Belfast Telegraph

UK Website Of The Year

Liverpool accounts raise fresh concern

Published 05/06/2009

Liverpool’s parent company owned by Tom Hicks and George Gillett suffered a £42.6million loss last year — mainly due to interest payments on the debts the Americans took on to buy the club.

In the annual accounts released, Liverpool’s accountants have also warned that remaining uncertainty over refinancing the £350million debt before the July 24 deadline "may cast significant doubt on the group’s and parent company’s ability to continue as a going concern".

Hicks and Gillett hope to secure a refinancing deal but figures reveal that the financial success of the club is being swallowed up by the cost of servicing the parent company’s loans. The accounts for the year ending July 2008 showed Liverpool made a £10.2million profit but the parent company Kop Football (Holdings) Ltd made a loss of £42.6million.

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More


From Belfast Telegraph