Liverpool FC owners lose £42.6m

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http://link.brightcove.com/services/...id=25395460001

Some perspective....

[Charly]

Also, suggesting that we need £1bn of cash is a nonsense. Having a certain level of debt can actually be desirable (if you understand gearing then you will understand why), and the notion of building the stadium without some degree of financing would be unusual to say the least.

I never said £1bn of cash. But access to funds of close to £1bn, to buy the club, build the stadium and fund the team.


I am an accountant also, and understand the concept of debt being a good thing. But you need to generate enough revenue to service not only the interest, but repayment of the principal. For a new buyer to come in, they will need to be cash rich, or else they will have the same problem as the Yanks, securing loans against the club, and LFC serviceing the debt, of which we are probably close to our limit of what we can afford to pay (unlike the Mancs who are surely not a going concern, unless they can create an extra revenue stream worth £60m to service their current debt).

[brightred]

I never said £1bn of cash. But access to funds of close to £1bn, to buy the club, build the stadium and fund the team.


I am an accountant also, and understand the concept of debt being a good thing. But you need to generate enough revenue to service not only the interest, but repayment of the principal. For a new buyer to come in, they will need to be cash rich, or else they will have the same problem as the Yanks, securing loans against the club, and LFC serviceing the debt, of which we are probably close to our limit of what we can afford to pay (unlike the Mancs who are surely not a going concern, unless they can create an extra revenue stream worth £60m to service their current debt).

Have I just stumbled on a site called Accountants.com?

[Leyton388]

The fact is that Moores spent almost 5 years looking for the right people to take over the club and when the right people came along he ****ed them around and sold the club to two people who are poorer than him.

David Moores could of and should have had the balls to take out a loan against LFC to build a new stadium which at the time would of cost about £100m but he bottled it and his actions over the past 15 years has seen this club go from the top of english football to almost bankruptcy.

I will never forgive or forget what his effect on the club has been and IMO he needs to be targeted just as much as the other two as he is the main reason they are here. He had the chance to sell to DIC who would have had a sound business plan to run this club and we certainly would not be in almost £400m of debt.

Now people might say stop panicking but the fact is we are in deep trouble as a loss of £40m is not small change to any company never mind a football club.

David Moores has ruined this club from the day he took over IMO and as far as i can see it is mission accomplished.

We now have the like of manchester city who can outbid us for players and pompey have just got a new rich owner.

It seems that when it comes to business all other clubs can get it right yet LFC manage to **** it up time and time again. What a turn around from the best run club in the country to almost financial ruin.

Gutted

[brightred]

What annoys me most about Moores and Parry is that they could have sold us to Dubai. Obviously they were taken with the american bull**** that those ****ers are so good at.
I hope to God they sell soon.

[Bari]

This is only 2007- July 2008 accounts.

Where still here since July 2008, and spent big money since.

[Charly]

This is only 2007- July 2008 accounts.

Where still here since July 2008, and spent big money since.

Yes and do you actually know what that would mean?

We are probably in even more debt, although some of the transfers were spent from cash, created from the said loan.

[cream]

We now know where the Keane money went - we never had it in the first place.

[Vermilion]

36million a year going out of our club just so h&g could buy us with what basically ends up being ours & our clubs money. ****in annoying.

[Kinell]

Good debate going on on talkSPORT now.

[Vermilion]

Good debate going on on talkSPORT now.

[Neil Young]

Have I just stumbled on a site called Accountants.com?

Looks like you clicked on the wrong link among your Google results for "double entry."

[JohnOK]

Good debate going on on talkSPORT now.

What are they saying?

[Kinell]

What are they saying?

I tuned in after it started but it was a representative from Sons of Shankly (John someone i think) and a journalist who knows a bit with the finances of clubs. But it was generally about the use of money generated by the club to pay off the debts of the owners, how influential the stadium is going to be in making money for the club and the owners in the future and thats why they are being reluctant to sell, and how the current state of the running of the club is unsustainable.

[Vermilion]

What are they saying?

I tuned in after it started but it was a representative from Sons of Shankly (John someone i think) and a journalist who knows a bit with the finances of clubs. But it was generally about the use of money generated by the club to pay off the debts of the owners, how influential the stadium is going to be in making money for the club and the owners in the future and thats why they are being reluctant to sell, and how the current state of the running of the club is unsustainable.

Also how disgraceful it is that British footballs two biggest clubs could be taken over in this way, with the club/fans ending up paying off the debt for said new owners.

Utd they say have paid 300mill almost in interest payments thus far which could have gone on players, we will of course be paying 36mill every season that could also have gone on new players.

What chance a new stadium under H&G, not much.

And what do H&G think of all this..."Oh were not worried in the slightest about the debt", well that's good know eh, but then again i expect they've covered their own arses and aren't really that bothered about LFC long term, it's just about making money to them, which ultimately they will i expect whatever the outcome, the only question being how much.