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In 2005, Liverpool won the Champions League. In 2006, they won the FA Cup. Both were deemed historic matches and results because of the nature in which the Reds won the competitions.
Yet, arguably, the most pivotal moment in the club's illustrious history took place the year after.
Tom Hicks and George Gillett had a joint offer for Liverpool valuing the club at £218.9 million accepted in February 2007. They made bullish statements about the club's future and even promised that work on a new stadium at Stanley Park would begin work almost right away.
Sadly, they never delivered on their stadium plans, and they never allayed the fans' fears that they would heap debt on the club, much like the Glazers did at Manchester United. In 2010, the Royal Bank of Scotland considered Hicks' debt to be toxic and the threat of administration became a very real prospect at Anfield before John W. Henry and New England Sports Ventures (now Fenway Sports Group) swooped in.
It wasn't just the financial side, either: Hicks and Gillett found themselves out of depth in English football, failing to engage the Liverpool fans and doing nothing to modernise the club's structure. Their public falling out with chief executive Rick Parry and popular manager Rafael Benitez didn't go down well with the Anfield faithful, while their falling out with each other made for an embarrassing soap opera.
In Hicks and Gillett's time at Liverpool, the club failed to win a single trophy—even their closest Premier League title challenge in many years was beset with public spats. They left the club with Roy Hodgson in charge and the club in the relegation zone.
A truly dark period for one of England's most storied football clubs.