Last Sunday was the nadir for Liverpool FC. Another demonstration by the Spirit of Shankly group at the club’s hated American owners was followed by another performance that lacked spirit and passion on the pitch. The Reds dismal 2-1 defeat to Premiership new boys Blackpool at Anfield has left Roy Hodgson’s side in the bottom three, with a meagre total of six points from seven games. Already twelve points behind leaders Chelsea, with less than a fifth of the season gone; there has even been talk of Liverpool being relegated, which is almost unthinkable. Defeat in next Sunday’s Merseyside derby at Goodison will probably cost Hodgson his job.
However, it is the drama upstairs in the Anfield boardroom which is causing the biggest unrest of all. The reluctance to sell from disgraced American owners George Gillett and Tom Hicks has threatened to take Liverpool to the brink of annihilation. Debts of over £200million, failed promises over a new stadium and a lack of transfer funds to strengthen the side have paralysed the club in the last eighteen months, with the latest humiliation, being dumped out on penalties by lowly Northampton Town in the Carling Cup.
Hicks and Gillett bought Liverpool for £218million in February 2007 from former chairman, David Moores. They made grand promises to the fans, including the creation of a new 60,000 capacity stadium on Stanley Park, which simply never looked like materialising. Liverpool’s current debt stands at £237.4million, the sort of figure that caused the downfall of Leeds United from Champions League semi-finalists to Premiership relegation in three short years (2001-2004). Liverpool’s main creditor, RBS (Royal Bank of Scotland) has given the club several extensions to pay off the debt, but has set a final deadline for next Friday; otherwise the club may end up with a nine point deduction from the Premier League for entering administration. Several takeover bids have been rejected since Hicks and Gillett put the club up for sale in April this year, including strong investment bids from the Hong Kong government and the Middle East. On Tuesday night, a deal was agreed by New Sport Ventures to buy the club for £300million, though that is well short of the overpriced £600million price that Hicks & Gillett have placed on the club. Gillett and Hicks are thought to be considering legal options.
So, what do we know about New Sport Ventures, which is another American owned company. Consequently, the fans reluctance can be seen well and truly. It owns baseball team the Boston Red Sox and a high-profile NASCAR racing team. The company was formed by John Henry in 2001 and today, is worth £943million pounds. Henry is still on the NSV board, so he would become the new chairman. Although he wouldn’t have the spending power to match the likes of Chelsea and Manchester City, his wealth would bring the chance to make Liverpool some form of a player in a transfer market and more importantly, it would clear the damaging debt.
As a Liverpool fan, the whole saga has turned into a desperate mess and has left me worrying about the short-term future, never mind the long-term proposals. This is set to run on and on, so despite the news of a new owner, the future remains well and truly a dark place on the red side of Merseyside.
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