Liverpool will not go bust
Christian Purslow, the Liverpool managing director has insisted that the club will not go bust and that there are still a number of potential investors interested in taking over the club.
Co-owners Tom Hicks and George Gillett owe £237 million to the Royal Bank of Scotland. In October, the two owners must either repay or renegotiate the loan.
Purslow was answering questions on the Liverpool website in the hope of calming supporters who have heard constant rumours that the club will be bust if they do not find a potential buyer soon.
Purslow said, “Liverpool Football Club is not going bust. Liverpool Football Club is a very healthy business. We have cash, we are solvent, we have banking facilities which will last beyond the end of next season and we are heavily scrutinised by the Premier
League.”
He also added that, “we have an extremely healthy business with record revenues and we are highly profitable so I cannot conceive of a situation where Liverpool would go into administration.”
The problem for Liverpool is that any profits have been going to service the loans that Hicks and Gillett used to buy the club in the first place.
Hicks recently showed his interest in trying to refinance the club and buy out partner Gillett. The American’s ownership has been very unpopular among Liverpool fans and Purslow stated that any takeover or buyout planned by Hicks would be opposed by the
board at Anfield.
Liverpool has been up for sale since April and despite constant speculation no one has taken over ownership of the club. Purslow has insisted that a number of parties are considering taking over the club. Despite Hicks considering a take-over, Purslow has
said, “I am absolutely sure that both of them are committed to trying to sell the club as soon as possible.”
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