Hicks and Gillett Officially Put LFC Up For Sale

[Dr Arthur De Sabre]

Goold Old Basco's report from the snakeoil texan is that he intends to make back 4 times whet he invested in Liverpool, consequently there are people seeing their arse, believeing the pair of wankers will be looking for 800 mil to sell the club. the key point of what the prick prints is QUADRUPLE HIS INVESTMENT. He and the other little shite hawk have not invested 200 mil in the company, they have borrowed 200+, but have in fact probably invested as little as 10 mil a head. Considering the money they have taken out in expenses so far, along with money they will expect to make on the loans to the club from Kop Football cayman (which is possibly part of the debt on kop football currently) they could quite easily quadruple THEIR INVESTMENT without the club selling for more than 350 mil..... still pretty fucking frustrating thta the cunts can make anything, but they have improved the commercial side, and are ripping a nice little profit whilst scarpering.

 

If you had a gran to invest and somebody said, hey I can get you 400% return on that over 4 years, easy market, would you invest?? Thats all these pair of cunts have done, and they'll do it plenty more... forget about assets totalling 1billion, they pick up nice little dropsies from trading assets of their portfolio, never risking their own wedge, the money they take out of kop football will doubtless be squirrelled away offshore somewhere, how else can these bastards go bankrupt so easy and return to the ring? Tey are playing to differet rules, and good old basco has helped this fucker rub a bit more shit in the wounds of liverpool fans, and stir them up a bit as goodbye kiss...looks lik it has worked as well

[Albertini]

the more debt you have the stronger your position. the bank doesn't want to bankrupt them as they'll get next to nothing. is the club properly secured against that loan - I suspect not as there's always been talk of the guarantees were against their US interests, which also seem to be worth nothing. I have no doubt RBS want out of this and they'll play as hard as they can - but how hard that will be if they think the yanks will just go "we're not paying you anymore" remains to be seen. For me this extension, along with the almost identical one last year (hiring purslow to appease rbs, promising to pay most of the debt back to get it back to 130m as opposed to hiring broughton and don't worry we're selling up gov), suggest RBS know they're fucked - why would they have not just taken the club if they had the power to do so?

 

True to a degree after all if you owe a bank £100,000 you worry but if you owe a bank £100 million they worry.

 

However i don't think it's entirely accurate to suggest if you owe a bank hundreds of millions you are untouchable.

 

I am fairly certain that the debt is against Kop Holdings and that the only asset of Kop is the club.

 

The debt has never been against any of the US interests for the reason you mention, they're worth nothing against existing commitments.

 

If RBS did have to foreclose they would simply sell the club and get their £237 million back, the only people who would get nothing are C&A who would lose their profit.

 

Again another reason why the sale is as important for the Yanks.

 

You are reading things one way, i'm reading them a different way.

 

The appointment of Purslow appears to have been part one. Try to secure investment to reduce the debt.

 

That failed so the show has moved onto stage two. We didn't get investment so now we have to sell.

 

RBS appear to have taken the view that if they can arrange a quick sale everyone is happy and there is less disruption to the club and their loan. It represents a good exit strategy for all concerned. That is why the extension appears to be 6 months rather than a year.

 

Perfectly sensible given the circumstances. Banks generally don't want to call in loans unless they absolutely have to. The owners have never officially put the club up for sale before so the banks are giving them the opportunity to do so.

 

They are not at the stage of calling it in yet but give it 6 months and it's still not sold i am sure that they will in some form.

 

It is happening all over the corporate world at the moment, heavily indebted companies are up for sale to try and clear their debts. It's the first option in clearing debt.

 

All roads point to the bank saying you haven't secured investment, you can't reduce the loan, you can't fund a new stadium and new players so you have to sell.

 

The owners appear to have accepted this.

 

After all the question is if the banks haven't forced them to sell why has Hicks done his about face after bleating for two years that his share is not for sale?

 

What has made him change his mind if not the banks forcing him?

