Henry:Liverpool still paying price for financial turmoil

Liverpool owner John W Henry claims the English Premier League club is still paying the price for the financial turmoil that engulfed it during the chaotic regime of Tom Hicks and George Gillett. Henry and his Fenway Sports Group bought Liverpool from fellow Americans Hicks and Gillett nearly two years ago and the club are still no closer to recapturing their glory days of the 1970s and 1980s. The Reds finished eighth in the Premier League last season — their worst final position for 18 years — and principal owner Henry is convinced the financial problems which almost forced the club into administration, have set Liverpool back years. “The best analogy is that you can’t turn an ocean liner around like you can turn a speedboat,” Henry told British media ahead of the new season this weekend. “You could say it was a bigger challenge than (when we bought) the Boston Red Sox. “Looking back at the very first day, I was trying to make a point then about how much of a challenge it was going to be because of the issues we inherited.” From:gulftoday