Liverpool FC Forum

by **Reg** » Mon Dec 01, 2008 12:03 pm

How the truth hurts !!
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Tom Lappin: Anfield combatants will have to adapt to financial constraints

01 December 2008
AS DECEMBER arrives with an icy flourish that encourages all those global warming deniers, the Premier League is feeling a few financial chills of its own. Tonight's fixture at Anfield demonstrates that, at the top and bottom of the table, money talks, and makes its painful point pretty lucidly.

Liverpool, enjoying their best start to a Premier League season under Rafael Benitez, are now wondering whether their campaign will founder on the vulnerable twang of Fernando Torres' hamstring.

Their resources, while the envy of many a Premier LADVERTISEMENTeague side, do not stretch to finding an adequate alternative to the Spanish forward. While Chelsea can replace the moody but effective Nicolas Anelka with the moody but effective Didier Drogba, and Manchester United can perm any two or three from Dimitar Berbatov, Cristiano Ronaldo, Carlos Tevez and Wayne Rooney, Liverpool's options amount to Torres or hope.

Liverpool's owners, the considerably credit-crunched Tom Hicks and George Gillett, may be justified in pointing out that in the summer they splurged £20million on the endomorphic Irishman Robbie Keane, and would be justified in believing that offered a little coverage in the forward areas. Keane will deputise against West Ham tonight, and against Blackburn, PSV and Hull. It's an indication of his status though, that Liverpool count on Torres being available again by 21 December for the more demanding encounter with Arsenal. Keane has not worked out yet, and there is little chance of Benitez being able to return to the marketplace with the cheque book in January. The owners are looking to offer a stable and attractive club to potential buyers, but this is unlikely to involve extending their already straining line of credit. Given that large amounts of that credit is courtesy of the Royal Bank Of Scotland, 60 per cent of which happens to be owned by the British taxpayer, perhaps we should all demur at the notion of Liverpool spending any more of our money.

The Hicks and Gillett predicament pales in comparison with the recent misfortunes of West Ham's owner, Bjorgolfur Gudmundsson. If Hamlet were still allowed to make cigar advertisements he would be an ideal candidate to depict lighting up a rueful cigar over the mournful narration: he's the man who put £150million into XL Airlines a few days before they went into liquidation; he's the man whose bank was nationalised at a cost of £250million; he's the man with construction and financial companies in a global recession; he's the man who has been ordered to pay £30million to Sheffield United. . .

In the current climate, it's a little ironic that one of his few valuable assets is his football club. If Gudmundsson gets down to his last few pence, he may have to cash it in. Asgeir Fridgeirsson, West Ham's vice-chairman, said it was too early to know whether Gudmundsson would be selling. The dilemma is knowing that this is the wrong time to be selling a Premier League club (as Mike Ashley at Newcastle United can testify), but by the end of the season there's a distinct possibility that West Ham will be a Championship club. And according to Sheffield United's (disputed) figures, that difference can be worth £30million.

In such imposing financial circumstances, it's impossible not to feel sorry for Gianfranco Zola, in his first managerial job. Zola's task is to ignore the financial anxieties and concentrate on maintaining West Ham's Premier League status.

Zola's first couple of months in charge have been less-than-auspicious. A losing streak ended with a distinctly lucky win against Sunderland, the team that is presently feeling the wrath of the footballing pantheon. The optimism sparked by that win may be stamped out at Anfield tonight.

Zola has yet to convince he can bring the best of a West Ham squad, that, on paper at least, should be strong enough to finish in the top half. What is certain is that he will have to work with what he has, or do some judicious trading, as Gudmundsson is hardly in a position to offer a transfer budget.

Zola wants to sign Juventus' attacking midfielder Sebastian Giovinco. In the present circumstances perhaps he should just be grateful West Ham can still afford to heat the dressing rooms at Upton Park.

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Good read - Http://sport.scotsman.com/football/tom-l

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