Soccer Clubs: Big Money, Growing Woes
Liverpool FC's American owners, faced with insurmountable debt, are looking to sell. It's a familiar story in the high-stakes world of European soccer

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American billionaires George Gillett and Tom Hicks were in the vanguard of sports investing when they shelled out $310 million in 2007 to buy Liverpool FC, one of England's biggest and richest soccer clubs. Money was easy, so they took on $500 million in debt to build a big new stadium and cover the team's operating costs. The payout looked promising.
Then the global credit crunch hit and the math started to fall apart. The stadium was postponed and the Americans finagled a six-month extension on their loan. But the $500 million comes due in July 2009, and refinancing in the current climate seems implausible. Instead, Gillett and Hicks hope to sell the club for as much as $700 million—still not a bad return on investment—to Middle Eastern buyers.
Investors Back Off "Football"
So it goes these days in the high-stakes world of professional soccer. Despite revenues last year that topped $270 million, Liverpool's financial predicament is becoming an all-too-familiar tale for soccer clubs across Europe, especially in the world's most lucrative domestic championship, the English Premier League (EPL). Spiraling player salaries, uncertainty over future corporate sponsorship deals, and the deteriorating global economy have made many investors wary of owning a piece of the world's most popular sport