RAFAEL BENITEZ gave only a cautious welcome yesterday to Tom Hicks’s and George Gillett’s commitment to sell Liverpool as he admitted experience had taught him to be wary of the co-owners’ promises.
Hicks and Gillett signalled the beginning of the end of their turbulent three-year reign by appointing the British Airways chairman, Martin Broughton, as Liverpool’s new independent chairman with a brief to oversee the sale of their entire stake with immediate effect.
Broughton announced his arrival by pledging money for new players and support for Benitez, who has endured a troubled season at Liverpool but is coveted by other clubs. “Rafa is a good manager, we want him to stay and he’s under contract to stay,” said the Liverpool chairman.
Benitez’s response was guarded, however. The manager said his outlook has not altered since he claimed he had taken the club as far as he can – without new investment – before the Europa League defeat of Benfica.
“You always have to believe things will improve, so it is good news and hopefully it will be true,” said Benitez. “My experience says it is better to wait and see what happens.”
Asked if he felt more optimistic as a result of the co-owners’ intention to sell, he replied: “At this moment it is more or less the same [as before Benfica]. My concern at the moment is whether Fernando Torres is fit and preparing the team for next week’s games.”
Broughton’s arrival does at least end the paralysis that has hindered major decision-making since the business relationship between Hicks and Gillett fractured in late 2007.
A new five-man board has been proposed – comprising Broughton, Hicks, Gillett, the managing director, Christian Purslow, and the commercial director, Ian Ayre – and the Americans have bought time for the sale with a six-month extension to their refinancing deal with RBS and Wachovia.
“The club has the full support of its existing bankers for this process and has financing in place which will fully support the club’s operations,” read a statement.
Barclays Capital has been appointed to conduct the search for new investment. The co-owners had previously employed two banks, Rothschild and Merrill Lynch, to find buyers for a partial share in Liverpool. It is thought a 100 per cent sale will be far more attractive to investors. Interest has been expressed from India, China and the Middle East.
A €125 million offer for a 40 per cent stake, from the Rhone Group, has been the only official bid so far and the deadline on that deal passed last week.
Broughton said: “What is best for the club is somebody to come in and build the new stadium, and make sure that there is enough money to take the club forward. . . I think everybody concerned, fans, players and the manager can all look forward to a very bright future.”
Without a swift deal Benitez’s transfer budget will consist of funds from the refinancing deal plus the sale of players. Hicks and Gillett value Liverpool at around €570m but whether they will lower their asking price remains a deciding factor.
GuardianService
