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Antynwa

Gillett and Hicks (ownership saga)

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We are the only team in the top four like you mention Paul who are no way realising their earning potential and once we do I agree we could be number one in terms of finance.

 

They all have ground well over 70,000 and we dont.

 

Parry and Moores must be the two biggest idiots in the world, they could of maximised this earning potential years ago.

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Neither owner wants to lose us as we are both of thems best investment as people have already put we are criminally under-marketed although Ayres is trying to change that.

 

Contary to what people think it isn't just a case of snapping your fingers and the bank will lend you the money for the stadium due to naming rights and future profits otherwise the owners would have currently done this.

 

Its pretty clear both owners would sell and it seems to be for about £500 million but for obvious reasons they can not appear desperate to sell and the fact they are selling off parts of their other investments so they can pay back the refinance means they are not open to low offers which are sure to come their way.

 

All the above is allegedly and purely my own opinion of course.

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These cunts will do everything in their power to stay involved with us for the very simple reason that they got us for an absolute steal - and that's even before you consider the fact that they actually didn't invest anything to do so. I said at the time and still say now that we are dramatically undervalued relative to our potential.

 

We are one of the top four names in world football along with The Mancs, Barca and Madrid which in itself is priceless as there's a world-wide fan base to exploit. Unlike other big names however, we have a history and tradition of success that makes that brand infinitely better established -and therefore more lucrative - than nouveau upstarts like Chelsea who, in the short term, are doing better at exploiting their potential than we are. We also have a huge, untapped demand for tickets at home, making a new stadium a potential cash cow and are the closest we've been in twenty years to putting the bread and butter trophy, which would state that we were unequivocally back among the big boys, back on the table.

 

I reckon a medium to long term owner could make serious money even with as much as a £1bn investment in the club. A new stadium and a handful of new players would bring future revenues pouring in like almost nowhere else. We definitely have the potential to be the biggest club in the world financially speaking, and the cunts who own us know that - as their scramble to realise other assets shows. Let's just hope that they're forced out and we get someone more palatable in in their place. I tell you what though, if I was in their shoes, I'd fight tooth and nail to stay involved.

 

 

Is 100% correct.

 

The fact that in a world where equity prices have almost halved, our price has actually gone up, shows how cheap we were before.

 

From that though, it shows that DM was thick as shit, not money-grabbing in selling.

If he had a brain, he would have developed us himself.

It also shows how shit DIC were in being outnegotiated for £10m & a new Ferrari for Coco & therefore losing a deal worth £100m's.

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I reckon RBS may well extend for another year in return for a big arrangement fee, a hike in the interest rate and a few more guarantees. They'd probably prefer their cash back but won't be too keen on a high profile foreclosure.

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Greed, because they were confident of getting more but Dubai walked away.

 

Would i be right in thinking that if the owners fail to pay back the £350 million loan they have and therefore default on it does this then mean that the current owners would lose their guarantees as well.

 

Theres no way that they will default on it. As surely in the worst case scenerio they would just take money from the club to pay any interest.

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I reckon RBS may well extend for another year in return for a big arrangement fee, a hike in the interest rate and a few more guarantees. They'd probably prefer their cash back but won't be too keen on a high profile foreclosure.

 

 

 

After the latest Sky deal I am pretty certain this is exactly what tehy'll do.

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After the latest Sky deal I am pretty certain this is exactly what tehy'll do.

 

Aye. Good point about the Sky deal. Now that we have tied up Rafa in a long term deal, we are stable for the next few years - atleast in terms of qualifying for CL football over the next couple of seasons. That combined with the new Sky deal means it is very much possible for RBS to give another 12/18/24 months extension.

 

As AWS pointed out, interest may be higher, they may look for more quarantees along with a huge "application" fee but as far the cunts are concerned, what the hell when the club is paying for it.

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Guest Kenny

Tom Hicks’ Sports Group Defaults On $525 Million In Loans

April 3, 2009

Tom HicksPrivate equity legend Tom Hicks’ sports team holding company has defaulted on more than $500 million in loans, a source has told FINalternatives.

 

Hicks Sports Group, which owns baseball’s Texas Rangers and hockey’s Dallas Stars, failed to make its interest payment on $525 million in syndicated bank loans on Monday. The group is now in talks with its lenders about a forbearance.

 

Hicks made his billions on leveraged buyouts, founding private equity firm Hicks Muse Tate & Furst, now HM Capital, in 1989. He retired from the firm in 2006.

 

According to the source, who has seen documents relating to the loans, Hicks defaulted on a $350 million bank term loan, $100 million second-lien loan and a $75 million revolving credit facility. A spokesman for Hicks Sports declined to comment.

 

Hicks also owns a 50% stake in the English Premier League’s Liverpool Football Club, but through a separate entity. According to the source, the loans are partially secured by the Rangers and Stars, but not by Hicks’ stake in Liverpool or his personal assets.

