English Premiership

Hicks rules out quick sale

2010-05-27 15:30
Tom Hicks (File)

London - Liverpool co-owner Tom Hicks has ruled out the possibility of agreeing to a quick sale of the Premiership club as he holds out for a substantial profit on his investment.

Hicks and fellow owner George Gillett came under fire from former Reds owner David Moores this week as he criticised their in-fighting, financial mismanagement and failure to back boss Rafael Benitez in the transfer market.

Liverpool fans have also made it clear through several protests that they want Hicks and Gillett to go as soon as possible after they ran up debts of over 300 million pounds.

But Hicks, speaking to Sky Sports News, made it clear it could be as long as 18 months before a new owner is in place at Anfield as he values the club at 800 million pounds - a price which is over 300 million pounds more than he and Gillett bought Liverpool for from Moores three years ago.

"Since Moores's ownership in the last three years, with what we will spend this summer we will have more than doubled both the gross and net transfer spending on players," Hicks said.

"We've tried to make Liverpool as professional a club as possible. The new stadium is fully designed now and the global financing markets are back, so with the change of ownership coming we will be able to have a new stadium built and we have a great board.

"We will sell the club. We are not going to sell it to the wrong group and we're not going to sell it for the wrong price.

"We are going to take our time, do it in a very thoughtful way and try to find the right steward to own Liverpool FC. We're hoping to sell before the end of the calendar year and we don't anticipate it will be done before the beginning of next season.

"I have said 600-800 million pounds is not an unrealistic value range, but the market is the market and we'll see.

"We are more concerned about finding the right owner, someone who can make the investment, get the stadium built and help Liverpool be the best possible football club in the world."

With speculation growing that Steven Gerrard and Fernando Torres may ask to leave Liverpool before next season due to the uncertainty over the club's future, Hicks moved to calm fans' fears that they will lose their two idols.

"We have no intention of selling any of our top players and we have a substantial transfer budget in place," Hicks said.

"There's so much misinformation about transfer spending. It's more than doubled under the ownership of George and myself from the previous three years and we will make a significant investment this summer. It's really about getting the right players.

"There's been so much misinformation put out by people who have their own agendas and it's unfortunate. But the truth is the club is much better off than it was three years ago.

"We've done our best. I'm disappointed on a personal level that are efforts have not been received as well as I wish they had have been."

Read more on:    english premiership  |  liverpool
NEXT ON SPORT24X

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
Live Video Streaming
Video Highlights
Sport Talk

Fixtures
13 September 2014
Arsenal v Manchester City, Emirates Stadium 13:45
Stoke City v Leicester City, Britannia Stadium 16:00
Crystal Palace v Burnley, Selhurst Park 16:00
Southampton v Newcastle United, St. Mary's Stadium 16:00
Sunderland v Tottenham Hotspur, Stadium of Light 16:00
Chelsea v Swansea City, Stamford Bridge 16:00
West Bromwich Albion v Everton, The Hawthorns 16:00
Liverpool v Aston Villa, Anfield 18:30
14 September 2014
Manchester United v Queens Park Rangers, Old Trafford 17:00
15 September 2014
Hull City v West Ham United, The KC Stadium 21:00
Logs
Team P W PTS
Previous Results

Date Home Team Result Away Team
Vote

Is Louis van Gaal the right man to restore the glory days at United?

 
 
Men
Women
Love 2 Meet
Featured Blog

Dave ask if you would like to meet your local sports heroes and stand the chance to win prizes to the value of over R40 000.

Latest blogs
 

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

Newsletters Sign up for the Morning Glory, Super 15 and Soccer newsletters

WIN Enter and win with Sport24!

Mobile Sport24 on your mobile phone - WAP, alerts, downloads, services

Forum Have your Say on Sport24's brand new Forum!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

Blogs Yes your opinion counts. Get it out there

 
There are new stories on the homepage. Click here to see them.