BBC headline: DIC to bid for whole club

[EmilHamilton]

Thing is ultimately if what we're doing at the moment is causing such a stir I can only imagine how rampant our disgust will be if they actually do refinance their package and pump debt into the club.

[Carra_is_legend]

Thing is ultimately if what we're doing at the moment is causing such a stir I can only imagine how rampant our disgust will be if they actually do refinance their package and pump debt into the club.

 

There will be anger, protests etc but ultimately, it will die down. LFC has one major weak point in that it has too many loyal fans. The yanks know this and this is the reason why they won't give a flying fuck. If they really want to, they can ride this storm quite easily.

[EmilHamilton]

It has too many loyal fans, yes, but it has angry loyal fans now, fans loyal to the club, not the owners.

[TheDrowningMan]

It has too many loyal fans, yes, but it has angry loyal fans now, fans loyal to the club, not the owners.

 

As long as the newspapers keep it up, the fans will be there in significant numbers to aim vitriol at the owners.

 

This will be much, much more effective than the 'save Rafa' protest because we have the media well and truly on our side this time.

[Guest Stevo]

Change of owners would leave Reds in the black

 

KAREN GILES January 21 2008

 

Is this your source?

 

Seriously, why not just post what you know instead of articles with contradictory information?

[EmilHamilton]

Listen Steve, if you shut the fuck up it'll be much easier for people to discuss what's happening rather than discuss whether Rash is credible or not.

 

Ta.

[Guest Caffreys]

Liverpool will not be sold to Dubai group, insists Hicks

 

by Ian Herbert and Nick Harris

 

The Arab investment group which has long had Liverpool in its sights was last night losing its race to take over the club from Tom Hicks and George Gillett before the Americans refinance the £350m debt they incurred buying it.

 

Contrary to reports at the weekend, Dubai International Capital has not made a formal offer for the club and a senior source said yesterday that it is now 90 per cent certain that the Americans will refinance the debt, drastically reducing the chances that DIC will have any interest in buying them out. DIC is understood to have proposed a sum of around £300m to Hicks and Gillett, but that has been rejected and there is increasing frustration in Dubai over Hicks' increasingly outlandish demands. He is understood to have brought demands unrelated to Anfield into the equation and, although DIC will seek discussions this week with Royal Bank of Scotland, which, with the US bank, Wachovia, is refinancing the Americans' loan, the new debt package is likely to go ahead within the next few days.

 

"[DIC] are getting exasperated," said the source. "They want to be involved, they want to put money into the club but they are not going to line the pockets of the [current] owners. They are not desperate and they don't see Liverpool as a trophy asset." Sources in Dubai also categorically denied any formal offer had been made to the Americans yesterday.

 

Last night, Hicks issued a statement insisting he had no intention of accepting an offer for his stake in the club. "I have not received any offer to purchase the club from the DIC or anyone else, much less accepted any such offer," he said.

 

"Nor do I have any intention of doing so. Whoever is behind this false report, the facts are that I and my family have always been, and remain, fully committed to co-owning the club; that no one in my family has ever indicated any intention or desire to sell our stake in the club; and that we expect and intend to be co-owners of the club, and to actively and enthusiastically support the club's manager, players and fans for many years to come."

 

One rumour still circulating is that DIC, the investment arm of the Dubai government, has found a way of meeting Hicks and Gillett's demands while not exceeding its own desired outlay. One major football financier suggested yesterday that DIC representatives would be in Liverpool this week to conclude that deal, which would include Liverpool's debt being taken on by the Dubai state through the issuing of sovereign bonds.

 

But sources in Liverpool categorically deny that any such deal is on the cards. Instead, a £350m refinancing arrangement – covering the £220m cost incurred in the Americans' takeover last year plus investment in the squad, interest payments and money needed to start work on Liverpool's new stadium – is now almost certain to be concluded, making DIC likely to "walk away". That is because DIC wants to conclude its own refinancing arrangements rather than take on the increased debt and because the resolution of the debt issue would give Hicks increased security at Liverpool, allowing him to sit back and see how the club develops.

