To show some history of transfers....
Under Moores
2002-2005 Net spend approx £18 million
2003-2004 Net spend approx £16 million
2004-2005 Net spend approx £15 million
2005-2006 Net spend approx £12 million
2006-2007 Net spend approx £17 million
Under Hicks & Gillett
2007-2008 Net spend approx £33 million
2008-2009 Net spend approx £4 million
2009-2010 Net spend approx £3 million
2010-Jan Net spend approx £3 million
Under FSG
Jan -2011 Net spend approx £2 million (Suarez, Carrol, Torres, Babel)
2011-2012 Net Spend approx £35 million
2012-2013 Net spend approx £20 million
Moores had to sell because he openly admitted that LFC could not financially compete spending £15 million a season on transfers, and needed new owners who could provide funds.
Moores had two real options Gillett or DIC. DIC where rumoured to be touting a profit scheme, and Gillett brought Hicks in to the equation and promised a more honest future.
Hicks and Gillett used a leveraged purchase of LFC as they saw the opportunity of the club paying itself off. The problem was not the owners but the global recession. Their plans where destroyed and money was no longer available as interest rates went skywards. It was estimated that £30 million was being spent to cover interest payments and that is why there was no money for transfers.
When NESV took over it was estimated that without the full debt it would be possible that £30 million would be made available for transfer funds. It was suggested that with a decent champions league run £30-£40 million could be available.
Simple maths shows that a decent European run can make £10-£20 million which means that with no Europe a transfer fund of around £20 million is to be expected.
If we go back to management under Moores, it was acknowledged that £15 million a season was not sustainable, obviously the TV money has improved by then but FSG are being sensible with regards to financial fair play and we the fans need to live in reality. We do not want to do a Leeds.
FSG wrote off debts last year to avoid impacting on the future FFP rules. This basically was creative accounting by writing off assets in one go rather than take the hit each year as a type of depreciation.
Anyhow up to date FSG have done their best. The money squandered is why we feel the current gloom. Brendan Rogers is the one that obviously doesn't want any of these players, and we are going to have to suffer some pain to get through this, and have the faith that it will turn out for the better.
Regarding the owners. There was obviously a transfer limit, Rogers spent it on two of his former players and that was his choice. It is obvious that Charlie Adam OUT and Clint Dempsey IN was the plan, but Fulham didn't want to play. The rumours about Henderson and Cole rejecting moves may also have meant a no go to deals.
I have always said that an average of 2 points a game is what a top team needs (76points), while a bottom feeder needs 1 point a game (38points).
This transitional period is very hard to take, and there will be no quick fix. It is depressing that the season has just started and I'm already waiting for January.
