Do you want Dubai International Capital?

[elvis]

Originally Posted by Stouffer Do they have pie?

Frank , is that you ?

[NIred1]

Originally Posted by macca1979 Just read this in The Observer, don't know if someone has already posted it? Liverpool FC could change hands for the second time in a year as their American owners encounter difficulties in refinancing £350million of debt incurred in taking over and running the club. Beset by the steeply rising costs of a new stadium and manager Rafa Benitez's demands for new players, Tom Hicks and George Gillett Jr have been attempting to transfer the debt, for which they are personally liable, on to the club itself. City sources believe this is an extremely difficult task to complete before the loan's due date at the end of February. Article continues -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- It is possible that the Americans will meet the deadline, but if not an Arab investment group, Dubai International Capital, is understood to be close to lodging an offer to buy out the American pair, probably for about £500m. Takeover discussions are thought to be due before the end of this month. If successful, DIC, led by Liverpool supporter Sameer Al Ansari, would invest heavily in two areas: the new stadium that Liverpool need if they are to compete with Arsenal and Manchester United for matchday revenue, and an improved playing squad. Were they also to acquire a new management team Jose Mourinho, who is known to be interested in managing Liverpool, would be a prime candidate. DIC were extremely close to buying Liverpool last February, only to lose out to Hicks and Gillett when the club's chief executive, Rick Parry, switched his support from the Arab camp to the American. The latter paid £174.1m for a 100 per cent shareholding, also agreeing to take on the club's then debt of £44.8m. The purchase, however, was funded solely with borrowed money, Hicks and Gillett's loan from the Royal Bank of Scotland swelling to £350m as it was used to fund several high-profile summer transfers, development work and architect's plans for a 60,000-seat stadium in Stanley Park, and to roll up the interest on the debt. The RBS loan is due for repayment next month. The Observer understands that attempts to restructure it have so far failed and the Americans have yet to inject new equity into the refinancing. While RBS have asked Hicks and Gillett to each commit £20m of their own cash to the deal, City sources believe that at least one of the pair is not prepared to do so. Hicks and Gillett declined to comment last night. Meanwhile, work on 'New Anfield' has been held up by the impasse over the acquisition loan, with no chance of funding being put in place for the £400m stadium project until the issue is resolved. A meeting in New York last week at which architects HKS and AFL presented competing stadium designs, was described by Parry merely as 'another big step forward to finding the best possible solution. Everyone is reflecting on what they have heard and a clear decision will be taken soon'. The global credit crunch has made it harder for Hicks and Gillett to raise new revenues elsewhere and also affected the value of their other assets. Should they fail in their efforts to repay the £350m acquisition debt on Liverpool when it comes due in just over six weeks, there would be the possibility of the next owner of the club becoming RBS. The bank, however, are extremelyunlikely to allow the situation to develop that way. Nor are Parry and club honorary life-president David Moores, the former principal shareholder. Parry and Moores are horrified that the Hicks-Gillett deal has not thus far brought long-term financial stability to the club. As a consequence, there are increasing tensions between the Americans and other board members as the refinancing deadline approaches. Parry and Moores are understood to be open to a second takeover. Sources in the Middle East have confirmed that DIC remain as keenly interested in buying Liverpool as they were one year ago. DIC last night refused to comment on the matter, but they appear best placed to resolve the financial problems affecting the club's competitiveness in the Premier League. A mooted valuation of £1billion has been ridiculed, but an enterprise value of around half that figure might prove acceptable, allowing the Americans to exit with a profit of £75m each. Very interesting.

Not bad for under about a years work. We obviosuly have been had by a bunch of jokers.

[philyburkhill]

I wonder if Rashid sees himself as a saviour, and if they do come back in, do you think he'll really believe it was in part beacuse of his emails?

[Rashid]

Of course not! But at least it creates debate....

[Stouffer]

Mr. Rashid, do you like pie?

[King Emlyn]

One vote for the present deadbeats, and that was for a laugh. Says it all really. Someone should e-mail this to Dick Parry.....remember the front page Echo headline "Trust Us".... i certainly do...........curly headed shit tie wearing gobshite.

[Red Nick]

Originally Posted by Zippy Oh and another bit from the time that made me doubt H and G's motives was in this bit from the Echo: A source close to Miskelly told the ECHO: “John has put a real offer on the table. He is a staunch fan with a hugely successful background who wants to be taken seriously as someone who can take the club forward. “He has stayed in the background so far, and as fan was happy with the DIC bid. What’s confusing to him now is why anyone would pay £5,000 a share for Liverpool when the next offer is £4,000 a share? “Surely it would make more sense to make a lower bid and invest the rest in the club and the team? Those who’ve seen the books know this is an overvaluation of the club, which is why we’d question the motives and like to be considered as a viable alternative.” On possible alternatives to Gillett, Parry said: “We have not been left high and dry but the focus is on George Gillett. There are other expressions of interest but we hope to conclude a deal going forward with George Gillett.” Hicks and Gillett weren't arsed in the slightest about overpaying as they knew that the fans would be paying it back rather than them! As pretty much confirmed by Hicks himself: "When I was in the leverage buy-out business we bought Weetabix and we leveraged it up to make our return. You could say that anyone who was eating Weetabix was paying for our purchase of Weetabix. It was just business. It is the same for Liverpool" - Tom Hicks Parry and Moores sold us down the river.

Is right

[Scouse Missionary]

I don't know what to think. I was as taken in as a lot of people by GillHick, but having been once bitten I'm twice shy about being taken over by another bunch of DICs.

Whatever happens, Parry MUST be retained under the terms of his contract. Then put in stocks every home game, placed outside the Kop, and the fans given access to a plentiful supply of rotten vegetables, spoiled fruit, bad eggs and, of course, bricks.

[Karl]

Originally Posted by Rashid I don't know whether they export Steel from Dubai but some of the most magnificent buildings in the world are currently being built or have been built there. The Sheikh owns several construction companies.

Some of the biggest, most expensive buildings are being built, most are far from magnificent.

[StevieH]

Hasn't Parry got a clause in his contract that states that he has to be retained for 2 years if there is a takeover?

[bobhorse]

I can’t have this that Parry and Moores sold us down the river shit

Yes maybe they took the Yanks offer cos the promised everything that they wanted plus more cash (who wouldn’t take that in there position)

But I don’t believe for one second that they knew these two would act like this

If you believe the speculation it is Moores's camp who are trying to keep the fans informed about what Laurel & Hardy are up to

So lets not have anymore of this sold us down the river shite they made a wrong call and as i remember there were many people who thought that these two where the better option at the time hindsight is a wonderful thing that everyone has but no one can see

[Jamie-H]

I think we all want to believe it, but I cannot for the life of me understand the Americans announcing plans of a new stadium then backtracking on these designs because of price; then holding a meeting in New York to decide what new plan to go with if they for a second thought they were going to sell up?

[NIred1]

Originally Posted by StevieH Hasn't Parry got a clause in his contract that states that he has to be retained for 2 years if there is a takeover?

I remember hearing about that ages ago. Not the best news ever to be honest.

[cochcaer]

I'm surprised so many are falling over themselves in looking to DIC given that were project oslo their raison detre, they had little interest in LFC and were going to shaft us too.

[ratcatcher]

All this talk about DIC buying the club to get the americans out is just hot air. If DIC were such big LFC fans, why didnt they come back with a higher bid than G&H when they had the opportunity?

The answer is, they were after the club as an investment. Yes, some of DIC may be LFC fans but that wasnt the reason they attempted to buy us.