18 Oct 2010Liverpool owner 'will not spend recklessly'

Football Clubs News | Football Finance News

John W Henry, the billionaire head of the New England Sports Ventures (NESV) consortium which recently acquired Liverpool, has insisted that the group will not throw money at the football club.

In an interview with the Independent, the Illinois-born hedge fund manager pointed out that UEFA's Financial Fair Play (FFP) rules could change the face of the English Premier League and said Liverpool will not fall foul of the regulations.

"If the FFP rules were ridiculous or not that strong, why was the transfer window down 25 per cent last year?" he asked. "We have to be smart. We have to be more efficient. We cannot afford player contracts that do not make long-term sense."

Henry added that NESV will seek to replicate the example of its Boston Red Sox baseball franchise, creating a "strong foundation" through years of prudent investment in the playing squad and infrastructure.

His comments came after football fans' body Spirit of Shankly revealed that it still believes supporter ownership should be Liverpool followers' long-term objective.

Written by Paul Roberts

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