BBC headline: DIC to bid for whole club

[StevieH]

Originally Posted by Rashid I think everyone should look out to see what Olly Kay says in the Times tonight. Kay is best chums with David Moores.

Come on Rashid don't be a tease. What do you know mate?

[Kopite]

If DIC come in then there has to be no more Kuyt or Pennant. There simply has to be more of the likes of Torres.

Rafa needs to spend more wisely. We can beat Man Utd and Chelsea. However we need to be smarter than them. They can afford to waste £10m+, we can't.

Shankly did it, and Paisley too. It can be done.

[Rashid]

This is from that guy who had a guided tour of Anfield etc with Gillett a few months ago. So I'd say he is in the know.

Gillett, Hicks marriage set to end in sale of Liverpool's beloved club STEPHEN BRUNT sbrunt@globeandmail.com E-mail Stephen Brunt | Read Bio | Latest Columns January 19, 2008 Suffice it to say, there is trouble in paradise. The partnership between George Gillett and Tom Hicks, the Americans who own the Liverpool soccer club, is in severe distress. It's a safe bet the team's immediate future might involve one of them, or the other - or it might involve neither. But it almost certainly won't involve both. When they purchased the club a little less than a year ago, Gillett and Hicks had to know they were in for a bumpy ride. Other outsiders had already made their way along that perilous path - most notably the reviled Glazer family with Manchester United and Russian zillionaire Roman Abramovich with Chelsea, who at least bought love by winning silverware - but still there remains that tinge of suspicion bordering on xenophobia any time outsiders grab a piece of England's national game. Liverpool, with its glorious history and with its distinct local culture, would arguably present an even greater challenge than the other clubs. From the outset, the battle for scouser acceptance was an uphill battle, with the local press jumping on any suggestion the Americans didn't fully comprehend the game or its idiosyncratic business and didn't share the supporters' undying passion. Gillett at least understood that kind of dynamic, having gone through much the same thing when he bought the Montreal Canadiens. He managed to defuse most of the resistance there by hiring good, unimpeachable people to run the team and by approaching the whole cultural issue from a posture of humility. With Liverpool, his son, Foster, moved to the city full-time to help run the team, just as he had previously moved to Montreal, and though George Gillett quickly stopped talking to the local press, he stayed visible among the fans, employing his considerable charm toward convincing the supporter base that his heart was in the right place. For Hicks, though, who owns the Texas Rangers of Major League Baseball and the Dallas Stars of the NHL, this was all new territory, and he stepped into trouble again and again. Much of the most recent media firestorm in Britain, including the admission the owners had dallied with Jurgen Klinsmann (who subsequently accepted the job of managing Bayern Munich beginning next season) while Rafael Benitez was still under contract as the Liverpool manager, can be laid at Hicks's feet. That clash in styles - as much as the oft-reported question of the club's refinancing in order to underwrite the construction of a new, much larger stadium to replace the fabled Anfield - seems to be at the heart of the current ownership crisis. It is highly likely that by next week it will be announced the owners' refinancing plan has been completed - a tricky proposition in these times of tight credit - allowing Liverpool both to turn sod for the new stadium this coming summer, with opening scheduled for 2011, and to be active participants in the transfer market going forward. The extra seats and extra revenue possibilities of the new Anfield will allow whoever owns the team to proceed from a position of strength in the ultracompetitive upper echelon of the English Premier League. But just who is that going to be? It's an open question right now. Hicks and Gillett are equal partners. The first option will be for one to buy the other out - whether Hicks's heart is still in the game is difficult to judge, but Gillett at very least seems interested in continuing his association with soccer, either at Liverpool or elsewhere, where he might invest the proceeds of a buyout. If either is seeking a new partner, there are a plenty of available candidates waiting in the wings, including Dubai Investment Capital, which was beaten to the punch by the Americans last year. Similarly, if both Hicks's and Gillett's share goes on the open market, there would be no shortage of interested buyers, and the Americans could be expected to claim a healthy return on their initial investment. But the sense is that Gillett, if he has his druthers, would prefer to hang in - and if it's in a buyout scenario, almost certainly with a new partner. That might not be the perfect ending for the hardcore Liverpool loyalists, who no doubt dream of having one of their own sitting in the front row of the directors' box, someone who has lived and breathed the team and the city his or her entire life. But assuming that that's a fantasy now, that the choice is between one American, another American, and the investment arm of an oil-rich Arab emirate, it shouldn't really be so tough. A hockey fan in Montreal could tell them they could do much worse.

