Liverpool owners lose £42.6m

Liverpool's parent company, owned by Americans Tom Hicks and George Gillett, made a loss of £42.6 million last year mainly due to interest payments to service the debt taken out to buy the club.

The company's accountants said remaining uncertainty over the refinancing of an existing £350 million loan before the July 24 deadline "may cast significant doubt on the group's and parent company's ability to continue as a going concern".

The accounts for the year ending July 2008 showed Liverpool made a £10.2m profit but Kop Football (Holdings) Limited lost money after paying £36.5 million in interest.

Valencia president steps down

Valencia president Vicente Soriano resigned on Thursday night as the dire financial problems facing the club made it more likely that players such as forward David Villa and midfielder David Silva would be sold.

Soriano has been trying to sell the land on which Valencia's stadium the Mestalla is built to help finance a move to a new venue that is under construction.

They defaulted on payments to the squad and to the company building the new stadium during last season, and are reported by Spanish media to have debts of over €450 million ($637.6 million).

Valencia finished sixth in the Primera Liga.

Berlusconi slams Milan flops

Milan owner Silvio Berlusconi has blamed the club's disappointing season on the failure of the coaching staff to follow his tactical advice.

"This season Milan didn't play with the tactics I suggested," the Italian prime minister said.

"They only did so in the last game which allowed us to qualify for the Champions League."

Berlusconi also slammed the team selection of former coach Carlo Ancelotti who was appointed manager of Chelsea on Monday.

"We have champions like Ronaldinho who was only used in the last 20 minutes of games and this led to him losing morale," said Berlusconi.

Zenga leaves Catania for Palermo

Walter Zenga risked the wrath of half of Sicily yesterday by signing a three-year deal to coach Palermo only days after leaving island rivals Catania.

The former Italy goalkeeper, who has expertly kept Catania in Serie A for the past two seasons, had been linked in the media with Lazio.

"He has signed a three-year deal," Palermo president Maurizio Zamparini told reporters.

Zenga has replaced Davide Ballardini, who led the club to eighth spot in Serie A this term and had looked poised to stay before announcing he had fallen out with the outspoken Zamparini.

The club president had previously mentioned former Juve coach Claudio Ranieri and Siena boss Marco Giampaolo as candidates for the job.

'Disastrous' pitch irks Maradona

Argentina coach Diego Maradona has criticised the pitch for tonight's World Cup qualifier at home to Colombia, describing it as disastrous and comparing it to a piece of waste ground.

Maradona was livid after the pitch at the Monumental stadium, the home ground of River Plate, was used for a rock concert last Saturday. Around 40,000 people watched the show by veteran Argentine rock group Los Piojos (The Lice).

"It's disastrous," Maradona told reporters. "I hoped we could look for another stadium but I was told that River is the only one approved by FIFA.

"We've brought over (Lionel) Messi, (Sergio) Aguero, (Javier) Mascherano, (Fernando) Gago and we're asking players who cost millions of euros to play on a piece of waste ground."

Ibrahimovic open to Barca offer

Inter striker Zlatan Ibrahimovic would welcome a move to Barcelona, his agent said yesterday following reports the clubs were discussing a deal.

Inter president Massimo Moratti held a budget meeting with coach Jose Mourinho on Thursday and was later spotted dining with Barca counterpart Joan Laporta at a hotel in the Spanish city.

"I only know that if the two clubs find an agreement we would not have trouble agreeing with Barcelona," agent Mino Raiola told reporters.

There has also been media speculation about a possible swap deal with European champions Barca involving striker Samuel Eto'o.

Rijkaard named Galatasaray coach

Frank Rijkaard will replace Bulent Korkmaz as coach at Galatasaray, the Turkish club said yesterday.

"Galatasaray has appointed Frank Rijkaard as technical director. We wish him success in his new role," said a brief statement.

Former Barcelona coach Rijkaard was set to sign a two-year deal with Galatasaray in a ceremony last night, the website of the Milliyet daily newspaper reported.

It said the deal was reached after Galatasaray chairman Adnan Polat travelled to Spain two days ago and followed the club's failure to reach agreement with Juande Ramos and Bernd Schuster. Johan Neeskens would join Dutchman Rijkaard at the club in a deal worth around €4 million, the report said.