Just a year ago Liverpool a mighty proud football club with 18 titles , with only Manchester United with 19 titles better then them. The. M.D. of Liverpool Mr Ian Ayre, says the club nearly went bust under the ownership of the two Yankees. Tom Hicks and George Gillett.
What happened here was that the two Americans brought the club on a loan from the R.S.B.. And the debt of the club was a huge 450 million pounds. And it kept increasing daily.
There was a time when people on the board really thought that Liverpool would soon be under the Administrator . To think of a club like Liverpool which has a big history of football, and is famous like Real Madrid, Barcelona and A..C. Milan. to go bust was unthinkable.
But really what went wrong? It was the big recession that affected in the U.S.A and England. The same problem was also faced by the Glacers , who brought Manchester United on loan, . Who could see a recession coming, nobody could.
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