Mirror Reports, Johnson to LFC

Liverpool are set to sign England right-back Glen Johnson after confirming this evening they have reached an agreement with both the player and his club Portsmouth.

The Reds have been linked with the defender for a number of weeks while Pompey executive chairman Peter Storrie claimed last week Johnson's former club Chelsea were willing to pay £18million for the 24-year-old.

And a statement from the club tonight said: "Liverpool FC confirmed this evening that they had reached an agreement with Portsmouth Football Club and with Glen Johnson for the transfer of the player to Anfield."

Johnson enjoyed arguably his best season in the Premier League last term as he established himself as England's first-choice right-back and attracted the interest of bigger clubs.
Storrie admitted last week that there was every chance Johnson could leave Fratton Park this summer, especially with the size of the fee being talked about.

Rafael Benitez has not spoken of his interest in Johnson - many Reds fans would prefer him to reinforce his squad in other areas - but Johnson's impending arrival would seem to suggest Alvaro Arbeloa will be sold to Real Madrid sooner rather than later. Johnson's first crack at the big time fizzled out when, after joining Chelsea from West Ham in 2003, he struggled to secure a regular first-team place and was loaned to Portsmouth before making the move permanent in 2007.

Storrie said last week: "Glen has obviously had a fantastic season season for us and has established himself as one of the best right-backs in the league if not the country at the moment.

"I've known Glen for a long time since his West Ham days so when I re-signed him we talked it over and he asked if one of the big four clubs, who were in the Champions League, came in for him would we stand in his way of a move.

"I said that I couldn't do that provided the deal is good for Portsmouth and for Glen."

By Mirror.co.uk

Liverpool FC owners lose £42.6m

The parent company of Liverpool FC, owned by Tom Hicks and George Gillett, lost £42.6m in the year to August 2008.

The loss was mainly due to the £36m of interest payments that Kop Football Holdings had to make to service the debt taken on to buy the club.

Its auditors warned that the need to refinance loans by 24 July cast "significant doubt" on the future of the group as a going concern.

But they added the club's owners were confident they would secure the funds.

The US owners bought Liverpool in February 2007, promising to build a new stadium.

In their accounts, they say they are "committed to building a new stadium and actively seeking funding to complete the project".

But they admit that "the opening of the new stadium will be delayed until 2012".

The parent company's loss came despite the £10.2m pre-tax profit reported by the football club in the same period.

The profit was helped by increased television revenues and the sale of players such as Peter Crouch, John Arne Riise and Scott Carson.

The results for the parent company showed net debt on 31 July 2008 of £300m.