Hicks Looking To Keep Control Of The Shites

[Louis]

they havent put "loads of money" into Liverpool at all.

 

The season they took over they borrowed money to buy the club and then borrowed a further £60m for cash flow. Both these loans were secured against the club, and it's the second loan that provided the transfer money the season we signed Torres, Babel, and Mascherano. Every season since then we've made a net profit on transfers. They haven't put a single cent of their own money into the club for players. The only money they are personally liable for is the £140 of equity RBS insisted they provide as part of a previous refinace deal. This money is also borrowed, albeit against personal guarantees. This was then loaned to Kop Holdings through a second holding company, Kop Caymen. The club, whilst they own it, carry the burden of repaying this loan also.

 

You're not going to get any sympathy about signing players on borrowed money from here, all signings from the past three seasons at EFC have been made using money borrowed against future TV money.If Bill Kenwright were able to borrow £60m for signings, he would have done IMO.

[johny]

You're not going to get any sympathy about signing players on borrowed money from here, all signings from the past three seasons at EFC have been made using money borrowed against future TV money.If Bill Kenwright were able to borrow £60m for signings, he would have done IMO.

 

 

haha couldn't give a damn about sympathy. just pointing out to the poster above that it's total bollocks. Funny as well really when it comes from a bloke who's overseen the financial ruin of about 5 different clubs. Always seems to get off just before it goes pear shaped as well.

If I was a spurs fan I'd be sh*tting myself.

 

I understand were you are comeing from though Louis, I've got a poster of Kenwright on my bedroom wall.

[Matt]

http://news.bbc.co.uk/sport2/hi/football/teams/l/liverpool/9077048.stm

[Romey 1878]

http://news.bbc.co.uk/sport2/hi/football/teams/l/liverpool/9077048.stm

 

 

Going for the sympathy vote to try and worm their way out of administration if it's going to come to that .

Edited October 9, 2010 by Romey 1878

[johny]

Going for the sympathy vote to try and worm their way out of administration if it's going to come to that .

I think Broughton's being pretty canny, we're going to court in the main to determine whether the deal on the table is in the best interests of the club.

The reality of this deal falling through is administration, which would be bad both on the field and off it. The crux of his argument would be that Hicks blocking the deal would not be in the best interest of the club, would reduce the clubs value in the short term and in the case of relegation, could decimate it.

In effect Hicks is biting off his nose to spite his face, as unless he's going to pull a rabbit out of a hat and get finance by next friday, he's almost certainly lost that £140m anyway.

[Blue 250]

I actually mildly agree with the Redknapp article. At the end of the day they put shed loads of money into the club and paid out loads on new players. One of the main reasons they are now heading into this mess is because they havent been successful on the pitch. You cant expect to be paying such high wages and transfer fees for players who dont perform and to not run into some financial trouble.

 

Would the Liverpool fans still be as against the Yanks had they won the league and continually qualified and done well in the CL, maybe winning a domestic cup? I very much doubt it...

 

 

 

The yanks did put shed loads of money into the club, sure it was borrowed, but it gave them the chance to buy brilliant players and pay the wages of probably the best player in the prem(gerrard)....one of their crimes was not being able to start a new stadium, something that would have plunged them deeper into debt, they were also hated for their treatment of Rafa, who fluked a couple of trophies with lets be honest a very good team.They (the Yanks) wanted Klinsman, who I think most liverpool fans would now rather have than poor old Roy!......as stated, if they(liverpool) were now riding high in 4th or above and were in the champions league (plus playing attractive football)they would probably be pretty happy with the situation.......As Ian Rush has just said, you can't really blame the owners, it's more down to the players.

liverpool have had a pretty tough fixture list so far this season, and you would expect them with or without new owners to finish top 6, their squad isn't too strong but their best say 14 are certainly top 6.

They will probably worm out of the points deduction, but even -9 points for them they should be able to still avoid relegation by a mile.