 

Last week, Major League Baseball’s Web site reported that Hicks had hired Merrill Lynch to explore the sale of a minority stake—of up to 49%—in the Rangers, which Hicks bought in 1998 from an ownership group that included former President George W. Bush. Bush, a longtime friend of Hicks, is scheduled to throw out the ceremonial first pitch at his former team’s home opener in Arlington, Texas, on Monday.

 

According to MLB.com, Hicks is also trying to sell a minority stake in the Stars. It is unclear whether the proposed stake sales, which reportedly can be either in whole or in part, are related to the default. Hicks’ Liverpool co-owner, George Gillett, is trying to sell his Montreal Canadiens hockey team and his Liverpool stake. Hicks and Gillett have reportedly had a falling out over the soccer club, with the former blocking the latter’s attempt to sell most of his stake last year.

 

The Hicks default is the most dramatic manifestation of the current economic crisis on the sports world. In February, the National Basketball Association borrowed $175 million—on top of its existing $1.7 billion credit facility—making it available to 15 teams having trouble making ends meet.

 

Tom Hicks’ Sports Group Defaults On $525 Million In Loans | FINalternatives

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Tom Hicks’ Sports Group Defaults On $525 Million In Loans

 

I'm gutted for him. Really. No, really..... :whistle:

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Rangers/Stars Owner Tom Hicks: “We Want The Banks To Be Reasonable”

Posted on April 3rd, 2009 10:10am by Evan Grant

Filed under Bullpen, Dallas Stars, Sports business, Texas Rangers

 

Rangers/Stars owner Tom Hicks said he is asking bank lenders “to be reasonable” regarding the interest payment on more than $500 million in loans relating to the two clubs and the assets of Hicks Sports Group.

 

Before we go any further, we should probably explain to our British friends that Liverpool Football Club is not among the HSG holdings and neither are any of Hicks’ other business interests.

 

An interest payment was due on March 31, but Hicks said Friday that HSG had elected not to make the payment. HSG is in the process of trying to negotiate with the 40 lenders to allow it to make the interest payment out of the interest reserve provision. Hicks must get approval from the banks that hold 51 percent of the loans to approve such a deal.

 

The banks, however, could place the loans in default early next week if a re-negotiation in terms is not reached.

 

“We’re optimistic that a satisfactory resolution will come together in the next couple of weeks with our lenders’ cooperation,” Hicks said by phone Friday morning. “The important thing is that none of this impacts either team or the fan experience at either venue. We’re prepared to fund the operations of both clubs for the next 12 months while we continue to seek additional investors.”

 

Hicks announced last week that he was seeking to sell up to 49 percent of both the Rangers and Stars. Such a sale could add between $400-500 million in cash to the HSG reserves.

 

A financial website, citing unnamed sources, reported Friday morning that Hicks defaulted on a $350 million bank term loan, $100 million second-lien loan and a $75 million revolving credit facility.

 

“We just would like the banks to be reasonable and hope they will go along with our proposal,” Hicks said. “We’ve built two great teams, one with a great future and one that has been the most profitable and successful NHL franchise in the southern United States. We’ve built a great arena that is Dallas’ version of Carnegie Hall and Madison Square Garden all rolled into one. This is a short-term issue about a lot of long-term value.”

 

Dallas Sports: Dallas Cowboys Texas Rangers Mavericks Stars InsideCorner Blog D Magazine » Blog Archive » Rangers/Stars Owner Tom Hicks: “We Want The Banks To Be Reasonable”

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We are the only team in the top four like you mention Paul who are no way realising their earning potential and once we do I agree we could be number one in terms of finance.

 

They all have ground well over 70,000 and we dont.

 

Parry and Moores must be the two biggest idiots in the world, they could of maximised this earning potential years ago.

 

Its all down to Moores really, the guy is a fucking retard.

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Rangers/Stars Owner Tom Hicks: “We Want The Banks To Be Reasonable”

Posted on April 3rd, 2009 10:10am by Evan Grant

Filed under Bullpen, Dallas Stars, Sports business, Texas Rangers

 

Rangers/Stars owner Tom Hicks said he is asking bank lenders “to be reasonable” regarding the interest payment on more than $500 million in loans relating to the two clubs and the assets of Hicks Sports Group.

 

Before we go any further, we should probably explain to our British friends that Liverpool Football Club is not among the HSG holdings and neither are any of Hicks’ other business interests.

 

 

For me the bit in bold is what you should be paying attention to.

 

Hicks has/will default on a loan of over $500 million and that has nothing to do with Liverpool.

 

Another words he is struggling to meet the demands of a $500 million loan and he still has to find the money for the refinance in July of Liverpool where his half will be £175 million whilst Gillett who is in a worse financial state then Hicks also has to find his half of the £350 million loan.

 

New stadium, hell yeah lets get that sucker built.

