23 Sep 2010Liverpool 'barely covering loans'

Football Clubs News | Football Finance News

Liverpool chairman Christian Purslow has admitted that the English Premier League football club are barely servicing their £237 million debts, but insisted the Merseyside outfit remain "highly profitable".

Responding to emails from football fans on the team's official website, Purslow accepted that the arrears - imposed on the club by George Gillett and Tom Hicks' leveraged takeover - are hindering Liverpool's activity in the transfer market.

"Can we afford to meet [our loans, interest costs and bank charges]? Just about. Do I wish that every penny spent on interest was available to spend on players? Passionately," he explained.

Purslow added that his fellow directors would oppose any attempt by Hicks to refinance the existing loan to help him acquire Gillett's stake in Liverpool and claimed several "interested parties" are currently doing due diligence.

Earlier this week, supporters' group Spirit of Shankly called on Liverpool followers to participate in a sit-in protest against the American duo at the side's forthcoming home fixture against Sunderland.

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Written by Paul Roberts

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