Tom Hicks has branded Rick Parry's time as Liverpool chief executive "a disaster" and has also urged co-owner George Gillett to sell his stake.Hicks has demanded Parry's resignation and vowed that his top priority if Gillett were to sell to him would be to offer Reds manager Rafael Benitez a one-year extension to his current deal.

The Texan also revealed that he plans to rid the club of all debt by heading up a group of financial backers willing to invest in the club.

Hicks, who revealed that Parry had taken part in the meeting with Jurgen Klinsmann that undermined Benitez, blamed him for Liverpool's failure to compete commercially with their Premier League rivals in a Sky Sports News interview.

"Look at what's happened under Rick. It has been a disaster," claimed Hicks.

"We have fallen so far behind the other leading clubs.

"We should have the stadium built by now. We have a few major sponsors when we should have 15.

"We have still got the top brand in the world of football but that's no good if you don't know how to commercialise it.

"Rick needs to resign from Liverpool FC. He has put his heart into it but it is time for a change.

"You have to be able to work with the manager and Rick has proved he can't do that."

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