Barclays Capital Appointed to Find a Purchaser for the Club

[redsfan]

There has been too many false dawns but you hear of this and cant help but feel optimistic in hoping we will finally see an outcome. God I seriously must have a heart problem after so many twists, turns, false dawns, opportunities and let downs.

 

Mind you think we have all been like that.

[spider-neil]

Now that is interesting any chance of Barclays approaching middle eastern investors for liverpool :yes:

 

that's what I thought when I read that headline.

 

I will also add I know loads of fans are looking for a rich arab to buy world class players left and right, personally all I care about is the debt removed and the stadium built after that the owners can milk the club all they like.

[zigackly]

There has been too many false dawns but you hear of this and cant help but feel optimistic in hoping we will finally see an outcome.

 

[redsfan]

that's what I thought when I read that headline.

 

I will also add I know loads of fans are looking for a rich arab to buy world class players left and right, personally all I care about is the debt removed and the stadium built after that the owners can milk the club all they like.

 

Spot on! Thats were we need to start firstly if and when we get new owners, then we need to look on the pitch and sort ourselves out there. One step at a time.

[Springer]

There has been too many false dawns but you hear of this and cant help but feel optimistic in hoping we will finally see an outcome. God I seriously must have a heart problem after so many twists, turns, false dawns, opportunities and let downs.

 

Mind you think we have all been like that.

 

 

What haven`t been talked so much about is G&H own brand. With the worldwide support of LFC, this saga must have caused them some serious harm. Gillett & Hicks will forever be remebered by millions of LFC fans as the yanks that almost broke the spine of the club. Can`t be good for their business elsewhere. Surely LFC supporters around the world will avoid buying their products.

[zigackly]

What haven`t been talked so much about is G&H own brand. With the worldwide support of LFC, this saga must have caused them some serious harm. Gillett & Hicks will forever be remebered by millions of LFC fans as the yanks that almost broke the spine of the club. Can`t be good for their business elsewhere. Surely LFC supporters around the world will avoid buying their products.

 

They don't have any products. And virtually every business they have owned has ended in disaster. They will find more gullible idiots like Moores and Parry somewhere else, never fear.

[TheHitman]

So basically Hicks and Gillette have re mortgaged and we now have 300million pounds of debt. It's like me or you at the end of our fixed mortgage changing from RBS to Barclays and getting some extra money to tart up the house. But in their case siphon it off via drip drip things that would make the greediest mp from the expenses scandal blush with measures he couldn't dream up.

 

Oh just one HUGE difference instead of showing Barclays pay slips like a regular joe who gets a mortgage they just show the loyalty of the fans as their guarantee of future payment. It sucks being a football fan no wonder the word fan is an abbreviation of fanatical.

[Horus]

What haven`t been talked so much about is G&H own brand. With the worldwide support of LFC, this saga must have caused them some serious harm. Gillett & Hicks will forever be remebered by millions of LFC fans as the yanks that almost broke the spine of the club. Can`t be good for their business elsewhere. Surely LFC supporters around the world will avoid buying their products.

 

Their product is debt though, so there's nothing really tangible to buy.

 

My own take, is that if this was a short term move then it wouldn't have been dealt with like this. All that needed to happen was that Barclays provide a credit note to RBS saying "don't worry - we've got this. We are dealing with an imminent sale and we will guarantee anything they owe until this is done. We anticipate a 2-3 month turn around"

 

Instead, they've loaded more debt on to the club (higer interest payments to line their own pockets), and have become almost a partner. This in no way whatsoever looks anything like a short-term agreement.

 

They loaded us with £350m of debt in 07/08. We've had re-finance after re-finance, no transfer kitty's, money taken from the stadium fund that has gone up in smoke, and we've brought that figure down to £300m in 2/3 years.

 

It really bothers me that he's a Chelsea season ticket holder, too. His job is to find a buyer willing to spend a certain price, he's not interested what that buyer does with us after that, and whether the new owner loads us up with the purchase debt. He won't be picking the owner that will do the best by us, he's doing the best by the person that will cross their greasy palms with the most silver.

 

It's complete divide and conquer by the owners here. They take themselves out the firing line by appearing to do what the fans want, but in doing so, they got every single dollar back and they are now looking for a £150m profit.......each, for fucking ruining us.

 

If I had a terminal disease, I'd get all "Saw" on their fat cat asses. Fucking hell, I seriously wish them a slow and painful death.

[esoteric]

Might be pie in the sky, and I'm particularly naive when it comes to financial matters, but there are 2 things I'm hoping for from this:

 

1. Potential buyers that Hicks and Gillett have pissed off in the past may be encouraged back to the table.

 

2. Barclays will not reject any sensible offer, or scupper possible deals with the dire duo's unrealistic demands.

 

I think they are trying to bring £500m back to the table but it wouldn't surprise me if they didn't cut a deal for £420m with an Indian or Arabian owner during the close season.

