Photo: Wikimedia Commons
The purchase of Liverpool FC by John Henry’s New England Sports Ventures may not not actually happen as the club are already in default to RBS, according to Bloomberg sources.If the club is in default, and has to declare bankruptcy, it will go into administration.
The dreaded administration is where a soccer club in the English league that can’t pay its creditors is, essentially, turned over to accountants. The more damaging result is a loss of nine points in the Premier League standings.
For Liverpool FC, who currently stand an embarrassing 18th in the Premier League, the deduction could put them in a relegation fight for the remainder of the season.
More worryingly, however: John Henry and NESV have no interest in buying the club if it is put into administration, according to The Guardian.
So if Tom Hicks and George Gillet, still trying to change members of the Liverpool board, don’t move out of the way soon, Henry may jump ship and leave the club a lonely, debt-burdened mess.
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