Day: June 7, 2009

Liverpool, Manchester United & Premier League Debt

How bad, then, is the situation at Liverpool? KPMG’s report on their current financial position makes for worrying reading for the club’s supporters, though there is a case for saying that there are elements of the media coverage of the report which are focusing on the most sensationalist aspects of the report, but none of this means that the comments that “significant doubt on the group’s and parent company’s ability to continue as a going concern” weren’t made, or that there weren’t sound reasons for them being made. By January of this year, the club had spent almost all (£313m) of the £350m loan that they had taken out to fund the take-over of the club and subsequent further running costs. Gillett and Hicks had been working to the assumption that they would get the financing to move the club from Anfield and into a new stadium, but over two years on they seem less likely than ever to be leaving for pastures new. The truth is largely as the media has reported. Gillett and Hicks have “pulled a Glazer” and loaded the club that they now own with a massive (and in many senses unnecessary) debt. Manchester United supporters reading this may be tempted to chortle, but they should probably think again. Manchester United’s total debt is now £700m, and the sum total amount that they have got...

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Match Of The Week: Kazakhstan 0-4 England

There are, broadly speaking, three types of tiredness which affect footballers. The first is the sheer exhaustion of having played over ninety minutes of football at a high tempo. The second is a feeling of being run down at the end of a long season – sitting in the dressing room ten minutes before kick-off thinking, “I could really do without this today”. The third is a gradual unwinding after coming out of the traps like a greyhound at the start of a match. The latter two of these are almost opposites, and both were on view this afternoon as England eventually overcame Kazakhstan in Almaty. It’s difficult, in this day and age, to have too much sympathy for Premier League footballers, for whom the arduous lifestyle of flying all over Europe to play football is softened somewhat by the pillows full of money upon which they rest their heads at night. This match, however, was slightly different. Come the end of May the average footballer might expect a little rest, but the schedules have thrown the England squad a curveball – a seven thousand mile round trip to a country that borders China and (almost) Mongolia. This, coupled with the perennial England goalkeeping crisis and the fact that, well, England are plenty capable of losing to just about just about anyone made this a potentially tricky trip. Twenty...

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