Liverpool FC Forum

by **The_Rock** » Fri Nov 26, 2004 4:20 pm

I have just cut & paste what David moores has said. And, it is the hardest "cut & paste" job i have ever done. PDF files...what can i say

If you want to read the entire notes on the AGM meeting, you can go to the below URL & download the pdf file. Have found intresting bits on the assets & liabilities. But it will take a long time to "cut & paste" it here.

http://www.liverpoolfc.tv/club/report.htm

Chairman’s Statement

The 2003/04 season represented one of the most challenging periods in the Club’s history. Many difficult decisions had to be taken in the glare of constant publicity.

In truth, the 2003/04 season proved to be one of various disappointments, and on balance – not too many highs. The figures detailed later in this report will highlight the considerable financial cost the Club has incurred in implementing a significant, but necessary, level of change. In last year’s report I referred to the Club’s commitment to a continued and prudent investment in players. This was to enable us to get back on track after failing to meet our overriding strategic goal; ie, season-on-season qualification for the UEFA Champions League. This level of investment was to be met without increasing the net debt of the Club. Whilst the emphasis remains on Champions League qualification, by the same token I am not advocating for a moment that a fourth-place finish in the league represents success – or is the limit of our aspirations. Winning the Premiership title must still remain our ultimate ambition and clearly a club of Liverpool’s stature and pedigree must see this as an absolute imperative.

However, consistent qualification offers the financial platform for us to plan and build for the future so that we can compete at the highest domestic and European levels. Despite unhelpful and sustained pressure on Gérard Houllier’s
position in the new-year, the team finished fourth and qualified for the Champions League. However, the underlying consensus within the Club was that performances and results had not progressed in sufficient measure.

The facts speak for themselves; the team finished 30 points behind Arsenal. Clearly, it was incumbent on the Board to consider fundamental change for the benefit of the Club – and to implement the change with purpose and direction. Although unanimous, the decision to replace Gérard was one of the most difficult the Board has had to face in recent years; he was regarded as a friend by us all and his achievements have earned him the greatest respect within the Club.

Rafael Benitez was appointed as the new Manager in time to allow planning for the 2004/05 season. Rafael has a proven pedigree of success. As coach of Valencia he has won the Spanish League title twice in the past three years; this against two of the world’s highest spending clubs – Barcelona and Real Madrid.

The belief inside the Club was that no other candidate could laim a record of success that would compare to his, and in such a short period of time he has meticulously set about strengthening his squad with quality players. The retention of Steven Gerrard and Michael Owen was regarded as a key imperative to the Club’s future.

I’m delighted to report that despite intensive media peculation linking him with several clubs – and much soul-searching on the player’s behalf – Steven’s services were retained. Sadly, it became clear that Michael had decided not to renew his contract, leaving the Club no option but to deal with the situation as appropriately as possible. Whilst losing a player of Michael’s calibre was disappointing, the deal was completed to enable Rafael to put the resources generated to best use by acquiring Xabier Alonso and Luis Garcia in time for the new season.

Away from the playing side, a huge piece of the jigsaw for our future was put in place when planning permission was granted for the new stadium project in Stanley Park.

Several years of complex negotiations have resulted in an imaginative solution that will help to add a significant impetus to the economic and urban regeneration of the greater Anfield area.

Reflections

So in looking back as Chairman, what do I make of the last 12 months?

Firstly, both I and my colleagues on the Board recognise it has been an eventful and disappointing year. I firmly believe that the decisions we’ve made, whilst difficult, have been carried out in the most thoughtful and timely of manners. In fact it is this, perhaps more than anything else, which I will reflect on with most pride. In all that has occurred over the past year I believe the reputation of Liverpool Football Club as been enhanced. We have executed decisions in our usual calm, understated and professional manner – only choosing to
enter the public domain when an issue has been decided and when all parties have participated in the process. This is the way Liverpool Football Club conducts its affairs and it is how we will continue to do so in the future. It’s an approach that has won us many friends and respect around the world for decades.

I can assure you that the decisions we have made and carried
out have not been taken lightly – especially decisions affecting colleagues who have served us so well. But I believe your Board has acted in a manner that best serves everyone
connected with Liverpool Football Club and its future.

Thanks

Given all that has happened, it would be remiss of me not to pay tribute to those people who have served the Club so loyally, but are the unfortunate casualties of change. In addition to Gérard Houllier, my deepest thanks go to Phil Thompson and Joe Corrigan for all they’ve contributed – they will be remembered most fondly by all at the Club. Warm wishes also go to Sammy Lee and Ian Rush in their new posts at the Football Association and Chester City respectively.

And of course, I’d like to thank Michael Owen for his great service to Liverpool Football Club. Since he burst onto the scene at such a tender age during the 1997 season, he has
been a great ambassador for us. We all wish him the very best of luck in his new career with Real Madrid.

I believe the prospects for the coming season are good. Our participation in the Champions League fills the revenue void of last year. Our stipulated payroll formula of ‘less than 60% of turnover’ will be back on target after incurring the one-off costs of managerial change – plus the Club will benefit from the profit on the sale of Michael Owen and Danny Murphy.

The season 2003/04 is untypical of what we expect from this
Club, both in terms of football and financial performance. I am absolutely confident that by this time next year, I will be reporting on a much healthier and more positive position all-round.

Appreciation
As always, I would like to express my personal appreciation to all those associated with the Club for their efforts and support during this challenging year. Every one of us has had our stamina tested to the limit, but the response has been nothing short of terrific.

Thank you all.

by **Paul C** » Fri Nov 26, 2004 4:34 pm

Hmm, not really told us much we didn't already know

by **Redrider** » Fri Nov 26, 2004 5:27 pm

You have to admire David Moores, humility, honesty and tradition. He is obviously a very sensitive man.
But you just get the feeling that he is too nice to run a top Football Club in todays high finance era, bit like a ''big friendly dolphin in a pool full of sharks''
I do take his point about LFC being well respected around the world. I just hope we can sharpen our edge but not lose our image of solidity and tradition.

by **spud** » Fri Nov 26, 2004 5:32 pm

Redrider wrote:You have to admire David Moores, humility, honesty and tradition. He is obviously a very sensitive man.
But you just get the feeling that he is too nice to run a top Football Club in todays high finance era, bit like a ''big friendly dolphin in a pool full of sharks''
I do take his point about LFC being well respected around the world. I just hope we can sharpen our edge but not lose our image of solidarity and tradition.

Agree.

by **JBG** » Fri Nov 26, 2004 5:37 pm

As Paul said, there's nothing really of note in that. Its Moores' view of things.

That report doesn't tell us anything about investment, Morgan and the amount of money the club can give Benitez in January and in the summer.

by **Leonmc0708** » Sat Nov 27, 2004 10:07 am

John Barnes' Granny wrote:That report doesn't tell us anything about investment, Morgan and the amount of money the club can give Benitez in January and in the summer.

If there is any form of press release about the amount of cash available then the price of potential targets will double overnight.

by **115-1073096938** » Sat Nov 27, 2004 5:12 pm

Well said Leon.

by **Paul C** » Sat Nov 27, 2004 7:59 pm

stu_the_red wrote:I love you Leon.

Liverpool FC Forum

Agm - This is really long. i kid you not.

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