SEP 01] COVENTRY CITY NEWS
Kirkland's Move Helps Balance The Books
Kirkland's departure to Liverpool
was a financial necessity.
Coventry City was under the
burden of a multi-million pound debt even while it was still in
the Premiership. Relegation has sharpened the financial screw -
costing the club at least £15 million in lost TV money and
Speaking to the Daily Express
today, chairman Bryan Richardson revealed more about the club's
"The reality of relegation
from the Premiership is that our income is already between
£15-17 million down. That represents the loss of revenue from
TV money and sponsorship. It's a massive amount and really
"The average wage bill of
the Nationwide First Division is £7-8 million and ours is
£16 million. Clearly we have to do something about
With Liverpool's record-breaking
offer for Kirkland the England U-21 goalie was clearly one of
City's most saleable assets.
The chairman could do little but
accept - the lure of a multi-million pay-off for a player that
came up through the juniors was too much.
It is reported that Kirkland has
signed a six-year deal with Liverpool who have agreed a fee with
City of around £8 million dependent on appearances.
It was thought that Liverpool
made the last minute bid for the Coventry goalie after their
deal to sign Feyenoord’s Polish keeper Jurzey Dudek deal fell
But it later emerged that the
Anfield club have in fact signed both Dudek and Kirkland to
provide them with goalkeeping cover for their double assault on
the Premiership title and the Champions League.
With Sandor Westerveld the first
choice Liverpool keeper at the moment, the two new arrivals on
Merseyside will bring fierce competition for his place.
The reaction amongst City fans to
the sale of another of the clubs few remaining top class players
seems to have been a mixture of shock, dismay and resignation.
The one ray of hope must be that
the planned sale of Magnus Hedman to Everton now seems to have
come unstuck as the Toffees' board are rumoured to have imposed
a transfer freeze to help curb growing debts.