As for the derby game, what the hell does it matter who owns the club, any Everton player whose thoughts are Kenwright linked as they cross the white line needs his arse kicking....the same surely applies to the rs....it's a battle, and as usual the generals are sitting well away from the heat and flying studs.This game in particular, WONT be won by the owners....passion, skill and luck will win this one.

[Guest Reg Reagan]

The yanks did put shed loads of money into the club, sure it was borrowed, but it gave them the chance to buy brilliant players and pay the wages of probably the best player in the prem(gerrard)....one of their crimes was not being able to start a new stadium, something that would have plunged them deeper into debt, they were also hated for their treatment of Rafa, who fluked a couple of trophies with lets be honest a very good team.They (the Yanks) wanted Klinsman, who I think most liverpool fans would now rather have than poor old Roy!......as stated, if they(liverpool) were now riding high in 4th or above and were in the champions league (plus playing attractive football)they would probably be pretty happy with the situation.......As Ian Rush has just said, you can't really blame the owners, it's more down to the players.

liverpool have had a pretty tough fixture list so far this season, and you would expect them with or without new owners to finish top 6, their squad isn't too strong but their best say 14 are certainly top 6.

They will probably worm out of the points deduction, but even -9 points for them they should be able to still avoid relegation by a mile.

As for the derby game, what the hell does it matter who owns the club, any Everton player whose thoughts are Kenwright linked as they cross the white line needs his arse kicking....the same surely applies to the rs....it's a battle, and as usual the generals are sitting well away from the heat and flying studs.This game in particular, WONT be won by the owners....passion, skill and luck will win this one.

 

since the owners have came in...

 

the shites have spent nearly 100mil on flops

 

Keane - £20m

Aquilani - £20m

G.Johnson - £18m

Dossena - £8m

Ryan Babel - £10m

Lucas - £10m

Martin Skrtel - £8m

Mascherano - £18m

Ngog - £2m

[Guest Reg Reagan]

does anyone have access to the times website?

 

Just read this off from redcafe that Hicks is attempting to use this finance company called Financial Mill to block the sale so he can continue on owning the shites.

[rocketman]

Taken from The Independent:

“Liverpool Football Club are in talks with a billionaire Sheik from the middle east over a possible takeover deal which will see the clubs debts wiped out at a stroke and save the club from the threat of administration. Talks which have been ongoing for most of the weekend are now believed to be at a very advanced stage and are seen as a better option than New England Sports Ventures (NESV) who are stalling due to the threat of a nine point deduction should Liverpool enter administration.

The proposed deal is expected to include £200m to build a new 60,000-capacity stadium.

 

“This is the latest step on the road of finding the long-term investment that the club needs,” said Broughton. “This is very important to our short term needs and mi term with regards to the proposed new stadium, which is key to plans for the regeneration of the local community.

http://wp.me/pKQMl-jG

Edited October 10, 2010 by rocketman

[MikeO]

Taken from The Independent...

No it's not. Spoof.

[Guest Reg Reagan]

the court case is tomorrow and its actually the RBS vs Hicks

 

can anyone explain why its RBS vs Hicks instead of Broughton vs Hicks?

[MikeO]

Not exactly top priority by the look of it .

 

 

 

Go Mr Justice Floyd !

[Matt]

http://news.bbc.co.uk/sport2/hi/football/teams/l/liverpool/9080946.stm

[MikeO]

the court case is tomorrow and its actually the RBS vs Hicks

 

can anyone explain why its RBS vs Hicks instead of Broughton vs Hicks?

A High Court hearing scheduled for tomorrow that could shape the future ownership of Liverpool pits RBS bank against Tom Hicks “and others”, and is NOT Liverpool’s legal action Hicks and George Gillett, which could yet happen separately, sportingintelligence has learned.

 

The case of ‘Royal Bank of Scotland v Hicks & others’ has been listed among a group of cases to be heard tomorrow by Mr Justice Floyd, sometime after 10.30am. In this case, RBS as the bank that loaned Hicks and Gillett money (via their Liverpool holding company), will be seeking judgement that undertakings given by Hicks and Gillett to RBS under the terms of their loan extension earlier this year are legally binding.

