Join Now  | 
Home About Contact Us Privacy & Security Advertise
Soccer America Daily Soccer World Daily Special Edition Around The Net Soccer Business Insider College Soccer Reporter Youth Soccer Reporter Soccer on TV Soccer America Classifieds Game Report
Paul Gardner: SoccerTalk Soccer America Confidential Youth Soccer Insider World Cup Watch
RSS Feeds Archives Manage Subscriptions Subscribe
Order Current Issue Subscribe Manage My Subscription Renew My Subscription Gift Subscription
My Account Join Now
Tournament Calendar Camps & Academies Soccer Glossary Classifieds
Blame the EPL, not American owners
by Paul Kennedy, October 7th, 2010 12:48AM
Subscribe to Soccer America Daily

MOST READ
TAGS:  england

MOST COMMENTED

[MY VIEW]Wednesday's news that one American group will succeed another as the owner of Liverpool, one of the most revered clubs in English soccer, brought more moans and groans from the other side of the Atlantic, where American owners are vilified. But English critics are barking up the wrong tree if they think American owners are the problem.

Liverpool has been on a downward spiral since Americans Tom Hicks and George Gillett bought the club in 2007. The Reds reached a new low last weekend when they lost at home to lowly Blackpool and fell in the relegation zone.

"Built by Shanks, Broke by Yanks" read one of the banners at Anfield, referring to legendary manager Bill Shankly and Hicks and Gillett.

Liverpool's problems weren't its owners, American or otherwise, but the English Premier League, which allowed Hicks and Gillett to buy the club with borrowed money. Just as it allowed the Glazer family to buy Manchester United with borrowed money.

Both deals proved disastrous when the world financial markets crumbled in late 2008, leaving the owners with no one willing to refinance their loans on favorable terms.

Until the EPL tightens it ownership rules like those that exist in American sports, it will have no one to blame but itself the next time a club is thrown into crisis like Liverpool has been.



0 comments
  1. Brian Herbert
    commented on: October 7, 2010 at 11:33 a.m.
    Absolutely right. Sports franchises are very different from a "real" business, and even real businesses get over-leveraged with debt. I think history shows sports franchises are best owned by one or more wealthy individuals putting in THEIR OWN money.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Soccer America Daily
TV Report: Sounders-NYCFC game draws 616,000 viewers    
The Seattle Sounders-New York City FC game averaged 616,000 viewers on ESPN, the most for an ...
What They're Saying: Jim Curtin    
"Jesse was upset with the referees, obviously. Maybe lost his temper a bit, but I've seen ...
Video Pick: Stephen Colbert on Iceland over England    
On the Late Show with Stephen Colbert, the host opened his monologue with a recap of ...
What They're Saying: Paris dog owner Lindsey Kent    
"Oliver is happy to mingle with people if they're friendly. But he feels a little scared ...
NASL: More rebuilding by Miami FC -- Kwadwo Poku    
Miami FC, the NASL expansion club that finished last in the Spring Season, continued its spending ...
MLS Countdown: Birnbaum back for long road slog    
A four-game road trip starts Friday for D.C. United and the return of defender Steve Birnbaum ...
MLS Moves: Fire and Gilberto part ways    
The bizarre saga of Gilberto in MLS has come to an end, allowing the Chicago Fire ...
U.S. Open Cup: PC move triggers Strikers' upset win    
The NASL Ft. Lauderdale Strikers, who had never beaten an MLS team going back to their ...
MLS Countdown: Injury bug bites Irwin again, Bono in goal    
Forced out of game against Orlando City last weekend, Toronto FC goalkeeper Clint Irwin will miss ...
What They're Saying: Landon Donovan    
"I realized quickly I'm not a naturally energetic, outgoing, outspoken kind of person. I have pretty ...
>> Soccer America Daily Archives