Liverpool FC appoint new chairman as sale looms
“We have now decided together to look to sell the Club to owners committed to take the Club through its next level of growth and development.”
It was the statement that Liverpool supporters never thought they’d see.
After over three years of boardroom battles, supporter protests and often more attention being paid to the financial pages than the sporting ones, owners Tom Hicks and George Gillett have officially put the club up for sale, appointing British Airways boss Martin Broughton (pictured) as an independent chairman and engaging Barclays Capital to advise him and the club as they actively seek new ownership across the globe.
There have already been “numerous expressions of interest from third parties” said the club, with the latest rumours linking Syrian, Indian and Chinese multi-millionaires with bids. For the club’s supporters, it’s not before time.
The club is £245million in debt, still owing £100million to the Royal Bank of Scotland and after a season that has seen the off-field issues become on-field problems, Liverpool have been simply treading water for too long. It wasn’t always like this though.
Hicks and Gillett were welcomed into Anfield with open arms back in February 2007. They spoke warmly, eloquently and with a genuine sense of wonder about the club. Gillett only slipped up once when he used the dreaded word “franchise”, but he was forgiven. Naivety, thought supporters. In reality the alarm bells should have been ringing then.
Three and a bit years later, all manner of upheaval and turmoil have dragged a club that once prided themselves in keeping their dirty laundry well hidden into this desperate wasteland that they now find themselves in.
This season it has been the team who has suffered, with Rafael Benitez only allowed to spend what he brought in over the summer, and denied any funds to help an ailing squad in January – when he could only bring in the free Maxi Rodriguez.
The Spanish boss has made mistakes, as he admitted recently. He should have to answer to them, as should his underperforming players – and new owners could mean a new manager and a new set of players next season – but while at most clubs last season’s second placed finish with 86 points (Manchester United can only finish with 85 this season) would have been the perfect springboard on which to invest, build and improve, Liverpool have gone so far backwards that they now find themselves shorn of all confidence, bankrupt and worse off than when Benitez joined the club.
Today’s announcement means that that could soon change.
It won’t be a quick fix, and nor should it be. Most supporters should welcome that given what happened the last time the Reds rushed into an ownership decision.
A fee still needs to be agreed, which could take some time, and it might be next season until the handover is completed.
For supporters though, at least there is now a light at the end of the tunnel. They should still be cautious, but with BA’s Broughton on board they’ll hope their club will soon be flying high again.
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