“There were major problems with the previous owners not being able to meet the bank’s demands and the bank maybe closing the club down.”
Hodgson was sacked before John W Henry and his Fenway Sports Group bought Liverpool from Hicks and Gillett for £300m and their investment since then has rejuvenated the club, with Kenny Dalglish back at the helm.
“I was lucky enough to be given the job there,” said the now West Brom boss. “Unfortunately I didn’t get the chance to stay as long as I would have liked to see the new ownership coming in and have a chance to build a team.
“But I have no regrets. It is a magnificent football club. I am very pleased for the club and their fans because they are one of the icons of English football and it’s good to see them back much closer to where they want to be.
“The first thing when I was at Liverpool was to get the club back into a situation where they could operate properly and not only did they do that, they organised it so when the new owners came in the club was totally debt-free, which is a great advantage,” said Hodgson.
“The new owners have added to that by investing in the squad. They need to be aiming for a top-four finish because that’s what the investment is for.”
Source: FOOTYMAD
