Rafa’s title dream already looks over because of
Liverpool’s massive debts
Liverpool fans and manager Rafael Benitez fear their hopes of
mounting another serious Premier League title challenge are fading
because of the financial crisis threatening to engulf the club.
While Benitez is resigned to watching transfer targets follow
Gareth Barry and, in all likelihood, Glen Johnson into the clutches
of rivals, some supporters are proposing direct action to force
American owners Tom Hicks and George Gillett out of the club.
Benitez seems unlikely to be able to make the one or two
significant signings which captain Steven Gerrard believes the
squad need, with the Americans struggling to make ends meet, let
alone compete in the transfer market with the likes of
Chelsea,
Manchester City and Real Madrid.
The publication of accounts for the club and their holding
companies last week laid bare the danger of financial meltdown if
Hicks and Gillett fail to refinance their £350million loan facility
with Royal Bank of Scotland and Wachovia.
But now the Spirit of Shankly fans’ group are urging
RBS not to agree a new deal with the
Americans so that their stakes can be seized and the club sold to
new owners.
They are urging fellow supporters to write to Richard Holliday,
the RBS manager responsible for Liverpool,
and to their Members of Parliament, since the bank is effectively
owned by the Government after the multi-billion pound bail-out.
Spokesman John Mackin said: ‘We urge the Royal Bank of Scotland,
and our elected representatives, to consider the implications of
refinancing Hicks’ and Gillett’s continued ownership of Liverpool
Football Club. We will step up the action regarding the Royal Bank
of Scotland if this request is not met.’
The Mail on Sunday can reveal that RBS
have sought advice from police and other authorities about the
prospect of Liverpool fans attacking branches if they did not
re-finance the owners’ loans. But the threat of a boycott — or
worse — if the banks do strike a deal puts them in an even more
difficult position.
In theory, the club have £30m left of the £350m loan facility,
which Benitez could spend on players. But in reality, RBS and Wachovia will not allow cash to be spent on
transfers when accountants KPMG are warning
that the future of parent company Kop Football (Holdings) as a
going concern is in doubt unless the existing borrowings
are refinanced.
Benitez has already missed out on Barry, Johnson seems to be
Chelsea bound and targets like Valencia’s David Villa and David
Silva are seemingly out of Liverpool’s reach.
With Xabi Alonso weighing up a move to Real Madrid, there is the
very real prospect of Benitez’s squad emerging from the transfer
window weaker rather than stronger.
Fernando Torres and Daniel Agger have yet to sign lucrative new
contracts agreed in recent weeks. Neither player is thought to want
to leave Anfield, but the suspicion is that the delay owes as much
to financial concerns as to being unable to find the
time to put pen to paper.
By waiting until mid-July for Torres to sign, Liverpool would
save £250,000 as until then they are paying their star striker his
current £70,000-a-week rather than the improved rate of
£110,000-a-week. Likewise, Agger’s new four-year deal represents
a
healthy increase in wages and the longer Liverpool can keep it from
starting, the better for them.
Agger revealed while on international duty with Denmark this
week: ‘Nothing has been signed yet, but I expect to do so when the
game against Sweden is over.’
Torres may have to wait longer before he can sign. After the
current round of World Cup qualifiers, he is going to South Africa
to play for Spain in the Confederations Cup and will not return to
Liverpool until mid-July.
Benitez has dismissed the idea of selling any key assets and
intends to keep the spine of his team together said: “We still need
to improve in some specific areas. We will be working very hard to
do that over the summer.
“You can try to move fast but if the other teams go as fast as
you, you have to go faster. The only way is to try to sign the
right players every time.”
Harris – who was involved in trying to sell Liverpool last year
– warned: “Whatever happens, Benitez’s transfer manoeuvres will be
restricted.”
