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November 2008 ShareLiverpoolFC issued an eight month countdown to the final deadline for Hicks & Gillett. The £350m debt which the Americans owe to the recently nationalised bank, RBS, has to be re-structured by July 2009 at the latest. ShareLiverpoolFC releases an ‘open letter’ to George Gillett & Tom Hicks inviting them to ‘sit down’ with SLFC to discuss the purchase of Liverpool FC. October 2008 ShareLiverpoolFC release a financial commentary on the current situation at LFC By July 2009, ShareLiverpoolFC estimate that losses at LFC will have eroded the club’s Capital and Reserves to a negligible amount compared with it’s liability to its bankers; i.e. it will be very heavily geared and won’t have sufficient income to cover this total interest cost. Over the next five years ShareLiverpoolFC anticipate losses to range between £30m to £70m a year. These projected losses are largely due to the Club not having a big enough stadium or commercial income to support its current player and debt costs. It is also likely that the Club and its parent company, Kop Football, will be going through a re-financing exercise come the Club’s year end. SLFC Board member, Barrie Baxter, said: “ShareLiverpoolFC already represents thousands of fans prepared to invest real money into the Club. Raising the required funds won’t be the issue once we have a deal in prospect. We’re confident we’ll be able to succeed. We are prepared to consider a partnership with any incoming buyer with the right attitude to the development of LFC going forward. After the experience with the current owners, it will be important for any new owner to ensure that they have the confidence of Liverpool fans.” September 2008 On Saturday 13th September ShareLiverpoolFC board members and supporters joined the Spirt Of Shankly march, that proceeded the Liverpool FC V Manchester United match at Anfield. August 2008 Secretary of State for Culture, Media & Sport, Andy Burnham, endorsed the prospect of fans taking ownership of their clubs at a meeting to launch the next phase of ShareLiverpoolFC’s bid to takeover Liverpool FC. The meeting took place before the second leg of Liverpool’s Champions League qualifier on Wednesday 27 August, at the Liverpool Lighthouse in Anfield with a high profile list of speakers, and was covered by local, national and international press, radio and TV. Mr Burnham said: "I think fan ownership would be good for any football club. I think the principle is a good one, that the people who have built up these clubs over the generations and have invested millions of their money should control their future." The minister spoke passionately about how clubs belonged to their communities, and that the prospect of the Premiership becoming simply a financial league table of the world’s richest billionaires would render football a pointless and ultimately soulless exercise. The minister gave encouragement to the audience, saying that over 140 Supporters Trusts had been set up since Supporters Direct was launched in 2000, and that 14 clubs, including Notts County, the oldest club in the league, were now run by their fans. “If we all believe, then this is achievable” he concluded. Former players players, John Barnes, Phil Thompson and ShareLiverpoolFC board member, John Aldridge, spoke alongside the organisation’s founder member, Rogan Taylor. Paul Rice, who Chairs the Spirit of Shankly (http://www.spiritofshankly.com), and Nicky Allt (founder member of SOS) also spoke in favour of a change of regime at the club, in a show of solidarity amongst Liverpool FC supporters’ groups. Both appealed against apathy amongst supporters, and spoke of the direct benefits of fan empowerment of the club, and the responsibility the club has in the community. This is sadly lacking under the present ownership, but is at the heart of the ShareLiverpoolFC constitution. Paul also underlined the significance of the ‘local culture’ – and the local fans largely responsible for it – for the attraction LFC has for its world wide fan base. July 2008
ShareLiverpoolFC in Denmark - SLFC Board member, Rogan Taylor, joined a team of Liverpool ‘Legends’ in Denmark in July, where the former players played a match against a team of Danish over 35s . The Reds’ ‘Oldboys’ included four players who publicly support the SLFC project: John Aldridge, Phil Thompson, Ronnie Whelan and Jason McAteer. Rogan used the opportunity to give an account of ShareLiverpoolfc’s intentions at a post-match dinner. LFC have had significant support in Denmark and the news about SLFC was greeted with considerable enthusiasm. June 2008
After various teething problems, a new ShareLiverpoolFC website (along with a newly designed logo) is finally launched. The FSA approves the formation of ShareLiverpoolFC as an Industrial and Provident Society and the society is formally registered. We are now allowed to call for investment under the terms of the Constitution of the Society. The eight newly appointed board members (see Who is Involved page), including founder Rogan Taylor, become the first members of the ShareLiverpoolFC society, each holding one share. May 2008
John Barnes, one of the finest players of his generation and LFC legend of the 80’s and 90’s, announces his support for the ShareLiverpoolFC concept. The FSA indicates that, given some specific clarifications and adjustments, that regulatory approval will be forthcoming. At a press conference in the CityWest Hotel in Dublin on 30 May, ShareLiverpoolFC launches in Ireland, spearheaded by John Aldridge and Bernard O’Byrne.Ex-Liverpool FC and Republic of Ireland internationals Ronnie Whelan and Jason McAteer sign up for the cause, expressing their dismay at goings-on at the club. April 2008
