NEW OWNERSHIP NEEDED BEFORE NEW STADIUM BUILD

According to Managing Director, Christian Purslow at Liverpool Football Club, it seems that the Premier League club will have to seek new ownership before banks will lend the club money to build a new stadium.

It has been well documented that the Reds are wanting to move away from Anfield with a new stadium at Stanley Park the likely destination, but the news that the club will need new or part owners in place before funds will be ready has put development plans on the back burner for now.

Purslow said: "Late last year, the bank market was essentially shut. It's now very much open for business and a number of banks are very interested in financing our new stadium.

“However, a condition of all those banks' interest is that in the first instance, we have brought new investment into the club.

“So I see it as a two step process; new investment in the next couple of months which reduces our existing debt to a very low level, to enable us then to push on with discussions with banks about financing the stadium."

Purslow believes it is imperative that the club seeks new owners to take the football club forward from this point.

"It's that stadium which holds the key to us transforming our fortunes both economically and in football terms," he added.

"The stadium is absolutely central to the club's strategic development because with a new stadium comes a transformation in the financial resources of Liverpool that can be ploughed back into the core of our activity - which is our playing squad."

Posted on 18/01/2010