2308 ROYAL BANK OF SCOTLAND AND LIVERPOOL FC 21:10:08
Mr Peter Kilfoyle
Mr George Howarth
Mr Edward O'Hara
Mrs Louise Ellman
Mr Robert N. Wareing
That this House notes the Government's 60 per cent. stake in the Royal Bank of Scotland; further notes that the Royal Bank of Scotland provides a credit facility for the American ownership of Liverpool FC; is aware that the American owners have failed to deliver a new stadium for Liverpool FC, thereby delaying indefinitely the regeneration of one of the most needy areas of the country; and therefore calls upon the Government to ensure that the Royal Bank of Scotland does not review that credit facility at the end of its current term.
For arguments sake if Everton were trying to fund a new stadium or a Goodison Park redevelopment but couldn't fund it and were banking with RBS, I wouldn't expect the Government to come in and cut the availability credit lines to try and force the the board to sell. Would you be satisfied if Gordon Brown practically forced Kenwright to sell so that the development could go ahead?
I really don't see why the Government should be even thinking about intervention here, would they have signed the EDM if was not a football club but another company with funding problems for a scheme (there must be hundreds across the country right now, St. Modwens and Skem maybe? I honestly don't think so and I see this as a way for a few of the local mps to get a few votes in their local area. It wasn't long ago that Peter Kilfoyle said football clubs are private businesses and can do what they want.
Am I being cynical? Would this set a precedent so that any time a company couldn't afford a development the government would make it harder for them to acquire credit to force them to sell?