Hicks committed to new stadium

But £450m from sale of Texas Rangers will not be used on project

Last updated: 7th September 2009   Subscribe to RSS Feed

Hicks committed to new stadium

Hicks: Permits in place

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Liverpool co-owner Tom Hicks is adamant that he remains committed to building a new stadium for the club.

The Reds were planning to open a replacement for Anfield in neighbouring Stanley Park, with the new ground designed to have a significantly increased capacity.

But last week Liverpool's new managing director Christian Purslow admitted the reported £490million project had been put on hold until the end of the global recession.

Hicks has confirmed that is the case and the new stadium will not progress anytime soon, despite the fact that the American is set to receive £450m from the imminent sale of his baseball franchise Texas Rangers.

Management focus

He said in the Liverpool Daily Post: "Rangers and Liverpool are totally separate investments, so there is no connection.

"I do plan to keep a significant participation in the Rangers. We are close to winning our division. I want to finish what we have started.

"Liverpool will obtain stadium financing when the financial market opens back up. We have all of our permits and will be ready when the market is ready."

Meanwhile, Hicks, who co-owns the Reds with George Gillett, has praised the impact of Purslow since his appointment in June.

He added: "Christian Purslow is working hard. Liverpool's new management focus is producing great new commercial results that will become known in due time."

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Comments (20)

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Josh Ashdown (Liverpool fan) says...

I agree with a lot of other people commenting on this. That Liverpool really need to concentrate on dominating the football field again! A new Stadium should be the least of their worries. Especially with a bad start like this.

Posted 11:49 8th September 2009

Matthew Attwood (Liverpool fan) says...

So basically, as soon as the global financial crisis ends (who knows when?) he plans to spend extravagantly by taking out a major loan he can't hope to pay back. Hmm, I've heard of this happening before somewhere...

Posted 08:38 8th September 2009

Mark W (Liverpool fan) says...

Why must the yanks go? Surely you must see that with the amount of money they have invested in the club that they can only be wanting the best for their investment?!? It does not make commercial sense to throw money around so that you can have your stadium built when you already have a perfectly good stadium which rich history, in doing so the only thing you'll be doing is crippling the club for years and years to come. Support the club, the owners, the manager, the team and you'll find that when you act as one trophies will follow.

Posted 03:39 8th September 2009

Garry M (Liverpool fan) says...

I think its disgraceful that mr Hicks and Gillett have brought so much debt to liverpool fc,a club i have supported for over 30yrs.They need to invest some of the money they now seem to have got to clear the debt or move on........

Posted 20:25 7th September 2009

Avinash Aunaruth (Liverpool fan) says...

Hick and Gillett are both in deep financial conundrums.Hicks said he would not Sell Texas but then finds himself doing it.Gillett says he will Never sell another Legend club the Montreal Canadians but now it is up for grabs.why don't they just sell the club to DIC or any one else.The reason to wait or delay the stadium construction will be costly to them and the club and i think they know it. A project which was 350 milion now cost 490 million after 1 and a half years and in a recession.Some experts says the global recession might last 10 years at least.What then????Wait for debt to grow or till we go bankcrupt. By the way, Gilette is doing in part what he has done with the Montreal Canadians over the years..sold all the good players and replaced them with old veterans and young ones. Liverpool looks on it's way as well

Posted 19:41 7th September 2009

Ismail Haroun (Liverpool fan) says...

Yes a new stadium would be fantastic,!!! We wll become the best team in Europe and England. What a stadium STANLEY PARK.

Posted 19:32 7th September 2009

Cody Riedy (Liverpool fan) says...

Why bother with the new stadium at the moment we need to work on building and maintaining our squad at the moment! I think hicks needs to give Rafa some of the cash he's getting for rangers and let him buy a few more top quality players! Liverpool need more depth in the squad! We need another quality midfielder a winger n definitely a new striker to play with torres or even a back up to him. so i say if your gonna leave the stadium n want to win the league give Rafa the cash n tell him buy who he wants to jus win the league!!!

