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Liverpool Fc Owners Lose £42.6m

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http://news.bbc.co.uk/1/hi/business/8084182.stm

The parent company of Liverpool FC, owned by Tom Hicks and George Gillett, lost £42.6m in the year to August 2008.

The loss was mainly due to the £36m of interest payments that Kop Football Holdings had to make to service the debt taken on to buy the club.

Its auditors warned that the need to refinance loans by 24 July cast "significant doubt" on the future of the group as a going concern.

But they added the club's owners were confident they would secure the funds.

The US owners bought Liverpool in February 2007, promising to build a new stadium.

Player sales

In their accounts, they say they are "committed to building a new stadium and actively seeking funding to complete the project".

But they admit that "the opening of the new stadium will be delayed until 2012".

A sign of the trouble to come for many? Unserviceable debts?

Good job the govt solution to this problem is to increase debt.

I suggest Liverpool do the same. It can't possible fail.

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http://news.bbc.co.uk/1/hi/business/8084182.stm

A sign of the trouble to come for many? Unserviceable debts?

Good job the govt solution to this problem is to increase debt.

I suggest Liverpool do the same. It can't possible fail.

they can just extend the term, and borrow some more on the increased value of their land assets. The conveyor to unlimited wealth has been restarted.

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If we think the housing bubble is huge, which it was, the football bubble is just as bad. It can only be a nmatter of time till it goes pop.

Sky has it's customer base so I doubt they will keep paying fortunes for the privellge of broadcasting a 4 team premier league.

Punters must be getting bored of the same teams at the top.

I'd not be happy payibng 40 quid to go see a crap team get beat by an equally crap team, filled with foreign workers eanring a massive amount of cash.

How long can it last the way it is ?

These teams are in massive debt but they keep spending, it's a recipe for disaster.

I'dbe quite happy to see some of them go and some form of reality come back to the country.

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Watched this Bulsh*t arrive over the years, "Kop holdings" are finished.........when thing pick up or get worse the banks will repo Liverpool and sell it off at a great loss. All the bulsh*t leveraged buyout will start to blow up now............people will be forced to cut back.

..................and then rates will start to rocket.

;)

Mike

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Interesting that there is a big row in F1 about cutting costs at the moment but you never hear any mention of footie cutting their costs.

Does anyone watch footie these days?

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BAIL out. Printy printy.

I tend to agree. If Liverpool or ManU went bust the ungovernment would step in. Can't have the cream of English football playing in the Championship can we?

On a related note I also agree with another poster re the premier leagues actual competiveness. Fairly decent sized, well supported clubs like Everton, Villa and Spurs have more chance of winning the Bundasleaga than the prem. It's all sown up and boring as hell.

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