Thursday, May 03, 2012

LIVERPOOL'S LOSSES REVEALS £35M BLOWN ON BOTCHED NEW STADIUM PLANS AND £8M KICKING OUT NEW ENGLAND BOSS HODGSON



The true mess Liverpool's finances were left in after Tom Hicks and George Gillett's reign at the club was revealed on Thursday - with £35million wasted on the Americans' attempt to make a 'new Anfield'.

Fenway Sports Group, headed up by Tom Werner and John W Henry who stepped in to take over, wiped most of the club's debt away with a £200m investment - but even after that more money has been set aside to cover the stadium situation.

The £35m covers design fees, legal and administrative costs related to the stadium plan commissioned to Dallas-based architects HKS by Hicks and Gillett. 

The Stanley Park project has been dumped and the club have labelled the costs involved with scrapping the project as 'significant wasted money'.

The £35m is a large chunk of Liverpool's £49.4m overall annual loss and is listed in the accounts as a major 'exceptional item'. 

Liverpool still have one new stadium option in the pipeline, one commissioned previously from Manchester based architects AFL, although they are also considering redeveloping Anfield.

Fortunately for Liverpool, the money involved with writing off the stadium will not be counted against them with regards to European Financial Fair Play reguations, as UEFA do not include them in their calculations.

Another stand-out figure from Liverpool's accounts is the £8.4m spent removing Roy Hodgson and his backroom staff.

The manager, far from popular with Liverpool fans, was appointed the new England manager on Tuesday.

Current managing director Ian Ayre said the accounts highlighted a rescue operation by Liverpool's new owners.













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