Liverpool Owners Claimed £1.4m In Expenses

The cost of Tom Hicks and George Gillett's takeover of Liverpool is becoming clear after the club published their first set of accounts since the Americans arrived last year.

Kop Football (Holdings), the company set up by the Americans to buy Liverpool, made a loss of £33million in the year ending July 2007, quite the achievement when one considers the pair only took over the club in the February of that year.

Given that the Americans transferred the debt they took on to buy Liverpool to the club, it is not surprising to learn that interest of £64million on those loans must be paid to Kop Football Ltd, the club's immediate parent company.

However, while those figures were largely expected and anticipated, Liverpool fans may not be best pleased to learn that Hicks and Gillett claimed more that £1.4million in expenses in the period covered by the accounts, and given that they have paid plenty more visits to Britain since, that won't be the end of things.

The Time reports that the owners wrote off another £10.3million when they scrapped the existing plans for a new stadium when they took over. The pair brought in their own design, a design that they have been forced to scale back in recent months because of the constraints of the global credit crunch.

A number of Liverpool fans held a demonstration at Anfield on Sunday, demanding 'repossession' of the club and posting eviction notices for Hicks and Gillett.