It’s no secret that to be a good football club, you need money to survive. For most of the Premier League, money doesn’t seem to be a problem. Most clubs seem to have enough to bring in the best football players in the world and the drop of a hat. But while some clubs may look good on the outside when they hit the pitch, their financial situation might not be all candy and roses.
Enter Liverpool and Everton. The two clubs look great on the outside; but if you take a deeper look at their finances, you can see that they both could really use some Middle East money to get back on track. After reading about Charlton’s recent snub by a Dubai consortium, Liverpool and Everton might have to reconsider the chances of a white knight coming along to save them in the near future.
Since their interest in Charlton was announced nearly two weeks ago, Zabeel have been linked with several Barclays Premier League clubs, including Everton and West Ham, but they have promised the Addicks they do not plan to invest in English football in the ‘foreseeable future’.
They also insisted the decision to withdraw their £20million offer to buy the south east London club and wipe out its debts of £20m had not been taken as a result of anything they discovered during the due diligence period.
Instead, they blamed they current financial climate and a desire to expand their interests in the United Arab Emirates. (Daily Mail)
The worldwide credit crisis is taking its toll on everyone. With the drop in oil prices over the last two months, it would now appear from an outsiders perspective that the UAE could be struggling in their own way. Instead of throwing money away on a English football club, some of the heavy hitters are now reconsidering the move. That could spell certain doom for Liverpool and Everton since both are looking towards the Middle East for a new start.