Saturday, October 16, 2010

Hodgson: Hoping To Spend Money In January

Liverpool boss Roy Hodgson has welcomed the club's sale to NESV. NESV's £300million deal eliminates all the acquisition debt loaded on Liverpool when Tom Hicks and George Gillett made their purchase in March 2007. More importantly, it reduces the annual £40million cost of servicing the loans to £2-3million, according to NESV's estimate. Hodgson is hoping by freeing the club of such a financial burden Liverpool will be able to compete properly in the transfer market. "It will mean in future we can invest in players in a different way to what has happened in the last transfer window," he said. "Then money was in short supply and we weren't even certain there would be any money to spend or even if the club would be there. "The mere fact the debts are wiped off immediately puts us into a different financial position to the one we have been in. "I haven't confirmed this but I guess the amount of money we have had to pay the bank in interest will now possibly be made available for players. "If that money alone was made available we would be quite wealthy."

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