks will now have to finance the staidum against the club, which is exactly what they said they wouldnt do and will saddle the club with a debt of £500 million or more. this will mean they must get into the champions league proper or they will be in deep sh*t and will be in the same situation as leeds. miss out one year and they wont cover he loan, and with teams like city spending a lot of money the top 4 finish will be more competetive than ever. there geezer, that should cheer you up.