“If ever a football club’s season could be described as the proverbial ‘game of two halves’ that would be the one experienced by Liverpool fans this year. Following Roy Hodgson’s appointment as manager last July as the replacement for the popular Rafael Benitez, the Reds endured their worst league start in more than 50 years, falling into the relegation zone in October after a dismal home defeat to newly promoted Blackpool.” Swiss Ramble

Liverpool’s 2009/10 results underline the challenges Fenway face
“Under Hicks and Gillett, the Liverpool structure became more complex than in the days of the Moores family. There were two main UK holding companies; Kop Football (Holdings) Limited (‘KFH’) and its subsidiary Kop Football Limited (‘KF’) which in turn owned The Liverpool Football Club and Athletic Grounds Limited (‘LFAG’), the football club itself. KF was the entity that borrowed the vast majority of the money from the banks. At 31st July 2010 LFAG’s debt was limited to an inter-company loan to KF of £104.6m and bank loans and overdrafts totalling £37.7m.” the andersred blog