[sean_dundee]

cant understand why people think these cunts wanna hang on at all costs,where will it get them. no money for transfers,no champions league,sell best players lose loads of money in merchandising end up in mid table at best,lose match day revenue ect ect ...would you sell now or when theyve took the club down this road?

[Kennys_spell]

 

the more debt you have the stronger your position. the bank doesn't want to bankrupt them as they'll get next to nothing. is the club properly secured against that loan - I suspect not as there's always been talk of the guarantees were against their US interests, which also seem to be worth nothing.

 

That's just wrong, very very wrong.

 

The more debt you have the more collatoral you have against that debt - if the Bank make them bankrupt the bank take control of the assets. The Assets of "Kop Holdings" are Liverpool football club, not some failing American venture but Liverpool football club and all it's assets.

 

So if the Bank call the loan in - which they haven't done yet because no debt deadlines have been missed yet - they can repossess the club and sell it off, Guaranteed the Bank would get more than the £234 Mill debt they are owed if they sold this asset on the open market.

 

I have no doubt RBS want out of this and they'll play as hard as they can - but how hard that will be if they think the yanks will just go "we're not paying you anymore" remains to be seen.

 

The extension is to allow the sale process to go ahead, the criteria for the sale to go ahead has been hammered out with all parties - why else would the Leeches spend a week in London with the lawyers? RBS Still own the debt (Effectively Kop Holdings) and have now forced this sale situation. The Leeches at this stage simply cannot say "We're not selling".

 

For me this extension, along with the almost identical one last year

 

Which extension? There was no extension when Purslow was hired.

 

(hiring purslow to appease rbs, promising to pay most of the debt back to get it back to 130m

 

That actually happened - I could be misreading this but you seem to be saying that this was some sort of 'Scheme' by the Leeches to buy themselves more time. I don't understand how.

 

as opposed to hiring broughton and don't worry we're selling up gov), suggest RBS know they're fucked - why would they have not just taken the club if they had the power to do so?

 

I also don't understand how you can claim that RBS are fucked - they effectively have taken the club off the Leeches by forcing the sale process.

[shaunstrudwick]

has there been any official press release from the club re: whether RBS are extending the current £237m debt facility for another 6 months (to Feb 2011?)

 

or whether Barcap are taking on the debt and extending the line of credit to £300m?

[Barrington Womble]

Kenny, I can't even be bothered arguing with you. As I said to albertini, you think rbs are in a strong position, I don't. if they were they'd have done something about it. If

the could effectively reposses the club, surely they'd make money? Surely they'd be securing they don't lose? They're giving them

time because they have no choice. Go back and read some of the articles around the last but one renewal. There was lots of reports at the time the loan was secured against their US holdings as the sale conditions of LFC prevented it from being the club. It was one of the few things parry and moores ever got praised for. Now I imagine the stuff that was secure against is worth shit, which is why I believe rbs are fucked. They can't take the club even if they want to. The yanks know this and can play chicken all day with rbs, as rbs will be the bigges losers.

[Barrington Womble]

Kenny, I can't even be bothered arguing with you. As I said to albertini, you think rbs are in a strong position, I don't. if they were they'd have done something about it. If

the could effectively reposses the club, surely they'd make money? Surely they'd be securing they don't lose? They're giving them

time because they have no choice. Go back and read some of the articles around the last but one renewal. There was lots of reports at the time the loan was secured against their US holdings as the sale conditions of LFC prevented it from being the club. It was one of the few things parry and moores ever got praised for. Now I imagine the stuff that was secure against is worth shit, which is why I believe rbs are fucked. They can't take the club even if they want to. The yanks know this and can play chicken all day with rbs, as rbs will be the bigges losers.

[aws]

 

If you had a gran to invest and somebody said, hey I can get you 400% return on that over 4 years, easy market, would you invest?? Thats all these pair of cunts have done, and they'll do it plenty more... forget about assets totalling 1billion, they pick up nice little dropsies from trading assets of their portfolio, never risking their own wedge, the money they take out of kop football will doubtless be squirrelled away offshore somewhere, how else can these bastards go bankrupt so easy and return to the ring? Tey are playing to differet rules, and good old basco has helped this fucker rub a bit more shit in the wounds of liverpool fans, and stir them up a bit as goodbye kiss...looks lik it has worked as well

 

 

If I had a gran to invest I reckon rooney would offer the best return.

