Ian Ayre Manging Director of Liverpool FC has spoken about how LFC was brink of administration before Fenway Sports Group took over the 5 Times European Champions.
In a interview Ian Ayre has told what state LFC before Fenway Sports Group took over. He stated “It is no secret, it’s like that TV programme – Seconds From Disaster. We were sort of in that vein. It was horrific to see the football club in that state.” Before the take over of Liverpool the club could not pay off debts due to Lack of Champions League football and low league standings. The Red Machine was falling apart. The board members had to take drastic actions and ended up selling the club to Fenway Sports Group in 2010. When the club was sold to Fenway its chances of survial from adminstration drasticly increased and the club we see today was being formed.
Fenway Sports Group have raised alot of money to fight off Liverpool’s debt. They have gained many new sponsors such as Subway, Dunkin Dounts and Vauxhall which pay out millions of pounds a season.Warrior also give out 25 million pounds for their kit deal with the reds. The Champions League also has huge financial benefits for clubs. LFC stands to gain extra funding from Standard Chartered and other sponsors. The Champions League is so lucrative that 3 games in the Champions League is financially equivalent to winning the Europa League! Extra funds can be used for the youth academy and modernising the training facilities. The stadium is due to be expanded to hold more supporters and money can be used to purchase top class players. With correct use of resources, Liverpool can maintain their Champions League status for many years to come.
With new plans for the expansion of Anfield and the excitment of the Title Race building up it looks like Fenway has saved The Redmen and given them a bright future.
By Ahsan Majid
@Cookies_SAAAN_