[redsfan]

Might be pie in the sky, and I'm particularly naive when it comes to financial matters, but there are 2 things I'm hoping for from this:

 

1. Potential buyers that Hicks and Gillett have pissed off in the past may be encouraged back to the table.

 

2. Barclays will not reject any sensible offer, or scupper possible deals with the dire duo's unrealistic demands.

 

I think they are trying to bring £500m back to the table but it wouldn't surprise me if they didn't cut a deal for £420m with an Indian or Arabian owner during the close season.

 

I have been thinking something similar you know, maybe I am naive and a simpleton but what are the chances that this deal has been made to look like Hicks and Gillett are 'okay' for the time being. For all we know Barclays could have all types of conditions on Hicks and Gillett and that basically Barclays have agreed this deal but on conditions which mean they have to sell. Maybe again I am being far to optimistic.

 

Basically i have not got a friggon clue what is going on now.

[StevieH]

".....It is understood lender Royal Bank of Scotland will continue to be involved with the club, despite reports that Barclays would move to replace existing banks RBS and US firm Wachovia."

 

The Press Association: Liverpool FC hires Barclays bank

[zigackly]

Wish someone would just tell us WTF is going on.

[piscinin]

".....It is understood lender Royal Bank of Scotland will continue to be involved with the club, despite reports that Barclays would move to replace existing banks RBS and US firm Wachovia."

 

The Press Association: Liverpool FC hires Barclays bank

 

Sounds like RBS continues as our business bank and it's just the purchase debt being moved. No great surprise really.

[stringvest]

That would seem to point to Purslow's continuing involvement. Let's hope he and Broughton don't get distracted by a pissing competition. I'm quietly optimistic about this.

[Kopite Pete]

Liverpool co-owners playing for extra time

 

Dan Roan

Sunday, 11 April 2010

 

Martin Broughton has had quite a weekend.

 

On Friday the horse the British Airways chairman co-owns, Ringaroses, won the 4.55 at Aintree.

 

On Saturday his beloved Chelsea FC reached the FA Cup Final at Wembley with victory over Aston Villa.

 

Now, the former British Horseracing Authority chief seems set to be installed as the new chairman of Liverpool FC.

 

I understand Broughton has been approached by the club, and is considering forming part of a restructured board with a view to finding new investors.

 

In recent weeks Broughton has had to contend with the bitter industrial dispute with the BA cabin crew union, Unite. Ideal preparation perhaps for the infamously-divided Anfield boardroom.

 

But what does his possible arrival, and the further appointment of Barclays Capital, the bank's investment arm, mean in terms of the future of the club?

 

On the one hand it appears to buy co-owners Tom Hicks and George Gillett, yet more time.

 

The Americans have built up a £237m debt at Anfield since taking over the club in 2007, and their principal creditor, RBS, has requested that the loan is reduced by £100m by this summer.

 

Managing director Christian Purslow, along with two different banks - Merrill Lynch (Hicks' choice) and Rothschilds (Gillett's bank), have been searching for months to find new investment without success.

 

Fresh capital is desperately needed to extend the debt with RBS, make money available for manager Rafa Benitez in the transfer market, and enable more loans to help pay for a much-needed new stadium.

 

Last week, Hicks and Gillett rejected a £100m offer for a controlling 40% stake in the club by the Rhone Group, to the dismay of Benitez.

 

The package would have reduced the stakes of both owners and Gillett to just 30% each in return for nothing, hence their refusal to do business.

 

Now Broughton and Barclays, the sponsors of the Premier League, will take over the effort, with the owners hoping a more streamlined, united front will help lure potential interest.

 

Barclays may even provide a cash injection themselves and replace RBS, but some are sceptical. One well-placed source close to the negotiations told me: "This defies belief and is an act of desperation. Hicks and Gillett are clutching at straws. It just means more delay, more interest repayments, and more fees spent on bankers."

 

A City insider said: "Broughton is a serious business heavyweight but even if Barclays bail Liverpool out for now, their problems remain. It's a sticking plaster, not a solution, and a new buyer still needs to be found if a new stadium is to be realised.

 

"The crux is that Hicks and Gillett's valuation of the club is much higher than everyone else's"

 

However, the appointments of Broughton and Barclays could also signify that rather than wanting to attract simply minority investment, the owners have had enough, and are now preparing to leave Anfield altogether.

 

Their presence together at Anfield last week, for the first time in six months, certainly suggested a change of approach.

 

An outright takeover still depends on the owners being more realistic with their valuation however, and is likely to only happen once the club's Champions League fate is known.

 

Fresh capital cannot be found quick enough for Liverpool and their manager, who believes he needs to spend £60m this summer to remain in the Premier League's elite.

 

If they fail to finish in the top four of the Premier League, I understand the club will struggle to pay the huge interest payments on their debt burden.

 

If no one can be found to lend them more money, prize assets such as Fernando Torres could well have to be sold.

 

Twice before, Hicks and Gillett have come close to a complete sale of Liverpool. Many Liverpool fans will hope now hope this latest twist to their tenure will result in third time lucky.

