Owners

Last week, Saudi Arabian prince Faisal bin Fahd bin Abdullah al Saud held talks with Liverpool’s co-owner George Gillett about buying a major stake in the club. Liverpool’s owners have been looking for new investment, after refinancing some of the clubs large debt earlier this year. Gillett visited Riyadh and according to reports, discussions are nearing a conclusion.

While Gillett held talks in Riyadh, American Stan Kroenke increased his share holding in Arsenal to 28.9%. At the same time, Hong Kong billionaire Carson Yeung, arrived at St Andrews, following his takeover of Birmingham City. At the moment, half of the Premiership clubs are under foreign ownership.

What Arsenal fans should worry about is not foreign ownership. They should worry about debt. The debt that some Premiership clubs are running up is disturbing. It should be controlled. What is wrong is when a new owner borrows money from a bank and puts that debt or loan in the name of the football club he has just bought or is buying.

No owner should be allowed to borrow money and have the club he is buying pay them back. It should be banned by the Football Association or the powers that be.

A case in point is Liverpool.

If Gillett and Hicks do not find new investors soon, then Liverpool will start to sink. They won’t be the new Leeds or Newcastle. They might, however, find that they are the new Spurs – a top five club that played regularly in Europe but now struggles to qualify for the Europa League.

I hope that Kroenke is not a Gillette or Hicks.

Keep it Arsenal

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