Parry package – did it affect sale?

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When the financials were released yesterday the news-media focused mostly on the  payout that Rick Parry received. To be honest it did not bother me at first, I thought that £4.3 million was a small price to pay  to get rid of him.

The amount is almost two and half times that ever paid out as severance to any Premier League Chief Executive. The record prior to Parry’s was Arsenal’s Keith Edelman who received £1.5 million when he left the Gunners. Thinking back now I am actually starting to smell a rat and have some questions that I wish someone would answer.

In order for Parry to receive such a compensation there must have been some kind of contract drawn, when was this contract drawn? Was it drawn right after Hicks and Gillett bought the club?

While I am not one that believes in conspiracy theories, however it has bothered me for some time that Parry and Moores never conducted a serious due-diligence when the club was sold. I would assume that Parry would have been the one responsible for such due-diligence considering that he was the Chief Executive. Looking at the way he left D.I.C. out in the cold when it was almost certain that they were going to buy the club raises more questions, what exactly was their offer? Where they given a chance to counter-offer?

If Parry had simply Googled ‘Tom Hicks’ he would have found a lot on the Texan’s dealings especially his leveraged buyout of the Brazilian Corinthians and the failure there. So why there wasn’t a proper due diligence done? Did the 4.3 million severance package affect his opinion?

Again this is totally my speculation and my imagination however I do not believe that someone who is intelligent would miss such serious red flags about Tom Hicks.

Unfortunately we can not cry over spilled milk anymore, time to move on and hope that this will not happen again.

Stay brave my friends,
we are walking through a terrible storm.

Y.N.W.A.

-Antoine

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14 Comments

  1. Funny coincidence there Antoine. As I read with increasing horror and depression the stories and rumour emenating from our club each day this week, the words of our anthem have grown louder in my thoughts each day… Just think all we can do is keep fighting tooth and nail to get the yanks out and pray for a golden sky,and the sweet silver song of a lark…Walk on brothers and sisters.

  2. I concur. After Man U fans causing such a fuss regarding their club being bought with debt you would think the first assurance Parry would confirm contractually is that the same does not happen to us. Also the manner in which DIC were snubbed in the last minute for these bloodsuckers makes one very suspicious. Add to that the abnormally enourmous severance pay for Parry. I hope people can understand why we need to ask Broughton and Purslow their plans for our club. Two people who were bought in by Hicks and Gillette.

  3. I am sure I read at some point, around the sale to the yanks, that Parry received £1,000,000 for his part. If DIC took over he wouldn’t. Which led me to believe that it was a sweetner from the yanks.

    Perhaps someone with a better memory than me can recall the details.

  4. Parry is almost single-handedly responsible for not only selling to The Tweedles but personally profiting from it. He’s also to blame for the steady rot from the Academy, to scouting to transfers (in & out) as well as morale & Rafa’s staff. He has failed miserably to perform his due diligence & my anger at what he has done (& not done) knows no boundaries. I should have keyed his car last year when I had a chance!

  5. I think your info is wrong. I thought the £4.3 was for all the staff who left.£3m went to Parry which is disgsting, but £1.3 m is quite a difference.

    Do your homework.

  6. It is a well known fact Liverpool were sold to the yanks due to the amount of profit Parry and Moores would receive. This is old news. The accounts are pretty much what i was expecting based on the previous figures floating around and the interest charges they were being charged. RBS are to blame also for loan shark prices as liverpool pay over 10% interest :D a few people made a great deal out the sale. Hicks and Gillet have made liverpool their expenses club. Every single thing they do they stick on the company accounts as expenses. They have to sell now bc they face losing the club to the banks. And as for the chairman saying liverpool are fine is complete rubbish. If liverpool stay in the current position, liverpool will have to sell a huge number of player just to service the debt. The club will only end up like leeds or worse. Rotton to the core springs to mind.

  7. fishy….
    DIC is better than Yanks in term of stability n respect but why still choose Yanks last time. anyway, we must move on. 2010-2011 we should come back with title, Cup, and more silverware.

  8. I was appalled when I read that Parry had got such a large payoff to leave the club. Funny how the hated Yanks are now looking for a large payoff to leave the club aswell.
    Dark dark days at Anfield.

  9. when will people wake up to the fact PARRY did what was best for PARRY.he didnt care enough about LFC to make sure the yanks where a good investment for the club.
    We are in this mess because he was lining his own pockets.

  10. Great conclusion.

    We have constantly, deservedly too, been critical of the Americans. However much of the blame rests with Parry and Moores. Personal gain directed their sell out to the Americans.

    To be fair the Americans have supplied Rafa with a considerable war chest, something that Moores never did. Sadly Rafa’s forages into the Market have been potluck.

    Rafa has taken us as far as he possibly can. His constant plea for money concerns. Where will he waste another £40 million? Another Aquilani or Johnson perhaps?

    It’s time to change tack, new owners and a British manager.

  11. Thom quite clearly an uneducated fellow!

    At the end of the day they did what was best for them and the club or so they thought, just because you love a business your not going to sell it at a loss! So yes they had every right to make a profit no???

    Yes it ended up worse for the club than any could have imagined, look how much was promised and how many have turned to lies!

  12. That deal got sorted when moorse sold the club,parry would get a pay off,it was moorse that put it in ..When he sold us down the river. “For the good off the club” my arse!

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