Originally Posted by coop
At the moment Hicks is desperate to get full control of the club and is whoring the club around to anyone in his quest to get a backer so he can achieve his goal.
The problem with this is people who would be likely backers have seen how much trouble Hicks has been in getting the cash together in the recent re-finance and they will have to go through it all over again in about 16 months.
DIC know there dont need to rush. If they are confident Hicks wont be able to get the cash to buy out Gillett they know they can wait until Hicks trys to get a loan for the stadium and then sets about re-financing which he wont be able to do.
I have read somewhere that part of an agreement where if either partner wishes to sell their stake in a business and have granted the other partner first choice then that partner has 90 days to match the bid made by a third party.
This to me makes sense in that Hicks knows he is under pressure to get another backer hence him getting in the media as much as possible makeing it out he is not going anywhere and more or less putting an advert in the papers for Gilletts shares.
The silence from Gillett and DIC is purely if they have entered a period of a bid and due diligence then they are expected to quiet until a bid is made and either accepted or refused.
Tony Barrett has already said that DIC are wanting to buy the club and i believe what Tony says much more then i believe that fat fuck from Texas, Tom Hicks.
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I was pondering just that point.
Surely Hicks has to have a time limit in which to match another bid, which could explain why everything has gone quiet on the Gillette/DIC front.
When did the re-financing go through? I think it would be fair to say that Gillette could/would not have accepted a bid until after refinancing was completed.