Tom Hicks will "formally request" Liverpool co-owner George Gillett's approval to terminate Rick Parry's contract after describing the club's chief executive as arrogant and with an "inability to manage an organisation", it was reported today.

Hicks wrote to Parry earlier this week asking him to tender his resignation in yet another tumultuous week at Anfield — overshadowing the team's stunning Champions League defeat of Premier League rivals Arsenal.

Parry, who was instrumental in bringing Hicks and Gillett to the club, has vowed to continue his work at Anfield.

But Hicks insists his position is untenable, claiming his tenure has been a decade of underachievement.

The American told the Sunday Mirror: "I will formally request George's approval to terminate Rick's contract.

"If he chooses not to, the record will be clear."

Hicks said in the Mail on Sunday: "Rick Parry has been Liverpool's CEO for 10 years and we haven't won a league championship under his leadership. Our commercial revenues have not kept up with other top clubs during that time, which has made it very difficult to compete for the Premier League.

"After watching him operate, I came to the conclusion it was time to ask him to resign, due to his inability to manage an organisation, his seemingly arrogant attitude to our supporters and his lack of communication with Rafa (Benitez)."

Hicks added that he had made his mind up to call for Parry's head some time ago and, despite his insistence on remaining at the club, wants a replacement at the helm as early as next month.

"I reached my decision a few weeks ago but waited until after the games against Everton and Arsenal. It is important to try to have a new CEO in place by May so we can begin working with Rafa on player transfers," added Hicks.

Parry has fiercely defended his work on Merseyside, saying: "I stand by my track record in English football and as chief executive of Liverpool Football Club. It would be inappropriate for me to comment in detail on these allegations - that should be a matter for the Liverpool board. In fact, I would welcome an opportunity to discuss these matters with our co-owners and board colleagues. This continuous airing of issues in the media is clearly not helpful at this crucial stage of our season."