LIVERPOOL STADIUM TURMOIL

Credit crunch delays Stanley Park move

TOM HICKS - delay

11/10/2008

LIVERPOOL owners George Gillett and Tom Hicks have just announced an indefinite delay to the club's ambitious new stadium plans.

With the club valued at £450million but carrying a debt of £350m, that delay could be a long one.

PROBLEM: Liverpool have an empty space on Stanley Park which should now be filled with a £400million stadium.

Instead, Gillett and Hicks have reached the limit of their £350m overdraft - and that must be repaid or extended by July 2009 at the latest.

The credit crunch has made it impossible to raise the funds to build the new ground.

Without the revenue it guarantees, the Yanks can't manage the debts in the long term and will struggle to give manager Rafael Benitez the funds he needs for major new signings.

SOLUTION: A revitalised economy would give the Royal Bank of Scotland the confidence to loan the extra £100m needed to begin work on the stadium.

The only other long-term answer is for the club to be sold.

But the new investors would need to have access to the level of finance needed to build the new ground and ensure Liverpool have the monetary clout needed for continued success at home and in Europe.

Your comments

This article has 7 comments

What a laf all the scousers begging for Arab owners. Sound like those other football giants called Man City and just as realistic. Get an Arab owner try to buy Rooney, Ronaldo,Tevez and Ferdinand and you may get success. Then why not just call yourselves Man Utd. Live on in envy

By Red Russ. Posted October 23 2008 at 6:46 PM.

By Terry Holloway. Posted October 12 2008 at 1:14 PM.

How can a club already in debt afford to build a new stadium?

We had no debt before these comedians arrived. They promised to have aspade in the ground in 60 days and not to saddle the club with debt.

They have dragged the name of one of the worlds most famous clubs through the mud and have yet to spend a penny of their own money.

What is even more sickening is that they will walk away with a large profit in all probabilty.

Please leave and take Rick Parry with you.

By rorfa`s 12month extension. Posted October 12 2008 at 11:01 PM.

It is high time that this legendary football club needs to be sold to better suitable owners like the DIC or Sheikh Muhammad who is infact the 7th richest. It will not only get rid of Hicks and company but relieve the club from its high debts and allow us to sign good names in the football world. And talking about the stadium it would be built in no time only if Sheikh Muhammad would be in our current owners place. The sooner the club is sold the better it is for all LIVERPOOL fans.

By Bodhisatta Pramanik. Posted October 12 2008 at 6:39 PM.

the answer lies in the article; the club will be sold, probably before xmas to Sheikh Mohammad who has 'access to the level of finance needed to build a new stadium'
RBS is in trouble so much so the HM Gov are to become part ownwers so no chance of new funds there, or from anywhere else in this new age of 'realistic' borrowing and lending. forget the groundshare option Susie, its never going to happen! this time next year there will be a new ground being built, hopefully off the back of a successful season!

By redscouse. Posted October 12 2008 at 12:20 PM.

Having just read Jamie Carraghers book, it gives more of an insight into the goings on behind the scenes at Liverpool and I'm sure it's time that Tom Hicks and George Gillet should pack their bags we've had enough......all REDS fans think the same I'm sure...

By Terry Holloway. Posted October 12 2008 at 1:14 PM.

How can a club already in debt afford to build a new stadium?

By Susie. Posted October 12 2008 at 9:45 AM.

If Liverpool City Council Planners hadnt messed around18 months ago. The new stadium would have been nearly built. Still cant see the logic in building a stadium 2 miles from the centre of Liverpool. Why cant Liverpool and Everton pool together and build a joint stadium on the outskirts with motorway and a rail link.

By steve. Posted October 12 2008 at 9:00 AM.

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