Liverpool co-owner Tom Hicks has vowed that the club will build a new stadium – but has said that the move will not be financed by the £450million he is set to bank from the sale of baseball club Texas Rangers.
Hicks and business partner George Gillett have been unable to raise the £500m it will cost to fund the development of a 60,000-capacity home for the Reds at Stanley Park because of the credit crunch.
There have been reports in the United States that Hicks has now entered into negotiations with six potential buyers for the Rangers – and that Liverpool will benefit from the windfall.
But Hicks said: “Rangers and Liverpool are totally separate investments, so there is no connection.
“I do plan to keep a significant participation in the Rangers. We are close to winning our division. I want to finish what we have started.
“Liverpool will obtain stadium financing when the financial market opens back up. We have all of our permits and will be ready when the market is ready.”
Liverpool’s new managing director Christian Purslow admitted last week that the club hope to have the stadium completed in time for 2018 – should England’s World Cup bid be successful.
That is six years behind the original schedule set when Hicks and Gillett bought Liverpool three years ago.
The American pair have been criticised for failing to provide the finance for the stadium and for manager Rafa Benitez to build a championship-winning team.
But Purslow’s portfolio is to develop new commercial streams – and he is in talks with several interested companies about a £15m-a-year kit sponsorship deal.
Hicks added: “Christian Purslow is working hard. Liverpool’s new management focus is producing great new commercial results that will become known in due time.”
Hicks and business partner George Gillett have been unable to raise the £500m it will cost to fund the development of a 60,000-capacity home for the Reds at Stanley Park because of the credit crunch.
There have been reports in the United States that Hicks has now entered into negotiations with six potential buyers for the Rangers – and that Liverpool will benefit from the windfall.
But Hicks said: “Rangers and Liverpool are totally separate investments, so there is no connection.
“I do plan to keep a significant participation in the Rangers. We are close to winning our division. I want to finish what we have started.
“Liverpool will obtain stadium financing when the financial market opens back up. We have all of our permits and will be ready when the market is ready.”
Liverpool’s new managing director Christian Purslow admitted last week that the club hope to have the stadium completed in time for 2018 – should England’s World Cup bid be successful.
That is six years behind the original schedule set when Hicks and Gillett bought Liverpool three years ago.
The American pair have been criticised for failing to provide the finance for the stadium and for manager Rafa Benitez to build a championship-winning team.
But Purslow’s portfolio is to develop new commercial streams – and he is in talks with several interested companies about a £15m-a-year kit sponsorship deal.
Hicks added: “Christian Purslow is working hard. Liverpool’s new management focus is producing great new commercial results that will become known in due time.”
but unlike american franchise, more successful equals more money with bigger name players which can only attract more sponsorship to the club. A bigger stadium means more cash too(after the loan for it is brought down to a manageable level or cleared) , like am i getting this all wrong??
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