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Just came accross this, as much as part of me wants to laugh and find this funny, another part of me is aware that this could well happen to us unless mistakes by others' are to be learned.

I actually hope this has no direct impact on Liverpool FC would be a great shame to such an illustrious club struggling. I think what it does prove though, is that these jokers cannot actually run a business, Liverpool need to get shut of these two asap (well after august 31 anywho).

EDIT: RAWK Reaction...... [urlnp=http://www.redandwhitekop.com/forum/index.php?topic=258490.0]LINKY[/urlnp]

http://www.breakingfootballnews.com/eng ... krupt/1939

Liverpool FC will be on their toes anxiously awaiting the fallout from co-owner Tom Hicks’ Major League Baseball franchise Texas Rangers’ winding up order happening in the United States. The club has filed for bankruptcy in the US courts in the northern district of Texas after failing to find a buyer in the past year.

Hicks, co-owner of private equity group Hicks, Muse, Tate & Furst, burst onto the scene with the $250 million purchase of the Rangers franchise in 1998 and tried to match the spending powers of the famed New York Yankees by splashing out huge sums on players, most notably the $252m 10-year contract of Alex Rodriguez in 2000.

However, after a period of spending beyond their means, the MLB franchise is now under a mountain of debt and without a World Series title to show for it. It is partly a reason why Hicks agreed to put Liverpool up for sale in order to seek funds to pay off the growing amounts owed to creditors of Texas Rangers.

“Things have gone downhill from there and we’ve reached a total impasse with the creditors,” Hicks said on the Rangers’ official website.

Hicks bought Liverpool in 2007 together with George Gillett and both have since led the Premier League giants to similar debt woes. Their efforts to sell the club have yet to produce any serious interest as most investors are not keen on paying the minimum £500 million the pair are seeking for the club with debts close to £400 million laid on it.

The debt situation at Liverpool have been enough to prevent coach Rafael Benitez from competing with rivals Manchester United, Chelsea, Manchester City and even Tottenham Hotspur in the transfer market and several top players are seeking moves elsewhere with the club unable to compete effectively for silverware.

It remains to be seen if Hicks will now be willing to take a cut price deal for Liverpool in order to ease his own woes back home. Even if he were to agree, co-owner George Gillett may have other designs, given that both men have been at odds with each other the moment they seized control of the club.

It would be interesting to know what currency Liverpool's debts are actually in. Of course the accounts will show it all in Sterling but if they actually have to pay back in dollars then their debts have gone up by 10% (£40m) since uncertainty over our public finances have weakened Sterling in the last couple of months.....I think they owe quite a lot to RBS so that bit is probably a Sterling Debt but I suspect some of the money came from US institutions....

The strength of the dollar and the price of oil work in our favour of course. A player paid for by the Sheikh will be cheaper in dollars because of the weakness of sterling and the Euro......

2+2=5??

Do you think Torres' agent was well aware of this situation and was looking to appease the dipper fans...."Torres will be a Liverpool player next season" Followed by "We didn't want to leave but it's clear the club needed to balance the books and that's why Torres is being sold"?

The fact that they have racked up huge debts with the two teams they own would seggest they have lost an awful lot of money.... ungortunately I cannot see them selling liverpool at a cut price to cut thieir losse and run. I am sure they will sell at some point, but for them to try and recoup most/all of what spent on Liverpool including their debts could time some considerable time.

I actually feel sorry them that they have found themselves in the position they are potentially in. It is good for us though, at least they should now be out of our way. We just need to overcome Spuds at the very least, but it certainly would be nice to overcome the rags sooner rather than later.

Yeah - poor Liverpool. Did about 5 mill short of 20M on two players last summer but now the violins are coming out.

You lot ave all gone soft. Or you've forgotten the meaning of the idea of a level playing field? Spend more than you make and you have only yourselves to blame. We've had to have the medicine.

Time a big club did too.

blues-clues wrote:It would be interesting to know what currency Liverpool's debts are actually in. Of course the accounts will show it all in Sterling but if they actually have to pay back in dollars then their debts have gone up by 10% (£40m) since uncertainty over our public finances have weakened Sterling in the last couple of months.....I think they owe quite a lot to RBS so that bit is probably a Sterling Debt but I suspect some of the money came from US institutions....

