Shocking debts reveal what all Liverpool FC fans knew
AS Liverpool sustained a title challenge this season, the question of the club's ownership slipped down the agenda.
Supporters rightly channelled their energy into giving Rafa Benitez's side the support they deserved in their pursuit of Manchester United rather than venting their frustration at Tom Hicks and George Gillett.
However, this week's financial figures have finally put questions about the club's future back in the spotlight.
Buried among the doom and gloom was the fact that Liverpool posted a record turnover of £159.1million, up from £133.9m the previous year.
A 60% rise in TV income helped ensure the club returned a profit of £10.2million for the year ending July 2008.
But with profits swallowed up by crippling interest payments of £36.5m there was nothing to celebrate.
Add to that the £18million frittered on planning and design for the new stadium in Stanley Park, which is as far off getting started as ever, and it's a tale of woe with parent company Kop Football Holdings Limited suffering a £42.6million loss.
Any progress being made at Anfield in maximising revenue streams is being hijacked by the Americans' feckless management style.
The figures only proved what everyone already knew. By plunging the club into £350m of debt, Hicks and Gillett have ensured that millions that could be ploughed into the squad are ending up in the banks' pockets.
The co-owners are negotiating with the Royal Bank of Scotland over refinancing their £350m debt before the July 24 deadline.
They may well be granted a six-month extension but that will only delay the inevitable.
Hicks and Gillett must either bite the bullet and plough in more of their own cash - or sell the club.
Of course the vast majority of fans want the latter but the word is that the Americans are only willing to sell 50% of their stake, which is a significant hurdle to further outside investment.
And in order to maintain their grip on Anfield they are considering selling their American franchises.
Reports in Canada suggest Gillett is welcoming bids for his Montreal Canadiens' ice hockey team, while Hicks is rumoured to be contemplating selling ice hockey outfit Dallas Stars or baseball's Texas Rangers.
It's tough to swallow but for the time being at least it seems the Americans are going nowhere.
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Funny isnt it that the figures have become public at a time when big money needs to be spent on players.
I reckon if these yanks have an ounce of decency they will dig deep and do their best to pick up two world class players,
and a couple of handy backups but ill bet it dont happen.
gillet & hicks are a couple of clowns,biggest since laural & hardy sell up and go home.bring someone in that cares for our club.we'r sick to the back teeth of your promises,promises.rafa needs the money now for top class players to win the prem not two million for cover like distin.you are a complete joke you don't fool the best fans in the world...