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