LFC DEBT - THANKS TO HICKS AND GILLETT
In January 2007, Liverpool had a serviceable debt of around £40M. When the owners 'paid' £170M for the club they combined this debt with an even bigger loan, which they used to actually purchase the club.
Unbelievably in a little over three years the debt on Liverpool FC rose to approximately £425M (a combination of money owed to RBS and the offshore Kop Cayman set-up. Based on accounts released in May 2010 we estimated Liverpool FC to owe RBS £240M, Kop Cayman a total of £160M and further annual losses of £25M.
Even more shocking is that Liverpool, in that time, have only spent £9M on new football players.
In October 2010 - NESV completed a £300M purchase for Liverpool FC. Wiping out over £237M of acquisition debt of Liverpool FC.