Quote:
Originally Posted by Kennys_spell
How will it be just as bad for Gillett? He's said that he'll sell his 50% to DIC. They'll assume his 50% of the current loan.
Gillett isn't losing Hicks as a potential buyer as he's already said he won't sell to him. As soon as Hicks fails to come up with the money to 'make an offer to purchase' Gillett's 50%, Gillett is free to sell to however he chooses.
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You are just making an assumption that Gillett will be free to sell to whoever he wants if Hicks doesn't match the offer. Like many of us on here.
I know Gillett has said he won't sell to Hicks but if this situation drags on for another 11 months, do you think Gillett will be sitting on a beach sipping champagne? And what if DIC had walked away by then? What if the banks refuse to lend them money? If the banks refuse to lend Hicks, Hicks can no longer keep his 50% shares, never mind buy Gillett out (this is what I meant by Gillett losing a buyer). These are the things Gillett will be worried about the longer this goes on.
At any case, Gillett also said he won't be putting the debt on the club. He also wanted to keep the refinancing news quiet. Going by his past 'promises', there is no guarantee that he won't sell to Hicks.