The David Moores Letter

[diego]

Something that has never occured to me before is that the £88m that David Moores pocketed from the sale is actually a massive part of the debt that's crippling us.

 

In effect, he enjoyed the prestige, power and thrill of owning LFC for donkey years and never put a penny into it. All the money he advanced to buy players was in the form of interest-bearing loans which were fully repaid to him as part of the H&G purchase price. The greater part of the current debt everyone is complaining about represents the money paid to Moores and the other shareholders.

 

But the main burden he placed on LFC was his refusal to borrow money to build a stadium when loans were much cheaper and building costs much lower. He could have easily arranged this with a conventional mortgage secured with the revenue from the turnstiles and naming rights. A new stadium, rather than the mythical LFC-loving sugar-daddy he was looking for, would have met the rising costs of player's salaries which, he says, was his main motivation for wanting out. It would have also been more in keeping with The Liverpool Way, which he claims to represent. In fact, if he still wanted to sell after a new stadium was up and running, he would have made a larger profit than he did.

[Anny Road]

The fact that it was a letter and not an interview suggests to me that any decent journalist could blow his pathetic reasoning out of the water.

That plus his feeble mind would expose him for what he is.

 

Truth is he was way out of his depth handling the sale himself but too pig headed to admit it to himself.

 

Still £80m ain't bad eh Dave. Softens the blow somewhat.

[Whelan]

It is absolutely nothing at all like Arsenals, for one big reason.

 

Arsenal's board did not intend to sell, as soon as the spade was in the ground for more money. That was their business plan, take a loan with a hundred mill extra to cover signings etc, then take the loan for the stadium, which you place on the club and then sell for 800 million. You pay of your initial debt, and walk away with 200 million profit each.

 

And you have spent fuck all.

 

They never intended to stay, they only intended to sell on. They never budgeted to stay on, they only ever budgeted to sell on.

 

But they got greedy, saw Barcelona and Athens and thought 'We are going to need 70'000, not sixty thousand' we can make 800 million, not 600 million. They went away, redesigned and the world changed, and they certainly didn't budget for that.

 

So what could they do, you can't raise money for the stadium since you have mortgaged the club, albeit indirectly to the hilt, this wasn't like other recessions this was a credit crunch, and what were they after? Credit! They didn't budget for that either.

 

They figure that once the space goes in the ground, they will have an extra 300 million in their back pocket! That is all it needs for them, a spade in the ground, and that sadly is why they are hanging on by their finger nails for that sliver of opportunity.

[coachpotato]

He's been called every name that he could be.

It's been pointed out how gullible/stupid/greedy he appears to be.

People point at the £8 Mill extra he got and wonder if that was the driver for the sale.

 

Really - I don't care about all that. I don't care that Moores has now decided the time is right to try and exonerate himslef from any wrong-doing in the sale. Fair enough from his point of view I suppose - his own self view and self esteem must be rock bottom

 

The ONE thing I want to know from Moores is

 

WHAT ARE YOU GOING TO DO ABOUT IT NOW ?

 

3000 words are just that - words on tomorrows fish wrappers. Easily written and even more easily discarded.

 

WHAT IS YOUR NEXT STEP? What tangible action will you be taking to prove that you meant every word of that article?

 

Balls in your court Mr Moores - we're all waiting.

 

This.

 

Buy us a £20M striker Dave, one who will help out Torres and give us an option of 2 up front occasionally. Go on. You know you can afford it.

You'll still be left with £68M.

How much money does any one person need Dave?

[njackets]

If this letter is all were going to get out of him I think the least he can do is make a donation to SOS.That will go a little way to making amends his massive fuck up.

[goatboy59]

Apologise, Moores!

 

[YOUTUBE]MSHaCzb3yYk[/YOUTUBE]

[PaulMcC]

Apologise, Moores!

 

[YOUTUBE]MSHaCzb3yYk[/YOUTUBE]

 

Haha.

 

At least Jack said sorry, Moores hasn't even done that.

[goatboy59]

Haha.

 

At least Jack said sorry, Moores hasn't even done that.

 

My bad, the clip isn't long enough.

