The American Dream, or Scouse Nightmare?

They arrived in 2007 with tales of a gleaming new stadium, increased funds for the purchase of players to take Liverpool to that elusive Premier League title, and assurances that they would not 'do a Glazer'.

Liverpool's American owners Tom Hicks and George Gillett promised Reds fans the world, and now - three years on - we can all see the emptiness in their fatuous pledges.

So, is the latest news that a new group of American businessmen looking to invest in Liverpool a relief, or more agony?

The New York based Rhône Group have 'offered' £110m for a 40% stake in the Merseyside club, deftly highlighting the financial peril that Liverpool are currently in.

As football lovers, we can generally not profess to have the greatest grasp on the intricacies of global economics, with our average vocabulary on the subject consisting mainly of; 'credit crunch' or 'administration'. But the terms of this offer would baffle even the most weathered financial guru.

The main point is that none of this proposed £110m would go into Hicks' or Gillett's pocket, but instead, would serve to reduce Liverpool's £237m debts owed to The Royal Bank of Scotland and American bank Wachovia.

This debt has accumulated only because Hicks and Gillett borrowed money to take over, and burdened Liverpool FC with the responsibility of repaying it. Sounds very Glazer-ish to me.

Rhône's bid, the only firm investment offer Liverpool have received recently, would reduce the American duo to a 30% stake each, with Hicks and Gillett effectively receiving nothing for relinquishing a controlling stake in the club.

This offer has predictably been termed as "not lucrative enough" by Hicks, but these intimations are unlikely to stick if Rhône's offer remains the only tangible bid. This is because they are pinned by a deadline imposed by RBS, who insist that Liverpool's £110m debt to them be reduced by July.

Unless an Arab multi-millionaire swoops to save the day, the likelihood is that Liverpool will have a new group of American NFL fans to contend with in the director's seats, and with the irregularities of this ambiguous deal - how can it fill the fans of England's most decorated club with confidence?

And running the risk of sounding a little xenophobic; it seems that one example of acerbic Scouse humour, immortalised by the traditional Kop flag, is unfortunately ringing true:

Liverpool FC - Built by Shanks - Broke by Yanks.

Here's a quick video showing a passionate group of Liverpool fans protesting against their American owners outside Anfield prior to the Premier League fixture against Hull last September:

Love thy Neighbour, You Don't Know What You Got Til It's Gone.

As a lad born and raised in Wrexham, North Wales, I should be rejoicing and laughing at the financial turmoil over the border at Chester City, that has seen their 125 year history obliterated by a High Court winding-up order. But I can't help but feel compassion for them.

Local football rivalries are what make the game we love so special. What would Liverpool's fixture list be without the annual trip over Stanley Park to Goodison? Local bordering village clashes at amateur level are always heated and the most enjoyable to be a part of.

The reason the local derby is so exciting is because they are played and observed with equal passion, but ultimately played with sincere respect for each other, despite certain chants you may hear on the terraces.

Every club wants to beat the local enemy, to ensure bragging rights until the next meeting. And every fan withholds their undying hatred of the old adversary, but when asked alone, without fear of castration - I believe that every single right-minded fan would hate to see their local derby vanish forever.

It's a little like the Bond villain who thinks he wants to kill 007, but when it comes down to it, he wants to preserve Bond's life, so he can enjoy the pleasure of defeating him for as long as possible.

So, as Chester City fans stand amongst the debris of their broken club, they must realise that they do not stand there alone.

Here at Wrexham, we know the perils of financial instability all too well, after our own 10-point penalty that saw us relegated from League 1 in 2005. We can empathise, if somewhat reluctantly, with our English foes and can wish them a speedy recovery.

And by whatever name they chose to play under once they reform - all Red Dragon's supporters can relish the possibility of seeing the Racecourse scoreboard flash Wrexham 3-0 Chester Tigers Saracens United FC PLC.

You can vote your choice for Chester City's new name here. (Don't be too harsh Wrexham fans) Or choose in my poll in the sidebar.

Should Loyal Fans Suffer for Board Level Incompetence?

So, we have now officially witnessed the first Premier League level point penalty, with Portsmouth's dire financial state surely costing them their top-flight status. But is this fair to the Pompey faithful?

Watching their team lose 4-1 to Liverpool on Monday, the Portsmouth fans could still be seen rallying behind their team, full of passion and tattoos, many shirtless, all blameless. Whilst the men that leveraged unfair deals, and borrowed finances they never intended to return, sit impervious another world away.

Having witnessed Pompey's most colourful fan John Portsmouth Football Club Westwood (pictured above), who legally changed his middle name by Deed Poll, it could be easy to state that a ten point penalty for teams going into administration serves only to punish the dedicated fans that care. The powers that be would only be concerned that Championship level TV rights do not compare with Sky's vast Premiership deal.

But it is now clear that Portsmouth's 2008 FA Cup win was based on buying and paying players with money that they did not have. By any definition, in any sport, that is cheating.

Unfortunately, we are seeing this trend continue throughout the lower levels of football too. It looks as though Notts County will achieve promotion from League 2 this year on the back of absurd salaries and vast debt. Stockport were similarly guilty when they won promotion to League 1 two years ago.

By achieving success in this way, clubs are depriving a smaller, more earnest club the chance. It is a new, intricate form of cheating, but cheating nonetheless. The worrying trend of owners attempting to "live the dream" without the concrete funds to support it, is killing the spirit of more fans than just their own.

What about the Cardiff fan-base who, now facing their own financial turmoil, could have tasted FA Cup glory themselves against an honest Portsmouth side? Or Bury, Chesterfield or Rotherham fans who would be in the race for an automatic promotion spot if not for the conceited overspending of Notts County?

So, although I have huge respect for fans who stick by their clubs despite their board's ineptitude, I have much more sympathy for the innocent clubs being deprived a merited shot at success. To give these grasping owners some perspective, maybe a 10-point deduction doesn't come close to what is merited. Perhaps a yacht burning sanction would suffice?

Watch John Portsmouth Football Club Westwood and other Pompey fans' reactions here (courtesy of ITN Sport):