Posted 17:58 7th September 2009

Dave Nigel (Liverpool fan) says...

Cant we build on what we got at Anfield and put some money to get few more players like maybe silva or Augusto why cant we go for Fabregas i'm sure he could have been attempted to come to anfield if we had the money to try and buy him he would be even better then what Alonso did

Posted 17:39 7th September 2009

Gavin B (Liverpool fan) says...

I understand about not building the stadium for the time being, but until the global crisis is over that could be years!(maybe more for the uk with G Brown in charge) Plus why have neither invested money into the squad? Gillett has already sold the montreal canadians and now Hicks is selling his hockey team! Think i would rather have scrooge as our owner, come on yanks dip your hands into those deep pockets!!

Posted 16:29 7th September 2009

Tee Hodgkiss (Liverpool fan) says...

I think we should concentrate on our football and winning the league before messing about with new stadiums. Yes a new stadium would be fantastic but theres nothing wrong with Anfield.....why fix sumat that aint broke???? We shud try and become a major force in European football like in the 80's ad move on from there

Posted 15:41 7th September 2009

Dick Miller (Liverpool fan) says...

I never thought I would see the day when LFC would be in this position and I have supported them for 60 years and could cry after seeing some of the football that this great club has been involved in but I sincerely believe we will once again reach the heights.

Posted 15:25 7th September 2009

Lee Speech (Liverpool fan) says...

We need D.I.C or someone with more money Tom Hicks as sold his Taxes Rangers for £450 million so why doesnt he spend it then or less we wont make it in the top 4 and then we willl have problems at the club. They just need to put there money to gether and get more funds for Rafa its not fair what there doing like but if there not careful Rafa is going to quit

Posted 14:24 7th September 2009

Pete Shaw (Liverpool fan) says...

I think all the doubters fail to see the business sense in what Hicks is talking about! In the current market they will be made to pay over the odds for loans to build the new stadium and by the time the market has settled they will be able to put some cash towards it as deposit and borrow at a cheaper rate. remember as owners they should be trying to run a club with a long term vision! have patience and faith and keep supporting our club, through thick and thin regardless of the owners! walk on through the rain remember! YNWA

Posted 13:57 7th September 2009

Paul Mcneela (Liverpool fan) says...

What the point building a new ground when we cant fill Anfield? Get real people!!!1

Posted 13:49 7th September 2009

Espen Rislow (Liverpool fan) says...

Listen guys - even though I agree with you both - the people to blame more than anyone, is David Moores and Rick Parry. They sold the club to these guys. Had they done their homework, the sale to the Yanks would never happened.

Posted 13:45 7th September 2009

Gathigi Njoroge (Liverpool fan) says...

I am yet to understand what his objective with the club is.He can't put his money where his mouth is,Takes loans to cripple the club,Takes revenue from player sales into his pockets and applauds Purslow.My bet is that Rafa woun't be here for long and Neither will the club. From what he did at Corinthians,the future is bleek!!

Posted 13:44 7th September 2009

Chris D (Liverpool fan) says...

They don't care about Rafa, They don't care about fans, Liverpool football club - is in the wrong hands.

Posted 13:39 7th September 2009

Jesper Walberg (Manchester City fan) says...

Man alive I am glad our owners are not like the rest of the bunch! Allready investet millions in infrastructure, youth academy, webpage and tens of millions in signings:-)

Posted 13:31 7th September 2009

Alex S (Liverpool fan) says...

What a load of rubbish. Sooner they disappear back the better. They have done NOTHING to improve the club and refuse point-blank to provide money for transfers. They even TOOK some of the money from the sales of players away from Rafa. They haven't a clue about "soccer" and should let someone who actually cares about the club take charge.

Posted 12:22 7th September 2009

Angry Mclivid (Liverpool fan) says...

So he isn't planning on backing the team with his own money, and wants to wait until he can put more debt against the club? There's a shock! Won't back the manager, won't support the team, renegged on building a new stadium (6weeks has turned into another 11 years pretty quickly).

Posted 12:16 7th September 2009
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