Purslow adamant Liverpool not in danger of receivership
Liverpool FC has been battling with failure both on and off the pitch. With a string of bad performances and financial woes bombarding the football club, managing director Purslow is on a mission to assure fans its okay.
With the team’s most recent loss to Northampton in Anfield still fresh, Purslow said that the popular club is not in danger of receivership. Insisting that the financial failings are all personal debts owed by the club’s American co-owners, he adds that Liverpool is actually doing quite well in revenues.
Warning Tom Hicks to back off any attempts to hold onto the club, Purslow made it clear that any refinancing options exercised by Hicks would be rejected by the club’s board of directors. Co-owners Hicks and George Gillett owe the Royal Bank of Scotland more than £237 million.
With the bank recently calling in the loan, Hicks and Gillett have been left scrambling to come up with the cash to keep hold of the football club. Deadlines for repayment will come up this month and Hicks has reportedly been looking for ways to refinance in order to retain a stake in Liverpool
The football club is laden with debts and has been performing miserable on the field as well. Once England’s most beloved football club, it is now having to struggle to earn back its title of glory remiscient of the 1970s and 80s, when they were leaders of the pitch at home and abroad.
Purslow responded to fan questions on the LFC webpage saying that there was no reason to think that club would enter receivership as there still several interested buyers in negotiations for the club. He added that the Americans were in trouble financially, but that the club’s finances remained healthy.