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Liverpool chief denies club debts will lead to player exodus

Liverpool striker Luis Suarez

Liverpool managing director has allayed fears that the club’s £87.2million debt would force them to sell their star names, the Daily Mail reports.

The Merseyside club has seen their debts rise by almost £22m during a 10-month period up to the end of May 2012 as their failure to qualify for European football in the 2010/11 season continues to hit home.

However, with their annual losses down from the previous year and American owners Fenway Sports Group providing a £46.8m interest free, inter-company loan to ease the debt, Ayre insists they are making progress.

And he adamantly denied that their financial position would cause them to seek a quick fix by cashing in on the likes of Luis Suarez.

“We won’t be selling anyone because of the financial position,” Ayre said.

“If we are selling anyone, it will be because they are deemed by the manager to be surplus to his requirements and if that happens we will be replacing them and bringing new players in as we always do.

“There’s no panic on our part. We feel that we are making progress and improving all the time. Our aspiration for the next couple of years, as the rules will dictate, is to break even and then to make a profit beyond that.”

With the Reds making strides towards getting back into the black, Ayre also reaffirmed their commitment to abiding by the Financial Fair Play rulings.

“The recent rules that we’ve adopted at the Premier League will expect people to break even and limit their spending and player wages. We will conform just as everyone else does.

“We’ve been a big advocate in pushing for that so we’re certainly not going to fall foul of it.”

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Article title: Liverpool chief denies club debts will lead to player exodus

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