Football Update: Beware of the Change Liverpool Fans, Kenny Huang has offered to buy Liverpool's 237 million pound debt
Liverpool fans are a rather fickle lot. After being witness to a plethora of trophies before the inception of the English Premier League, they have had to settle with the intermittent rejoicing (thinking of the miraculous win in Istanbul in 2005 or the FA Cup triumph in dramatic fashion against West Ham a year later.)
Given the impact that Roman Abramovich had on Chelsea, by turning their fortunes around, Liverpool fans were visibly elated when a few years later, a couple of American investors came bearing gifts and promises. Of course, these were the amiable duo of Tom Hicks and George Gillett, who over the years have come to depict the worst of what can be expected of foreign ownership.
The Americans, before they arrived at the Merseyside were a beacon of light, promising massive funds for players and for a "spade in the ground within 60 years." Of course, the latter part was then promising to work on the long-due stadium, which would increase the revenue streams for the Anfield club. However, other than bringing in Fernando Torres for a large transfer fee, former manager Rafa Benitez spent more time bickering with the owners and trying to balance the books of buying and selling than focusing on tactics on the field. The currently unpopular Hicks and Gillett have been protested against and the Reds fans have just been praying that some angel might relieve them from their ordeal. Which saw them finish 7th in the league last season and only make it into the Europa League because Portsmouth were unable to meet the requirements to join in on a European adventure, due to their financial problems.
With Chinese businessman Kenny Huang, the latest name to be featured in a bid for the club, the Liverpool fans could be forgiven for daring to hope and dream. After all, Huang does come in with hopes and promises which must sound like sweet music to the Reds fans. Huang was also interested in the club around 2 years ago but chose not to go ahead with the deal. However, this time around, he says that this is the right time and according to reports, he is very serious about gaining control of the club.
Liverpool fans must have woken up to the news that a new investor was promising to buy the debt of their club and force the existing and maligned leadership. He is the head of the Hong Kong based investment company QSL Sports Ltd and has been in talks with the Royal Bank of Scotland over buying out the debt of Liverpool, which is estimated to be around 237 million pounds. According to reports, this would give him enormous leverage in order to force out the current owners, Hicks and Gillett. The current owners would also be forced out with no profit and it is to be expected that such an offer will be resisted. However, because Huang has gone directly to the bank, this puts him in a much more powerful position.
Regardless of whether the deal goes through or not, the promises of Huang sound similar to those made by the current owners. That work on the stadium will begin immediately and funds will be provided for the first team. Backed by one of the wealthiest investment funds in the Far East, Huang says he hopes for a deal in time to give Reds manager Roy Hodgson with enough funds to spend in the current transfer window.
New owners will always come selling dreams. Liverpool fans have suffered for way too long and this current bit of news might sound very good but certain cautiousness must be adopted. Hope is all well and good but it must be kept in mind that this might not happen or that even, if the deal does go through, maybe nothing will change. Maybe it will. It will be safe for the fragile Liverpool hearts to be pessimistic. It must be remembered, that after all, their current owners were also welcomed to Anfield as saviours.
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