Tom Hicks and George Gillett have finally admitted what many of us have known for a while – they are looking for investment. Or more likely, the banks have instructed them to do so.
We have been here before under the American ownership, the club hawked around to those with billions in the bank.
However their decision to seek investment as the global financial markets show further signs of improvement has other implications for them. Tom and George obviously feel that the money is flowing sufficiently to allow an investor to put in a substantial amount of capital. If this is the case, then the same market rules will apply to the owners.
Whilst the pair have continually claimed the new stadium will go ahead once the financial markets improve, the time has now come for them to act on this. The markets are improving and the prices of raw materials and construction is low.
So, Tom and George, when you said, “When we get to the point where the global market settles down and we bring pieces together to finance the stadium then we can again start building. It’s certainly not anything we have changed our mind on. I don’t know about the dates because of the global financial markets, but I know the markets will settle down and get better” (Tom Hicks, 18th September 2009), you might not have expected us to remember or even believe you.
If you want us to believe you, let’s see the work start on a new stadium. Let’s see the beginning of a “large swimming pool” being dug out in Stanley Park (Your words George).
We won’t hold our breath.