Liverpool chief executive Billy Hogan has revealed the club had been so badly managed under former owners Tom Hick and George Gillett that administration and potential bankruptcy was only weeks away when Fenway Sports Group (FSG) completed their 2010 takeover.
The Reds have been restored to their former glory in the 13 years since, winning six major trophies under Jurgen Klopp in the last eight seasons. FSG have brought in a careful financial model built on the 'moneyball' philosophy seen in Major League Baseball and the subject of the film of the same name.
Since flirting with going out of business, Liverpool's on-field success has included a Premier League and Champions League title apiece and an overall growth in value from £300m to over £4bn.
«Liverpool, it is fair to say, had been mismanaged and was heading towards bankruptcy and heading towards administration,» Hogan told .
«We as FSG came into that process late. Had we not closed by mid-October , by the end of the month they were going to put the club into administration, so it was bleak.
»From our perspective we were convinced by the size and scale of the club and the opportunity that existed. I think we perhaps didn't appreciate quite how big the club actually is, and having worked for the club now for over a decade I have experienced that."
Liverpool's growth under FSG has been built on three relatively simple but core focuses: winning on the pitch, infrastructure and commercial.
«First and foremost, it's the football and ultimately winning has to be the goal, and it is certainly our goal across FSG and at Liverpool,» Hogan explained.
«Secondly, we looked at the infrastructure; Anfield, the training facilities, the offices, the club superstore. You name it,Read on 90min.com