The strength of the dollar and the price of oil work in our favour of course. A player paid for by the Sheikh will be cheaper in dollars because of the weakness of sterling and the Euro......

Bin dippers owe 220 million to RBS in sterling. The debt was set up as a mezzanine company,liverpool fc holdings, to try and stave off administration if it all went tits up, however the test case for this is southampton which was identical. The yank club which has applied for bankruptcy was hicks` baby so if he couldn`t save that I would say next season is going to be bumpy unless the sell torres. After 3....Ooooh happy days(Oooh haaappy daaays)

Why should we feel sorry for Liverpool or see ourselves in that position. Liverpool, like any other club, have relied on their owners and management team to do the right thing and if they don't, then it's only them to blame. On the other hand, we seem to have a team that are shaping our club for a prosperous and safe future with not just the football to secure ourselves.

Maybe they can be everyones second team eh?

Beefymcfc wrote:Why should we feel sorry for Liverpool or see ourselves in that position. Liverpool, like any other club, have relied on their owners and management team to do the right thing and if they don't, then it's only them to blame. On the other hand, we seem to have a team that are shaping our club for a prosperous and safe future with not just the football to secure ourselves.

Maybe they can be everyones second team eh?

This is the club that sold it's soul to Americana, and stood by as [strike]social 'money' ( ie government and Liverpool city money)[/strike] was extracted out of Britain, to America for redesinging of stadiums etc, that never , ever stood a chance of being built. In a similar way to Man U paying 'Fees' for Administration of the club.

quite frankly they deserve everything that is coming to them.

awh poor old liverpool!

well i for one will sleep like a baby tonight!

Can someone tell me just how much debt they are in and how real is the threat of administration?.

Happy as a pig in shite.

I've listened to how shit we are and how fantastic liverpool are for fucking years and I will watch their demise with a big grin.

I also think we'll win the league before they do - anyone wanna bet with me? I'm pretty sure there was 2 last time, although they hid and didn't reveal themselves....

gillie wrote:Can someone tell me just how much debt they are in and how real is the threat of administration?.

Is your missus asleep Gillie? ;-)

Dronny wrote:

gillie wrote:Can someone tell me just how much debt they are in and how real is the threat of administration?.

Is your missus asleep Gillie? ;-)

Yep but read the thread i started last night i just dont get women mate they are an alien lifeforce.

I couldnt give a flying shit what happens to the bin dippers...........although Id prefer Golums Everton to go into Administration first.

Its all about Man city.fuck the rest.

carl_feedthegoat wrote:I couldnt give a flying shit what happens to the bin dippers...........although Id prefer Golums Everton to go into Administration first.

Its all about Man city.fuck the rest.

So do you think there could be a firesale at the dippers Carl?.

gillie wrote:

carl_feedthegoat wrote:I couldnt give a flying shit what happens to the bin dippers...........although Id prefer Golums Everton to go into Administration first.

Its all about Man city.fuck the rest.

So do you think there could be a firesale at the dippers Carl?.

Apart from Torres and maybe Gerard......I wouldnt buy anyone else mate.

Can't stand anything to do with that club and it's fans. Even at High School in the early 80s, there were fans of City, Scum and Bolton. There was always a big rivalry and mutual hatred but we all hated the Liverpool supporters far more. None of us could understand why they supported Liverpool apart from the fact that they were super successful at the time.

To this day, I hate the condescention that eminates from the club and it's fans. And now they always go on about history. Fuck em. Hope they go into administration and get relegated. Thye can then add that to their history book.

Original Dub wrote:I also think we'll win the league before they do - anyone wanna bet with me? I'm pretty sure there was 2 last time, although they hid and didn't reveal themselves....

I'll take that bet .... only if I can have City :)

Phil Thommo, Mark Lawrotwat, Kenny Daglish, your boys are taking one helluva beating.

They have always pissed me off as they bang on about 'history' more than anyone else, when in fact before Shankly they had less 'history' than the likes of Blackpool, Blackburn, Huddersfield etc - oh and City.

Fuck the arrogant twats.

Fuck them. For years I've had to put up with shit from their plastic fans. Time for them to find a new club as I'm sure they will.