 

BBC - Dan Roan's Blog: Liverpool co-owners playing for extra time

[1892-LFCWasBorn]

Think this is attrocious news to be honest.

 

The simple fact was the the two cunts had to come up with £100m of their own money to pay RBS.

 

They don't need to do this now. They don't have to rush a sale either for a lot less than they would have wanted.

 

Only two winners here. The two cunts AGAIN.

 

The only loser here being us AGAIN.

 

For fucks sake.

[zigackly]

In the face of our owners history and not really knowing what is going on, I just don't understand optimism as a response.

[andrew78]

Id holed your horses past months loads of things were been written ,nothing has come true i think its bull shit ,were a fucking joke i couldnt give a fuck if we dont finish 4th just means more money for them and just playing for 4th next season ,id rather we just sell torres and gerrard pay the debt and build stadium.I no its harsh but looking foward for another fight for 4th is just depressing

[Anny Road]

Surely it's time for a match boycott.

We stop going till they are gone.

[ali]

Barclays to assess Liverpool options

 

(UKPA) – 2 hours ago

 

Barclays has been brought in by the owners of Liverpool in a move that could lead to the sale of the business, it has emerged.

 

The bank, which is the main sponsor of the Premier League, is to assess the options for the club through its Barclays Capital arm.

 

It is thought the move would calm fears about Liverpool amid ongoing disagreements between the team's American owners, Tom Hicks and George Gillett, over strategy and financing.

 

Liverpool, which has been the subject of refinancing speculation recently, will also install Martin Broughton of British Airways as chairman as part of the move.

 

It is understood lender Royal Bank of Scotland will continue to be involved with the club, despite reports that Barclays would move to replace existing banks RBS and US firm Wachovia.

 

Barclays and a spokesman for Liverpool's owners declined to comment on Sunday.

 

The Press Association: Barclays to assess Liverpool options

[Red Nick]

That has to be the first bit of good news all year.

 

The real question now is will they find a buyer at 400m to give both owners a 50m profit because without it they wont leave.

[WaltonRed]

If this drags on all summer then next season will be a right off as well.

[Red Nick]

Its got to be positive because Rafa here next season and the club is in dire straights

 

Lets hope someone buys us because at 400m with the players we currently have are a better buy than Man City was.

[ali]

apologies to Steve for double posting the PA piece

 

 

UPDATE 1-Barclays to oversee sale of Liverpool FC -source

Sun Apr 11, 2010 11:50am EDT

 

 

* Source says re-financing up to new buyer

 

Financials

 

* BA chairman set to join board to oversee sale -report

 

By Steve Slater and Matt Scuffham

 

LONDON, April 11 (Reuters) - The U.S. owners of Premier British League Football team Liverpool are looking to sell the club and have appointed Barclays Capital to find a buyer, a source familiar with the matter told Reuters on Sunday.

 

American businessmen Tom Hicks and George Gillett are facing a demand to repay 100 million pounds ($153 million) of the club's 237 million pounds debt to its lenders, Royal Bank of Scotland and U.S. bank Wachovia, in July.

 

That has prompted them to seek a buyer for the club, which has been English champions 18 times and won the European Cup five times.

 

The Sunday Times had reported that Barclays would back a 300 million pounds ($458.8 million) refinancing at Liverpool that would lead to the sale of the Premier League club.

 

The newspaper said the bank is this weekend finalising a deal that will see it replace the club's current lenders, provide more money for manager Rafa Benitez to spend on players and install British Airways (BAY.L) chairman Martin Broughton as chairman.

 

However, the source told Reuters it would be up to the new owner to make a decision over whether to refinance the club's debt. The source also declined to comment on what price the club could be sold for or when a sale is likely to take place.

 

Liverpool Football Club was not immediately available for comment. Barclays Capital declined to comment.

 

The Sunday Times said Barclays, the main sponsor of the Premier League, will replace RBS and Wachovia, and provide the Merseyside club with additional capital.

 

Analysts had suggested Liverpool is worth 500 million pounds but the paper said Barclays is understood to believe it would fetch far more if given time to improve its trading.

 

Benitez was quoted in British media on Sunday as saying Liverpool needed to bring in more players to compete and may even have to sell a few to be able to reinvest.

 

"It doesn't matter if it's four or five or three or five, the cost of a top class player is 15 or 20 million pounds. So with three or four players, you start counting and I think we need up to four new players," he said in The People.

 

"I don't think I will have to sell a big player, but it will depend on the investors so I cannot guarantee we won't have to sell. Our idea is to keep the spine of the team." (Reporting by Matt Scuffham; Additonal reporting by Ken Ferris; Editing by Greg Stutchbury, Mike Nesbit) ($1=.6539 Pounds)

 

UPDATE 1-Barclays to oversee sale of Liverpool FC -source | Reuters

[WaltonRed]

Havent we had people hired before to sell us?

 

Fucking joke.