Looks like its going to be another season of empty promises from Liverpool. This time even before the season starts, signs of another empty season is all but showing. Liverpool's holding company - Kop Football (Holdings) Ltd announced a substantial lost of £42.6m although the football club itself made a meagre £10.2m profit. Club accountants (KPMG) filed warning notes in their statement of accounts - indicating 'going concern', as the owners Hicks and Gillett (pics above) struggles to refinance £350m worth of debt before the June 24 deadline. Hicks already defaulted the loan he took to finance his American baseball team - Texas Rangers.
So what will happen if the creditors take over. First, they will appoint an accounting firm to act as receiver. Second, when the appointed receiver is in, they will start looking for valuable assets to sell in order for the club to repay its debt. So, what's valuable in Liverpool Football Club? Certainly not its trophy cabinet! Torres and Gerrard? Yeah you're right! These stars will probably be offloaded if and only if the owners cannot do anything about it.
Liverpool fans, start praying..
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