[StevieH]

Originally Posted by Kopite If DIC come in then there has to be no more Kuyt or Pennant. There simply has to be more of the likes of Torres. Rafa needs to spend more wisely. We can beat Man Utd and Chelsea. However we need to be smarter than them. They can afford to waste £10m+, we can't. Shankly did it, and Paisley too. It can be done.

If Rafa was given the green light to sell some of the dross, he could probably generate enough cash to bring in real genuine quality.

[StevieH]

Originally Posted by Rashid This is from that guy who had a guided tour of Anfield etc with Gillett a few months ago. So I'd say he is in the know.

I posted that article earlier this evening. Stephen Brunt seems very pro-Gillette.

[m0e]

Originally Posted by Rashid From what I have heard, this time round the Shiekh has actually said "get me Liverpool"... and from what I have heard they want it badly now... they will invest heavily lads, no joke. They will buy at the top of end of the market.

Where do u get your info from Rash? PM me if you can't make it public, but I don't understand where this comes from. I know 2 people that work at management level for DIC and none of the stuff you're coming up with fits in with what I'm hearing.

I should find out some facts tomorrow, and will let you all in on what I've heard. But I've been told "not to get my hopes up".

[Rashid]

Originally Posted by m0e Where do u get your info from Rash? PM me if you can't make it public, but I don't understand where this comes from. I know 2 people that work at management level for DIC and none of the stuff you're coming up with fits in with what I'm hearing. I should find out some facts tomorrow, and will let you all in on what I've heard. But I've been told "not to get my hopes up".

It is from a Journalist who has been covering the story and has been 100% spot on for the past 2 months. Could be wrong obviously.

We can only wait and see I guess.

[Kurt]

I really hope you or your contacts are for real Rash... For if it turn out to be bollocks, you with your history, will probably get lots of added abuse thrown your way...

[m0e]

Originally Posted by Boyspen What do you all know about DIC though ? Are you happy to accept their monies given the Human Rights Record in Dubai ? Are you happy with how they treat their workers in Dubai ? Or do you just want their dosh ? Have a peak at this article New Left Review - Mike Davis: Fear and Money in Dubai

I'm too tired to read this, but will do so tomorrow morning.

However, one point I'd like to make is that the Emirates (as well as most Gulf States) give working visas to people who would never in a million years be given entry to the UK or the States.

They come here to earn money, they take the money out, and they never come back as soon as they can afford to. As I said to an English lad moaning about one of their "stupid rules": if you don't like it here, then fuck off back to Britain.

No one is forcing them to come here and no one forces them to stay.

I lived in London for 15 years. I now own a company in Dubai which employs 15 staff from the Philipines. They are all treated very well, and although that's not the case with everyone, Shk Mohammed is always trying to improve the laws and rights of everyone here. From the cleaners, right the way through to government officials.

Don't forget, he doesn't make the rules. Abu Dhabi does. And to change the habits of a lifetime is not an easy task. He's made Dubai a much better place than when I grew up here in the late 70's early 80's.

Ps - Rashid is correct about Israel. If anyone has an Israeli entry stamp on their passport, they are denied entry here. People who do business there often ask the Uk government for 2 passports. One for Israel and one for the Arab world. Israel is not recognised as a country here, the same way Palestine isn't in other parts of the world.

