Finance experts have questioned the attraction of Liverpool to any would-be buyer.
The price of buying out co-owners Tom Hicks and George Gillett and bringing Liverpool back, on and off the pitch, to the standard of a world-class club, was revealed this week to be in the region of £1billion.
“In the current market, finance for football club buyouts is brutally hard to come by and there are no investors out there saying, ‘I’m desperate to lend to the football sector’,” leading football financial consultant Harry Philp told the Sunday Times. “The cost of buying Liverpool and building a new stadium is £800m before you start on players. Given Arsenal, who already have the Emirates, are worth £800m, that doesn’t seem great value.
“Twenty-five per cent of Liverpool is on offer but I don’t see why anyone would buy that minority stake. You’d pay £100m into getting one quarter of a dysfunctional football club and your money would go straight to the bank, to service Hicks and Gillett’s debt.
“The prospect of investment is made even slimmer by the presence of the sheikhs at Manchester City. It’s that much harder to buy a club and compete when faced with such a rich competitor. Three or four years ago, I was working with American investors and they all asked, ‘What happens if another Abramovich appears, and there’s another Chelsea in the Premier League to dislocate the transfer market?’ These people were savvy, the owners of NBA and NFL franchises, and they just couldn’t live with that risk. You’d have to say, with City, their worst fears have come true.”