LIVERPOOL boss Rafa Benitez admitted today that his £17m capture of Glen Johnson was more than he wanted to spend on a full-back.
But he also revealed that the huge outlay does not signal the end of his summer spending.
With Chelsea also willing to pay Portsmouth’s asking price for the England defender, Benitez admitted: “Sometimes you have to spend a little bit more.
“You can’t compete in the top four of the Premier League unless you spend some money.
“We were looking for a player of quality and also somebody who is British because of the new Champions League rules.
“Glen Johnson fits both categories.”
The player has agreed a deal with the Reds and is expected to formally put pen to paper in the next 48 hours.
And he may not be the last new face at Anfield this summer.
“We have a plan,” added Benitez. “We can sign one more player if necessary, but that’s without any players leaving.”
Interesting to see the sponsor's name in green, too. Very Christmassy.
Good job, Adidas. Liverpool's new black away kit is also very smart.
But are the enormous sums they are willing to spend good for the game?
The assembly of another squad of 'Galaticos' would certainly be easy on the eye for those lucky enough to watch them, and few would disagree such a team is an tremendously exciting proposition.
But what effects would that kind of expenditure have on the game itself?
Would it serve only to widen the gap between the haves and the have-nots?
How are other teams expected to keep up with the likes of Real? Especially in the current economic climate, where many lower league clubs are struggling to even survive, let alone compete in the transfer market.
Liverpool Fc akhir nye memperkenal kan jersey away musim depan berwarna hitam emas bertemakan "EVERY TEAM NEED A 12th MAN"...
Jersy ini diperagakan oleh Steven Gerrard, Jamie Carragher, Dirk Kuyt and Xabi Alonso...
Rafa Benitez may have made some absurd comments this season, but Liverpool football club played some high quality football over (if not right through) the last 9 months.
Be it shaking up the Madristas or drubbing the champions at their home, Stevie G and his troops sure had their moments. But what cost them most dearly, many feel, was the absence of a second striker, let alone a third.
Whereas Manchester United’s fifth striker, Kiko Macheda, brought home 4 points almost on his own, Liverpool could only watch. In a league where a moment of striker’s instinct could be the difference between end of season glory and gloom, Rafa Benitez HAS to BUY El Nino a striking partner (or two) to take Liverpool (back) to the promised land.
So, who are the options and what are their credentials?
David Villa: He is, arguably, the best striker in the world. Already Torres’ partner for country, he is a manger’s dream. A wonderful eye for goal and all the necessary frills in place, he could make opponents hate coming to Anfield again. With his ability to play as a lone striker too, he is tailor-made for Liverpool’s requirements. Buy him now, when he is at his prime, and the champions may have to play a lot better than this season to reach number 19.
Carlos Tevez: Whether or not Liverpool fans truly admire him, this could give them plenty to talk about with their Man united fan friends. Purely on a footballing basis too, this buy has its merits. Carlos Tevez has a lot of attributes common to world class strikers- touch, physique, an eye for goal (especially late ones) and a champion spirit. Add to this his all round play, and you have a very very handy addition to Liverpool’s side, whatever be his price.
Sergio Aguero: Neither has he shown great enthusiasm in leaving Athletico Madrid, nor has he got the credentials of the above two. Though very promising, he would still be a gamble in the world’s harshest league. Add to it his playing style, and one doubts if he is the right man to partner Torres upfront. Keeping in mind the fact that he is not likely to come cheap as well, he would be a huge gamble for the future, but are Liverpool fans ready to ‘wait’? Much cheaper strikers are available, who would be safer bets for Liverpool.
Michael Owen: He may be a free agent, but nothing about his wage demands is alluring. Though he is a player with a proven track record, considering how Robbie Keane failed last season, Owen cannot be brought back to Anfield as the only acquisition upfront. It would be neither prudent nor a gamble, even. Having said that, he could be brought in as cover for Torres and someone else, though he is surely not the solution to the problem.
Samuel Eto’o: He may have a scored a bucket of goals just this season, but he is no longer prized possession at Camp Nou. A striker who gets the goals, he could be an inspired signing by Benitez if some of his other choices don’t come off. Though not too many years of guaranteed performance from him, he could still get Liverpool back to their winning ways. End of season slump notwithstanding, he is a champion player and they are a rare breed. If the price is right, this could be a pretty good acquisition too.
Liverpool FC are in real financial trouble as the clubs holding company Kop Football Ltd posted a £42 million loss last year.
Kop Football Ltd was setup as the parent company of Liverpool FC who’s debt doubled to £82 million only last week.
When Liverpool owners bought the club from David Moores and the other shareholders they didn’t fund it with their own cash. They decided to take out a loan of £350 million split between the football club to clear debts and the rest in to Kop Football Holdings which was supposed to begin building a stadium. However, as we predicted, the interest payments would be crippling and far more than LFC could afford. £36 million in interest in one year alone is plunging the club in to more and more debt.
The clubs owners have effectively handed over £40 million a year for nothing. Out of their own desire to avoid investing a single cent in to the football club THEY were supposed to be buying.
KPMG, the accountancy firm has certain legal obligations so that lenders are aware of financing difficulties, and said:
The following is from Bloomberg:
Liverpool Football Club’s parent company had a full-year loss of 42.6 million pounds ($69 million) because of interest payments on loans taken out by American co-owners George Gillett and Tom Hicks.
Kop Football (Holdings) Ltd.’s loss in the year ending July 31, 2008, widened from 33.1 million pounds on interest charges of 36.5 million pounds, the company said in a Companies House filing. The owners have a July 24 deadline to refinance or pay off a 350 million-pound credit facility with Royal Bank of Scotland Plc and Wachovia Corp.
The interest payments wiped out the 8.37 million pounds of net income reported by the Premier League soccer club, which benefited from player trades and increased broadcast income. That compares with a 20.6 million-pound loss a year earlier, the club said in a separate filing. Sales rose 19 percent to 159.1 million pounds.
“Any company, never mind a sports company, which is not able to cover interest from operating activities has three options: refinance, get new equity investors, or sell it to somebody else who’s prepared to absorb the debt and start from scratch,” said Sean Hamil, a lecturer at the University of London’s Birkbeck Sport Business Centre.
With the debt issue unresolved there is the “existence of a material uncertainty which may cast significant doubt on the group’s and parent company’s ability to continue as a going concern,” the club’s accountant KPMG LLP wrote in the filing.
Even more worrying is the following:
Liverpool said it had been granted a license to play in next season’s Champions League, access to which is contingent on proving the business is a “going concern.”
The owners say they have no plans to walk away from the 18- time English champion. Instead, they have held talks with potential investors about acquiring an equity stake and are in discussions with their bankers to extend their loan.
On July 24th, £350 million must be paid back to RBS and Wachovia, the two banks.
Where that money is going to come from God alone knows.
Not only will UEFA kick clubs out of competition for financial impairments but the Premier League can impose significant points deductions.
![::: nobody's.same.with.me.[may.be] :::](http://3.bp.blogspot.com/_ngnzligIO90/Smn-W5togtI/AAAAAAAAAPc/e6w0F42G76A/S210/roy6.jpg)