 

DIC, the investment vehicle controlled by Sheikh Mohammed bin Rashid al-Maktoum, one of the world's richest men, has been consistently linked with Liverpool in recent months. It came close to buying the club a year ago and, though negotiations broke down, Hicks and Gillett's desire to put the new debt directly on to Liverpool's books, guaranteed against club assets rather than their own, makes DIC a far more attractive proposition to a club which does not want to be loaded up with debt. The uncertainty over refinancing seemed to have created an opportunity for DIC and it has been in daily contact with Anfield in recent weeks.

 

Persuading Gillett to sell might be one possibility, though it seems that DIC is not interested in his share alone and the best hope might have been that, if Gillett capitulated, then so would Hicks. But Gillett seems to have been persuaded against that. "[DIC] would prefer to have the [whole] club," said the source. The failure to conclude a deal will be a source of dismay to Liverpool, where the absence of any cash investment by the Americans has created a schism with the board which is trying to run the club on a day-to-day basis.

 

Though it is thought the debt may be set against Hicks and Gillett's own corporate structures there has been a growing schism between the board and the owners who, when they took over, said theirs would not be a "Glazer-style" takeover, with the club potentially imperilled by debt set against its assets.

 

Over to you Rash on this one.

[EmilHamilton]

Which newspaper for fuck's sake?

 

Right the Independent.

 

Let's see what Barrett has to say.

 

Bascombe reckons it'll go through, fair enough, I'll believe him for now.

 

The Telegraph article is equally rehashed, not even worth linking.

[Dougie Do'ins]

Its not to bad now but what if this drags on into the close season. the story will go cold in the national media. The yanks carry on with their plans of putting the club in debt and we wont have football at Anfield to gather enmass.

 

When the yanks took over was'nt one of their conditions on the deal going through that Moores stayed on as life president. ? What kind of statement would it make if he resigned over this shambles.

[EmilHamilton]

My mistake, the Telegraph article isn't the rehashed one.

 

Hicks comes out fighting for hold on Liverpool

By David Bond

Last Updated: 12:27am GMT 21/01/2008

 

 

A new bid for Liverpool from Dubai International Capital was hanging in the balance last night after the club's co-owner, Tom Hicks, blocked talks between the investment company and his bankers, the Royal Bank of Scotland.

 

 

A crucial meeting was due to be held today between senior executives from Dubai and RBS, who loaned Hicks and his partner, George Gillett Jr, the money last year to complete their £220 million purchase of Liverpool and are currently trying to clinch a £350m refinancing deal.

 

 

The talks with RBS are a prelude to a formal offer for the club from DIC, the investment arm of Sheikh Mohammed bin Rashid Al Maktoum, who missed out in the battle to buy Liverpool last year.

 

But Hicks has told RBS they cannot open any dialogue with DIC until after the refinancing is completed. DIC in turn have made it clear to Hicks that if he does press ahead with the refinancing then they are prepared to walk away.

 

With Liverpool already in turmoil over the refinancing and the breakdown of Hicks's relationship with manager Rafa Benitez, the extraordinary game of brinkmanship risks plunging the club into crisis. Despite that threat, the refinancing package, which also involves American bank Wachovia looks like being sealed and announced in the next few days.

 

Last night Hicks issued another defiant statement, denying reports that he and Gillett wanted to sell the club. Hicks said: "I have not received any offer to purchase the club from the DIC or anyone else, much less accepted any such offer. Nor do I have any intention of doing so.

 

advertisement"I and my family have always been, and remain, fully committed to co-owning the club; that no one in my family has ever indicated any intention or desire to sell our stake in the club; and that we expect and intend to be co-owners of the club, and to actively and enthusiastically support the club's manager, players and fans for many years to come."

 

That pledge is only likely to inflame tensions between the owners and the fans, who are planning to protest against the regime at tonight's Premier League game against Aston Villa at Anfield.