[StevieH]

Liverpool’s culture club lies in tatters

Liverpool’s culture club lies in tatters | the Daily Mail

Peter Robinson was the wily old symbol of Liverpool's stability, the keeper of their culture. As club secretary, then chief executive, he saw managers and players come and go through all the Reds' glory years. And there were plenty of them in the heydays of the Seventies and Eighties.

"We are here for one reason: to win trophies," he once said in explaining the club's credo — what American owners might understand better these days as a "mission statement'. "We are an oldfashioned football club, not a quoted plc and we don't pay dividends to shareholders. Any money we generate is ploughed back into the team or stadium."

Here's to you, Mr Robinson, Anfield needs you more than you will know. At least that might be the verdict of many a Kopite wondering what is going on within the club and what has happened to a tradition that served them so well for so long.

The revelation by co-owner Tom Hicks that he and partner George Gillett had met Jurgen Klinsmann to discuss the German taking over from Rafael Benitez as manager has brought Liverpool's internal angst more into the public domain, with debates rumbling on. It is all so out of step with an ethos carefully established in Robinson's era.

The problem is that the game has changed and Liverpool are still coming to terms with it. That kicking and screaming is the sound of them being dragged into the 21st century.

Theirs was always an admirable philosophy, their financial husbandry sound, the bond with their fans strong. But they never fully capitalised on their success in the commercial way that Manchester United have done.

Left behind, the last title having been secured in 1990, majority shareholder David Moores decided that new funding had to be sought. The result of a three-year search was Hicks and Gillett, who were seen as the acceptable face of American finance and sports ownership, in contrast to the Glazers, who were borrowing bundles to buy United.

Now Hicks and Gillett are lumbering the club with huge debts to finance a new stadium. Moores is said to have regrets that he sold to them while others, not least in Dubai, wait to see if they want to sell up, which they deny. Who would have thought that the Glazers would be seen as less ogreish owners? We should not be naive. Robinson knew how, when and where to place stories and information if he and Liverpool wanted something airing. Neither were they averse to gleaning information on, and sounding out, future managers if needs be.

Thus, while it may sound devious that Hicks and Gillett spoke to Klinsmann, the real damage in undermining Benitez comes from them having been found out. Benitez may now have much sympathy but that may be because he and his agent, with an agenda of their own, have managed to keep quiet any contact from other clubs who might want to lure him away, thus prompting the owners' Klinsmann 'insurance' policy.

Now it looks as if the fracture will not be healed. As Liverpool go into tomorrow's match against Aston Villa with the top three pulling away while they are coming under pressure for the fourth Champions League place, it could be that defeat by Internazionale in the last 16 next month will see the departure of Benitez, if Liverpool can afford to pay up his contract.

And while the owners may have said when they arrived that they understood the principles at Liverpool's heart, they will have learned a painful lesson in this week of all the talk about being true to a club's footballing culture, as outlined by Kevin Keegan on his return to Newcastle.

Robinson might have been less comfortable these days, perhaps less effective, with such a copious and intrusive media pack containing so many unfamiliar faces and it may be a changing game, to which the club finally need to respond, certainly economically. But his and the old club's views on old-fashioned values and conducting matters with class and dignity should still hold good.

[StevieH]

Liverpool turmoil grows as Rafael Benitez stays defiant

Liverpool turmoil grows as Rafael Benitez stays defiant | Liverpool - Times Online

Jonathan Northcroft

TOM HICKS and George Gillett face a decision whether to relinquish control of Liverpool or struggle through a gathering mass of problems, after being put on the spot by would-be buyers of the football club, DIC (Dubai Investment Capital).

DIC, the investment arm of the Dubai government, were yesterday on the brink of making a formal offer for Liverpool, forcing the Americans to choose whether to stick with their stakeholding – or twist.

The DIC bid appeared to be timed to pressure Hicks and Gillett at a vulnerable moment. Supporter opposition to Gillett and Hicks, who last week confirmed that the pair had approached Jurgen Klinsmann about taking over from Rafael Benitez, has hardened to the point where a mass demonstration is planned for tomorrow’s game at Anfield versus Aston Villa. A concerted campaign is also under way to send abusive and threatening email messages to Kekst, the New York public relations company employed by Hicks.

