Dear Mr Hester, please save Liverpool FC
FURIOUS fans are stepping up their protests as the clock ticks down towards the deadline on Tom Hicks & George Gillett's debt.
Reports that Liverpool FC co-owner Hicks is desperately trying to negotiate finance to meet the early October date set by the Royal Bank of Scotland (RBS) has galvanised fans, who again feel left in the dark after all indications pointed to the club being sold.
Action is planned by the Spirit of Shankly supporters' union at the forthcoming home games with Sunderland and Blackpool with options including a sit-in protest being discussed.
And fans continue to write en masse to the RBS, urging them not to consider any extension or refinance options for Hicks.
Some supporters are also threatening to withdraw funds, close accounts and transfer credit cards, mortgages and loans from RBS and related companies unless they act in the interest of the club and its fans.
Here's one fan's letter to RBS chief executive Stephen Hester, who has admitted Hicks and Gillett borrowed too much money to acquire Liverpool FC.
Chief Executive Officer
The Royal Bank of Scotland Group
Dear Mr Hester,
As the deadline for repayment to your bank of loans made in respect of Liverpool FC fast approaches, I would like to make crystal clear the position of Liverpool fans:
1. The current owners of the shares have sent the club into a continuous crisis since early 2007. Virtually all of the promises they have made have been broken in relation to a new stadium, player investment and, more recently, over the sale of the club.
2. It should be clear to you and your colleagues by now that Liverpool fans consider Tom Hicks and George Gillett to have been utterly irresponsible custodians of a world-famous football club, a club that is also a hugely important part of the Liverpool community.
3. While you are responsible to your shareholders and to all of us as taxpayers, we believe that if you facilitate a refinancing of the Hicks and Gillett position you will be consigning the club to years of mediocrity as players will leave, investment will totally dry up and the owners will milk the business to fund their personal lifestyles. In short, we believe this would be an immoral act.
4. We understand that among the options available to RBS would be to take control of the club itself or even place the club into administration. While neither option appeals to fans, nor very likely your bank, such options are preferable to refinancing Hicks and Gillett and, in my view, would be more likely to lead eventually to new, well-financed, responsible, long-term owners.
5. I understand that the club is financially constrained. I equally understand why potential investors either refuse to deal with Hicks and Gillett or pay them an equity return when there is no equity value there any more.
I believe, therefore, that the main responsibility for removing these figures from our club rests on your shoulders and I urge you not to shirk that responsibility.
In my view, the future of this revered institution rests in your hands.
A Liverpool fan
|Last Updated ( Wednesday, 22 September 2010 18:12 )|