Are the American jokers soon to be on their way?
RIYADH (Reuters) – A Saudi prince said on Sunday he was prepared to spend up to 350 million pounds to buy a 50 percent stake in English soccer club Liverpool, Al-Riyadh newspaper quoted him as saying.
“We are currently seeking to buy 50 percent of the shares in the club which is now suffering of debts worth 245 million pounds,” Prince Faisal bin Fahd bin Abdullah, who chairs private firm F6 and a Saudi-based holding firm called Fama Group, was quoted as saying.
“The transaction, upon which a decision is close to be reached, will be worth 200 to 350 million pounds,” he said, according to the newspaper. (Reuters)
Whilst it would be unwise to get too excited about the reported interest coming from Saudi Arabia without at first going into great detail about what such a group would plan to do with the club, it has gotten to the point where anything would be preferable to our current owners.
Tom Hicks and George Gillett may believe that protests against their ownership may lessen given the fantastic recent performances from the lads on the pitch, but they would be wrong. The fact that Rafa has managed to deal so well with the frugal sums of money handed to him is a great testament to the Spaniard’s managerial prowess. The fact that the American owners have landed the club in huge debts by buying the club with loans that the CLUB is now paying back the interest payments for, is unsustainable. The fact that the club was forced to shelve plans for a new stadium. The fact even though Mr. Hicks made a huge fortune from selling off one of his American franchises, but refuses to pump any of that capital into the club, these facts are irrefutable and evidence of their intentions.
The news that the pair were willing to sell off a 25% stake in the club to help build up capital was well received by fans as it meant that the days when this comical pair were in full control could possibly be coming to an end and the fact that a party has become interested in taking a 50% stake in the club is better news still.
Lets not get carried away though, it’s still early days but without doubt this news will be music to most fans ears. In this instance it is very much “better the devil you DON’T know than the devils we do!”