Liverpool co-owner Tom Hicks says chief executive Rick Parry's time in charge has been "a disaster".

"Look at what's happened under Rick. It has been a disaster," Hicks, who last week wrote to Parry asking him to resign, said in an interview with Sky Sports News. "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."

Hicks said his buy-out of co-owner George Gillett was "going to happen" and warned that the stalemate over the club's future will continue until Gillett agrees to sell his stake.

Speaking from Dallas, the Texan appealed directly to fans, saying he understood their anger about the amount of debt placed on the club.

"The fans feel like we let them down. [They] don't like the fact that we borrowed too much money on the club. I'm going to fix that."

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