Liverpool 'paying for past mistakes'
Source: AFP |
August 17, 2012, Friday
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Print Edition
Print Edition
LIVERPOOL owner John W. Henry claims the English Premier League club is still paying the price for the financial turmoil that engulfed it during the chaotic regime of Tom Hicks and George Gillett.
The Reds finished eighth in the Premier League last season - their worst final position for 18 years - and principal owner Henry is convinced the financial problems which almost forced the club into administration, have set Liverpool back years.
"The best analogy is that you can't turn an ocean liner around like you can turn a speedboat," Henry told British media. "You could say it was a bigger challenge than (when we bought) the Boston Red Sox. Looking back at the very first day, I was trying to make a point then about how much of a challenge it was going to be because of the issues we inherited.
"We had a lack of depth in the squad and some really high payrolls. We also had issues with the age of the players and so forth.
"We knew it was going to be very difficult. (Liverpool chairman) Tom (Werner) and I went for a long walk and we had to make the decision, 'Are we going to buy Liverpool?'
"We had to decide whether we really wanted to take this on, as we knew this was a huge challenge. A much larger challenge than any supporter could know.
"When you look back from this vantage point: the rivalry between Liverpool and Manchester United - Liverpool isn't holding up its side of the rivalry," he said.
Henry knows it will take time to catch up with big spenders like United, Manchester City and Chelsea, especially since the club has been out of the lucrative Champions League for three years.
The Reds finished eighth in the Premier League last season - their worst final position for 18 years - and principal owner Henry is convinced the financial problems which almost forced the club into administration, have set Liverpool back years.
"The best analogy is that you can't turn an ocean liner around like you can turn a speedboat," Henry told British media. "You could say it was a bigger challenge than (when we bought) the Boston Red Sox. Looking back at the very first day, I was trying to make a point then about how much of a challenge it was going to be because of the issues we inherited.
"We had a lack of depth in the squad and some really high payrolls. We also had issues with the age of the players and so forth.
"We knew it was going to be very difficult. (Liverpool chairman) Tom (Werner) and I went for a long walk and we had to make the decision, 'Are we going to buy Liverpool?'
"We had to decide whether we really wanted to take this on, as we knew this was a huge challenge. A much larger challenge than any supporter could know.
"When you look back from this vantage point: the rivalry between Liverpool and Manchester United - Liverpool isn't holding up its side of the rivalry," he said.
Henry knows it will take time to catch up with big spenders like United, Manchester City and Chelsea, especially since the club has been out of the lucrative Champions League for three years.
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