The deal is “done”

Naturally, a little more than 12 hours after I post something about my confusion over refinancing et al, they announce it’s completed. Unsurprisingly, Hicks has also released the new stadium designs at the same time. Yes, we’re all just blinded by shiny objects and forget what was bothering us before we saw them.

So what do Hicks and Gillett have to do besides actually build the stadium before I’ll have any faith at all in them (Gillett has been very noticeable in his absence from today’s events by the way)?

1) Sign Mascherano.
I’ve seen the talk about how he’ll be a “gift” to the Liverpool fans (how delightfully patronizing!). Just get it done. Now.

1a) Sign Benitez to a new deal.
Yeah, it probably wouldn’t be worth the paper it was written on and I know he’s still got a couple of years left on his current deal, but in signing it there would be a sign that Benitez feels he could continue in his position.

2) Either fire Rick Parry or tie Foster Gillett to his desk.
Preferably both if Gillett’s still insistent on having his son Tommy Boy stick it out, but here’s hoping Foster’s not happy on the Mersey. There cannot be a breakdown in communication between owners and manager again, and I blame Parry for much of it.

3) Use money from the refinancing to spend on players in the summer.
Again, I’m awful at finance, but according to Barrett (who also included the Masch “news”) £350m breaks down as follows: “£105m will be saddled on Liverpool, with £185m secured on Hicks and Gillett's holding company Kop Investment.” I don’t know where the remaining £60m is supposed to go (absorb the previous debt?), but I assume the £185m on Kop Investment is for the purchase of the club last year, so in a way they can say they bought the club without putting the debt on the club (which is exactly what Glazer did). Which would mean the £105m is for starting the stadium, operating costs, and more players. Please buy more players; this season’s proved the need for it.

4) Be fiscally smart enough to keep Liverpool from doing a Leeds.
Liverpool could be on very thin ice if they fail to make the Champions League or similarly struggle in the league. Revenue to keep up interest payments will be crucial. This is the price of doing business like this: failure could mean serious trouble. Hicks and Gillett have to be smart businessmen, or at least have some around, while providing and allowing for success on the field. Which means they’ll have to stay the hell out of on-field matters and give full reins to the manager.

5) Remember Shankly.
The great man would be spinning in his grave. “At a football club, there's a holy trinity - the players, the manager and the supporters. Directors don't come into it. They are only there to sign the cheques.” Remember it. Put it on those office motivational posters and hang them around Melwood. Tattoo it on the faces of both Hicks and Gillett. Do not break this rule ever, EVER, again.

I am still utterly furious at the owners, for the fiasco in the media and the lies. I will never forgive Hicks for the Klinsmann news hitting the papers.

But I also remember Arsenal taking out multiple loans and refinancing them at least twice more during the building of the Emirates. And while United under Glazer as a comparison doesn’t warm my heart in the slightest, their success has proven that if the business is run right and coupled with success on the field, a borrowed takeover and debt repayments won’t sink the club. There are a lot of ifs, but at least there’s some precedence for this type of refinancing/building plan working.

It’s still a sad time for the club, and by no means are Liverpool and the fans out of the woods, but at least there’s the beginning of a possible light at the end of the tunnel.

Gillett and Hicks and the new stadium

There will be a fair bit of talk about the new stadium, with 3 photos of the new design released today, and many others will cover it far better than I’m able to.

Liverpoolfc.tv main article
Liverpoolfc.tv portal to other articles
Liverpool Echo main article
BBC Sport article
RAWK stadium thread

I’d just like to make one point in regards to Gillett and Hicks.

The new owners said their first priority would be signing current players to new deals. Gerrard, Carragher, Reina, Alonso, Sissoko, and Finnan all now have new deals.

They then said money would be made available for new players, with no set figure, just depending on Rafa’s needs and wants. Well, Torres was signed for ~£20m, Babel for £11.5m, Benayoun for ~£5m, and Lucas for ~£5m, while bringing in Voronin on a free and innumerable youth players, with only £20m or so recouped through the sales of Bellamy, Cisse, Garcia and Pongolle.

Gillett and Hicks also promised a redesign of the new stadium plan, to take into account fans’ desires and the legacy of the Kop, making the new stadium more unique to Liverpool, while leaving room for possible expansion to increase the number of seats from 60,000 (which is what the first planning application approved) to a potential 76,000-78,000. With today’s announcement, it appears they’ve fulfilled that promise as well, although there’s still a good bit of work to be done. But they’ve made all the right steps, including tailoring the new design to make the new planning application as near to the old one as possible in the hopes it will be expedited, and beginning discussions over improving infrastructure to the stadium which would allow in the increase in capacity.

Yes, it’s still early, and yes, I’m still not completely convinced, but honestly, Gillett and Hicks have done everything they’ve promised so far, and that needs to be recognized.

If you build it, will they come?

The Liverpool City Council’s approved the new stadium plans. If the financing is confirmed by the end of the month, the European Union grants will kick in, and construction could start by January.

It feels weird commenting on Liverpool’s proposed stadium, as I’m not a Scouser, I don’t live in Liverpool (let alone England). I can’t really comment on the proposed regeneration of the Stanley Park area, which is one of the main aspects of the move, other than selfishly stating that I’m sure it’ll be beneficial for tourism. I’ve been to Anfield once, and wasn’t even able to see a game (I guess I do have first-hand experience how hard it is to get tickets), just the museum and stadium tour. I’m familiar with the out-of-towners, woolyback, keep flags scouse, etc debate, and I want to be sympathetic to that. I’m a fan of Liverpool thanks to the globalization of the game, but more than a few Liverpudlians resent this aspect of sport and you have to be considerate of that. Yet, I feel the need to comment, as it’s obviously a move that has an enormous impact on the future of the club I support.

Being an American, I’m more than familiar with the corporate aspects of sport, and the need to make as much money as humanly possible. I’ve seen numerous stadium debates in all the major sports; there’s far too much similarity in the debates over Yankee Stadium and Fenway Park and “new Anfield.” Not only are fans worried about cookie-cutter stadiums with no soul (and believe me, far too many arenas this side of the pond have this problem), but there’s years of history tied into the stadiums left behind. Nowhere more so than Anfield.

Liverpool wouldn’t be Liverpool without its fanatical attachment to the history of the club. Anfield is a major part of that; the Spion Kop is synonymous with Liverpool. “This is Anfield” is more than a slogan, it’s the belief that Liverpool’s home is a fortress and teams must fear playing there. It’s too bad it’s not possible to renovate Anfield, but it’s logistically impossible and completely cost-inefficient. And something has to be done. More modern facilities are needed. 45,000 seats in nowhere near enough for a club the size of Liverpool. More importantly to the directors, the corporate hospitality suites, where the majority of ticket revenue is to be had, are shocking underutilized, and a new stadium with modern suites would be a major boon to the club.

The news in recent days leads me to believe that Parry and the board are more secure about the financing than ever before. Moores’ reticence to dilute his shareholdings for less than the exorbitant fee he was asking has led to questions over investment, and even the possibility of building a new stadium, for going on 3 years now. Either the supposed investment discussions occurring over the summer are farther along that anyone’s reckoned or the club has taken a look at the shirt/stadium naming deals (and debt…) that Arsenal’s acquired from Emirates Stadium and has decided to move forward regardless. The club really has no choice but to push on now, or risk losing up to £15m in EU funding, but any way you slice it, this is a very good sign that there will be progress.

Plus, there’s good news for the bitter half of the Mersey. You’ll now be even closer to a real football club.

More info:
Liverpool Echo and Daily Post coverage of the move
RAWK’s Stadium Debate Forum
Liverpool get go-ahead on stadium