DION FANNING, sports writer for the Irish Sunday Independent, says Liverpool FC is in its "most perilous position in 50 years".
In an exclusive article for the second edition of Liverpool FC supporters' magazine Well Red, the respected journalist says the Reds' financial situation, brought on the club by owners Tom Hicks and George Gillett, has left Liverpool closer to Newcastle than to Europe's elite.
To read more, you can buy the second edition online here or it is available from newsagents in Merseyside, North Wales and Ireland from May 28. A limited number of copies are available across the UK. You can check where by selecting 'Well Red' and entering your postcode here.
Also in issue two, Tony Barrett from The Times details why Liverpool are now way off the pace off the field compared to Premier League rivals.
The pieces by Tony and Dion are part of a 14-page special examining Liverpool's debts which includes analysis of the latest accounts and what the next step for the Reds should be when considering new owners.
The feature - 'They're Bleeding Us Dry' - also includes some superb fan artwork which underlines the problems.
Also in Well Red issue two, there are exclusive interviews with former Liverpool manager Roy Evans and Anfield stadium announcer George Sephton, a Q&A with Ian Callaghan and features and analysis about Hillsborough, supporting England (or not), leaving Anfield (or not), Glen Johnson (by Paul Tomkins) and more.
Well Red is in newsagents from May 28, priced £2.70 or you can pre-order via the website: www.wellredmag.co.uk Orders received today will be delivered up to four days before Well Red is in the shops for UK addresses. Well Red can be posted worldwide.
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