 

There were multiple undertakings and sportingintelligence is not party to all the details, but this website has been told that the key decision for the judge is: Were Hicks and Gillett in breach of undertakings given to RBS by trying remove Christian Purslow and Ian Ayre from Liverpool’s board last week?

RBS will argue Hicks and Gillett were in breach. If the judge agrees, then effectively Hicks and Gillett can do nothing more (pending appeal) to prevent the sale of Liverpool, as agreed by Liverpool’s board last week, to New England Sports Ventures.

 

Liverpool, ie: Liverpool FC and / or its “independent” board members Broughton, Purslow and Ayre, will still, separately, pursue a “declaratory” judgement against Hicks and Gillett, effectively seeking the same end goal as RBS, namely the legal right to sell to NESV.

 

But the significance of RBS and Liverpool / Broughton seeking separate judgements shouldn’t be underestimated: it means, and emphasises, that Liverpool / Broughton on the one hand, and RBS, independently, on the other hand, are now working to force through the NESV deal – and force Hicks and Gillett out.

 

Sportingintelligence further understands – as reflected to some extent in this article yesterday – that RBS has little appetite for putting in train any course of events that would plunge Liverpool into administration.

 

While there is a 15 October deadline for repayment of loans owed by Hicks & Gillett to the bank, it is entirely within RBS’s powers to be flexible with that deadline. RBS ultimately wants the outcome that is in the best interests for the stability of Liverpool, because ultimately the stability of Liverpool enhances the chances of RBS getting back all the money it leant. For now, administration remains more of a theoretical possibility than a probability.

 

As ever in this saga, the situation remains fluid.

 

Source: http://www.sportingintelligence.com/...ricans-111001/

[Romey 1878]

What an absolute mess!

[MikeO]

What an absolute mess!

Plot thickens...

 

http://www.bbc.co.uk/news/business-11518079

[MikeO]

http://www.sportingintelligence.com/2010/10/11/the-lowdown-on-peter-lim-liverpool%E2%80%99s-back-up-suitor-worth-1bn-111006/

 

"Lim’s interest in English football is reportedly based on the fact he owns several Manchester United themed bars across Asia; 14 of them, to be precise, according to a spokesman, although they are not official United bars."

 

This is (whatever your allegiance) becoming so humiliating isn't it?

 

Great institution being flogged off the back of a van at a car boot.

[rubecula]

I find the entire thing sordid and tragic to be honest.

 

Yes I am an Everton fan and I want us to nail them, but this is not football and it sickens me.

 

Although I was interested to watch SSn today as they went into the high court and The MP for Walton was saying how bad this is for the srea because they can not redevelope Anfield while this goes on. WHAT ABOUT GOODISON YOU MUPPET!

[MikeO]

The ManU fan has raised his bid...

 

http://www.bbc.co.uk/news/business-11523503

 

....but if they've officially accepted the Sox bid they won't go back on it surely ?

[Matt]

I find the entire thing sordid and tragic to be honest.

 

Yes I am an Everton fan and I want us to nail them, but this is not football and it sickens me.

 

Although I was interested to watch SSn today as they went into the high court and The MP for Walton was saying how bad this is for the srea because they can not redevelope Anfield while this goes on. WHAT ABOUT GOODISON YOU MUPPET!

 

There was me thinking im the only 1. As much as they drive me nuts, its sad to see any team going through this embarrassment.

 

Also - it shows how grateful we should be for BK. This is what happens when people want a quick buck with ideas above their stations and accepting things too quickly. People thinking BK should sell up asap to anyone with a large wallet should take note.

[Guest Reg Reagan]

I find the entire thing sordid and tragic to be honest.

 

Yes I am an Everton fan and I want us to nail them, but this is not football and it sickens me.

 

 

I say fuck them... they got what they wished for and they deserve to be where they are.