[Kennys_spell]

Kenny, I can't even be bothered arguing with you. As I said to albertini, you think rbs are in a strong position, I don't. if they were they'd have done something about it. If

the could effectively reposses the club, surely they'd make money? Surely they'd be securing they don't lose? They're giving them

time because they have no choice. Go back and read some of the articles around the last but one renewal. There was lots of reports at the time the loan was secured against their US holdings as the sale conditions of LFC prevented it from being the club. It was one of the few things parry and moores ever got praised for. Now I imagine the stuff that was secure against is worth shit, which is why I believe rbs are fucked. They can't take the club even if they want to. The yanks know this and can play chicken all day with rbs, as rbs will be the bigges losers.

 

You can't be bothered arguing and then launch into that?

 

You clearly don't want to see - so I'll finish with a question.

 

What are RBS losing by repossessing the club now?

 

Answer - Guaranteed interest payments amounting to £30 Mill a year.

 

Any bank would hold onto these payments for as long as they can be made with the full knowledge that the collateral against this loan is worth far more.

 

Moores and Parry did no such thing getting the loan secured against US assets.

[Whelan]

A year ago when they tried to renegotiate the loan they had not defaulted on loans for their other holdings, they have now.

 

If the club is worth 400 million quid then no bank is going to let them build up loans worth more than 300 million, because they won't get their money back so the suggestion (if that has been suggested mind), that the yanks can carry on as previous is not practical.

 

The basic fact is this, if they didn't need to sell then they wouldn't sell!

[SCOUSE TAPAS]

If you look at the whole picture,then it might become more clear.

 

C+A have been chasing Broughton for a while.

The 5th of April Hicks Defaults on £351 mill loan in the states.

 

Rhone group agree to invest in Liverpool.

 

Three days before they are due to come on board,Broughton agrees to come to us and sell the club.

 

C+A stop Rhone investing in the club.

 

To me no matter what Hicks says,he wants us sold and pretty quickly as well.

[The Acolyte]

It's a fair argument that says if Man City get fourth they will strengthen and possibly become a fixture in the top four, such is their financial strength. But that needn't keep us out forever.

 

An argument could be made against the other top three clubs.

 

Arsenal - we have more often than not been ahead of them under Rafa's tenure. If Citeh become a fixture in the top four maybe Arsenal could make way for us if we fight back next season.

 

Man Utd - I can't believe that they continue to do as well as they do. They are more than the sum of their parts and a lot of that is down to Fergie. I don't like him at all, but it is undeniable that he is one of the great managers in history. He can't go on forever. Their debts are enormous. They have a generation of players coming to the end of their careers, and the expensive youngsters they have bought blow hot and cold. Perhaps we could displace Man Utd if we fight back?

 

Chelsea - they look the strongest of all the top teams to me, but it has to be said that their team is getting older. Does Abramovich have the will to invest further? Or does he want it ticking over and largely paying for itself these days? If this is the case they will obviously still be there or thereabouts, but by no means unbeatable.

 

If we get proper owners and start firing on all cylinders there is nothing out there we should fear.

 

Don't want to piss on your chips but all that is possible apart from one minor detail. What the fuck are we gonna fight back with?! Rafa has had his transfer fund ripped out of his hands once before whats to stop them doing it again?

[SCOUSE TAPAS]

Don't want to piss on your chips but all that is possible apart from one minor detail. What the fuck are we gonna fight back with?! Rafa has had his transfer fund ripped out of his hands once before whats to stop them doing it again?

 

We will find out shortly about that.

 

Rafa wont stay if there is no money.

 

Also Broughton has said there is money,so if none appears then we no he is in with C+A,and then the panic sets in.

[mattyq]

Have to disagree with your analysis, Barry.