The DIC offer also comes at a time of fresh reports of a rift between Hicks and Gillett. Though dismissed by the Americans as rumour, it may be significant the story is being reported in Canada, in a news outlet which has previously had close dealings with Gillett, owner of the Montreal Cana-diens ice hockey franchise. Until now, Hicks has been determined to hold onto his stake, and bring long term plans, including building a new stadium for Liverpool, to fruition.
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The intentions of Gillett, who has studiously avoided being drawn publicly on his position, continue to remain unclear. DIC appear to think that they can acquire Liverpool, which they attempted to purchase prior to the American takeover in February 2007, by a “divide and conquer” strategy – if they can persuade one of the co-owners to sell, the other may be forced to follow.

Until last week, sources familiar with Hicks’ position were bullish that he and Gillett could move the club forward as a partnership and be owners of Liverpool “for a very long time”.

The first step in that process would be to complete a £350m deal to refinance debts accrued by the Americans as result of their £220m takeover of Liverpool last year, investment in the playing squad, interest payments and a significant tranche of money needed to commence work on the new stadium. Sources suggested such an agreement would be struck by as early as this weekend. Analysts say such a deal is still immiment, with Tuesday now the more realistic deadline. But others in the City of London note that this has been the Americans’ position since as long ago as November, when they were promising refinancing would be in place before a visit to Liverpool by Hicks and Gillett from December 13.

Royal Bank of Scotland and Wachovia, the banks involved, want personal guarantees, said to be worth £150m, from the co-owners as condition of the loan. Some City sources suggest the delay is down to Gillett’s reluctance to do this, with his unhappiness at Hicks’ dealings over Liverpool, which included the local newspaper briefing last week in which he admitted approaching Klinsmann as an “insurance policy” should Rafa Benitez depart as manager.

The Klinsmann affair further infuriated supporters already livid about the fact that the refinancing deal proposes loading a signifant amount of debt upon their football club – despite contrary reassurances by Hicks and Gillett – much in the manner the Glazers have done with Man-chester United.

Even if the £350m loan is secured, a further £300m will have to be borrowed to build a “new Anfield” on Stanley Park. It is these financial pressures, coupled with their loss of popularity, which is persuading DIC the Americans might now feel it is time to down cards and cash in what chips are on the table.

Hicks and Gillett valued Liverpool at £1bn when they had talks with DIC about investing in the club in October. But DIC are said to be offering no more than half that figure in their buy-out proposal. Even so, pocketing £500m would still represent a tidy profit for the Americans, who paid £218.9m less than 12 months ago to gain control at Anfield. There is genuine uncertainty in the City about which way the Americans will go. If one wants to sell, the other has first option on whether to buy him out and even if, for instance, Hicks wished to continue with his plans for Liverpool and Gillett wanted out it would be a costly business for Hicks to go it alone Despite the machinations, Rafa Benitez still expects to be managing Liverpool until the end of his contract in 2010 after a week in which his position appeared to have been seriously, perhaps even critically, destabilised by Tom Hicks. The bullish pronouncement represents a change in tack from Benitez, whose mood until recent days had been so gloomy as to provoke stories that he could leave Anfield by the summer. After further speculation about his future caused by Hicks’ Klinsmann revelation, the Spaniard has decided to come out – or at the very least go down – fighting. His stance will be welcomed by a majority of Liverpool fans, with a demonstration against Hicks and his co-owner, Gillett, planned for tomorrow’s home game against Aston Villa.

Benitez had kept his counsel following the Klinsmann disclosure, but asked whether he still expects to be in charge 12 months from now, he replied: “I have a lot of confidence. I have two-and-a-half years left on my contract and I’m really happy and pleased to be here.”