 

With the relationship between Hicks and Gillett near breaking point, DIC's initial strategy was to go into partnership with Gillett and try to force Hicks to sell his 50 per cent stake in the club.

 

However, late last week DIC made direct contact with Hicks, telling him they were ready to make an offer to buy out both American businessmen.

 

It is thought DIC have drawn up a provisional offer of £350m, which includes Liverpool's debt. City sources insist DIC will only pay a realistic commercial price for the club, adding that reports of a £500m bid are wide of the mark.

 

DIC have also told Hicks and Gillett that any offer made after the refinancing will reduce the £80m profit the pair could stand to make from selling up just a year after their takeover.

 

The refinancing just means Gillett and Hicks are in a weaker position when selling, which would benefit DIC to be honest.

 

Let's see how it goes.

[Ted]

Fuck all these contradictory articles. I'm ignoring everything in print until it says either: "Deal goes through!" or "Deal Collapses!"

 

Until then it's all just specu-motherfuckin-lation.

[rebel23]

telegraph, independent and the times are all saying the same thing, that Hicks is a stubborn twat with unreasonable demands. the team needs investment and a stadium and he wants a massive pay off, it's disgraceful and Moores is a cunt too

 

DIC will likely walk away, they dont want the refinancing and they would probably have their own ideas about the stadium design and capacity, if they start building it we have lost all hope of ever getting them back to the table

[EmilHamilton]

Doom and gloom again, what a surprise.

 

If there's one thing you can be sure of with people like you, rebel, there's a great love to just see the end of the world is nigh even though judgement day isn't here yet.

 

Nothing's over yet, far from it I reckon.

[philyhamann]

I think its important we continue our campaign against them, and I'm not talking about one off protest marches and a few chants from the back of the Kop. If they don't work, its time to start hitting them in the pockets and making sure EVERYONE knows how to do this, not just the interwebs fan.

[rebel23]

Doom and gloom again, what a surprise.

 

If there's one thing you can be sure of with people like you, rebel, there's a great love to just see the end of the world is nigh even though judgement day isn't here yet.

 

Nothing's over yet, far from it I reckon.

 

don't be naive, ive looked at the numbers and there's no way it's sustainable, ive been saying it for months. Hicks was supposed to have all this in place in November, then he couldnt afford the stadium, the debt is growing at 20-30% per annum. I also predicted that talk about replacing managers would just fuck us up, so maybe you should listen to people who have been right all along.

[EmilHamilton]

Eh?

 

I'm saying DIC won't walk away so easy, not saying G&H aren't untrustworthy cunts.

[EmilHamilton]

Daily Telegraph

 

Liverpool fans crave Dubai ending to nightmare

By David Bond

Last Updated: 1:32am GMT 21/01/2008

 

 

 

Liverpool fans planning what is likely to be the first in a series of anti-American protests at Anfield tonight are in no doubt. Having seen their bid dramatically trumped by Tom Hicks and George Gillett last year, Dubai International Capital are the only solution to a crisis distinctly out of keeping with the club's dignified and illustrious history.

 

 

At the same time as angry supporters were bombarding Hicks's New York-based public relations advisers, Kekst, with abusive emails last week, desperate electronic missives were being sent to DIC's Dubai offices urging the country's fabulously rich ruling al-Maktoum family to launch a rescue bid for Liverpool.

 

 

Man in the middle: Benitez needs to stay focussed on the football

That bid, which could be worth around £350 million, remains on hold today following a refusal from Hicks to allow DIC access to talk to his bankers, Royal Bank of Scotland.

 

Hicks wants to wait until after a £350 million refinancing is concluded in the next few days, believing that he will then be able to ask DIC for more money.

 

But DIC are anxious to strike immediately, fearing the financial position of the club will only worsen if the refinancing goes through. In addition to around £25 million of 'rolled up' interest, the refinancing is set to cost £15 million in fees to the banks, RBS and Wachovia. DIC are likely to reduce the value of their offer to Hicks and Gillett in order to ensure that no more money is wasted. Another £20 million is thought to have been spent on fees to architects for the delayed new £400 million stadium at Stanley Park.

