Tuesday, February 06, 2007

Glazer paved way for Liverpool takeover...

Without any shadow of a doubt the Glazer family takeover of the Red Devils has helped George Gillett and Tom Hicks acquire Liverpool, not in any direct sense, but the fact that Manchester United, LFCs greatest rival were taken over by a USA outfit will have given the board of the Merseyside club more confidence about what they were doing in inviting these two businessmen from across the pond into the Liverpool boardroom to enter talks about taking control of one of Europe's most well known clubs.

Like Malcolm Glazer, both Gillett and Hicks are completely alien to the world's greatest game - this in part is why so many Liverpool fans have deep misgivings about the new owners, but like United fans it is the uncertainty of not knowing what the new owners will do in the future, will the club thrive or simply limp along in a sea of debt?

Further to which reports suggest that the takeover will be heavily financed by the banks - again much like the United deal, but the Gillett-Hicks borrowing wont be anywhere near the levels of the Glazer family at United, which will be a crumb of comfort for some.

In the aftermath of the DIC deal collapsing LFC will want to know why exactly they pulled out, because to many this was by far the best option that would have given Liverpool huge financial muscle.

Also like the Glazer deal, ultimately it will be results which dictate how successful the takeoever will be judged, if Liverpool are winning trophies on a regular basis then all might be well, but if they don't and admission prices rise as they surely will then questions will be asked.

1 comment:

  1. A couple of points just to add to the summary of your article.

    Malcolm Glazer completed a 'hostile takeover' at Manchester United - Liverpool's board have unanimously accepted the purchase by Gillett and Hicks.

    Glazer ploughed around £275 million of his own money - borrrowing another £550 million to purchase United - the loan is set against the club.

    Liverpool's shares, debt and stadium will be paid for out of cash - although there is the option to re-finance the stadium at a later point.

    Finally, I don't think too many Liverpool fans are concerned. I think concern was that we were in an unsustainable position at present. No matter how this deal works out - if we get sold on again in a couple of years - we will have a brand new stadium out of it and thousands more genuine football supporters who cannot currently attend matches week in week out because of our meagre capacity will be able to.

    Good for football - 15,000 less PremPlus sales for Sky.

    ReplyDelete

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