Henry could double money in Liverpool – experts 11/11/2010 |
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New England Sports Ventures’ (NESV) £300m purchase of Liverpool was a “steal”, according to football finance experts.
NESV principal owner John W. Henry and chairman Tom Werner could double their investment in five years, it has been claimed.
Henry, who also owns Major League Baseball’s Boston Red Sox, is not buying a broken business, said bankers who requested anonymity, reports Bloomberg.
Former owners Tom Hicks and George Gillett raised revenue and operating profit at the club before being hit by the credit crisis, which put added pressure on their debt.
“This is a steal,” said Marc Ganis, a Chicago-based consultant who was a principle in a Chinese group negotiating to buy the club. “There is a reason John Henry was so eager to close this deal – he got himself the bargain of the century.”
Two unnamed bankers added that, under ordinary circumstances, the team would have been worth an additional £100m to £150m. In five years, it could be worth twice as much, they said – and Ganis agreed.
Forbes Magazine estimated Liverpool’s value at £533m in its April 21 edition.
Hicks called that sale to Henry’s group an “epic swindle” and tried to stop the deal in court.
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