even if G&H get their financing it is unsustainable in any case, DIC would be well advised to bide their time and let them run us into the ground, sad but that's what it will take
Liverpool manager is furious over talks with Klinsmann
By David Bond
LIVERPOOL manager Rafael Benitez is understood to be considering whether to launch a legal action against the club’s co-owner Tom Hicks after he made the startling admission that he tried to line up Jurgen Klinsmann to replace him.
Although Hicks claims the move for the former Germany manager was an “insurance policy” in case Benitez walked out on Anfield, the Spaniard is now weighing up whether he can sue the Dallas billionaire for constructive dismissal.
He is said to be furious at what he sees as another attempt to undermine his position, which comes just one month after Hicks and co-chairman George Gillett reassured Benitez that he had their full support. But following Hicks’ comments, in an interview with the Liverpool Echo, the Spaniard’s position now looks untenable.
Hicks said: “We attempted to negotiate an option as an insurance policy to have him [Klinsmann] become manager if Rafael left for Real Madrid or other clubs that were rumoured in the press - or in case our communication spiralled out of control for some reason.
“We never reached agreement on an option with Jurgen, and we are both pleased for him that he has a great opportunity to return to Germany and coach a great club team.”
The confirmation that an approach was made to hire the former Tottenham striker, who has now agreed to take over at Bayern Munich at the end of the season, is all the more damaging for Benitez as it was reports linking Klinsmann with his job which prompted the November stand-off with Hicks and Gillett.
Benitez’s attack on the Americans over a perceived lack of support in the transfer market led to Hicks and Gillett slapping him down, telling him to “quit talking about new players”. Since their meeting in mid December, Hicks claims relations have greatly improved with Benitez. He added: “After George and I had our long and productive meeting with Rafa following the Manchester United match, we put all of our issues behind us and received Rafa’s commitment that he wanted to stay with Liverpool. Rafa has both of our support, and our communication has greatly improved.”
But the Klinsmann revelation would appear to confirm Benitez’s fears that he will be sacked at the end of the season. And if he were to be sacked or successfully claim wrongful dismissal then he would be entitled to around pounds 6?million in compensation for the two years outstanding on his contract. The timing of Hicks’ comments is all the more surprising given the financial uncertainty at the club.
A pounds 350?million deal to refinance the Americans’ borrowings used to buy the club last February is still not concluded. But Hicks yesterday insisted: “It’s probably taken two to three months longer than if the markets had been healthy. It’s going to close by the end of the week.”
IF THE breathtaking admission by Liverpool’s American co-owner Tom Hicks Monday that the club tried to recruit Jurgen Klinsmann as a back-up for Rafa Benitez was designed to bring an end to speculation over the Spaniard’s future then it was a spectacular own goal. Benitez, who has tried to distance himself from reports that he believed he was heading for the sack at the end of the season, can be in no doubt now that he is a dead man walking. But the far bigger question is whether Hicks and his co-owner George Gillett will still be around to pull the trigger. A pounds 350?million refinancing deal with the Royal Bank of Scotland and American investment bank Wachovia remains unsigned, despite Hicks insisting yesterday that the deal will be closed by the end of this week.
A City source echoed that upbeat view yesterday, telling The Daily Telegraph that the two banks were confident of doing a deal if not this week then by the end of next.
Having put on hold plans to borrow pounds 300?million to finish the new 70,000-seater stadium at Stanley Park, Hicks and Gillett are trying to borrow pounds 350?million to refinance a one-year loan with RBS which paid for their pounds 220?million takeover last February. They also want another pounds 60?million to provide working capital to get the new stadium at Stanley Park under way and pounds 20?million to refinance loans used to purchase players in the summer.
The club’s net debt is thought to be around pounds 270?million but there is resistance from within Liverpool to the owners’ plans to transfer the liability for that from their own personal assets in the US to the club’s own balance sheet.
Talks with the banks also broke down in December amid concerns over the Americans’ ability to put up around pounds 150?million in cash and personal guarantees to secure the new loans.
With less than six weeks before the original loan with RBS runs out, Hicks and Gillett know their grip on the club is under serious threat.
