Thursday, November 4, 2010

Henry Not Ready To Give Any Guarantee

New Liverpool owner John Henry has promised not to load any of his 'acquisition costs' on the club, but has not given any formal guarantees. Henry's NESV group purchased Liverpool in September, taking over from Tom Hicks and George Gillett, who came in for heavy criticism from some Reds supporters for their running of the club. Henry has given Liverpool chairman Martin Broughton verbal assurances, but it was decided that 'such a commitment would not be strictly legally enforceable', and was therefore not given in writing. However, Henry has stated that the majority of the debt from the previous regime had been paid off. The only money the club now owes is £37million to RBS for the cost of development work for their proposed new stadium. "The simplest thing to say is that we removed all debt but the stadium debt," Henry said in an email to the Guardian. "LFC is not servicing debt other than stadium debt." Henry did also promise not to use club finances for interest payments on any debt they may have. He refused to disclose how his takeover was funded, adding: "I have certain obligations to my partners regarding confidentiality of a private company and in not disclosing our financials publicly. "LFC discloses its financials annually, so monies going in and going out are disclosed. But I'm not going to disclose NESV financials or financing information."

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