Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Former Liverpool chief executive Rick Parry has no doubt the Reds are still feeling the effects of the period when they were overseen by George Gillett and Tom Hicks, who he says “we all wish passionately had not owned the club”.
American businessmen Gillett and Hicks took over at Anfield in early 2007 and their tenure lasted until late 2010, when their compatriot John W Henry assumed control.
The 2009-10 season was the last time Liverpool appeared in the Champions League and they have failed to finish higher than sixth in the Barclays Premier League since coming second in 2008-09.
Regarding the Hicks and Gillett era, Parry, who was Reds chief executive at the time of their takeover and departed the post in 2009, told BBC Radio Merseyside: "That period of destabilisation is when we fell out of the Champions League.
"Once you're in there, you're achieving those regular revenue streams. It's a mountain to climb when it falls away."
During the reign of Gillett and Hicks - whose relationship was described by the former in 2008 as having been "unworkable for some time" - the debt against Liverpool's holding company, stemming from a Royal Bank of Scotland loan the pair had used to help them purchase the club, continued to grow.
"The debt was never on the club because previous chairman David Moores and I blocked that," Parry said.
"It was in the holding company, but clearly they needed to get money from the club to pay the interest so that was going to be a burden.
"Our clear understanding was that it was short-term debt while they reorganised their own finances.
"It was in the offer document that there would be no debt on the club, or the club would not have to bear the costs, and certainly that changed."
He added: "That (2008-09) is maybe the best ever chance we've had to win the Premier League and that was a time where we should have been kicking on.
"With a few more adjustments to the squad, who knows what might have happened in the next year or two.
"You'd do a million things differently with hindsight, but that's not an option. We all wish passionately that they hadn't owned the club."
PA
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments