• Premier League

Liverpool back from the verge of oblivion - Ayre

ESPN staff
October 12, 2011
Liverpool are once again able to challenge for Champions League football following the takeover of Fenway Sports Group © Getty Images
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Liverpool managing director Ian Ayre insists the club are finally back to a state where they can deliver success over the next few years, having reached a point only 12 months ago when he admits the Reds nearly went bust.

Liverpool prepare to take on fierce rivals Manchester United this weekend, in the same week that they mark the one-year anniversary of their takeover by Fenway Sports Group (FSG). Victory for Kenny Dalglish's side would lift Liverpool to within three points of United in the Premier League table.

The picture at Anfield is looking decidedly more positive than before the arrival of FSG, who helped remove the club from the clutches of former owners Tom Hicks and George Gillett. Ayre confesses there was an almighty chance of Liverpool falling into administration under Hicks and Gillett, labelling the situation a "disaster".

"Certainly the bank had the power to call in the debt and at the time there wasn't anyone ready to take on that debt. So I guess the answer is yes, the club could have gone into administration," Ayre stated in quotes carried by the Daily Mirror.

"Based on where we were and based on the circumstances at the time, that (administration) was a very real threat. That was the case in the final hours. That was one of the other routes we could have gone down.

"We really were on the edge. What you had was a domino effect of things. Debt was going up and the cost of servicing the debt was beyond what we felt was reasonable.

"Obviously we had a very negative reaction from the fan base which was starting to hurt the commercial revenue. The debt servicing became even harder because the revenues became smaller. If you can't invest in the team, as we've seen, the fallout is no European football etc."

Given the gloomy situation Liverpool were in, with debts reported to be rising above £450 million by the day, it seems unthinkable that they managed to recover to a position where they were able to spend in the region of £50 million on players during the summer. Ayre, though, can see a bright future for the club - insisting the ship is finally pointing in the right direction.

"It was a disaster that we have recovered from. We are now where we should be and heading in a better direction and in a better shape and set up as a business to perform and deliver," Ayre insisted.

"If you really think where we were 12 months ago, it couldn't be more different. We've managed to get it back that quickly, when it could have had a lot more lasting damage - where we are today, I don't think we could even hoped to be this far ahead 12 months ago."

© ESPN Sports Media Ltd.
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