Tom Hicks vows to reduce debts and sign new players at Liverpool FC
16 September 2009 06:00
TOM HICKS has promised to reduce Liverpool's debts at the same time as strengthening the first team squad - but he has has branded Manchester City's present business plan as 'unsustainable.'
The Reds co-owner also revealed last night that current shirt sponsors Carlsberg will continue to have a significant sponsorship tie-in at Anfield even after their present arrangement ends.
The Texan gave a glowing assessment of Liverpool's financial future in a wide ranging interview.
He claimed the Reds expect to generate £26 million next season from their deals with British bank Standard Chartered and Danish beer Carlsberg.
'You have to look at cash flow rather than accounting and we intend to operate Liverpool where it has a very strong positive cash flow so we have the resources to be as competitive as possible on the pitch,' said Hicks. 'That's our commitment.'
"We had strong, positive cash flows last year. Our debts levels are at a very comfortable level and we are going to continue bringing it down.
"Our goal is to have less debt than any of the top clubs and that's a commitment we have made and will continue to make.''