I think the 2 scumbags have been forced to sell and sell they will.

They'll bluster and twist and use every method in the book to get a higher price but they'll have to sell

[The Acolyte]

We will find out shortly about that.

 

Rafa wont stay if there is no money.

 

Also Broughton has said there is money,so if none appears then we no he is in with C+A,and then the panic sets in.

 

Didn't Purslow say the same thing?

[King Emlyn]

If I had a gran to invest I reckon rooney would offer the best return.

ha ha ha

[PaulMcC]

I've had no internet access since last Thursdsy, any stuff about this Club being for sale business?

 

Is it just abluff by Hicks to hold on?

[aws]

I've had no internet access since last Thursdsy, any stuff about this Club being for sale business?

 

Is it just abluff by Hicks to hold on?

 

The general consensus is that RBS have them over a barrel and it's only a matter of time. The minority view is that the yanks are playing RBS, Broughton etc for time and will only sell when they're good and ready.

[karl1987]

Kenneth Huang, who recently linked to the take over of Liverpool, has denied the link on few occasions. As the Liverpool owners announced the English football giant is up for sale, Huang finally speaks up for the first time when he attended a NBL (Chinese National Baseball League)game yesterday at Chengdu, China.

 

On the Liverpool take-over, Huang said:' I really wish it turns out to be a successful bid, but then we will see."

 

But how was it started? Huang replied:' Back in 2008, I was at Singapore attending a F1 Grand Prix, the representatives from Liverpool contacted me to see if I am interested in taking over the football team. They were quoting $1 billion US dollars. The price was totally unreasonable so I turned them down."

 

"Last year, they came back again and their asking price has dropped significantly, at that point, I think we could talk."

 

"Actually the negoiation has been going on for few months already. We are now at a crucial stage. "

 

On current progress, Huang continues: "Right now, my audit team is examining the books and my legal team is keeping close contact with theirs. But then we have a fierce competitor from Middle East."

 

When will you know if the bid is successful?: "It will be finalized in June."

 

Why sell up Cleveland Cavaliers then? He said:' I didn't want to sell Cavaliers at all, but there's a rule that you can't own a sporting franchise outside US when you're the owner of a NBA team, so I just had to.'

 

Huang went on to say football is the most popular sports in the world, premier league is the leader of them all. But why Liverpool? Huang said"Liverpool fans are passionate bunch of people, they really are. I went to Merseyside on few occasions, you can totally feel the vibe."

 

Huang stressed that 'money is not a problem', so what is his goal he wants to achieve for Liverpool? "Get back to where we were, to be the double champion of Premier League and Champions League."

 

When asked if he's the one who allegedly called Benitez, Huang replied with a smile:' Benitez is a top coach."

 

 

sources from Sina, Nan Feng Daily and China Daily.

[jackofdk]

With China bound to rule the world soon, we could do worse than getting a chinese owner, I suppose.

 

I like that Huang fella's attitude towards money as well (not a problem) and his ambitions for the club.

[jackofdk]

EDIT: Weird double post.

[Kennys_spell]

With China bound to rule the world soon, we could do worse than getting a chinese owner, I suppose.

 

I like that Huang fella's attitude towards money as well (not a problem) and his ambitions for the club.

 

I like this:

 

Huang stressed that 'money is not a problem', so what is his goal he wants to achieve for Liverpool? "Get back to where we were, to be the double champion of Premier League and Champions League."

 

Already talking as though he's a part of it all. Could have been a "lifetime red".

[jackofdk]

They're all reds over there, though, with the communism and all;-)

[PaulMcC]

The general consensus is that RBS have them over a barrel and it's only a matter of time. The minority view is that the yanks are playing RBS, Broughton etc for time and will only sell when they're good and ready.

 

Cheers.

 

I seen the 600-800 valuation piece on the paper. If they really want that, they'll be here for years.

 

I can't get excited about them announcing they'll leave cos I've been let down thinking they were leaving too many times in teh past.

[1_robbo]

You'll never Wok alone .......