 

I hope Hicks wins the court case against the RBS

[rubecula]

Fair comment reg. I was just voicing my own opinion on it all. After all it was not the fans who wanted Hicks and Gillette in there in the first place.

[MikeO]

After all it was not the fans who wanted Hicks and Gillette in there in the first place.

Were they not happy about it then?

 

I don't remember....must have a scour through some of their forums from when H&G took over to see what the reaction was.

 

There was a lot of optimism within the club at the time (the Lawrenson interview is interesting)...

 

http://news.bbc.co.uk/sport1/hi/football/teams/l/liverpool/6323037.stm

[MikeO]

KopBlog by BringbackKenny on ThisisAnfield 07/02/07

 

KopBlog: The Futures Bright, The Futures RED!

 

We’ll probably never find out the full story behind the collapse of the DIC takeover bid last week, but whatever the reason, I have a really good feeling that things have worked out for the best.

 

There was a lot of angry voices (including my own) directed towards David Moores and the board after last weeks debacle, but I think on this occasion we must compliment them in moving so swiftly to accept the offer of George Gillett and Tom Hicks. The considerable wealth of these two American tycoons may be dwarfed in comparison to DIC, but that didn’t stop them from not only out-bidding but also out-smarting the Saudi’s. This along with the pace in which they moved to secure the takeover has been very impressive and I feel that having such quick and decisive guys in the boardroom is just what we need to take the club forward.

 

I must admit that little more then a week ago, I didn’t care much for George Gillett and I’d never even heard of Tom Hicks. All I’d heard about Gillett was that he was some American guy who apparently had a crazy idea of sharing a stadium with that small club on the other side of Stanley Park. I didn’t take him too seriously because I figured DIC were about to take over the club anyway, so I didn’t bother looking any further. However, since the DIC deal fell through I read whatever I could find about both Gillett and Hicks, and the more I read the more impressed I became.

 

Gillett is a very interesting character, who has a very strong background in sports. In his early career he was involved with the Miami Dolphins and was the owner of the Harlem Globetrotters. He went on to build himself a bit of an empire but it all fell apart when one of his business deal’s in the early 90’s, turned sour and he ended up bankrupt. Although he lost the cash, he didn’t lose the lesson and rebuilt his empire virtually from scratch.

 

Six years ago he took over the Montreal Canadians ice hockey team and although the Canadian fans didn’t initially welcome having an American owner (sound familiar?), he soon won them over. I checked out their website over the last few days and there seems to be no issues with their fans, other then the fact that they are slightly worried he might become more interested in Liverpool then he is in their team.

 

Other then sports, I gather he is also particularly strong in the area’s of marketing and media. When he made an unsuccessful bid to take over the club last November, Rick Parry said he wished the club well and then asked him in what areas did his bid fall down. Armed with this information he returned home and sought out his old friend Tom Hicks.

 

Hicks is a Texas billionaire. He is the owner of the Dallas Stars ice hockey team and the Texas Rangers, a major league baseball team as well as a multitude of other businesses. Both sides have enjoyed great success since he took them over and he has been instrumental in acquiring many big name players. And it looks like he might continue this trend with Liverpool, as he said in an interview yesterday, "If you have a chance to get a great player, you get a great player. "We're not going to put a budget on what we're going to do."

 

He is also heavily involved in real estate and according to the BBC, 'Hicks has built up a reputation for developing state-of-the-art new stadia for his teams and his participation was a key factor in Liverpool deciding to go with the US bid.'

 

So all in all these two seem to be a perfect fit and have the necessary funds and experience in the right areas to really make this club a force to be reckoned with both on and off the field. This deal has brought us everything we could have hoped for. £45 million will be used to pay off the clubs current debts, we now have the funds for the new stadium and work can finally get underway, Rafa will have funds to compete at the top level of the transfer market and Gillett has been quick to rule out any possibility of a stadium share with little Everton.

 

This takeover has received a cautious welcome by Liverpool fans and there are a few who don’t seem to welcome it at all, but I have to say, I’m delighted. As far as I’m concerned, we’re a damn sight better off now, then we have been for many years. I admit that no matter who took over, I’d be saying that we’ve got to support them and give them a chance. However, I really like these guys.

