Tom Hicks needs to stop talking and start acting before Liverpool are worth absolutely nothing
By David Maddock in Mirror Football Blog
Published 13:00 28/05/10
(6) Recommend (4)
Ever seen that film Groundhog Day? Can anyone tell me, was it based in Texas?
After the former chairman and largest shareholder of Liverpool Football Club, David Moores, finally – and ridiculously belatedly – came out and admitted he had made a mistake in selling the club to a pair of American cowboys, one of the new owners, Tom Hicks, offered a reply.
You can read what he said here , but my advice to you is, don’t bother. Don’t bother because you will have heard it all before….over and over again, in fact.
Hicks basically said the club is in a better position now than before, blah, blah, blah. They have invested more than ever before, blah, blah, blah. Things are looking much healthier than ever before, blah, blah, blah.
In a statement issued by the fans’ group Spirit of Shankly late last night, they responded with this rather caustic sentence: “You couldn’t make it up…except that Tom has done exactly that, made it all up.”
What they mean, I think, is that there are lies, damn lies, and statistics. In this case, I’m sure Tom Hicks believes what he is saying to be true, and can back it up with CERTAIN statistics. But equally, the club’s recent accounts show what he says to be completely false.
Liverpool are not in a healthier position now than three years ago. They are paying interest on bank loans and – more sinisterly – on loans from the Americans themselves, that amount to more than £78million of payments in the past two years.
They also have debts that now amount to more than £350million and are growing by the day. At the current rate of debt growth, in less than three years’ time, Liverpool Football Club will be almost £700million in debt.
The point is, the time has come for Hicks to stop banging on about how good things are, when every single Liverpool fan across the world can see that things are not good. They are terrible.
No club can sustain such debts easily. Not Manchester United, not Liverpool, not even Real Madrid (unless, of course, they are bailed out by the state, which is another story).
For Liverpool, it means money that should be spent on signing players and, crucially, building a new stadium, is instead being spent on interest repayments.
Hicks tells a partial truth when he says he has given money for the manager to spend. He did in 2007-08, but since then, the net spend on players has been pretty negligible. And that is purely because of the debts that the owners have burdened the club with.
In an open letter to Messers Hicks and Gillett last week, I suggested that the time has come for the pair to open their wallet, and actually use some of their own money to restore the health of Liverpool Football Club .
If they don’t move QUICKLY this summer, then Liverpool will be sent on a spiral of decay that will threaten the very future of one of the greatest football teams in the world.
And if that doesn’t make the Americans sit up and take notice, then this will. If Liverpool don’t act soon, then the club will be worth nothing. Zilch, nada. The great plan Hicks and Gillett had in taking a huge profit from their investment will collapse spectacularly.
Both Steven Gerrard and Fernando Torres have said in recent days that they will concentrate on the World Cup and then look at their futures afterwards. Both have made it crystal clear that they expect things to happen in that time, and if they don’t, then they will leave.
Gerrard said quite, pointedly, “Hopefully, things might happen while I’m away.” We all know what he means, but the point is, it has to happen now. Hicks and Gillett have to take the steps to ensure that there is no chance of their two best players leaving.
If those two leave at this time, then Liverpool are lost. The £600million the Americans believe Liverpool to be worth will be a pipe dream. And that could mean both of them end up in the bankruptcy courts.
Hicks speaks of a “significant investment” this summer. He also speaks of decisive action. Yet so far, he has sat on his hands and done nothing, except tell everyone how great things are going. Like young Mr Grace from 'Are You Being Served?'
Fans will not put up with that Groundhog Day tripe any longer. They don’t want a summer of speculation over their two best players, they don’t want another summer spent pursing crocks like Alberto Aquilani, while their owners say everything is just fine.
So the time has come for action. The Americans’ only fear is that their investment will be damaged. Well, in that case, why not a boycott of merchandise from Liverpool Football Club?
Steve Horner, the fan whose innocent email to Tom Hicks junior provoked the infamous “blow me f**k face” outburst, is suggesting that the refusal of the Americans’ to sell the club and clear off now demands greater action. He suggests hitting them where it really hurts – in the pocket.
For a starters, Steve is advocating a boycott on purchases of the new Liverpool shirt, released this summer. Why not? If you are a Liverpool fan, then why don’t you stick with your old shirt, because the (criminal) price you pay for a new one is going towards interest payments, not buying new players.
If every Liverpool fan refused to buy the new shirt the Americans would get the message, because their £600million asking price would look a fantasy if merchandising doesn't sell. You can bet too, that adidas would be on the phone rather sharpish.
You see, all it takes is a little organisation, and the Americans would be in real trouble.
If you want to avoid that Tom, then the answer is simple. Stop talking rubbish, and start acting. First of all, accept a realistic valuation of the club, as David Moores suggested. Show that you REALLY are doing everything to find new owners for one of the greatest sporting institutions in the world.
Secondly – and this is imperative – put in the money that will appease your top players, that will persuade them to stay. That means decisive action now, even if it costs you more than waiting until July.
If Gerrard and Torres go to the World Cup knowing there is a plan to turn Liverpool around and challenge for the title next season, they won’t leave. You have to send them that message now. Action is required, not hollow words.
