£40.1 million could have bought us a certain David Villa and we would have had change to spare for another player but instead the money went out to pay interest on the loan which Tom Hicks and George Gillett burdened on our club.
The club’s parent company Kop Football (Holdings) Limited published it’s financials (for the year ending July 31st 2009) today which I am sure will anger many Liverpool supporters like myself who keep hoping and praying the end of the Hicks and Gillett era comes soon. Also revealed in the financials was a huge payoff that former Chief Executive Rick Parry received as part of his severence package, Parry received a whopping £4.33 million (the price of two Sotirios Kyrgiakos) as compensation.
What is even more sickening is seeing that turnover has increased by £20m, operating profit by 10%, commercial revenue grew from £13.5m to £67.7m however the club made pre-tax loss of £54.9m thanks to the huge interest payments.
The only positive note to come out of the financials is that the number of employees at the club has increased by about 50% which does help the local economy.
We simply can not help it but be angry when we remember that the debt the club has was imposed by Tom Hicks and George Gillett when they purchased the club via a leveraged buyout.
BLOOD SUCKING COWBOYS, OUT NOW!!!!!
Source for finacial information The Liverpool Echo, full story here.