The FSA negotiations lead to advice that ShareLiverpoolFC would be best structured as an ”Industrial and Provident Society” (ISP) – a kind of co-operative. Because shares in the ISP would not be tradable (otherwise someone could accumulate them and compromise the one-member, one-vote principle), this would mean a more straightforward legal and regulatory framework. Work begins on the legal documentation the FSA requires for such a registration. The finer details of the democratic structure that would control the management of the club under the ShareLiverpoolFC begin to emerge and take shape. Nicky Allt – a founder of the Spirit of Shankly movement – joins the ShareLiverpoolFC Group. Communications and meetings take place with international supporters groups and key individuals. While working in Japan, Rogan Taylor promotes the ShareLiverpoolFC project to members of the East Asian LFC fan base. It becomes clear that different investment regulations around the world would necessitate a specific approach to selling shares in each country. Bernard J O’Byrne, former CEO of the FA of Ireland, joins the Steering Group as the first international coordinator, and a public launch in the Republic is planned. Members of ShareLiverpoolFC Steering Group meet with other LFC fan groups to underline the shared agenda we have in common - achieving fan ownership - and that ShareLiverpoolFC offers the most sensible and realistic vehicle to achieve this. The stand-off between the owners continues, with the manager only able to discuss transfer targets with one American at a time. Both refuse to sell to each other, and DIC continues to wait in the background. March 2008 A legal entity, ShareLiverpool is set up as a limited company. Specialist lawyers Cobbetts, advisors to Supporters Direct, begin negotiations on behalf of ShareLiverpoolFC with the Financial Services Authority (FSA) on the regulatory hurdles a fan buyout would need to overcome. Work is begun on a communications strategy to reach out to supporters around the world. A more robust website and better e-communications become a necessity. Peter Furmedge – a leading member of the Spirit of Shankly movement – joins the ShareLiverpoolFC Group. At the club, Tom Hicks calls for Rick Parry to resign, but cannot sack him as George Gillett would need to agree. He doesn’t. George Gillett reveals death threats against him and his family on a Canadian radio show. News re-emerges that the Americans are in negotiations to sell to DIC, a vehicle of the Dubai ruler Sheik Mohammed. The speculation reaches fever pitch. Things are so bad that many Liverpool fans back the idea. The Americans can’t agree, and talks break down. 24 February 2008 The ShareLiverpoolFC Steering Group, a group of volunteers - all LFC fans - many with high level experience in football, finance, company law, communications and marketing, meet for the first time in a Liverpool hotel. The group discuss the best way to ensure that the club is governed and run ‘the Liverpool Way,’ and it is decided that the club should be structured under democratic fan ownership - a one member: one vote scheme. They begin scoping out what needs to be done to bring the idea to reality. It’s already clear that it’s an ambitious goal, and would be a highly complex operation. You can’t just sell shares like sweets; there would be considerable financial and legal hurdles to overcome, in UK and abroad. The Group determines that achieving fan ownership would be difficult, but definitely possible, and form into two working teams – Legal/Finance, and Communications. Work begins in earnest. 1 February 2008 When the website is bolstered and restored, tens of thousands of people register their support for the scheme in just a few days. Rogan Taylor is inundated with offers of help and support. Liverpool FC legend John Aldridge is one of them. Rogan Taylor introduces the ShareLiverpoolFC concept to the Spirit of Shankly’s first official meeting at the Olympia, prior to the Liverpool v Barnsley FA Cup game on 16th February. 31 January 2008 ShareLiverpoolFC, a scheme to deliver fan ownership similar to the FC Barcelona membership model is launched. Rogan Taylor, with support from Supporters Direct, fronts a press conference that gains international coverage in the sports and business pages. Phil Thompson is the first ‘Legend’ of Liverpool to express support for the idea. The ShareLiverpoolFC.com website, rapidly designed and built in just a few days, is overwhelmed and crashes. 15 January 2008 – 4.12 am Lifelong koppite, Rogan Taylor, finds himself thinking: Why don’t the fans buy the Club?’ It’s an idea he’s had before…. But somehow the time seems right now. He decides, at least, to ask the question: ‘How many of us might be interested in ‘mass ownership?’. The next day he discusses the idea with his eldest daughter, Charlie, who comes up with a name…’It’s about sharing Liverpool, isn’t it? It’s also about buying a share in Liverpool. It’s got to be ShareLiverpoolFC.’ They start to contact a few friends and professional colleagues. January 2008 It becomes publicly known that Hicks and Gillett’s relationship has broken down, leaving the management of the club in limbo. More dirty washing is aired in public. December 2007 On top of press revelations about Tom Hicks and George Gillett having “refinanced” the club (put it massively into debt), with little or none of their own money involved, stories abound about Rafa Benítez being barred from doing any transfer deals, and Tom Hicks admits they met Jurgen Klinsman to discuss giving him Rafa’s job. It becomes even clearer that the American owners have no clue about running Liverpool FC, and that much of what they promised when they bought David Moores out was just empty words. Promises of being ‘custodians’ of the club who would ‘protect the club’s traditions’ were utterly reneged upon.
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