Liverpool FC to be sold by US owners
LIVERPOOL Football Club was today formally put up for sale by its American owners.
George Gillett and Tom Hicks revealed that British Airways’ chairman Martin Broughton had been appointed as the club’s new chairman to oversee the process.
A statement on the club’s official website said: “Following numerous expressions of interest from third parties, the club has engaged Barclays Capital to advise on the sale process.
“The club has the full support of its existing bankers for this process and has financing in place which will fully support the club’s operations.”
Speculation over the future of the club has intensified in recent weeks as a debt repayment deadline looms. The club’s lenders, Royal Bank of Scotland and US-based Wachovia, expect it to pay down £100m of its £237m debts ahead of a June 31 refinancing deadline.
Last week the Daily Telegraph suggested Mr Broughton was being lined up for the job to make it easier to attract a third-party investor or dispose of the club.
The Americans are unpopular with many fans, who question how much investment has come in to the club, which is currently behind Tottenham Hotspur and Manchester City in the race for the remaining Champions League slot.
Mr Broughton, pictured, who is also deputy president of the Confederation of British Industry (CBI), will work alongside the club’s existing management team of managing director Christian Purslow, commercial director Ian Ayre and financial director Philip Nash. In a statement the club said it will continue to progress the plans for a, “new, larger, and state-of-the-art stadium”. 
Tom Hicks and George Gillett said: “Owning Liverpool Football Club over these past three years has been a rewarding and exciting experience for us and our families. Having grown the club this far we have now decided together to look to sell the club to owners committed to take the club through its next level of growth and development.
“We are delighted that Martin Broughton has agreed to take the position of chairman, working alongside the club’s excellent senior management team. Martin is a distinguished business leader of excellent judgment and with a great reputation. He is a genuine football supporter and will seek to oversee the sales process in the best interests of the club and its supporters.”
Mr Broughton said: “I am excited and honoured to be taking up this position. Liverpool is a great club with a fantastic history. I will run this sale process in the right way, for the benefit of the club and its fans.
“Liverpool is one of the world’s greatest clubs and my aim is to try and ensure that we find new owners who are able to build on the club’s recent improved financial performance in order to help deliver sporting success.”
North West businessman and Liverpool season ticket holder Len Collinson told TheBusinessDesk.com that he would like to see a deal concluded switly.
“The situation can’t be allowed to fester. I would like a new owner to be able to deliver the new stadium, invest in new players and to back the manager.
“I would want them to revive the Liverpool tradition. I think the chap at Aston Villa, Randy Lerner is probably the best example of the person Liverpool needs.”
James McKenna, a spokesman for the Spirit of Shankly fans’ pressure group also called for the ownership situation to be resolved speedily.
“We don’t want to go into another transfer window in limbo so I hope it’s all sorted in the next couple of months.
“We welcome the news that Hicks and Gillett are selling. It’s important that the club keeps the fans informed about what’s going on during the process too.”
