Black Armband Time in Liverpool

[Barrel of Fun]

It seems their stadium has died a temporary death...

BBC SPORT | Football | My Club | Liverpool | Liverpool stadium plans on hold

No doubt the fans will be up in arms about the way the club is being run. Benitez will complain further after saying his transfer budget was 'not very much', despite spending over £40m (net of £26m).

It did give me a warm glow when they were takenover by the Americans, when they had put so much effort into ribbing Man Utd for selling out to the dollar.

 

[Hockley Blues]

The Gaffer >> Merseyside clubs’ new kits to include permanent black armbands

 

[Timbo]

He told BBC Sport: "It is a case of a delay while things settle down. It's still a good long-term project.

"With the financial markets in turmoil, any major construction project at this time is difficult, it is risky."

With some commentators predicting that the economic downturn could continue for a year or two it is unclear when Liverpool will begin work on the stadium, which was expected to be finished by August 2011.

It's a good job banks apparently have a different set of rules for our stadium.

 

[Mendoza]

I guess they will have to put up with their modern day 40,000 seater stadium, famous the world over, for its great atomosphere. *hardtimes*

 

[Barrel of Fun]

He told BBC Sport: "It is a case of a delay while things settle down. It's still a good long-term project.

"With the financial markets in turmoil, any major construction project at this time is difficult, it is risky."

With some commentators predicting that the economic downturn could continue for a year or two it is unclear when Liverpool will begin work on the stadium, which was expected to be finished by August 2011.

It's a good job banks apparently have a different set of rules for our stadium.

Careful. If you are sceptical that we will be able to finance the stadium or have it completed at a given date, then you will be either labelled a non-fan or will have it suggested that you should visit Withdean until the date that you predicted completion.

 

[Barrel of Fun]

I guess they will have to put up with their modern day 40,000 seater stadium, famous the world over, for its great atomosphere. *hardtimes*

It is a tough life. According to many on 606, no-one needs a new stadium more than Liverpool.

 

[Timbo]

Careful. If you are sceptical that we will be able to finance the stadium or have it completed at a given date, then you will be either labelled a non-fan or will have it suggested that you should visit Withdean until the date that you predicted completion.

No no no! I am just delighted that we are able to finance our stadium and borrow huge amounts of capital from financial institutions when our assets amount to whatever Gary Hart is worth nowadays and half a dozen portacabins when Liverpool, with players worth in excess of £100m, a current site worth an absolute fortune in development and some of the richest people in the world in charge are struggling.

Well done everybody concerned.

 

[The Spanish]

Can that poor blighted city take any more suffering?

 

[Theatre of Trees]

Part of the Liverpool problem is that the owners are already £105 million I think in debt through their purchase of the club. All of that debt would have been restructured through the extra borrowing required to build the new stadium which is why they are having problems. Their financing also involves the sale of Anfield which would also require other buyers which may also be problematic during the current credit squeeze.

As far as I'm aware we don't have either of these problems.

 

[lighthouse]

Part of the Liverpool problem is that the owners are already £105 million I think in debt through their purchase of the club. All of that debt would have been restructured through the extra borrowing required to build the new stadium which is why they are having problems. Their financing also involves the sale of Anfield which would also require other buyers which may also be problematic during the current credit squeeze.

As far as I'm aware we don't have either of these problems.

Good point, well made. Keep up the good work - although the moaners won't like it!

 

[Tom Hark Preston Park]

One of these days, all these Fantasy Football debts are going to come home to roost and the whole Premier League will go belly up. Even SKY must realise it's a League of four moneymakers, up against a dozen and a bit cannon-fodder. Must be near-on impossible for them to maintain interest anymore.

 

[Barrel of Fun]

Good point, well made. Keep up the good work - although the moaners won't like it!

It is a fair point, but are our owners not in debt through taking over the club and running it?

I don't like being labelled a 'moaner' for merely pointing out that many major projects are falling by the wayside.

 

[Theatre of Trees]

It is a fair point, but are our owners not in debt through taking over the club and running it?

I don't like being labelled a 'moaner' for merely pointing out that many major projects are falling by the wayside.

Yes, but they've converted their debts into shares which can be reconverted into a much later date. There will probably be a tacit agreement somewhere that none will do so until the stadium is built and I expect none will because the shares will be worthless until that time.

The two Americans who run Liverpool are a different kettle of fish, they are business men who are in the business of buying companies turning them around then selling them on for a profit. The whole thing is heavily reliant on raising capital for the initial purchase then restructuring the loans for further investment. They've borrowed heavily buying the club and are using the development of a new ground to get a return in the long run. The other problem they have is that the two owners had a little falling out and weren't talking to each other for a while which will not fill bankers with confidence when dealing with them particularly when one of them was looking like selling part or all of his stake.

 

[Tom Hark Preston Park]

Apart from anything else, it's ALWAYS Black Armband Time in Liverpool

 

[Lady Whistledown]

Can that poor blighted city take any more suffering?

Oh I know, they've had it so hard over the years.

Thank goodness they've got their legendary sense of humour to take away some of the pain then.

 

[Braders]

can think of worse places to be waiting for a new stadium ..

 

[Cheshire Cat]

No surprise here. They were supposed to have started work 2 years ago, and have spent all the time since wrangling and failing to come up with the cash...
Liverpool City Council Agenda for Executive Board on Sep 8 2006 8:30AM
http://icliverpool.icnetwork.co.uk/0500liverpoolfc/gronudmove//tm_headline=john-thompson-shared-stadium-route-is-simply-the-wrong-option26method=full%26objectid=21949691%26siteid=50061-name_page.html
icLiverpool - New blow for LFC stadium as NWDA witholds 9m

Everton fans are also deeply skeptical about their move to Kirkby (sponsored by Tesco).