Purslow rules out sale of prized duo

CHRISTIAN PURSLOW, the Liverpool managing director, has said Fernando Torres and Steven Gerrard will not be sold simply to service debt loaded on to the club by Tom Hicks and George Gillett. He also confirmed a complete takeover of the Americans’ shareholding remains an option for potential investors at Anfield.

Yesterday the club completed the signing of Argentina international Maxi Rodriguez on a free transfer from Atletico Madrid. The 29-year-old winger has penned a three-and-a-half-year deal with Rafael Benitez’s side. The deal is subject to international clearance.

However, it has been another turbulent week for the Liverpool hierarchy, with Tom Hicks Jr resigning his position as a director following an email row with a fan. But Purslow issued assurances about the stalled stadium project and his ongoing search to attract investment as part of an equity raise demanded by the banks that granted Hicks Sr and Gillett their latest refinancing deal in July.

Benitez has admitted an outlandish offer for Torres or Gerrard would be discussed by the board, but Purslow insisted: “The suggestion in any way that we would sell players in order to pay down debt or pay money to our owners is preposterous. Neither is true. Neither is possible. Any proceeds we generate from the sale of players can only go into our player account for the recruitment of new players.

“It’s in the public domain that the owners have been looking to bring new investors into the club to pay down the existing debts – which are today about £237million (€266 million) – by way of issuing new shares which would dilute their shareholding in the club.”

Despite claims at the time of Liverpool’s successful application to be part of England’s 2019 World Cup bid that work on the club’s proposed new stadium could begin before April, Purslow admitted fresh investment must occur first. “The process of bringing in new investment and reducing our debt will create a context whereby we can seriously get back on track the stadium project,” he said.

Hicks and Gillett intend to dilute their shareholding rather than sell up entirely and forgo any profits made once the stadium project is under way, but Purslow has conceded a complete takeover cannot be discounted in a limited market. “Provided all goes well, there is a serious possibility of new fresh investment. We are operating in an environment where it hasn’t been the most active investment market. However, the devil is always in the detail and in coming months our job is to get somebody over the line that makes sense for all concerned. That could be part ownership or it could be complete ownership.”

Guardian Service