 

Despite threats that they will walk away if the refinancing goes through, DIC remain committed to buying Liverpool. That will be welcomed by supporters who, according to one online poll last week, overwhelmingly want to see Hicks and Gillett replaced by DIC. Just one per cent want to see the Americans remain in charge while 83 per cent want to see DIC take over.

 

But would DIC necessarily be the answer? In terms of financial muscle there can be no question that they are far more powerful.Although DIC chief executive Samir Al Ansari, a lifelong Liverpool supporter, will want to run the club along proper commercial lines, he is backed by Sheikh Mohammed bin Rashid Al Maktoum and will be able to call on tens of billions of pounds. Crucially, with the stadium plans on hold, DIC will be able to dodge the global credit crunch by borrowing from Dubai state funds at lower interest rates.

 

Gillett, the owner of the Montreal Canadiens ice hockey team, was never likely to be the sort of super-rich chairman Liverpool needed. That is why, as DIC stalled over the deal last December, he brought in Hicks to help him secure the club. Hicks, one of the pioneers of leveraged takeovers in the United States, has a wealth estimated at $1.3 billion (£665 million), according to last year's Forbes magazine 'Rich List'. But the Dallas Stars and Texas Rangers owner has been hit hard by the credit crunch.

 

There is also a question of will. Hicks and Gillett only put up £7.5 million each to secure the costly loans taken out with RBS last year to buy the club in a £220 million deal. And the new refinancing deal has stalled largely because of the Americans' attempt to load that debt on to the club's books and their reluctance to put up more of their own cash.

 

DIC sources, on the other hand, insist they have a true and long-term commitment to Liverpool - despite leaks of a sensitive City document last year which set out how they could reap a 25 per cent profit if they sold out by 2012. DIC sources insist there was never any intention to sell the club on so quickly.

 

In the absence of any serious rival bidder, DIC are seen as the only way of ending what has turned from an American dream into a nightmare.

 

Makes more sense that.

[Brownie]

I don't like the way they say it will be 'Anti-American'.

 

It's got fuck all to do with them being American. It's more like, 'Anti-cunts'.

[Rex Banner]

Hicks released a statement on Sunday evening in which he described the latest report as "a complete fabrication and ... absolutely and categorically untrue".

 

Hicks added: "I have not received any offer to purchase the club from the DIC or anyone else, much less accepted any such offer. Nor do I have any intention of doing so.

 

"Whoever is behind this false report, the facts are that I and my family have always been, and remain, fully committed to co-owning the club; that no-one in my family has ever indicated any intention or desire to sell our stake in the club; and that we expect and intend to be co-owners of the club, and to actively and enthusiastically support the club's manager, players and fans for many years to come.":whatever:

 

Hicks' statement was released through financial and corporate communications consultancy FD.

 

I don't think he gets that the supporters want him out, it's like he brings out these statements expecting us to be happy that he doesn't want to sell, that supporter don't want you to stay you stupid fat cunt.

[Rashid]

Spot on Rex. He is like his mate George Bush, he actually thinks people care about him.

[Victor-y]

But Hicks still won`t sell......

[OnizukaEikichi]

damn this cunts

[Sangria]

Surely the 20 million in Architects fees is pure nonsense, it would not cost anywhere near that.

[Carra_is_legend]

Surely the 20 million in Architects fees is pure nonsense, it would not cost anywhere near that.

 

Now we know why Hicks wanted to 'redesign' the stadium before ripping the plans apart.

 

I'm not surprised re: the £20m figure.

 

These two cunts are here to fuck us up big time. No mistake.

[Mr T]

I just can't get my head round what they must have said to Moores and Parry to convince them they were up to the job. Did Rick do any research at all into Tom Hicks?

 

He will be remembered in the same breath as Peter Risdale.