Bad news on the building off the new stadium at Stanley Park with new M.D. Christian Purslow saying this afternoon ''Construction on the new stadium will begin when the current contraction in the banking industry ends''.
In other words when Hicks and Gillette can find a bank daft enough to lend them £450 million to build a stadium which, without significant personal investment by the owners, will only saddle Liverpool FC with huge debts which could cripple the club and end up meaning we have to sell Torres and co. just to pay the interest on the new debt.
While Hicks and Gillette stay in charge of the club, I hope the new development does not come to pass.
I would much prefer it if the two Yanks sold their stakes to a buyer who will invest their own money into the club to build the stadium with their own cash.
Moores should have sold to DIC that time, maybe its not too late.
But without significant private investment by somebody, we are facing major problems building the 60,000 seater stadium.
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