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Broughton not a happy man "allegedly"

Mitch

By Mitch,
in FF - Football Forum

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Mitch Enthusiast

Mitch

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Reuters Sports 535pm US Eastern

 

 

New Liverpool Chairman Martin Broughton is said to be considering his position less than 2 weeks in to the job.

 

BA Chairman Broughton was shocked to find that the true level of debt associated with the club is in excess of 400M GBP

 

Broughton was led to believe that the club through its owners Kop Holdings was 237M GBP in debt after 100M GBP had been paid off to RBS over the last year but true figures reveal that the debt was only reduced by 60M GBP and currently stands at 277M GBP.

 

On top of that he learned that Liverpool FC had its own debt level of close to 120M GBP up considerably from the 90M GBP reported in the companies last accounts.Two smaller Liverpool businesses owed 2.5M GBP and 1.75M GBP respectively.

 

Broughton feels he was misinformed by Liverpool, and in particular Managing Director C Purslow, and is strongly considering his options. Having been brought in to oversee the sale of the club he feels let down at not being told of the full extent of the debt and its impact on finding new owners. As he revealed to one close colleague ‘400M before investment in a stadium or players is a big ask of any owners

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redsfan Collaborator

redsfan

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Sorry but I cant see the club lying about the debt or keeping it from Broughton, Broughton will have done his research about the debt before he came, simple. For it to come out he is now unhappy because the debt is bigger than first thought, that just does not add up.

 

Until there is something concrete (ie it is confirmed) i find this article offensive and the usual crap. Doubt we will get a comment as Broughton stated the next time you hear from him is when he has sold the club.

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Trucker Paddy Grand Master

Trucker Paddy

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Dubvious it may be,but I wouldn't be surprised at all if something like this has gone on, the debt according to purslow is £237m IMO that's at least £110m off the yanks just breaking even, it will be £420m that the yanks will want and I'm sure broughton knew this when he took the job, Xmas time this shit will be going on still, good night

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piscinin Mentor

piscinin

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Dubvious it may be,but I wouldn't be surprised at all if something like this has gone on, the debt according to purslow is £237m IMO that's at least £110m off the yanks just breaking even, it will be £420m that the yanks will want and I'm sure broughton knew this when he took the job, Xmas time this shit will be going on still, good night

 

Fact is depending how you define debt, it's probably half true. The 237M is just the purchase debt carried by the holding company. There was an additional 90M on the books last year and it wouldn't be a great surprise if it had gone up. There have always been question marks about this 60M loan too.

 

But as Gillett and Steve Morgan have shown you can spin "debt" whatever way you want.

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Fowlers God Grand Master

Fowlers God

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That is not what was said at The Worshipful Company of Chartered Accountants where he was guest speeker this week. There was not detail but that was not what was implyed

 

I didnt look what this dude actually said- but he is only on 1 green and has donated to the site, give him some boys.

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redrosetints Grand Master

redrosetints

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Goodness, that Broughton's easily hoodwinked, isn't he? Those crafty Yanks have got one over on him and no mistake.

 

Bloody hell.

 

Indeed, Im sure he'sgutted.

 

Lets think about it, he works a day a week, so it'll take about 4 weeks for him to work out the enormity of the situation, then another 4 weeks to discuss it, then another 4 weeks saying how he's been hoodwinked and so on and so forth until his two year contract is up. (or however long it is)

 

2 years, = 104 weeks @ 1 day a week, is 104 days work for ? I wonder how much he's being paid, of the clubs money.

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