‘No reason’ to sell Torres or Gerrard, insists defiant Broughton

PREVIEW: Hull v Liverpool, tomorrow 4pm (KC Stadium)

Financial reports released for the first time show the club itself made an operating loss before tax of £16 million (€18.5m) in the year ending July 31 2009, down from a profit £10.2m (€11.8m) profit in the previous 12 months.

Kop Holdings, the company set up by co-owners Tom Hicks and George Gillett to buy Liverpool in 2007, made a loss before tax of £54.9m (€63.8m).

That plunged the finances further into the red with the debt rising from £299.8m (€348.5m) to £351.4m (€408.5m), with interest payments on loans increasing by £3.6m (€4.2m) to £40.1m (€46.6m). With their rivals sensing weakness there have already been reports of Chelsea preparing a £70m (€81m) bid for Torres and Real Madrid considering a £35m (€40.5m) offer for Gerrard.

Broughton said neither instances would be considered as both players remained integral to manager Rafael Benitez’s team.

“There is absolutely no reason to sell either Torres or Gerrard,” said the British Airways chairman, brought in last month by the co-owners to oversee the sale of the club.

“I don’t want to sell either of them. Rafa does not want to sell either of them, the club is not looking to sell them. We don’t need to do it to pay off any debt.

“Torres is one of the great players and every club would love to have him.

“We have got him and there is no intention of selling him.”

Broughton yesterday held his first long-awaited meeting with Benitez, during which the pair discussed the current situation regarding the search for new owners and also plans for the summer squad rebuilding.

There are further get-togethers scheduled but with debt levels increasing at the club it seems unlikely Benitez, whose Liverpool side travel to Hull City for their final Premier League of the season tomorrow, will be handed the sizeable kitty he feels he needs to get the club back into Champions League contention.

“We have met, it was a frank exchange of views, constructive and very helpful,” said Broughton.

“The squad does need strengthening and that is an on-going process which will not be stopped by the sale.

“We have sat down with Rafa to determine what is the strength of it (the squad), what it needs, who are the right players and who needs to be sold.

“What I have asked from Rafa is what any football club board ask at the end of the season.

“It is for an appraisal of each of the players, where the weak links are, which players he would prefer to sell if he had the opportunity, which positions he needs to fill, who are his prime candidates and what would be his priorities.”

Broughton revealed he hoped new owners would be in place at Anfield in a “matter of months”.