Gillett and Hicks (ownership saga)

[coop]

See, that i don't get. They're going to have to build a whole team at City, paying huge fees for players reluctant to join a small club and pay way over the odds in wages. Its gonna cost them big.

 

How much did they pay for Man City, £200-250 million.

 

They do not need to build a new stadium as they have a long term lease from Manchester Council for theres.

 

If they were to buy Liverpool it would currently cost them around £500 million plus then the additional cost of a new stadium, around £300 million.

 

Looking at it that way mate you can see why they said we were too expensive.

[Royal Family]

A small point, but didn't H+G only offer a 25% stake to Abu Dhabi, not the whole club?

[Guest Ulysses Everett McGill]

A small point, but didn't H+G only offer a 25% stake to Abu Dhabi, not the whole club?

 

Don't think it was ever made clear, and probably never will.

 

But a last minute mercy dash to the Emirate on the eve of the City deal would paint a rather different picture.

[ratcatcher]

Let me get this straight; some of the informed posters claim its an open secret the club is up for sale but apparently the kuwaiti's arent interested in a full buy out?

 

Im confused!!

[Section_31]

I see another DIC thread in the offing.

 

* runs away quickly

[1892-LFCWasBorn]

Saturday, January 24, 2009

 

Liverpool owners face loss

 

MATT SCOTT and ANDY HUNTER

 

TOM HICKS and George Gillett will have to settle for €117 million less than they would have received last July if the second attempt to sell Liverpool to Nasser al-Kharafi, the Kuwaiti billionaire, succeeds. The American owners would, however, make a profit of around €32 millon each on the price they paid to buy the club in February 2007.

 

Al-Kharafi approached the American co-owners last year with a view to buying Liverpool for €640 million, only to withdraw from negotiations with the contracts all but signed. Hicks is said by one close observer to have been “incandescent” at the failure to close that deal.

 

Al-Kharafi has now returned to the table but on vastly different terms, with his position strengthened by the Kuwaiti dinar – worth 269c compared to 201c last July – and with Hicks and Gillett under pressure to refinance their takeover of Liverpool.

 

They must sell their 50 per cent stakes in the club before July, when the club’s €372 million loans with RBS and Wachovia are due for repayment, and it appears unlikely that any bank will continue to support the Americans’ highly leveraged operation.

 

Neither Hicks nor Gillett is believed to have invested any cash in their purchase of Liverpool and, with the pair’s relationship strained once more, that is unlikely to change. The pair have employed rival banks to attract new investors to Liverpool.

 

Al-Kharafi is expected to take advantage of the immovable July deadline faced by the Americans with a reduced offer in the region of €425 million, although it is understood that no price has yet been agreed. Alongside the fall in the purchase price, the collapse in the value of the pound against the dollar means the profit Hicks and Gillett are expected to make for selling Liverpool will in dollar terms be slashed to around $40 million each.

 

Hicks refused to comment on claims that he is looking to sell his 50 per cent stake last night but it is understood he wants to retain an interest in Liverpool as the club attempts to move into a new stadium that will increase its market value.

 

A full sale cannot be discounted, however, although the continued friction between the owners is likely to complicate any deal. Neither Hicks or Gillett, it is believed, wants to sell up entirely if their business partner maintains a stake in Liverpool.

 

Liverpool’s finance director, Phil Nash, met representatives of the Al-Kharafi family last week, although sources have claimed discussions related to financing the new stadium on Stanley Park.

 

Liverpool supporters opposed to the Americans reacted with caution to the possible Kuwaiti takeover. A statement from the Spirit of Shankly group read: “It is worth considering that all new owners are not always those worthy of holding the ‘family silver’, so we need to be sure that any new owners do not place us in the same situation as the current ones.”

 

Manager Rafael Benitez claimed to be unaware of a potential takeover. “I was really surprised with the news this morning but I cannot say anything,” the manager said. “I cannot comment on these things because we have an important game against Everton coming up.”

 

Benitez also insisted he was not concerned at Steven Gerrard’s next court appearance, his captain having pleaded not guilty to a charge of assault and affray yesterday, having an impact on the club. Gerrard is due back in court on March 20th, the day before a home game with Aston Villa and following dates with Manchester United and Real Madrid. “If the player continues playing well I don’t see any problem. I don’t think he has been affected.”

