Liverpool double their debt

[davek]

Liverpool Echo.co.uk - Liverpool FC - News - Liverpool FC in profit - but club's debts have doubled

From £44M to £86M. Which is nice. Looks like the increase comes mostly from spending on players and their wages. Oh, and "dem Yanks" pumped £58M into the club. Complete swines..."we want DIC" etc etc.

 

[Dom1878]

Im not understanding that well...

...Why, if they are in debt, are they able to have a large transfer fund? Similar with many other teams, where as Everton have a tiny transfer fund, but little debts?

 

[Tennessee Blue Mike]

It's all about perception and marketability. Bankers are fickle in their dealings.

 

[Goat]

Im not understanding that well...

...Why, if they are in debt, are they able to have a large transfer fund? Similar with many other teams, where as Everton have a tiny transfer fund, but little debts?

Mainly because their owners have the ability to pay of the debts. If need be.

And that report said that they had a turnover of over £150m. Which is fairly healthy.

 

[Nebbiolo]

Liverpool Echo.co.uk - Liverpool FC - News - Liverpool FC in profit - but club's debts have doubled

From £44M to £86M. Which is nice. Looks like the increase comes mostly from spending on players and their wages. Oh, and "dem Yanks" pumped £58M into the club. Complete swines..."we want DIC" etc etc.

Hmm, and a new £400m stadium won't help either. Oh, I forgot, they'll be staying at tin pot Anfield (why do Liverpool fans **** Goodison when Anfield is such a dump?)

 

[Bruce Wayne]

I havn't checked out figures for a while so my recollection may be hazy, but don't we have debts of around £60m on much less turnover?

 

[The Esk]

At the 31 May 2008 (last accounts) total debt (excluding trade creditors) was around £56 million

 

[Neiler]

Hmm dont the owners have a personal debt they used to buy the club, isnt that due to be paid or refinaced in June.

 

[TX Bill]

I thought I read somewhere recently over here that Hicks was trying to sell his interest in one of his American sports teams. Would link it but too lazy. Ah...screw it.

Hicks open to selling control of Rangers | MLB.com: News

 

[davek]

BBC NEWS | Business | Liverpool FC owners lose £42.6m


"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."


It's shaping up to be a cracking summer over the Park. £2M bids for 32 year old centre backs tend to point to the urgency of the situation.

 

[Goat]

Happy days, but sadly if it all gets too much they will just go running to DIC for a bail out.

 

[davek]

Happy days, but sadly if it all gets too much they will just go running to DIC for a bail out.

Oh yeah, deffo no shortage of takers for that club. It'll be great to see the turmoil that results though. Think of how many more seasons Rafael could get out of that mess!!

 

[davek]

Liverpool Echo.co.uk - News - Liverpool Local News - George Gillett & Tom Hicks: We owe less than rival clubs - Liverpool FC latest

God bless those crazy Americanos.

 

[Screech]

Nice sig

 

[teppic]

it's good reading, but it's clear they will not be in any real trouble long term.

if these guys hang on for a while and start selling a few players it will screw this season up for them though.