By David Maddock in Mirror Football Blog
Published 13:00 28/05/10
(6) Recommend (4)
Ever seen that film Groundhog Day? Can anyone tell me, was it based in Texas?
After the former chairman and largest shareholder of Liverpool Football Club, David Moores, finally – and ridiculously belatedly – came out and admitted he had made a mistake in selling the club to a pair of American cowboys, one of the new owners, Tom Hicks, offered a reply.
You can read what he said here , but my advice to you is, don’t bother. Don’t bother because you will have heard it all before….over and over again, in fact.
Hicks basically said the club is in a better position now than before, blah, blah, blah. They have invested more than ever before, blah, blah, blah. Things are looking much healthier than ever before, blah, blah, blah.
In a statement issued by the fans’ group Spirit of Shankly late last night, they responded with this rather caustic sentence: “You couldn’t make it up…except that Tom has done exactly that, made it all up.”
What they mean, I think, is that there are lies, damn lies, and statistics. In this case, I’m sure Tom Hicks believes what he is saying to be true, and can back it up with CERTAIN statistics. But equally, the club’s recent accounts show what he says to be completely false.
Liverpool are not in a healthier position now than three years ago. They are paying interest on bank loans and – more sinisterly – on loans from the Americans themselves, that amount to more than £78million of payments in the past two years.
They also have debts that now amount to more than £350million and are growing by the day. At the current rate of debt growth, in less than three years’ time, Liverpool Football Club will be almost £700million in debt.
The point is, the time has come for Hicks to stop banging on about how good things are, when every single Liverpool fan across the world can see that things are not good. They are terrible.
No club can sustain such debts easily. Not Manchester United, not Liverpool, not even Real Madrid (unless, of course, they are bailed out by the state, which is another story).
For Liverpool, it means money that should be spent on signing players and, crucially, building a new stadium, is instead being spent on interest repayments.
Hicks tells a partial truth when he says he has given money for the manager to spend. He did in 2007-08, but since then, the net spend on players has been pretty negligible. And that is purely because of the debts that the owners have burdened the club with.
In an open letter to Messers Hicks and Gillett last week, I suggested that the time has come for the pair to open their wallet, and actually use some of their own money to restore the health of Liverpool Football Club .
If they don’t move QUICKLY this summer, then Liverpool will be sent on a spiral of decay that will threaten the very future of one of the greatest football teams in the world.
And if that doesn’t make the Americans sit up and take notice, then this will. If Liverpool don’t act soon, then the club will be worth nothing. Zilch, nada. The great plan Hicks and Gillett had in taking a huge profit from their investment will collapse spectacularly.
Both Steven Gerrard and Fernando Torres have said in recent days that they will concentrate on the World Cup and then look at their futures afterwards. Both have made it crystal clear that they expect things to happen in that time, and if they don’t, then they will leave.
Gerrard said quite, pointedly, “Hopefully, things might happen while I’m away.” We all know what he means, but the point is, it has to happen now. Hicks and Gillett have to take the steps to ensure that there is no chance of their two best players leaving.
If those two leave at this time, then Liverpool are lost. The £600million the Americans believe Liverpool to be worth will be a pipe dream. And that could mean both of them end up in the bankruptcy courts.
Hicks speaks of a “significant investment” this summer. He also speaks of decisive action. Yet so far, he has sat on his hands and done nothing, except tell everyone how great things are going. Like young Mr Grace from 'Are You Being Served?'
Fans will not put up with that Groundhog Day tripe any longer. They don’t want a summer of speculation over their two best players, they don’t want another summer spent pursing crocks like Alberto Aquilani, while their owners say everything is just fine.
So the time has come for action. The Americans’ only fear is that their investment will be damaged. Well, in that case, why not a boycott of merchandise from Liverpool Football Club?
Steve Horner, the fan whose innocent email to Tom Hicks junior provoked the infamous “blow me f**k face” outburst, is suggesting that the refusal of the Americans’ to sell the club and clear off now demands greater action. He suggests hitting them where it really hurts – in the pocket.
For a starters, Steve is advocating a boycott on purchases of the new Liverpool shirt, released this summer. Why not? If you are a Liverpool fan, then why don’t you stick with your old shirt, because the (criminal) price you pay for a new one is going towards interest payments, not buying new players.
If every Liverpool fan refused to buy the new shirt the Americans would get the message, because their £600million asking price would look a fantasy if merchandising doesn't sell. You can bet too, that adidas would be on the phone rather sharpish.
You see, all it takes is a little organisation, and the Americans would be in real trouble.
If you want to avoid that Tom, then the answer is simple. Stop talking rubbish, and start acting. First of all, accept a realistic valuation of the club, as David Moores suggested. Show that you REALLY are doing everything to find new owners for one of the greatest sporting institutions in the world.
Secondly – and this is imperative – put in the money that will appease your top players, that will persuade them to stay. That means decisive action now, even if it costs you more than waiting until July.
If Gerrard and Torres go to the World Cup knowing there is a plan to turn Liverpool around and challenge for the title next season, they won’t leave. You have to send them that message now. Action is required, not hollow words.
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