 

They are winners and I’m excited about the future of the club in their hands. Time will tell of course, but all the pieces now appear to be falling into place and with Rafa having a level playing field in the transfer market, I think our chances of finally getting our hands on another league title have moved an awful lot closer. So I welcome Mr Gillett and Mr Hicks and I truly believe that with the club in their hands, the future will be bright, the future will be RED!

 

Have a nice day!

[MikeO]

A guy called LFC.Eddie was a bit more perceptive...

 

Not exactly excited. As a well known pessimist in this website, I'd say, let's see first before jumping with joy about this. For all we know 5yrs down, we'd be liquidated and take over by some bank or financial firms. America is built on debt, so that's what I worried about.

[Guest Reg Reagan]

This is an outrage!!!

 

Hicks and Gillett were not given a fair go by anyone!

 

They are the owners, they have the right to say who they can the club to for whatever price

 

And besides they were doing a great job at the club!

 

This is a very dark day in football

[Matt]

He added that it would be "inappropriate in the circumstances" for him to grant Hicks and Gillett the right to appeal and they would have to apply to the Court of Appeal for permission.

 

http://news.bbc.co.u...ool/9080946.stm

 

so there are grounds for appeal?! im very confused by this article. Another thing:

 

NESV has a binding agreement in place with the Board of Liverpool FC and we are looking forward to concluding the deal.

 

does this mean they can consider other offers?

 

 

The RBS loan facility ends on Friday and the bank had applied to the court for the injunction to allow the sale to go ahead and recoup its money.

Does an agreement have to be in place before the 15th to prevent administration? Or are they off the hook again?

Edited October 13, 2010 by Matt

[MikeO]

Does an agreement have to be in place before the 15th to prevent administration? Or are they off the hook again?

They'll only go into admin if RBS force it, and it's not in their interests to now that a deal (whoever it's with) is imminent.

 

Could be a few twists and turns yet, but the threat of administration is pretty much gone I think.

 

("[braughton]...declined to confirm that NESV, owners of the Boston Red Sox, would be the new owners. The board has to be reconstituted and I can't prejudge what the board is going to say. It would be inappropriate to prejudge what the board may say."

 

However...

"NESV said in a statement that it had a "binding agreement in place with the Board of Liverpool FC".

 

Tears before bedtime?)

 

Presumably as it stands Hicks will still have a seat for the board meeting that's happening tonight, though he'll have no power.

 

What I don't understand is that supposedly Hicks and whoever now has Gillett's share stand to lose $140m, but at the same time everyone says they never put any of their own money into Liverpool at any stage. How can they lose if they never put anything in ?

[johny]

 

 

What I don't understand is that supposedly Hicks and whoever now has Gillett's share stand to lose $140m, but at the same time everyone says they never put any of their own money into Liverpool at any stage. How can they lose if they never put anything in ?

 

the money they put in is more borrowed money, however it is secured against a holding company called Kop Caymen rather then the club. As part of the re-finance deal in april RBS insisted this money be turned into equity (absorbed into the value of the shares owned by Hicks and Gillet) rather than be held as a debt againsed the club.

 

Hicks and Gillet are now technically in default of the RBS loan, and have been since March, so every penny that new owners spend on the shares will go directly to RBS. Hicks and Gillet (who by the way turned down a £450m bid last year hoping for more money) walk away with nothing except a usless holding company in £140m of debt and with no assets.

 

And Reg, Hicks and Gillet appointed Broughton as chairman and gave him the power to sell the club from under them at the insistance of RBS, they were given no choice. The last re-finance deal was simply put into place to allow time for the club to be sold.

Edited October 13, 2010 by johny

[xavier]

This is an outrage!!!

 

Hicks and Gillett were not given a fair go by anyone!

 

They are the owners, they have the right to say who they can the club to for whatever price

 

And besides they were doing a great job at the club!

 

This is a very dark day in football