Kop Football Holdings, the parent company of Liverpool Football Club, made a significant loss in the year to August 2008, it has been revealed.
Outgoings at the company, which is joint-owned by Tom Hicks and George Gillett Jr, exceeded income by £42.6 million over the period, largely due to the sizeable interest payments required to finance debt related to the American duo's takeover of the club.
According to Professor Tom Cannon of the Liverpool University Business School, Hicks and Gillett Jr will now almost certainly be compelled to reorganise their finances.
"It is almost hard to imagine they can resist the pressure on them to bring in another investor," he told the Guardian.
"They desperately need new finances, not least to take the burden of this debt and the related interest. They can't really seriously think in terms of another six-month extension - they need long-term secure financing."
Professor Cannon added that fans should be "concerned" about the club's future due to the dire financial position it finds itself in.
Hicks and Gillett Jr arrived at Anfield in February 2007, taking over from previous chairman David Moores.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
