LIVERPOOL owners Tom Hicks and George Gillett were last night branded 'utter failures' by fuming fans.
The Reds are in financial turmoil after figures showed their parent company lost £42.6million last year.
All operating profits were swallowed up by servicing the £350m loan the Americans took out to buy the club.
And it looks certain to hit boss Rafa Benitez's transfer budget.
Hicks and Gillett have seven weeks to sort out a re-financing package but supporters want banks to snub them.
Paul Rice, chairman of the leading fans group Spirit of Shankly, said: "The revelations just underline Hicks and Gillett's utter failure as owners.
"Fans should be very concerned with these figures as the Americans have saddled us with debt which could force the club into administration.
"They should seek more responsible and appropriate custodians for Liverpool FC."
Rogan Taylor of Share Liverpool FC - a group looking to buy out the club - called the situation 'ludicrous'.
He added: "The levels of financial incompetence is unbelievable. The situation will not go away with re-financing."
Sources close to Hicks and Gillett last night pointed out the debts of Kop Holdings were less than their rivals in the Big Four and insisted the club will not go bust.
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We actually profited quite a lot last season from ticket sales,UCL,sponsorship deals,etc but these all have been swallowed by the loans taken by the Yanks when they bought LFC.Maybe its time for the Yanks to swallow bitter pills and pride - ask how the Glazers run their business...
I..as an aredent fan of the club feel ashamed at what these Americans are doing to my beloved football club and no words could picture how angry I am at them.We were actually in good hands but the arrival of these stupid clowns ruined everything.
Any way out ? Will the Arabs save us now?
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