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Do you knwo what, if we win the league it could actually be a very bad thing as far as these cunts are concerned.

If we do then I think they won't even sell.

 

Anmy title league win would be horribly tainted by that thought.

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For me the bit in bold is what you should be paying attention to.

 

Hicks has/will default on a loan of over $500 million and that has nothing to do with Liverpool.

 

Another words he is struggling to meet the demands of a $500 million loan and he still has to find the money for the refinance in July of Liverpool where his half will be £175 million whilst Gillett who is in a worse financial state then Hicks also has to find his half of the £350 million loan.

 

New stadium, hell yeah lets get that sucker built.

 

Doddle.

 

Only a mere £175 million.

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He can try spinning it and mixing it on par with Flavour flav and Sir Mixalot and the only thing the Banks will see (especially RBS) is "$500M default".

The media and the government would hang them by their balls if they gave them the money now.

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We are the only team in the top four like you mention Paul who are no way realising their earning potential and once we do I agree we could be number one in terms of finance.

 

They all have ground well over 70,000 and we dont.

 

Parry and Moores must be the two biggest idiots in the world, they could of maximised this earning potential years ago.

 

Sorry, don't know if anyone has answered this as I can never get into the last page when a thread goes ballistic.

 

But, other than the mancs, who has 70,000 capacity? The Arse is 60,000 and the chavs around 43,000?

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Do you knwo what, if we win the league it could actually be a very bad thing as far as these cunts are concerned.

If we do then I think they won't even sell.

 

Anmy title league win would be horribly tainted by that thought.

 

Your avatar! That's umpossible!

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For me the bit in bold is what you should be paying attention to.

 

Hicks has/will default on a loan of over $500 million and that has nothing to do with Liverpool.

 

Another words he is struggling to meet the demands of a $500 million loan and he still has to find the money for the refinance in July of Liverpool where his half will be £175 million whilst Gillett who is in a worse financial state then Hicks also has to find his half of the £350 million loan.

 

New stadium, hell yeah lets get that sucker built.

 

 

In addition to the Rangers and Stars, HSG is also the holding company for Liverpool FC, the American Airlines Center, Hicks Sports Marketing Group and the Mesquite Rodeo. Only days ago, Hicks acknowledged that he was indeed looking to sell off pieces of the Rangers and Stars -- anywhere from 40 to 49 percent of his ownership stake. Said Hicks last week, "I've been quietly looking for minority investors to come back into the ownership of the Rangers as a way to be prudent in a bad economy."

 

Dallas - Unfair Park - Report: Hicks Sports Group Defaulted on $525 Mil in Rangers- and Stars-Related Loans

 

our logo appears on the front page of HSG website, but the write-up has been removed, Hicks Holdings website is down..

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Apologies if its been posted elsewhere, but more of the same in the Guardian :

 

Liverpool's co-owner Tom Hicks defaults on US$525m loans

 

• Hicks Sports Group missed interest payments on three deals

• Liverpool owner plays down possibility of banks owning teams

 

* Matt Scott

* guardian.co.uk, Friday 3 April 2009 21.39 BST

 

Tom Hicks's US sports investment-vehicle has defaulted on loans amounting to US$525m (£354m). The news emerges less than four months before he and his Liverpool co-owner, George Gillett, must refinance a £350.5m loan for the Premier League club with two separate banks.

 

The Hicks Sports Group (HSG) has missed monthly interest payments on three separate loans, one of US$350m, another of US$100m and a third of US$75m. Hicks has sought to reassure the media in Texas that his search for investors in his US baseball and ice hockey franchises, the Texas Rangers and Dallas Stars, would succeed to the satisfaction of his lenders, of whom there are 40.

 

"There is no possibility of banks owning the teams," Hicks wrote in an email to the Fort Worth Star-Telegram. "I am working closely with both leagues to find quality partners that share my long-term vision of building these two great franchises. I will continue to fund the teams' operations. I am the largest creditor to HSG and need 51% of the banks to agree with my plan."

 

Hicks's investment in Liverpool is held through a separate entity, Kop Investment LLC, which is the parent of the UK-based Kop Holdings, Liverpool's sole shareholder. However there is likely to be an impact on Hicks's interests at Anfield since he is also engaged in an odyssey to attract investors to the club. So far Hicks's attempts to woo backing from the Middle East has faltered; the news is therefore particularly untimely.

 

It will also have the damaging effect of shaking the confidence of Kop Holdings' two lenders, Royal Bank of Scotland, around 70% owned by the UK government, and the US finance house Wachovia. The club's £350.5m loan is not only secured against its own assets but also through letters of credit and personal guarantees from Hicks and Gillett, amounting to £185m.

 

Any sense that either of them is suffering serious money troubles is likely to spook the banks, causing major complications for their upcoming talks.

 

The Guardian's call last night to Hicks Sports Group was not returned.

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