Dubai International Capital (DIC)

[Skidfingers McGonical]

Lastest from dmjn100 on football.co.uk - i know nothing of this guy but he is supposed to have got a few things right in the past.

 

The goings on within Anfield at the moment are quite outstanding.

 

Let me be clear from the off –

 

D.I.C or Dubai International Capital – Remain intent on securing Liverpool.

 

Regardless of what Tom Hicks said on Sportsweek on Sunday morning, which for me was at best vague, there remain serious divisions between Hicks & George Gillett.

 

George Gillett did sign the new finance deal, as so to safeguard his own ‘investment’ (loosely used term there) – but the relationship between the pair is at crisis point.

 

George Gillett’s son has LEFT Anfield at his fathers request & it’s understood by those within Anfield, he will not be returning.

 

George Gillett was said to be ‘outraged’ by Hick’s public comments about the approach made for Jurgen Klinsmann & pulling his son out from Anfield was a public show of his anger.

 

However with Foster leaving, big problems will arise as he was responsible for all the communication between the American owners & Roffa’.

 

I understand he got on very well with Foster & he was responsible impart for Benitez not walking out just recently. Benitez was made aware he had Gillett seniors full support, where as Hicks, as I said in another post – wanted him sacked.

 

Gillett vetoed the move & a power struggle ensued.

 

Gillett’s refusal to back Hick’s caused problems, on top of the big problems that already exist due to the financing.

 

George Gillett is it seems quite a decent chap. From the people I have spoken with who know him or have knowledge of him, he sounds affable, charming & I suppose most importantly, has a genuine liking for Liverpool.

 

Gillett wants to remain true to his word. When he promised Mr. Moore’s & the board members, his intention was not to saddle the club with debt, he meant it, but when he was gifted his opportunity to buy Liverpool, it fast became obvious he wouldn’t be able to do it on his own.

 

He’s paper rich – not cash rich, so as a result he approached Tom Hicks & a plan was put together quicker than a weeks holiday & the lack of initial groundwork is proving severely ill-advised.

 

George Gillett is said to favour doing a deal with D.I.C, as he has realised the ‘Project’ is going to prove impossible with the limited finances they have.

 

He understands that:

 

Yes – they have the money to as Tom Hicks said ‘Start digging’ but that is just about it. They do not have the means to pay for a further minimum £300+ million it will take to complete the stadium.

 

This is something that Tom Hicks is all too well known for.

 

Promising the earth – delivering nothing.

 

Many thousands of Texas Rangers fans would testify to that.

 

Promising to build the worlds best this and that’ – instead bleeding the companies of every single Dollar, Dime & Cent.

 

He sells club assets – from the clubs land to the best players. He minimizes wage bills & raises costs for real fans astronomically.

 

For any Liverpool fan who wants to see the degree of hate felt towards this man – read this:

 

http://rangersorrobbers.wordpress.co...against-hicks/

 

Many people are of the view that it is only a matter of time before George Gillett makes public his intention to do business with D.I.C.

 

Gillett knows if he forces Hicks to sell his share of Liverpool to him, then he can sell the whole package on to D.I.C, which in turn will stand to make Gillett a massive profit.

 

He is the one individual who can realise D.I.C’s dream.

 

Mr. David Moore’s held recent meetings with Gillett, with the sole intention of making it clear how deeply he disapproves of what’s gone on at the club in recent months & weeks.

 

He called on Gillett to honour the original terms of the takeover & has even sought legal advice, even though that avenue would achieve little in real terms.

 

Moore’s is seriously worried his name is turning to mud in Liverpool & is determined to win back the fans he still regards as his own. He doesn’t want to go down in Liverpool’s proud history as the man that managed to help sink Liverpool FC.

 

When Moore’s made his feelings known to Gillett, Gillett promised he would either live up to the original promise but if that proved impossible, he would look to do a deal with Dubai International Capital.

 

My friend told me Moore’s was promised Tom Hicks does not & would not have carte blanche over what happens to Liverpool.

 

Only last week discussions between Tom Hicks, George Gillett & D.I.C regarding the sale of Liverpool FC were ongoing – regardless of what Hicks claims.

