Sunday, 24 October 2010

Scudamore - Reds never at risk

Premier League chief executive Richard Scudamore insists there was never a risk that Liverpool could have gone out of business.
Liverpool were bought by New England Sports Ventures earlier this month, but there were fears for the club's future prior to the takeover.
A failure to pay off a £237million loan from the Royal Bank of Scotland taken out by previous owners Tom Hicks and George Gillett could have seen the Reds enter administration.
However, NESV's takeover resolved that issue and Scudamore is adamant there was never a serious danger of Liverpool going bust.
Scudamore explained: "The club was never at risk. There were bidders for it and the outcome was always what was likely to happen.
"There is nothing in place per se to stop another Hicks and Gillett happening. When they came along they passed all our tests and they would pass our current tests in terms of them as individuals."
Scudamore, however, believes the sort of buy-out put together by Hicks and Gillett could not take place in the current financial circumstances and he insists there are stricter controls in place at the Premier League.
Scudamore said: "What is different now is the extensive meetings we have with any prospective new owners and the future financial information which is required.
"The world has moved on. That sort of borrowing against that sort of asset is just not available in the market place anymore.
"Those were different times. There is no way that sort of borrowing could be obtained now to put that sort of deal together."
Liverpool v Blackburn. Click here to bet.
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