He denied his authority had been compromised by the approach to Klinsmann. “You can see the commitment [from the players] has been really good. Training has been more or less the same. I was telling them the most important thing is the club. We must do the best for the club, our fans. It must be like this,” he said.

Though the dressing room’s key figures, Jamie Carragher and Steven Gerrard, have been careful not to be drawn into a debate about their manager’s future, other players, such as John Arne Riise, Sami Hyypia and Xabi Alonso, have come out with expressions of support. Jer-maine Pennant said, “it’s all about stability and building”, likening the long-term work Benitez is attempting to carry out to that of his former boss at Arsenal, Arsène Wenger. Benitez, who may now feel he can outlast the Americans, or at the very least that if Hicks stays he would not risk further unpopularity and tension by sacking him, was bold enough to put forward what amounted to a manifesto.

“I have an idea of how to progress,” he said. “The first team is much better with a spine – Xabi Alonso, Steven Gerrard, Daniel Agger, Fernando Torres, Jose Reina – of young players with quality, and other young players like Ryan Babel, Lucas Leiva and Martin Skrtel in the squad. We need to bring some people in but we are much closer. We are signing a lot of young players and the reserve team, with an average age of 17, are second top of their league. That was the plan and we will continue with the plan. I am talking to the players, some of them, a lot of them, say, ‘What is going on?’ ‘Keep going’ is the answer. ‘Try to do your best’. I am working and thinking about the future. Nothing has changed.”

[DomL]

Originally Posted by m0e Where do u get your info from Rash? PM me if you can't make it public, but I don't understand where this comes from. I know 2 people that work at management level for DIC and none of the stuff you're coming up with fits in with what I'm hearing. I should find out some facts tomorrow, and will let you all in on what I've heard. But I've been told "not to get my hopes up".

Moe are you saying your sauce knows that the armicans wont accept or that the offer is in fact aload of bollocks.

[RedKnight]

The media tide has certainly turned against them now. I don't think anyone backs them against Rafa.

*chants*

You fucked up. You fucked up. You fucked up.

[Jayesh1987]

Anfield crisis: Owners could sell Liverpool for £50m profit as title hopes crash
Last updated at 22:13pm on 19th January 2008

Liverpool's future is in the balance after it emerged last night that the club's millionaire American owners are ready to reject the chance to make a staggering profit of up to £50million by selling out less than a year after their takeover.

Dubai International Capital have made an offer, reported to be £400m, to buy out George Gillett Jnr and Tom Hicks and take on the club's debts.

The deal would result in the two American millionaires making a huge profit without having put a cent of their own money into the club, an outcome which would anger Liverpool fans already dismayed by their team's lack of progress towards becoming genuine Premier League contenders since the arrival of Gillett and Hicks.

Liverpool face Aston Villa tomorrow with their hopes of a title challenge already conceded by defender Jamie Carragher to be virtually non-existent.

Despite the temptation to cash in, Hicks and Gillett are understood to be planning to cling on to control of the club and go ahead with their intention to take out £350m in refinancing loans.

The worrying downside to that venture would be the crippling effect on the transfer plans of manager Rafael Benitez and the fear that it could be the first step towards a Leeds United-style meltdown. Neither DIC nor the club's bankers, the Royal Bank of Scotland, would allow that to happen and they will hold crisis talks this week to discuss how DIC, the investment arm of the Dubai government, could rescue Liverpool from crisis, on and off the field.

Gillett and Hicks are close to finalising a restructuring package with RBS, who loaned them £220m to buy Liverpool last February, and American bank Wachovia.

The new £350m loan would cover the Americans' original borrowing, the money the club raised to buy players last summer and the start-up costs for a new stadium project.

But City observers believe the new loans would be merely a 'sticking plaster' for the problems at Liverpool and would leave them unable to compete with the likes of Arsenal, Manchester United and Chelsea because of crippling £30m-a-year interest charges.

There are even fears that any future failure to qualify for the Champions League could leave the club vulnerable to the kind of downward spiral suffered by Leeds. RBS, who have a l