by Reg » Fri Jan 04, 2008 2:39 pm
Nanny posted an excellent Paul Tomkins piece comparing Rafa's achievements to the progress Wenger and Ferguson had made in the early years of their tenure. If you haven't read it, do so before reading this post (see Great Read) trying to put G&H in the same light.
There is so much ill-feeling and criticism towards G&H it clouds all other issues so whilst not having the writing skills of other lads, I'll do my best as, I believe despite the desire to blame all our woes on G&H, it isnt the case.
1. Americans are not Brits, they have a different business culture with a more focused determination and they hold people accountable for their actions. They dont take no for an answer or accept wishy-washy performance. In this respect G&H behaviour patterns are both recognisable and on par for their society. Hicks is a gunslinger and his business associates and management know it - succeed or you're out. On the other hand we are used to paternal David Moores, John Smith, and father like managers - Shanks, Bob and Houllier. We fans didnt see any evidence of accountability or direct management or the pressure to repay the kind of investment G&H have incurred buying into LFC.
2. G&H know exactly what they're doing being professional sports franchise holders and stadium owners in other sports. Whilst the country and sport are different the business model recognises the same issues - global appeal, global revenues, fan base, global brand etc.. so G&H look at the numbers to see whether LFC's accounts reflect the performance they believe the club is capable of, they considered we were underperforming hence the bought in. Lets not pretend these guys dont know how to run LFC. They do.
3. Buying LFC is a commercial venture, not a labour of love. They paid Moores his asking price, they agreed to fund the new stadium which they immediately upgraded and they made gave Rar-far a transfer budget to go out there and splash out on Torres, Babel etc.. OK, here we take the rose-tinted off because the sub-prime mortgage melt down is NOT Tom's fault guys no matter how much you dislike him. I read yesterday that possibly just 1/3 of the actual loses that will come out of this debacle have been uncovered and declared so far. This is a major global financial disaster and even Blackstone couldnt raise a paltry (for them) $1.88 billion USD to buy a GE subsidiary so yes, it is wholly realistic that the club is struggling to add to their indebitedness to fund the new stadium. In all seriousness we couldnt be looking at a worse time to raise funds! In a perverse way this is the same for the transfer kitty and servicing the existing transfer debt but we may see a fall in transfer prices as a result.
5. Looking at the financial situation a little deeper, did G&H buy LFC and make it a subsidiary of their existing sports empires or did they create a shell company called LFC? Is it the already highly leveraged G&H empires that the banks are saying 'Ok lads, thats enough for the timebeing' or is it an under capitalised LFC standalone company that cant raise 400 million quid off its own back to build a new stadium and raise transfer capital? See my point? Either way in the current squeeze both a highly leveraged sports franchise or a standalone football club are going to struggle to raise this kind of money today without making sacrifices somewhere.
6. Public relations. Think back, when they took over it was publicised that G&H like and do walk the terraces of their stadiums, sit with the fans and openly discuss the issues then see objectively whether they are worth further investigation - their clubs and fans confirmed it and little George (who incidently looks like Ali Bongo) started as a PR gesture as soon as they took over didnt he? Fark me - to walk round the Kop today they'd need to be armed with Uzis and flame proof suits!! Nice bunch of fans arent we eh? Hence G&H have backed off thinking to themselves what the BH have they got themselves into.
7. Mistakes have been made as with all new relationships that cross borders and when a new business culture meets a family run business however I dont think G&H realised the fans were so aggressive and partisan to the point of ignoring all reasonable honeymoon period ups-and-downs. The Mancs hated the Glazers and had a far more concentrated campaign against them however with a strong manager to be seen to be protecting the team and fans, the shareholders have got on with their jobs, provided the funds to both buy worldclass players and rebuild OldTraffadil without a lose of rythmn. Looks like the Mancs have calmed down and realised that it can work with low profile Yank owners and a strong local management and team manager. Sound kinds familiar? (If Parry was really cr@p he would have been kicked out years ago lads). The single mistake as I see it is that the son who should have been over here running the club (cant even remember the his name) appears to be more focused on his christmas holiday than running the club. Other than that what mistakes have they made - maybe the stand off with Rar-far but re-read point 1.
8. Nanny's post about Rafa (Great Read) highlights a number of very good issues, the key being that putting a winning team together and finding consistency inevitably takes time, commitment, a lot of hard work and a large element of luck. Just as Wenger and Ferguson took 6-7 years to find the formula so will Rafa. Just as the Glazers took time to integrate into the club, so will G&H. Hicks has no cystal ball to make all the right decisions and Gillett has no golden balls to stump up cash in a credit squeeze either.But it WILL work out.
To round it off if anyone is still reading, I dont see any G&H mistakes since they arrived that warrant firing off the marroon. Its new to them, its new to us and that breeds insecurity on both sides. Rafa has flashed his smile and warned them that despite the sub-prime debacle he needs money. This is light of him knowing at the time (and not us) about the problems raising the stadium cash. Kudos to Rafa for sticking his goatie out.
It needs to be said and let me be the first - I like G&H. In 3 years once they've bedded in they'll be walking the terraces of the new stadium terraces eating meat pies and looking like yanks trying to be scousers. But they DO understand sport, they DO know that the club needs time, money and their commitment to reach its full potential which is why they bought in in the first place.
Time to get off their back, time to give them a break, show respect and stop acting as if WE dont understand the risks they have taken buying into LFC as foreigners. The lack of respect the fans are currently showing is completely uncalled for and out of character. Lets have a huddle in the middle of the field between fans, Rafa and G&H, realise we're all in this for the long term and common good, have a group hug and say we're all sorry and get on with the business of making this club the best in the land again.
Forza Reds !!