 

Liverpool owners face loss - The Irish Times - Sat, Jan 24, 2009

[PaulMcC]

'Clock is ticking' for Liverpool owners | | Give Me Football

 

Moves to sell Liverpool to one of Kuwait's richest families have been prompted by the need of the club's American owners to find a buyer by July.

 

That is when the £350million loans owners Tom Hicks and George Gillett have from when they bought the club two years ago must be refinanced and it is understood they have been made aware that the Royal Bank of Scotland will not refinance the original loan in the summer.

 

That loan was extended for six months at the beginning of the year, but a source close to the deal said: "Hicks has been told time is running out, the clock is ticking."

 

It has emerged that Hicks sanctioned talks this week with the Al-Kharafi family, initially over funding for the club's new stadium but then for a possible £500million takeover.

 

Gillett is thought to have been initially unaware of the talks, held with the club's commercial director Ian Ayre and financial director Phillip Nash.

 

Gillett, who wanted to sell to Dubai international capital last season only to be thwarted by Hicks, is understood not to be planning to block this current move in retaliation.

 

The Americans know they must find a buyer or a new financial arrangement with another bank, or see RBS take control themselves.

 

In the current climate no other bank is likely to be interested, while RBS's involvement in control of Liverpool would also put the Government in a difficult decision considering they now own a majority stake.

 

The source added: "Hicks has been trying to sell his assets, and that is believed to include Texas Rangers, while Gillett has cut back on his NASCAR involvement.

 

"Liverpool was almost sold to the Al-Kharafi family in November, it only needed a signature, but they walked away. Hicks is believed to have been furious."

 

Copyright © PA Sport 2009, All Rights Reserved.

[Guest Ulysses Everett McGill]

Let me get this straight; some of the informed posters claim its an open secret the club is up for sale but apparently the kuwaiti's arent interested in a full buy out?

 

Im confused!!

 

I'm not claiming anything mate

[Rex Banner]

Imminent

[Al Campbell]

Kuwaitis have completed due diligence on Liverpool FC

 

THE Kuwaiti family currently in the running to buy into Liverpool FC has already done due diligence on the club’s finances, sources have revealed.

 

The Al-Kharafi family, whose £8bn fortune is based on construction and a number of holdings in the banking, fast food and tourism sectors, pulled out of a previous deal just before it was due to be signed in November, the Daily Post understands.

 

That means much of the background work has already been done, which could help speed up any sale.

 

Conflicting accounts emerged yesterday over whether a full sale of the club at a figure around £500m, or just a partial sale, was being discussed, while a rival European suitor is also understood to be in the mix.

 

Last night, the Spirit Of Shankly, the Liverpool FC supporters union, said any sale of the club should only be to “fit and proper owners, true custodians who would look after the values and traditions of our club, and treat it with the respect it deserves”.

 

LFC’s American co-owners Tom Hicks and George Gillett have appointed rival banks to try to find potential buyers – Merrill Lynch are working for Hicks, while Gillett has appointed Rothschilds.

 

The Daily Post understands that, although Hicks and Gillett have separate advisors, the pair are working “hand in hand”.

 

Philip Nash, the club’s financial director, has already travelled to the Middle East, and is understood to be holding discussions aimed at reducing the club’s debt in the first instance.

 

The Al-Kharafi family had previously been involved in talks to buy Newcastle.

 

They are led by two brothers, Nasser and Jassem, but the planned purchase of Liverpool is likely to be a project overseen by one of their sons.

 

And it has also emerged that Nasser claims to be a Liverpool fan.

 

He attended Liverpool College of Commerce before graduating with a Bachelor of the Arts degree in business administration.

 

Hicks and Gillett both now plan to attend the home game with Chelsea on February 1 when their objectives will be clearer, and they are also likely to try to revive contract negotiations with manager Rafael Benitez.

 

“There is definitely some activity going on, but where it is up to now is anyone’s guess,” said a club source.

 

Last night, Hicks declined to comment.

 

Gillett wanted to sell to Dubai International Capital last season, only to be thwarted by Hicks.

