Interesting news surfacing today with regards to the financial situation at Anfield. The latest business accounts show that the parent company of Liverpool -owned by Tom Hicks and George Gillet – lost an incredible £42.6 million in the year to August 2008. Kop Football Holdings accounts also show just how much money is being drained to service the costs of the parent company’s loans, with interest payments alone topping £36.5 million!
The squabbling duo of Hicks and Gillet are also fast approaching the 24th July deadline by which they are expected to have paid back the £350 million they owe the RBS and Wachovia banks.
Auditors have said the pair are confident of securing the necessary funding, and that they are relaxed about obtaining a refinancing package. Not quite sure how one could be relaxed about the situation but then hey, they are Americans.
I won’t bore you with the possible scenarios or legal jargon (not only because it’s all over my head anyway….) but to me it seems like a tricky time for Liverpool. Since Hicks and Gillet have arrived they have rowed, failed to progress with a promised new stadium, not stumped enough cash to satisfy Rafa and alienated some fans. Ummm….and they’re still relaxed.
What will happen, we shall but see, but once again events off the field are dominating the headlines. That’s been an all-to-often occurrence this season, and Liverpool will be hoping come next season, it will be the football doing the talking. Interesting times on Merseyside though…that’s a fact.
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