Spanish striker could be working for a bank next year
According to The Times, Liverpool will be forced to sell Fernando Torres and Ryan Babel if they do not stump up £31.5m owed to creditors.
Usually, Premier League clubs fund purchases through television income, but Liverpool made the unusual step of borrowing the money from banking institutions to pay for their star striker and the tricky Dutchman. The club refinanced the £31.5m debt in January, at the same time as they secured a £350m refinancing package. Liverpool will have to pay £30m a year in interest alone on the huge loan, the terms of which end next July. If they fail to repay the smaller loan by the end of the 18-month agreement, the Reds will have no choice but to sell Torres and Babel.
This financial nightmare couldn’t have come at a worse time – Gillett and Hicks are bickering like little girls over their stakes in the club, while they top brass are attempting to finance the new Stanley Park stadium.
With all the kerfuffle going on in that boardroom, it wouldn’t be out of the question to see Torres and Babel forced out of the door and starring in those Halifax adverts with Howard.