 

The next line was "now that's sarcasm"!

[PaulMcC]

I've seen the episode.

 

Moores won't even lie that he's sorry. He feels he has no need to apologise.

[goatboy59]

Moores won't even lie that he's sorry. He feels he has no need to apologise.

 

Or whoever wrote that pile of shite for him doesn't.

[stringvest]

To make the club look more attractive for another buyer, to put on show its great potential they could realise if they bought it off him, thats why he drew up them pretty and expensive plans...remember them! not in a million years where they ever to see reality under him, biggest pisstake ever.

 

Ideally looking back on it now Hicks in particular would have liked to have come in, and sold on as fast as possible for loads of money, not worked out quite that way so now he has to blame recession and dig in till he dies , we eventually get sold or go into administration, theres some worrying quotes been released where has he has said he has lost money on the texas rangers so his need to make money from us is greater than ever, he is with us till the bitter end wherever that takes us.

 

I don't agree with your premise there. I dislike them and their abuse of our club, but I am convinced that they wanted to realise the benefits of a new stadium build, and not just a sale off plan.

[stringvest]

This.

 

Buy us a £20M striker Dave, one who will help out Torres and give us an option of 2 up front occasionally. Go on. You know you can afford it.

You'll still be left with £68M.

How much money does any one person need Dave?

 

This is a bit naive imo. He is not going to do that. All the people calling him all the cunts under the sun might want to think about whether they would be prepared to give 25% of their worldly goods and their future earnings up. Have a word with the wife and see what she thinks about it first though.

 

Moores has no leverage with anyone, anywhere, that can materially influence the outcome of this charade. Liverpool football club is a business and not a charity.

[Skidfingers McGonical]

Or whoever wrote that pile of shite for him doesn't.

 

Lionel Richie?

[Brownie]

That letter is a bit of a joke. He starts off by saying that he doesn't have anything to apologise for and then goes on to list things that he could have done better and feels regret for.

 

Erm, that's basically an apology you dimwit!

 

I hope this will do some good although after seeing Hick's quotes from today I don't think it will.

[Paul]

No doubt I'm just repeating what others have said, but that letter is embarrassing in every respect bar the fact that it drags those two cunts kicking and screaming into the full glare of negative publicity. That aside, it's a self-serving, self-justifying attempt to paint himself in a more favourable light. Two sentences would have been better than the interminable shite he trotted out:

 

"I fucked up badly in bringing this pair of blood sucking leeches into the club. They have to be forced out if LFC is going to survive."

 

Everything else is just self-indulgent, self-pitying window dressing.

[Royal Family]

I'm not a financial wizard, so can anyone explain this to me: My understanding is that if we go into administration, won't the main creditor be the Cayman Island holding companies - in other words we'd have Hicks and Gillett as our main creditors, no doubt with 'protected' status which ensures they get paid before anyone else, and they would be effectively able to block any sale of the club and cause legal problems? So even adminstration wouldn't get rid of the two leeches as we'd be financially indebted to them for years to come? Is this why the bank isn't pushing towards administration (that and it's £48m interest bill for the coming year plus fees!!)

[Joe Le Taxi]

I haven't heard the interview in full, but I have just caught a clip of David Johnson talking on TalkSport claiming that the owners are businessmen, they have a plan and care as much about LFC as former owner David Moores and supporters.

 

Like I said before, when I was 15 and we played Sunderland at home in 2008 I was sat in exec and Johnson was going on and on about how good Hicks is and those fans protesting after the game are pathetic and foolish. I tried to debate but he kept saying I was a child and knew nothing.

 

Still got his autograph like...

 

David Johnson is a twat who's been kissing Gillett's arse since he got here.

 

He's Hicks' man.

[Marko121]

The letter says

 

"George and Tom were carried shoulder high through the city centre on the afternoon of the Barcelona game in March 2007"

 

Oh right - so its OUR fault Dave.

 

What a self pitying bastard.

 

and if anyone was indeed " carrying them shoulder high" it was on your fucking say so.

