Friday, 8 October 2010

Debt, Lies and Cowboys

Anyone who knows me, will tell you of my passion for the Mighty Reds of Anfield, it is one of the great sporting institutions in this country.

Liverpool FC has a wonderful history, from that night in Rome to Istanbul, or those 18 league titles.

Sadly for the last three years this great football club, that for years was ran 'the right way', has been owned on borrowed money by Tom Hicks and George Gillette.

These two gentlemen encapsulates the sickness of modern capitalism.

They bought Liverpool FC on borrowed money, when banks borrowed to anyone and money was too cheap and the cost of repayment was also cheap, they made promises of not to place any debt on the football club, build a new stadium and money for new players. Now debt is expensive they cannot afford Liverpool Football Club.

Their first action was to place £280million of debt against the club, no stadium and the last three transfer windows LFC has delivered a profit to the Clubs owners.

We are now in the endgame.

Martin Broughton the independent chairman, who was brought in to find a buyer who claims to have undertakings to sell Liverpool FC from Hicks and Gillette along with Christian Purslow and Ian Ayre, have found a buyer.

Hicks and Gillette have tried to remove Purslow and Ayre from the Board at LFC and replace them with their own stooges.

So next week this mess will go to the High Court, if the courts back the Chairman, LFC will have new owners, if the courts backs Hicks and Gillette and they cannot refinance as they haven't managed in the previous twelve months, the club will be in administration this time next week.

LFC will then be deducted 9 points, the banks presumably would sell to the current buyers.

Football a working class game, treated as a play thing by businessmen with no interest in the beautiful game.

My advice to Tom and George is respectfully, hold your heads up high and leave this mighty proud club, the damage done will be repaired, I can end my boycott of Anfield and I will again buy the replica shirt, I can again sing about the glories around the fields of anfield road.

Debt, Lies, Cowboys Tom and George not welcome here.

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