 

In the 50-50 partnership, both sides must agree on a deal to sell, and it is understood the pair have agreed to sell on the same terms.

 

The impetus to sell increases by the day, as the pair’s current re-financing loan of £350m with Royal Bank of Scotland, taken out when they bought the club two years ago, expires in July.

 

That loan was extended for six months at the beginning of the year, and the chances of negotiating a new loan are thought to be remote, but not totally out of the question.

 

(from today's Daily Post)

[Anubis]

Tuesday!

[Spy Bee]

Kuwait? No, I'm in a hurry!

[JMARKH]

A rival European investor? don't like the sound of that, the arabs are richer than the Europeans in general so the Europeans can fuck off unless they have more money, last time we were about to sell to DIC and got gazumped by them clowns so I wouldn't want the same thing to happen again.

[Swagger]

Tuesday!

 

You know anything, mate?

[bigal]

Oliver Kay in The Times has changed his report from the printed version to what's on the website this morning. In the paper he says the negotiations were for the club and also that there are other interested parties in America. The website says the talks were originally for the stadium but may now be for the club, that Gillett may go first and Hicks may then consider going

Kuwaitis line up £500m bid for Liverpool | Liverpool - Times Online

[Dougie Do'ins]

Oliver Kay in The Times has changed his report from the printed version to what's on the website this morning. In the paper he says the negotiations were for the club and also that there are other interested parties in America. The website says the talks were originally for the stadium but may now be for the club, that Gillett may go first and Hicks may then consider going Kuwaitis line up £500m bid for Liverpool | Liverpool - Times Online

Absolutely no chance of that happening. Its both or none.

[RedKnight]

You know anything, mate?

 

It's an old joke.

[Torvald Utne]

A rival European investor? don't like the sound of that, the arabs are richer than the Europeans in general so the Europeans can fuck off unless they have more money, last time we were about to sell to DIC and got gazumped by them clowns so I wouldn't want the same thing to happen again.

 

:wow:

[Torvald Utne]

A rival European investor? don't like the sound of that, the arabs are richer than the Europeans in general so the Europeans can fuck off unless they have more money, last time we were about to sell to DIC and got gazumped by them clowns so I wouldn't want the same thing to happen again.

 

cross reference with...

 

http://www.liverpoolway.co.uk/forum/ff-football-forum/73812-would-you-ever-stop-supporting-liverpool.html

[rebel23]

you have to wonder what kind of owners the arabs would be, if they would be hands off and worry about getting a stadium built or if they will fire Benitez and interfere on the football side. there's a possibility they will be a bit numptyish like the Abu Dhabi lot at City

[Section_31]

you have to wonder what kind of owners the arabs would be, if they would be hands off and worry about getting a stadium built or if they will fire Benitez and interfere on the football side. there's a possibility they will be a bit numptyish like the Abu Dhabi lot at City

 

He's a good local lad done good, I wouldn't worry.

[satmann]

So the Facts are....

 

Hicks as not got money to buy Gillete out or he would have by now.

 

Hicks as got enough money to buy 1% from Gillete.

 

They cannot get any minority investor on board. No one wants to buy 49%and give 1% to hicks as the 49% is worth nothing. Of gilletes holding.

 

Hicks PR agency leaked the story.

 

Hicks would like to keep a minority stake and place on board but thats why the Kuwait group pulled out at the last minute when he said this.

 

They want to sell but want 100 million each.

 

RBS have told them to sell before july.

 

There are buyers who would only buy the club at the right price.

 

Hicks statement about Rafa just to show good image.

 

They have hired two banks to find buyers. Proves what a pair kids these 2 are. All this money comes from the club. Hopefully this will show future business partners not to conduct busines with these 2 muppets.

[Rex Banner]

So the Facts are....

 

Hicks as not got money to buy Gillete out or he would have by now.

 

Hicks as got enough money to buy 1% from Gillete.

 

 

Another fact is your H key doesn't work

[satmann]

Another fact is your H key doesn't work

 

My K key does work though. KNOB!!

[Rex Banner]

My K key does work though. KNOB!!

 

That's good but you really need all of them to work, except maybe z I could see how you could live without it.