Harris eases fans' fears

07 June 2009 10:23
Investment banker Keith Harris believes that Liverpool fans should not be too concerned by reports the club could go out of business while warning that manager Rafa Benitez could be facing a tough transfer window. Owners Tom Hicks and George Gillett lost £42million last year, mainly through interest payments on the £350million loans taken out when they bought the club. With a July 24 deadline looming to refinance those loans, Liverpool's accountants this week warned there is "significant doubt" about the parent company's ability to remain as a going concern. "That is statement is one that is issued as a warning to the shareholders, and I would have thought in this case that the two shareholders are perfectly well aware of the situation at the club. It's serious but it's a warning to the shareholders," said Harris. Rather than go out of business, Harris said Hicks and Gillett are realistically facing three owners: to sell up; find additional funds by selling other assets; or sell players to make up the shortfall. Harris admitted the last would be "the most dire" as far as fans are concerned, and added: "I think that whatever happens, Rafa Benitez's manoeuvres in the transfer market will be restricted."

Source: Eurosport

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