Liverpool Managing Director Christian Purslow Confirms Club's Potential Buyers Are Undergoing 'Due Diligence'

Reds are not going bust and a buyer will be found soon...
Liverpool managing director Christian Purslow has revealed that there are several interested parties currently carefully considering whether or not to purchase the Anfield outfit.

Although a sale does not appear likely for some time yet, Purslow inists that he and the rest of the Reds hierarchy are doing their best to ensure that the club is sold to the right people.

"The process remains underway and there are a small number of potentially interested parties working seriously and privately - doing what is called due diligence - looking at the business in detail from a financial and legal standpoint," Purslow revealed, answering questions posed by fans on the Reds' official website.

"My hope is that one of those parties steps forward with a proposal to buy the club which is attractive to the board and which would be good for the club.

"I must say that the single most important aspect of the possible sale of the club - and I consider it the most important thing I will ever do in my business career - is to make sure that if we're going to sell the club we get the sale right.

"The only thing worse than no sale is the wrong sale.

"If I bring anything it is the ability to understand in great detail the questions that need to be asked of potential buyers, to find out what they're really about and where the money really is coming from, what their intentions for the business are strategically, operationally and, yes, financially, and so I urge all our fans and all our stakeholders to take one message from me and that is I will not make the mistake of sanctioning any transaction that puts the club in a worse position.

"Do I know whether any of those parties are going to get over the finishing line? No. Can I make someone write a cheque? No.

"My job is to present the club to possible investors in the best possible light because I passionately believe it's a fantastic opportunity for investment and new ownership.

"It's as good as you can find in the world of sport anywhere and my job is to present that in the best possible light, but I can't make people write a cheque, nobody can. All I can do is make sure when they are willing to do so that I can say hand on heart that these are the right new owners for the club.

"I assure you I consider that to be an awesome burden of responsibility but I am very well qualified to do that properly."

Purslow also played down recent media reports that Tom Hicks was planning a complete takeover of the club and did not want to sell.

"I can't speak for the owners but I am absolutely sure that both of them are totally committed to trying to sell the club as soon as possible," he insisited.

"They haven't had an offer yet that they like and so I suspect that both of them individually and collectively are pursuing their other alternatives and that's their prerogative."

Purslow was also at pains to stress that the club's board did not consider 'asset stripping' by selling Steven Gerrard and Fernando Torres in the summer as a means of paying off some of the club's debt.

He also insisted that any money raised from player sales is being reinvested in the squad at the moment.

"This is the question I am most asked and the question I am most happy to answer. I say again, every single penny we generate from selling footballers goes back into buying footballers," he stressed.

"I wouldn't have it any other way and I wouldn't have taken the job to oversee selling footballers to pay banks or owners money. We never have in my time here and we never will as long as I am here. Please, I ask our fans to have no doubt whatsoever.

"It [selling Gerrard and Torres]'s certainly not something we would have ever wanted to do.

"Anybody who knows me, who knows Roy Hodgson or who knows the club will know that nothing could be further from the truth. Any conversations that were had were stressing the absolute vital importance of those players - and others - to our future and to our plans and why they remain so central to what we're doing.

"Let's be honest, if you'd believed half of what you read in May about who would be leaving and who wouldn't, then most of that didn't come to fruition.

"I'm absolutely thrilled and delighted that it didn't and that those fantastic players still grace our team today."

The Reds did try and find some quality back-up for Torres in the striking department, Purslow revealed, over the summer. They could also yet be in the market for another forward in January, it seems.

"Firstly, it's not that we didn't try. We had an extraordinarily active summer both on player ins and player outs," he noted.

"Our job, my job, the club's job, is to support the manager in retaining the players he wants to retain, buying the players he wants to buy and seeking to sell those players he wants to sell," he explained.

"We achieved 95 per cent of those objectives which, given that it was a very short period of time from when Roy arrived to when the window closed and there was a huge amount of activity, we were very pleased with all that happened in that period.

"Yes, a striker was high on Roy's list of options and, yes, we looked at a number of them, but none of those he really wanted could be acquired.

"It was Roy's decision, not the club's, to wait, keep our powder dry, look at the market and research players more and be ready to strike in the next window or the window after that.

"That's his decision and he has been very clear on his views on the record.

"If Ryan Babel and David Ngog, who he mentioned now have a long period of time to show him what they can do, impress and convince him they are better than what's available in the market, then maybe [we won't look for another striker]."

The managing director was also at pains to reassure supporters that the club was in a healthy position commercially and there was no risk of it going into administration, despite the huge debts with which it is currently saddled.

"We have been here for a very long time and the club will be here for a very long time in the future. Our raison d'etre hasn't changed," he stated.

"We exist as a football club to win trophies. At any given time nobody can guarantee that we will but it's not for the lack of trying and whilst I think the environment has changed somewhat and obviously we have some significant challenges ahead of us, that's what we exist to do.

"The whole club exists to support our manager and our players, whether it's the business side performing well and ploughing those benefits into football or the football side signing players who want to play for Liverpool and want to win trophies for Liverpool. That's what we're about and that's never going to change.

"Liverpool Football Club is a very healthy business. We have cash, we are solvent, we have banking facilities which last beyond the end of next season and we are heavily scrutinised by the Premier League.

"To achieve our Uefa license we went through that process and they were very happy with what they saw - so I cannot conceive of a situation where Liverpool Football Club could go into administration.

"Liverpool Football Club is not going bust. We have an extremely healthy business with record revenues and we are highly profitable.

"The issue today is that too much of that profit is being used to service loans put into place when the club was bought. We are dealing with that issue. When we sell the business that debt will be reduced or go away which will make us the most profitable club in the Premier League.

"Liverpool is not going bust."

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