It's not just about persevering through this, the fact is that the interest on the loan is gonna eat up most of the profits the club makes. That before we've even begun to pay off the the loan - all £350 million of it. Where is the club gonna find that kind of money from whilst still remaining competitive on the pitch. In a word it won't. This debt is basically the club paying for the honour of being taken over by these two numpties.
The club would have been in a much healthier position had David Moores just gone to the banks cap in hand and said, 'I'd like a loan for £350 million to build a new stadium for my football club'. Instead we've got these two who've gone to the banks last year and said, 'we want to take over Liverpool FC can we have a couple of hundred million to buy all the shares. The time has come for that loan to be paid back and now H&G have gone back to the banks and said, 'OK we don't wanna pay for that loan out of our own assets so can we have an even bigger loan to cover last years and to cover all of the wasted admin work we've had done for a new stadium'. By the way the club is gonna pay for all of this, if they can't pay some we agree that we'll cover some of it but otherwise the clubs the one you go to for the dosh'.
This could very well send us down the Leeds Utd road and we aren't even getting a stadium out of this current debt. These two are basically gambling with LFC's future just to cover their take over.
great points lad you hit the nail on the head here.
As i understand it Moore's sold cos he didn't have the money the club needed for investment , stadium , players ,etc but did not wish to put the club into any more debt than the 60mil it was in at the time. But suppose he had gone and got us into say just the amount of debt we have now under G&H 350mil how would we stand? Well first we have to pay the existing 60mil off that leaves 290mil enough for a real good start on a world class stadium and still plenty of cash for Rafa to be able to compete for the quality players which are sadly beyond our means now.
HMMMMM let me balance this up (1) G&H with loan and no cash for what we need or-----------(2) Moore's and loan leaving plenty of cash for what we need.
some here defend G&H methods saying its the modern era most clubs get hocked up to get the cash to be successful (e.g MANURE) well OK but if we had to be hocked up to our eyeballs then it should have beeen number (2)
Hicks stays in charge of our club then come in the not so distant future we might not have a team to support,
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