Liverpool’s off-pitch troubles continue to pressurise stubborn Moores

LIVERPOOL manager Rafael Benitez may have gone some way to restoring the club’s fortunes on the pitch but chairman David Moores still faces the same financial problems off it as he did 12 months ago.

An unexpected Champions League victory, an improved performance in the Premiership and an unfortunate defeat in the Club World Championship have all raised Benitez's stock in the last seven months.

As a result Moores is coming under increasing pressure to find the capital to support his impressive manager as well as fund a new stadium.

These are the issues which Moores will be confronted with when he decides to call the club's AGM. And despite the team's success, shareholders will want to know about the club's finances, the rumoured debt of over £50m and what progress has been made in establishing the vast amount of external investment needed to continue with a new ground scheme which has seen costs rise from £80m to around £200m.

Sources close to third largest shareholder Steve Morgan Moores' long-term antagonist claim the former building and hotel tycoon will not be making a major statement at the AGM and that he is no longer interested in making his own personal investment in the club.

The reason is clear. Moores wants a good return for his own shares, Benitez needs £100m to really take Liverpool to a higher level and £200m-plus is required for the new stadium.

A major investor would need to find close on £500m to make a significant impact.

Professor Tom Cannon, a football cash expert from the Kingston Business School, said: "This may be as good a chance as Liverpool have had to attract money following their European success but they want a very particular solution.

"Basically there are not many incredibly rich men around who want to become involved.

"Liverpool have had one incredibly rich man, Steve Morgan, willing to invest and with his sort of money any other club in the country would be giving him the red carpet treatment.

"But he is not getting that because of the criteria of the Moores regime.

"And trying to attract big money to one of the poorest big cities in the UK - this is not central London - is very difficult."

So Moores holds all the cards. Morgan will not get his way and unless chief executive Rick Parry can produce a rabbit out of the hat in time for the AGM talks are still in progress with the America-based Kraft family the Anfield chairman will go to the shareholders talking mainly of the vast improvement on the field and Benitez's growing prominence in English and European football.