 

Those negotiations are said to be ongoing as we speak.

 

D.I.C are determined to gain hold of Liverpool, but do not want to be seen or be perceived to be paying massively over the odds for the club. They think that would set a dangerous precedent & send out the wrong message to people who they deal with in the future.

 

But no matter how vitriolic the statements Hicks makes regarding selling, the facts are:

 

He is hanging on to his piece of Liverpool by a thread.

 

When D.I.C make there move and come to agreement with Gillett, Hicks will have no choice but to re-evaluate his options.

 

So Liverpool FC Fans.

 

Don’t panic.

 

There really is a bright light at the end of this ugly tunnel & that light in the form of D.I.C will make recent events pale into insignificance & resign Tom Hicks to his rightful place:

 

The history books.

 

Good post that coop.

 

That is another thing that has made me even more convinced that Gillett is ok, there is something that won't make me dislike the man. As for Hicks well I couldn't trust him as far as a NASA spaceship could take him.

[RedKnight]

Dubai or not Dubai?

[coop]

Hicks admission casts doubt on Benitez plans

 

By David Bond

Last Updated: 1:58am GMT 29/01/2008

 

Have your say Read comments

 

Liverpool's American owners have admitted for the first time that the football club will have to finance around £30 million in annual interest payments on new loans taken out to pay for their takeover of Anfield last February.

 

Despite announcing last Friday that only £105m of a new £350m refinancing package was at "club-level", a spokesman for co-chairman Tom Hicks admitted last night that the club would also be responsible for servicing the remaining £245m, which had been placed on the balance sheet of Liverpool's parent company Kop Football (Holdings) Ltd.

 

A spokesman from Financial Dynamics, the City PR company which represents Hicks, said: "The holding company debt is supported by the assets it acquired and should there ever be any shortfall in cash flow at the club or anywhere else in Kop in any given year, Kop's ownership, under the terms of the financing package, is prepared to fund whatever is required.

 

"The debt is being handled exactly as it is handled at the vast majority of professional sports teams."

 

The admission is significant because Liverpool's chief executive Rick Parry and former chairman David Moores, who remains a director, have resisted attempts by Hicks and his co-owner George Gillett Jr to transfer the £220m cost of last February's takeover on to the club's books.

 

They voted against the proposal at a board meeting last autumn and their continued opposition to the move was one of the key factors in slowing the new £350m deal with Royal Bank of Scotland and Wachovia, finally announced last week.

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Under the terms of the new deal, Kop Football said £105m would be placed on the club, including £60m for the start of work on a new 71,000-seat stadium at Stanley Park and a further £45m to cover other club debts, including money for past and future player acquisitions.

 

The remaining £245m was split into two tranches; £60m of so-called existing debt which the Americans say they inherited at the time of their takeover, and £185m, which they say relates to the cost of acquiring their shares in the club.

 

Liverpool sources say they remain comfortable with the £8m-a-year interest fees which are likely to accompany the £105m club debt.

 

But Hicks's admission last night that the whole debt would have to be serviced by the "asset", namely Liverpool Football Club, appeared to confirm that cash flows from Anfield would have to cover the whole interest cost, likely to be in the region of £30m at current market interest rates of eight per cent.

 

There are fears among club insiders and fans that the annual interest costs will wipe out Liverpool's operating profits, which are expected to be in the region of £30m for the financial year ended June 2007, applying a further brake on manager Rafa Benitez's plans in the transfer market.

 

Hicks admission casts doubt on Benitez plans - Football News - Telegraph

[Scouse_Datcha]

We need to get rid of Hicks, he will destroy our club.

[CrouchieBoy]

can't say I am surprised by this admission. I really really really hate this fuck

 

please please please please go away

[RedinSweden]

so basically it doesn't fucking matter whether they put the debt on the club or took it themselves, the club is their asset and will bear the brunt of the costs. Ace news. Glad Hicks is in it for the long haul.

[G Richards]

The whole thing with splitting the debt never pulled the wool over any fans eyes. Who do they think Kop Holdings represents? It was always clear that LFC would have to fund the whole debt, not just the £105M part.

