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Liverpool set for new age of austerity under NESV
The club’s new owners rule out the kind of spending that was Rafa Benitez’s trademark
Liverpool may now be free from the crippling debt forced upon them by Tom Hicks and George Gillett, but a raft of big signings is unlikely as new owners NESV look to exercise tight control over Liverpool's finances.
The vast amount spent by the club on transfer fees and wages in recent years is believed to be a concern to NESV, who have examined Liverpool's finances as part of the process of buying the club.
Under Rafa Benitez, Liverpool spent more than £230m in six years on transfer fees alone and Roy Hodgson added a furtger £25m to that during his first summer at the club.
Although £36m a year has been freed up by paying off Liverpool's debts, the American consortium has made it clear it expects value for money from both fees and salaries.
"We have to be smart," John W Henry, NESV's principal backer, who will assume a place on Liverpool's board, said after the deal was completed.
"We have to be more efficient. When we spend a dollar it has to be wisely. We cannot afford player contracts that do not make long-term sense. We have to be smart, bold, aggressive. It's a great challenge."
Henry will take a hands-on approach when it comes to football matters at Anfield, and will assess suggested transfer targets and set budgets for contract negotiations of players already at the club.
If NESV's baseball team the Boston Red Sox is anything to go by, then Liverpool fans should not get their hopes up for any of the glamour signings they might have thought would follow the departure of Hicks and Gillett.
Instead, the canny investment in younger players employed by the likes of Arsenal and now Manchester United is the model Liverpool will look to follow.
"At the Boston Red Sox, we invested a lot in management and the scouting system," said NESV chairman Tom Werner.
"We believe the foundation of any good sports club has to be the experience, valuation and understanding of scouting, so we will invest in that as well." ·
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Sounds like Yosser is advocating for the Arsene Wenger approach. The gooners are coming and many will fall in awe! Keep talking about "Will Fabregas stay?" at your leisure, but remember a genius will do what comes naturally. The invincibles never went away, they just abstained from the cash ejaculations that once seemed like a sure fire way to success. Putin is on his way back, will he still be happy to let Roman Abramovitch play the playboy forever? Man U, Chelsea, Liverpool are our only true rivals (nice one Harry but its never gonna happen) and they are all walking a very fine line. PS Dont even bring Sheik Mansour into this.
Here we go again NESV have no knowledge of Premiere league football they may have much more knowledge of the NHL. The manager is the one who should decide on who we buy not the board.
Here we go again!!!! Back to square one----Any money recouped from interest payments will go back to the owners. Why must we always get landed with people who have no interest in fooball, only in the profit ethic.NESV have already ruled out a new stadium and will tag on any extra seats to Anfield, that's if it's not too expensive!!!! They will then increase seat prices to get bak any expenditure on refurbishment.
How can LFC attract any decent Manager who will not be allowed to buy players who will have to be assessed by (the owner who knows sweet fa about football) before he can buy. ..Disgusted Dave
Great - sounds like LFC will be a properly managed, forward looking business - I'd like to say you can't buy greatness (I'm sure Chelsea would disagree though), but maybe you can't buy Character would be more accurate.