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Oct 6, 2010

Broughton reveals investment plans

Liverpool chairman Martin Broughton has revealed that the club's new owners will provide cash for new players in January and are committed to building a new stadium.

Broughton and co set for High Court
Owners to stick with Hodgson
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• In profile: John W Henry

New England Sports Ventures (NESV) is expected to complete a takeover of Liverpool within a week, with Broughton - as well as fellow board members Christian Purslow and Ian Ayre - set to take pre-emptive legal action against current co-owners Tom Hicks and George Gillett.

Broughton is convinced the prospective new owners will be able to take the club forward, starting with making money available for both short-term and long-term success.

"They don't want any hostages to fortune, very sensibly, so they're not going to make any comments about how much or anything like that," Broughton said. "But this goes back to the winning mentality.

"I think the demonstration is: let's look at what they have done at Boston, what they said in Boston, what they have done in terms of investing in players - and I think you get a high degree of confidence of their willingness to do that."

On the issue of a new stadium, Broughton said: "There's definitely a commitment to invest in a stadium. Where they haven't finalised their view is whether that should be the new stadium or whether there are still opportunities to build at Anfield itself. They have done both.

"The people involved have built the new stadium at Baltimore Orioles, for example, and at Fenway Park they looked at the two options and decided that actually redevelopment with all of the tradition was better than a new stadium."

In a statement, NESV has promised to rid the club of their crippling debts and restore the Reds to their "rightful place" in football.

"NESV wants to create a long-term financially solid foundation for Liverpool FC and is dedicated to ensuring that the club has the resources to build for the future, including the removal of all acquisition debt," the statement read.

"Our objective is to stabilise the club and ultimately return Liverpool FC to its rightful place in English and European football, successfully competing for and winning trophies.

"NESV wants to help bring back the culture of winning to Liverpool FC.

"We have a proven track record, shown clearly with the Boston Red Sox. The team has won two World Series Championships over the past six years. We will bring the same kind of openness, passion, dedication and professionalism to Liverpool FC."

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