According to the AP, though, it was a bit different:
Henry plans to be thrifty with Liverpool
Last Updated: Monday, October 18, 2010 | 9:38 AM ET Comments4Recommend7
The Associated Press
New owner John Henry watches Liverpool FC on Sunday. New owner John Henry watches Liverpool FC on Sunday. (Michael Regan/Getty Images)
American tycoon John Henry has cautioned that his Boston Red Sox ownership group will not throw cash at reviving the fortunes of fallen English giant Liverpool.
The urgency of the rebuilding task facing Henry was underlined Sunday, two days after New England Sports Ventures completed its 300-million pound ($487 million US) takeover of Liverpool, when the team lost 2-0 at neighbour Everton. The result kept the Reds marooned in the Premier League's relegation zone on just six points from eight games.
But Henry has warned that NESV will be frugal owners, quipping: "I don't have 'Sheikh' in front of my name."
"When we spend a dollar, it has to be wisely," he said. "We cannot afford player contracts that do not make long-term sense. We have to be smart, bold, aggressive."
So if manager Roy Hodgson wants funds to strengthen a squad that is currently heading toward the second tier, the commercial department will have to get busy.
"When we looked at Liverpool, the first thing that struck was there are opportunities here to really build a winner," Henry said. "The revenue potentials around the world — it is a global football club — and
especially with the financial fair play rules, it is really going to be revenue that drives how good your club can be in the future. That is one thing that we think we are good at."
Red Sox fans across the Atlantic can testify to that.
"When we arrived at the Red Sox [in 2002], the New York Yankees were a juggernaut and it wasn't that much of rivalry," Henry said. "We turned it into a rivalry where we have gone toe-to-toe with the Yankees even though they have got a much higher revenue.
"They keep going up but we have gone up faster. We have got to the point where if you look at our wins and losses against the Yankees over the last nine years, we are almost dead even … If you think Boston is somehow on a par economically with New York, that's simply not true."
Financial fair play rules from European soccer's governing body are designed to end an era of so-called "financial doping" by teams with wealthy owners, like Premier League rivals Manchester City and Chelsea.
The UEFA regulations limit the ability of owners to subsidize losses incurred by paying high transfer fees and salaries — Manchester City lost 121 million pounds ($196 million) last season — and make them only spend what they earn from soccer-related income if they want to play in European competitions.
Owners will be allowed to cover losses of up to a maximum of 45 million euros ($63.8 million) over an initial three-year spell, starting in 2012. In the three years from 2015, just 30 million euros ($42.6 million) in losses can be covered.
"There is no constraint on us going after revenues, you have to be smart about it," Henry said.
Would buying into football have been less appealing without UEFA president Michel Platini's rules?
"Yes, it would be less, but it exists," Henry said.
Despite warming to the theme of thrift, Henry insisted that he hadn't taken the 18-time English champions from previous owners Tom Hicks and George Gillett Jr. at a bargain price.
The heavily indebted duo, ousted in a bitter court battle last week, plan to pursue legal action after claiming that NESV conspired with club directors to undervalue Liverpool to force a sale.
"There were big financial issues [at Liverpool]," Henry said. "I know some people are saying this was a cheap price. There is no way we look at this as a cheap price."
NESV, which has cleared most of Liverpool's debts, is backed by 17 investors, but they shouldn't be expecting an instant return on their Anfield outlay.
"Our partners are extraordinary, some are extremely wealthy," said NESV chairman Tom Werner. "They are not in this to make money. That's not why they got involved in this. I'm trying to think of one partner who joined for financial reason."
So why buy Liverpool?
"I don't think any thinking individual buys a sports franchise these days — or an English football club — to make money," Henry said. "Maybe a few, but they should have their head examined. It's about competing at the highest level in the world's largest sport for us that's why we are here."
The idea of acquiring Liverpool was first planted in Henry's mind two years ago by Mike Dee, chief executive of the Miami Dolphins who had received a sale prospectus prepared by banks.
"I thought 'Oh, oh, we have enough headaches,"' Henry recalled. "This seemed like a lot of work and I just didn't think about it again."
It was back in January at a baseball owners' meeting in Phoenix that Henry's wife, Linda Pizzuti, started him thinking about a Liverpool bid.
"My wife was more serious than I was," he said. "She is not really a sports fan. She is a business fan. I don't know why she was so keen. I'll have to ask her."
Henry plans to be thrifty with Liverpool
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So they're all bold and brash and amazing, yet keep emphasizing their own frugality.
Happy days are here again!