[aws]

I'm not a financial wizard, so can anyone explain this to me: My understanding is that if we go into administration, won't the main creditor be the Cayman Island holding companies - in other words we'd have Hicks and Gillett as our main creditors, no doubt with 'protected' status which ensures they get paid before anyone else, and they would be effectively able to block any sale of the club and cause legal problems? So even adminstration wouldn't get rid of the two leeches as we'd be financially indebted to them for years to come? Is this why the bank isn't pushing towards administration (that and it's £48m interest bill for the coming year plus fees!!)

 

RBS would get repaid first and the administrator would effectively sell free of the group "loans" but G&H would get the balance of the sale price after RBS.

[WaltonRed]

No doubt I'm just repeating what others have said, but that letter is embarrassing in every respect bar the fact that it drags those two cunts kicking and screaming into the full glare of negative publicity. That aside, it's a self-serving, self-justifying attempt to paint himself in a more favourable light. Two sentences would have been better than the interminable shite he trotted out:

 

"I fucked up badly in bringing this pair of blood sucking leeches into the club. They have to be forced out if LFC is going to survive."

 

Everything else is just self-indulgent, self-pitying window dressing.

 

In one.

 

If it was me i'd be putting money to the cause of trying to get the club back.

[Dougie Do'ins]

Moores said he would make a statement at the end of the season and regardless of what people think of it's content, he kept to his word and it has generated a lot of media attention. But, before this thread dies a death, I'd just like to say thanks to Kev Sampson who put just as much of his time into this as anyone else has.

 

Cheers Kev.

[Carra_is_legend]

Apology or no apology, he would have earned a little respect from me had he come out and said something when the first sign of trouble came to light. That is, when it was clear a huge debt was placed on the club.

 

But he didn't, most likely because his mate Parry was still at the club.

 

I know Mick said above that Moores promised to speak after the end of the season, but I wonder if Parry got the last payment of his 4.x million yesterday before Moores decided to send that letter. This is most likely not the case but he has lost my respect so much that even if does a good thing, I will still be cynical.

 

Anyway, big thank you to Mick, Al and Kev for making him come out and say something, however useless it might be in the current situation.

[ChicagoRed]

Can anyone explain a) why Moores chose to speak now and b) what he thinks about his letter that will be helpful to the sale process?

 

LFC is on the block....but people who are supposed to love the club spend time trashing it and predicting doom.

 

Any new buyer will want to inherit as much stability as possible and then make their own choices about going forward.

 

The way the media, aided by so-called supporters, has created a feeding frenzy of negativity IMO is going to be a big obstacle to be overcome in finding a buyer. Can you imagine what a buyer has to face if we don't win the Premiership, or Torres leaves, or Rafa, or the stadium has a problem?

 

People can express their wish list, but it will be up to the owners (new) to deliver. Big ask?

 

When you're in the shop window, you need to look good, at least as good as you can.

 

So Mr Moores, what have you achieved by this besides making yourself feel better.

[Original202]

Can anyone explain a) why Moores chose to speak now and b) what he thinks about his letter that will be helpful to the sale process?

 

LFC is on the block....but people who are supposed to love the club spend time trashing it and predicting doom.

 

Any new buyer will want to inherit as much stability as possible and then make their own choices about going forward.

 

The way the media, aided by so-called supporters, has created a feeding frenzy of negativity IMO is going to be a big obstacle to be overcome in finding a buyer. Can you imagine what a buyer has to face if we don't win the Premiership, or Torres leaves, or Rafa, or the stadium has a problem?

 

People can express their wish list, but it will be up to the owners (new) to deliver. Big ask?

 

When you're in the shop window, you need to look good, at least as good as you can.

 

So Mr Moores, what have you achieved by this besides making yourself feel better.

 

Do you think any potential new owners would just be totally oblivious to the way G&H hav destroyed the club already? Frenzy of negativity? Jesus wept.

[HornsOfJericho]

Just to make it clearer this is what we've been paying.

 

 

And you want to add on another £400m on top for a new stadium and say it's just like Arsenal's plans.

 

Fuck off. It's nothing like Arsenal.

 

Yeah, I think you need to learn how things work in chronological order.