 

This is scandalous, and it needs to come out into the public domain loudly and clearly (and fair play to reds so far who have been speaking out).

 

We are in more debt than we have ever been, and there is a large amount (£200-300M) yet to be found for the new stadium.

 

One can only hope that when Hicks does sell up, the deal has been struck that whatever price he receives for the club (say £300M) he has to clear the debt of Kop Holdings (£245M) with that. We'd still be ripped off, mind, but lining his pockets with £55M to get out of here looks, at this point, to be a (regrettable) price worth paying.

 

I'm also intrigued by Gillett's silence. Is he now out of the loop? Or has a deal been struck behind the scenes with Hicks to let the big Texan bluster his way through the next couple of months, going on the PR offensive with the new stadium and the new loan, but really he is just playing his time out before DIC or DIC/Gillett come to the fore?

[Carra_is_legend]

The whole thing with splitting the debt never pulled the wool over any fans eyes. Who do they think Kop Holdings represents? It was always clear that LFC would have to fund the whole debt, not just the £105M part.

 

This is scandalous, and it needs to come out into the public domain loudly and clearly (and fair play to reds so far who have been speaking out).

 

We are in more debt than we have ever been, and there is a large amount (£200-300M) yet to be found for the new stadium.

 

One can only hope that when Hicks does sell up, the deal has been struck that whatever price he receives for the club (say £300M) he has to clear the debt of Kop Holdings (£245M) with that. We'd still be ripped off, mind, but lining his pockets with £55M to get out of here looks, at this point, to be a (regrettable) price worth paying.

 

I'm also intrigued by Gillett's silence. Is he now out of the loop? Or has a deal been struck behind the scenes with Hicks to let the big Texan bluster his way through the next couple of months, going on the PR offensive with the new stadium and the new loan, but really he is just playing his time out before DIC or DIC/Gillett come to the fore?

 

Correct. The only asset for Kop Holdings is LFC. Regardless of where the debt is placed, we will have to pay the interest. We will pay the interest for £105m which has been placed directly on the club AND pay the interest for the remaining millions indirectly by paying G&H dividends every year. Paying the interest through dividends is even worse because dividends can only be drawn from the profits and any profits will attract corporation tax and any dividends paid out to G&H will attract additional personal tax from the two clowns - meaning, we will have to cough up for all these additional costs too.

[coop]

Dont qualify for the Champs League and we are fucked.

 

Worst case scenario is selling of players to fund debt if we failed to finish in the top four (soon to be top three).

[Scouse_Datcha]

If you are a fotballstar and Rafa asked you to join us now, would you ?

[Dirk]

Dont qualify for the Champs League and we are fucked.

 

Worst case scenario is selling of players to fund debt if we failed to finish in the top four (soon to be top three).

 

It's not. What is going to happen is that the top 3 qualify automatically but the 4th placed team has to play an extra qualifying round.

[coop]

It's not. What is going to happen is that the top 3 qualify automatically but the 4th placed team has to play an extra qualifying round.

 

Cheers Dirk, i sit corrected then.

 

I thought they were making so that the top two qualify as per usual and the third place played a qualifier with fourth place dropping into the UEFA Cup.

 

I thought i had read it where Platini was moaning about nations such as England getting too many places in the Champs Lge and wanted to knock one on the head.

[robslappa]

Cheers Dirk, i sit corrected then.

 

I thought they were making so that the top two qualify as per usual and the third place played a qualifier with fourth place dropping into the UEFA Cup.

 

I thought i had read it where Platini was moaning about nations such as England getting too many places in the Champs Lge and wanted to knock one on the head.

 

 

I can't remember exactly what his plans were, but you're right he wanted to reduce the maximum number from one country to 3 places to give smaller countries more places. That was one of his pledges before he was elected to secure the votes he neeeded to get in.

[redrosetints]

Cheers Dirk, i sit corrected then.

 

I thought they were making so that the top two qualify as per usual and the third place played a qualifier with fourth place dropping into the UEFA Cup.

 

I thought i had read it where Platini was moaning about nations such as England getting too many places in the Champs Lge and wanted to knock one on the head.

