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