Wednesday, January 21, 2009

Rafael Benitez Risking Liverpool's Title Goal


Pivotal moments in Liverpool's season are coming thick and fast, with the game against Chelsea at Anfield on Feb 1 looking increasingly significant on and off the pitch.

While the clash with Luiz Felipe Scolari's team will give a further clue as to Liverpool's resilience, it is also likely to see further developments in the ongoing boardroom civil war, with co-owner Tom Hicks due to attend the game. Ostensibly he will be in town to help finalise Rafael Benitez's disputed contract, but his visit will also give a clue as to the balance of power in the uneasy relationship between Hicks and co-owner George Gillett.

The Americans, whose exploits provide an object lesson in the limitations of 50-50 ownership, had been due to meet in the United States on Sunday to discuss club matters but that appointment was cancelled.

Meanwhile, City sources have indicated that both men continue to search for investors to ease their personal exposure to the £350 million refinancing deal agreed with RBS last year.

RBS have agreed to extend that loan to the end of June, but Gillett is under pressure to refinance an additional £40m he borrowed to provide a personal guarantee that was a condition of the deal. He is understood to be paying interest at 19 per cent on the loan, which is due to expire on Sunday. However, the wider question as to Liverpool's ownership going forward, remains. Hicks continues to retain Merrill Lynch, who are searching for investors willing to bolster his control of the club.

None of this would matter to supporters if Benitez was unaffected and able to insulate his team from the boardroom tensions, but instead of rising above the intrigue, he is a key player.

Last weekend he chose publicly to reject his contract offer, citing the role of chief executive Rick Parry as a stumbling block, and singled out Hicks for praise while failing to mention Gillett.

His ultimate motivation may be to secure more control over club business, and his timing is in keeping with his habit of exploiting what he perceives as moments of strength to secure maximum advantage.

The danger for Liverpool's chances of winning their first title since 1990 is that not only is he a willing participant in the intrigue, but that he has chosen sides.

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