If football clubs were generals, Liverpool Football club would be the most decorated amongst the ilk competing in England. With 18 league titles and triumph in 5 European cup finals, Liverpool FC ought to be the embodiment of success.
However, as the English saying warns: ' Do not Judge the book by the cover '; on the books, Liverpool football club is in debt to a tune of some 200 million pounds owed to the Royal Bank Of Scotland. In the pitch, following its worst league start in over half a century, Liverpool lies among the top three clubs that stand to be relegated from the English top flight- in the Harry potter world scenario that the 2010-2011 season of Premier League were to somehow prematurely end now.
This is the situation as the two men from the land of soccer-not football- leave following an English courts ruling to back the decision of the Board of Liverpool Football club to sell the club to new owners, in an effort aimed at averting a case similar to the Leeds United debacle or the more recent Portsmouth FC fall into financial administration+/- relegation to the lower echelons of English Soccer.
Hicks and Gillet are the villains in this football epic. The two American billionaires took over Liverpool football club in 2007 betting on leveraged financing to help realize the Merseyside dream of a new home, more world class players to add on to the enigmatic captain Steven Gerard and a loaded trophy cabinet.
 |
| Withered Dreams: The Proposed Liverpool Stadium. Image courtesy of architecturelist.com |
Sensing that they were walking alone, Hicks and Gillet sought to sell the club. After a whirlwind of claims of various parties interested in restoring the glory days of Liverpool circulated in the press, it emerged that New England Sports Ventures that is partly owned by New York Times Co and owns the Major League Baseball side Boston Red Sox had offered 300 Million pounds for Liverpool.
Boston Red Sox, an iconic sporting brand in America, much like Liverpool in English soccer, had been in a situation much akin to that facing Liverpool not long ago. New England Sporting Ventures rescued the Major Baseball league side from demise and were planning to replicate their success with Boston Red Sox in English soccer.
The Liverpool board, English premier league and by extension the British government -courtesy of their ownership of The Royal Bank Of Scotland that occurred in the wake of the 2008 global financial crisis, approved the impending deal that would see the debt settled and set plans of a new Liverpool stadium and football revival on the way. Current Liverpool co-owners, Tom Hicks and George Gillet Jr, moved to court to bar the board from selling citing the apparent undervaluation of the club and questioning the authority of the board to initiate the sale talks.
High court Judge Christopher Floyd in his ruling lifted the one stumbling block that looked set to bring some reprieve to the Anfeild faithful. With their street protests and you tube video campaigns, it appears that Liverpool fans will have to settle for half a loaf rather than the more desirable situation where they would have loved to control the club.
Once the deal is confirmed as expected, the singing shall move from the streets back to the terraces of Anfeild to create that famous suffocating atmosphere for opposition teams. The Kops have done their bit in resolving board room battles. Now its time to cheer on the reds as they battle their way up the premiership table. Hopefully, with the impending New England Sports ventures deal, it will not be a case of jumping from the frying pan into the fire nor one of the known devil being better than the unknown angel.
No comments:
Post a Comment