LIVERPOOL flirted with financial meltdown last season, it has been revealed.

A 10-point league deduction, ending any hope of a title challenge. The sale of major assets such as Fernando Torres, Steven Gerrard and Javier Mascherano.

A document actually nicknamed The Doomsday Book was prepared as Tom Hicks and George Gillett flirted with catastrophe last season.

It spelled out the consequences if the owners' failed to secure their £290million refinance deal, says the News of the World.

Unless the Americans sort out their differences and find investment before their next deadline, the threats will resurface.

That explains why the club has been working overtime to present a healthier financial picture over the last few months, citing the £80m shirt sponsorship deal with Standard Chartered as a major step forward.

It also explains the increased urgency to find investors.

Meanwhile, Manchester City was close to landing Liverpool ace, Fernando Torres last season, it has been revealed.

The News of the World says it was only because the Royal Bank of Scotland feared a massive backlash that Liverpool was able to reject a £70m bid from Manchester City for Torres.

The RBS feared a public backlash if it allowed one of the world's biggest clubs to go into administration.

(10-20-2009 02:28 AM)peroxide Wrote:  LIVERPOOL flirted with financial meltdown last season, it has been revealed.

A 10-point league deduction, ending any hope of a title challenge. The sale of major assets such as Fernando Torres, Steven Gerrard and Javier Mascherano.

A document actually nicknamed The Doomsday Book was prepared as Tom Hicks and George Gillett flirted with catastrophe last season.

It spelled out the consequences if the owners' failed to secure their £290million refinance deal, says the News of the World.

Unless the Americans sort out their differences and find investment before their next deadline, the threats will resurface.

That explains why the club has been working overtime to present a healthier financial picture over the last few months, citing the £80m shirt sponsorship deal with Standard Chartered as a major step forward.

It also explains the increased urgency to find investors.

Meanwhile, Manchester City was close to landing Liverpool ace, Fernando Torres last season, it has been revealed.

The News of the World says it was only because the Royal Bank of Scotland feared a massive backlash that Liverpool was able to reject a £70m bid from Manchester City for Torres.

The RBS feared a public backlash if it allowed one of the world's biggest clubs to go into administration.

Liverpool are my team, and I have been unimpressed with their form this season to say the least, being beat in the Europa cup and looking at not finishing even 4th are a real disappointment considering we were fighting for the title last season.