Liverpool FC Takeover
Liverpool supporters breathe a sigh of relief now that they have been bought by John Henry and his investment company.
But I don’t know why!
If LFC do not make money they will be off loaded as soon as they can to realise a profit, as Hicks and Gillett intended to do. These people are hard nosed capitalist investors not wealthy people with a sentimental link to the club they buy.
Football clubs are part of the essential cultural life of our city. They should be run as trusts or at the very least regulated in such a way as to avoid exposure to large financial risks.
This is not just a lesson for LFC, Manchester United has an extimated debt via the Glaser family of £1.1 billion. If they Glaser family hit hard times the same scenario which has befallen LFC could easily hit the biggest club in English football.
The ruination of Leeds United is another case in point. A club purchased with borrowed money who ened up being reposessed by the bank.
Maybe we should look across the park at what Bill Kenwright is doing. A good manager, little debt and some integrity. It pains me to say this as an LFC supporter but who wants to go through the fiasco of the last few weeks again!?