Monday, June 09, 2008

Financial Figures Pile Pressure On Reds Owners

Liverpool co-owners Tom Hicks and George Gillett Jr. will no doubt be forced to endure increased animosity from supporters following the publication of the club’s accounts.

More than 300 disgruntled Reds fans congregated yesterday to post eviction notices all around Anfield, continuing their push to oust the Merseyside giants’ warring possessors.

And the pressure on the bickering Americans will only continue to mount after the release of their first set of financial figures since they took control of the club in February 2007.

The Times reports that, according to accounts submitted to Companies House last week, one of Liverpool’s parent companies Kop Football (Holdings) Ltd endured a ₤33million loss as of July 31, 2007.

The club’s ₤350million in loans must be refinanced by January, while they will also have to pay interest on a ₤64million borrowing from Kop Football.

The accounts also revealed that Hicks and Gillett wrote off some ₤10.3million when ditching designs for Liverpool’s new stadium, while claiming in excess of ₤1.4million for personal expenses – figures which will do nothing to improve their standing with Reds fans.

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