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
MLS Moves: Ian Harkes doesn't stray from D.C. backyard    
Missing out on a MAC Hermann Award winner who just happens to be the son of ...
MLS Expansion: San Diego stadium part of $1B project    
Timing is everything, and Sunday's USA-Serbia friendly at Qualcomm Stadium will give proponents of an MLS ...
MLS Camp Chatter: Diskerud not in NYCFC mix    
U.S. international Mix Diskerud, who did not play for New York City FC after June 2 ...
USMNT: Three players depart January camp    
FC Dallas midfielder Kellyn Acosta and defender Matt Hedges both left the U.S. men's national team ...
What They're Saying: CAF spokesperson Junior Binyam    
"CAF has taken action but we can't certify 100 percent it will not happen again. Even ...
Video Pick: Goals Galore by Wayne Rooney    
Sky Sports put together a compilation of Wayne Rooney's best goals for Everton, Manchester United and ...
Roster: Namazi calls in 28 for U.S. U-18 boys camp    
Coach Omid Namazi has named a 28-player roster for the first U.S. U-18 boys national team ...
Christian Pulisic extends his Borussia Dortmund contract    
Christian Pulisic, whose original contract with Borussia Dortmund ran through the 2018-19 season, has signed a ...
What They're Saying: Adam Straith    
"I had never even worn keeper gloves. That was the first time. I think you could ...
MLS players get all four goals for Canada in 4-2 win    
The Toronto FC trio of Jay Chapman, Jonathan Osorio and Tosaint Ricketts and the Montreal Impact's ...
>> Soccer America Daily Archives