At a board meeting in
New York last week, the club delayed a decision on a final design for the new stadium and amid all the uncertainty there has been growing speculation that Dubai International Capital, the investment company bankrolled by Sheikh Mohammed bin Rashid al-Maktoum, is ready to launch a fresh takeover bid. Hicks and Gillett have already held talks with DIC about selling them a 15 per cent stake in the club last November to help bring pounds 150?million of fresh investment into the club. As first reported in this newspaper on Dec 20, that deal collapsed after DIC pulled out, claiming Hicks’ pounds 1?billion valuation of the club was unrealistic. But talks did reach an advanced stage and, despite dismissing weekend reports that DIC were set to make an offer, a deal cannot be ruled out.
Hicks continues to insist that outside forces are trying to destabilise Liverpool. But by making such naive comments about the approach for Klinsmann, it is clear the Dallas billionaire is unaware of the chaos that is actually being caused by those in charge at Anfield. Judging by the response to Hicks’ latest remarks on the Liverpool fans’ forums yesterday, there can be no doubt who the supporters blame for the latest crisis.
One online poll revealed that Gillett and Hicks now have the backing of just over one per cent of the fans, with 83 per cent calling for DIC to take over as owners.
The support for Benitez to continue as manager was equally overwhelming.
Everything now hinges on whether Hicks and Gillett can deliver on their promise to bring financial stability back to the club. If they succeed then Benitez is on borrowed time. Should they fail then the Spaniard may find he soon has new masters to impress.
^^ Why doesn't someone just shoot them? Serious question.
They could do a Beatles-themed assasination to conicide with the capital of culture celebrations.
__________________
Quote:
Originally Posted by Luther Sloan
The Federation needs men like you, doctor. Men of conscience. Men of principle. Men who can sleep at night. You're also the reason Section 31 exists - someone has to protect men like you from a universe that doesn't share your sense of right and wrong.
I second that, between Rash, DT and Kaizer Sauze TLW has been well represented in the nationals throughout this whole shitstorm - and must surely claim some credit should things unfold the way we all hope.
__________________
Quote:
Originally Posted by Luther Sloan
The Federation needs men like you, doctor. Men of conscience. Men of principle. Men who can sleep at night. You're also the reason Section 31 exists - someone has to protect men like you from a universe that doesn't share your sense of right and wrong.
Tell you what, it's worrying what I choose to do with my day offs these days. Over a hundred posts in a day, that's shocking that!
I suppose the circumstances dictate!
"These are the times that try men's souls: The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of his country; but he that stands it now, deserves the love and thanks of man and woman.
Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph."
__________________
Quote:
Originally Posted by Luther Sloan
The Federation needs men like you, doctor. Men of conscience. Men of principle. Men who can sleep at night. You're also the reason Section 31 exists - someone has to protect men like you from a universe that doesn't share your sense of right and wrong.
"These are the times that try men's souls: The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of his country; but he that stands it now, deserves the love and thanks of man and woman.
Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph."
Brings a tear to the eye...
The bird's got a cob on with me tonight, but she doesn't understand. Today has been a big day!
__________________
"We view these athletes in different lights"
Can we start another poll to see who is the biggest cunt on this forum, its a hard choice but i go for Crouch closley followed by Stouffer, well in lads you pair of enormous cunts.
BTW - Well done Rashid. Gone up in my estimations.
Can we start another poll to see who is the biggest cunt on this forum, its a hard choice but i go for Crouch closley followed by Stouffer, well in lads you pair of enormous cunts.
BTW - Well done Rashid. Gone up in my estimations.
Stouffer? Leave the wor lad alone.
Well done Rash, it all helps.
__________________ "I won't come on tv and speak or write about anything and say words only half the people listening understand. In our language there's a similarity, words that are spelt differently but mean the same thing. Words that mean the same thing and the big men use these words, knowing full well that maybe only 10% of the people listening will understand. Well we don't. We speak the language that everybody understands. Instead of me saying somebody was avaricious, I'd say he was bloody greedy."
