This site is dedicated to exposing the owners of Liverpool Football club for the liars that they are. This site is neither pro nor anti-Rafa Benitez. This site is simply here to provide Liverpool fans with the FACTS about our owners and hopefully we can all get together in doing what we can to show them they are NOT welcome.
Feb 2007:
When they bought Liverpool in 2007 for £174m, Gillett promised not to load any debt on to the club.
January 2008:
Co-owners George Gillett and Tom Hicks secured £350 million in refinancing on their original £200 million-plus takeover loan from Feb. 2007.
A spokesman for Hicks said, that despite the original statement that only £105 million would be charged to the club, Liverpool will be hit with the remaining £245 million, which is now on the books of Kop Football Ltd., the vehicle Hicks and Gillett used to take over the club.
That new loan will cost Liverpool about £30 million in annual interest payments.
LIARS
Again, in 2007, former Liverpool chief executive Rick Parry and former chairman David Moores said they stopped any efforts to transfer the £220 million from February 2007's takeover to the club's books.
The deal had £105 million burdened on the club, with £60 million going toward the new stadium. The remaining sum will cover other club debts.
Club officials had no problem with £8 million a year to cover the £105 million debt as it meant a new stadium.
NOW?
Because of the loans they have taken out which they said they wouldnt, we now currently pay £1million every 9 days in interest.
The interest payment alone on our debt could wipe out any profit the club makes and
NEARLY THREE YEARS LATER AND NOT EVEN A SPADE PUT IN THE GROUND.
Expenses:
From the Guardian, June 2009:
Liverpool FC are being made to pay almost £2m to cover the travel, legal and other personal expenses of the club's owners, Tom Hicks and George Gillett. The accounts published for the owners' holding company, Kop Football, for the year to 31 July 2008, show that Hicks charged £192,000 for "third party consulting, travel and other expenses," while Gillett charged £129,000 for "reimbursable travel, legal, personnel and other expenses".
The two men charged significant amounts of money for the same expenses, incurred by themselves personally "and affiliated companies", during the previous seven-month accounting period, which ran from 18 December 2006 to 31 July 2007, too. Hicks charged Kop £198,000, while Gillett charged £375,000.
The pair also claimed almost £1m for what are described in the accounts as "transaction-related expenses". Hicks and affiliated companies charged Kop £133,000 in this category, while Gillett's figure was much higher: £823,000. The total charged to Kop in expenses, for the owners and their affiliated companies, in 18 months from their takeover in early February 2007 to the accounts' end date of 31 July 2008, was £1.85m.
This is MORE than what Rafa was allocated towards transfers in Summer 2009.
The money he has recouped from the selling of Xabi Alonso has gone on..............
INTEREST PAYMENTS:
July 2009:
Liverpool football club’s American owners have refinanced £290 million of debt with Royal Bank Of Scotland. Owners Tom Hicks and George Gillet had borrowed 290 million pounds. They got the new agreement after pledging to pay back 60 million pounds of the debt outstanding, the person said.
Liverpool FC's parent company, Kop Holdings had a full-year loss of £42.6 million because of £36.5 million of interest payments on loans despite Liverpool posting a record turnover of £159.1m for the year ending July 2008 and a profit of £10.2m.
So where did these two clowns taken us in the first 2 years?
In summary:
2007:
"When they bought Liverpool in 2007 for £174m assuming £44.8m in liabilities, Gillett promised not to load any debt on to the club."
2009:
Liverpool football club’s American owners have refinanced
£290 million of debt with Royal Bank Of Scotland.
No new stadium.
No money for transfers.
What money Rafa makes on player sales goes on interest.
No liability on he owners personally, the liability for the debt is loaded onto OUR club, putting our future at SERIOUS risk.
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