 

His original idea was to reduce the places allocated through the league. He wanted the Top 3 through and the winners of the FA cup, to try and break the stranglehold of the big4. A great a noble ambition, until you see that the winners of the fa cup for the last 12 years have been Arsenal, Chelsea, Liverpool and United. In the event of the Cup winner already qualifying by league position, then the fourth place side would enter in the qualifying rounds. ie The status quo is maintained.

 

Once he realised nothing would change, he knocked it on t he head (or to the sceptics, once he'd won election he shut up and is now part of the establishment).

[aws]

Cheers Dirk, i sit corrected then.

 

I thought they were making so that the top two qualify as per usual and the third place played a qualifier with fourth place dropping into the UEFA Cup.

 

I thought i had read it where Platini was moaning about nations such as England getting too many places in the Champs Lge and wanted to knock one on the head.

 

I think he's also got a cunning plan whereby the third and fourth placed sides have to play similar from Italy and spain rather than the unseeded clubs.

[Mr.SB]

Dubai or not Dubai?

 

I wonder if anyone else got that.

[aws]

I wonder if anyone else got that.

 

That is the question.

[kop]

so basically it doesn't fucking matter whether they put the debt on the club or took it themselves, the club is their asset and will bear the brunt of the costs. Ace news. Glad Hicks is in it for the long haul.

 

It never did matter. No one thought they would hand out alms did they? LFC was always going to pay for everything, it's the very reason they've bought us (and will be if/when D.I.C buys us aswell).

 

The only consolation is that they can't afford for us to fall outside the CL.

[Rashid]

The reason they put all those players on big contracts is to ensure that if required they could sell them for big fees.

[Mr T]

Not seen that little clip before. It's disgusting that David Moores thought the Yanks would be a better bet.

[JustTosh]

The reason they put all those players on big contracts is to ensure that if required they could sell them for big fees.

 

Unless of course that's their plan anyway.

[WeAreTheBest]

Reds will pay £30m a year interest Jan 29 2008

 

by Tony Barrett, Liverpool Echo

 

LIVERPOOL Football Club will have to come up with around £30m a year to pay the interest on loans taken out by its American owners.

 

In an astonishing announcement that confirms the worst fears of many Reds fans, a spokesman for Tom Hicks admitted for the first time that the club will be responsible for servicing the £350m loan package.

 

The loan taken out with the Royal Bank of Scotland and Wachovia was divided in two. with £105m being loaded onto the club’s book, and the remaining £245m going on to

 

the books of Kop Holdings, the parent company set up by Hicks and George Gillett when they bought Liverpool last February.

 

But today’s bombshell news that it is the club, and not Hicks and Gillett, which will have to meet interest payments on both sections of the loan will put huge financial pressure on Liverpool to qualify for the lucrative Champions League every season.

 

A spokesman from Financial Dynamics, the City PR company representing Hicks, said: “The holding company debt is supported by the assets it acquired and should there ever be any shortfall in cash flow at the club or anywhere else in Kop in any given year, Kop’s ownership, under the terms of the financing package, is prepared to fund whatever is required.

 

“The debt is being handled exactly as it is handled at the vast majority of professional sports teams.”

 

John Mackin, of fans group Reclaim The Kop, admitted he now feared for the future of the club if Hicks and Gillett remain as owners.

 

He said: “We are looking at a level of debt, or the interest payments at the very least, which could sink the club if we have a couple of bad seasons.

 

“I’m just hoping that this admission by Hicks is part of an exit strategy which would allow him to sell the club because of the outrage this announcement will cause.

 

“A meeting has been called for Liverpool fans at the Sandon pub on Thursday night, and I’ve got no doubt that these interest payments will be one of the main talking points.”

 

Anfield sources today indicated that Liverpool chief executive Rick Parry and life president David Moores would continue their opposition to the club having to make any interest payments on the acquisition debt.

 

But such opposition could ultimately lead to the pair being removed from the club’s board.

[RedinSweden]

I am not a fan of all this dubai ass kissing, but G&H need to go.

[Guest Kenny]

All the signs are that these guys will be here for a long time.

[RedKnight]

I am not a fan of all this dubai ass kissing, but G&H need to go.

 

Agree 93%.