by account deleted by request » Wed Jan 23, 2008 1:46 am
Liverpool now want their saviours to walk on alone
Less than a year after being welcomed with open arms, the club’s American owners are finding themselves the target for hostility
Oliver Kay
“Let our relationship and our performance speak for itself. We’re either going to satisfy you or disappoint you” – George Gillett Jr, Liverpool co-chairman
Say what you like about the people of Merseyside, but they are welcoming. If the time-worn image is of an inward-looking city, hostile to outsiders, it does not tally with the experience of the two American tycoons who bought Liverpool last February and, to their surprise and apparent humility, were instantly cast as saviours of what they called “this wonderful, storied franchise”. In the weeks that followed their arrival, the odd star-spangled banner was spotted on the Kop. On their regular visits to Merseyside, they were told to “keep up the good work”.
They were even applauded as they took their seats at the Champions League final in Athens. Liverpool had had time to get used to the idea of foreign ownership and Tom Hicks and George Gillett Jr seemed to have their hearts in the right place. But over the course of a turbulent 12 months, warmth has given way to outright hostility. During the 2-2 draw at home to Aston Villa on Monday night, there were angry demonstrations and chants of “Get out of our club”.
Satisfied or disappointed? Emotions at Anfield run rather deeper than that at present. Now it is Dubai International Capital (DIC), gazumped by Hicks and Gillett a year ago, which is a would-be saviour. Most supporters are praying for a swift resolution — hopes that could sink or soar over the coming days, depending on whether Hicks succeeds or fails to stabilise his troubled regime with a £350 million refinancing plan — and for the Americans to ride off into the sunset, consigned to the briefest, if one of the most chaotic, chapters in the history of English football’s most successful club.
“It is about reaching the right conclusion for the next 100 years. You only sell the family silver once” — Rick Parry, Liverpool chief executive
There had been no shortage of potential buyers for Liverpool. Hicks and Gillett were unlikely winners from a field that, as well as DIC, included Robert Kraft, a far wealthier American, Steve Morgan, the Merseyside-born property tycoon, Thaksin Shinawatra, who is now in charge of Manchester City, a Belfast-based multimillionaire, a pair of Norwegian chancers and even a couple of Hollywood-based movie moguls eager to get back to their Liverpudlian roots.
In December 2006, the race to own Liverpool seemed to be over as David Moores, the chairman, accepted DIC’s £80 million offer for his 51.6 per cent stake in the club, but, as the due diligence dragged on beyond Christmas into late January, doubts emerged about whether the deal would go ahead. As tensions grew, with DIC dithering and the club fretting as deadlines loomed over funding for their proposed new stadium, there was a breakdown in communication and DIC angrily pulled the plug on negotiations.
Almost by default, Gillett and Hicks — the latter having arrived on the scene at the last minute, seemingly as a silent partner — had secured ownership of Liverpool. Moores made more from the deal, £89.8 million, than he would have done had he sold to DIC, but he, Parry and their fellow directors agreed that Liverpool had found the “custodians” — note, not owners — that they were looking for.
“They don’t care about Rafa. They don’t care about fans. Liverpool Football Club is in the wrong hands” — the Kop
The first cracks appeared in the summer. Shortly after Rafael Benítez challenged them to get to work in the transfer market, there were rumours, initially denied, that the co-chairmen were clashing behind the scenes. It also became clear that their transfer plans did not match those of Benítez, whose net spending in the summer was a little less than £25 million, with the club-record purchase of Fernando Torres largely offset by sales.
“In asset terms, they might — might — be billionaires,” one source said, “but football clubs require cash. They don’t have anything like the resources to invest in it. And they know it.”
Then there was the fiasco over the new stadium. In July, amid fanfare, they unveiled their spectacular new plans for the facility in Stanley Park. By mid-December, those plans had been dropped because the projected cost had spiralled beyond £400 million. “It was ridiculous,” the source continued. “Anyone could see just looking at the plans that it wasn’t going to work. There was too much bent steel for one thing. Considering the lack of finance in place, it was simply unfundable.”
Behind the scenes, relations between Benítez and the owners were becoming fraught, with Foster Gillett, son of George, struggling to ease communication, not least because of his frequent absences from his Merseyside office. In mid-November, after a terse exchange of e-mails, the manager was told by Hicks to “quit talking and focus on preparing the team”.
That same week, Hicks and Gillett tried to line up Jürgen Klinsmann, the former Germany coach, as “an insurance option” against Benítez’s sudden departure to Real Madrid or, more likely, against his dismissal. In the eyes of Liverpool’s supporters, this was an act of betrayal.
“We’re a very very modest club. We don’t talk. We don’t boast. But we’re very professional” — Sir John Smith, Liverpool chairman 1973-90
There is something that they call “The Liverpool Way”. It is an ethos, an unwritten constitution based on principles such as humility, modesty and continuity. From the boardroom to the boot room, there was a shared belief that Liverpool were a club that should be seen and not heard. Sir John Smith and Peter Robinson would keep the club ticking over, while Bob Paisley and, later, Joe Fagan and Kenny Dalglish would get on quietly with the business of winning trophies.
Hicks comes from a different culture. When Benítez antagonised him in November, he rushed out statements that served only to expose the extent of the rift. While he may have had a point in saying it was “time for Rafa to quit talking”, that point was lost amid the shock at seeing a Liverpool chairman undermining the manager in this way.
That shock was surpassed only when Hicks confirmed that he and Gillett had held talks with Klinsmann. It may have been true, but why admit it rather than leave it in the realms of “speculation”?
For the past three months, Hicks has regularly proclaimed that he and Gillett will be announcing their refinancing deal with Royal Bank of Scotland “by the end of the week”. The end of the week always comes and goes with no deal in place. With pressure from the bank mounting, we are assured that this week will be different. We shall see.
The relationship between Liverpool and the club’s owners is at breaking point. Hicks firmly intends to proceed with the refinancing plan, despite growing uncertainty in the global financial markets, but that, according to one source, will merely postpone a sale to DIC. “It won’t solve the problems,” the source said. “It’s not about putting the right financial structure in place for Liverpool. It’s about giving them breathing space, so they can sell it on.”
For now, Hicks and Gillett struggle on, but, in stark contrast to the message from the club’s anthem and to the warm welcome they received less than a year ago, they walk very much alone.
what they do with the money they make from the club as long as we always get what we need out of them.
thanks
by