The David Moores Letter

[usernameunknown]

ITT: People criticise Moores even though they loved it themselves when the Americans took over.

 

Cue people saying they never wanted them.

 

He was the one doing the deal not us. Of course fans get excited, we hear "investment" and think oi oi its our Abramovich. And there were quite a few critics of Hicks and Gillett before they took over.

 

His ineptitude is just summed up with "We trusted George's word". That's the same George that they'd already turned down and had also been turned down by Doug Ellis at Villa.

[RoboRiise]

A big thank you to both ATK and Dougie Doins again. They turned up at his door and have achieved this.

 

Lets just hope it is worth the read.

 

 

Absolutely right Cain, hats off to Al and Mick.

 

I know Alan in particular divides opinion on here sometimes, not that I think he gives a shit; in fact I'm sure he positively revels in it at times. Perhaps we'd do well to remember that the people who provoke strong reactions often prompt some of the best debate on internet forums. Regardless, they've both made huge efforts in the fight against the owners. Nice one lads.

 

 

 

"With hindsight, we may have had a lucky escape there as Dubai is not the buoyant market it was in 2007"

 

Yeah!! Go David! What an escape we had there eh?

 

 

Obviously I know where you're coming from but he's actually right with that - in case you haven't been keeping up with world affairs, Dubai's economy has been taking it in the arse recently. It doesn't offset his eulogising of St Rick of Melwood though.

 

Did I miss the part where he rips into the owners or is it just not there?

[HornsOfJericho]

To be fair people were brainwashed by their big ideas.

 

Anyway Im pretty sure there was some people on here who were a bit of a dab hand on Google and could find out exactly what their past entailed. In fact Im sure there were some people.

 

They did have big ideas.

 

The biggest reason for this fuck up was the recession. I don't have to explain what the recession done in detail, as you can see the fuck up the world is in now. Also, the increase in steel price going 4x higher fucked up the stadium plans. It was like a £250 mil stadium going up to £600mil. It would have been a mongo decision to build it as we would be more fucked now than we already are.

 

They had a business plan, but it fucked up due to the recession. That's about it.

 

Moores probably looked at the plan and saw that it was feesable. No one could have predicted the recession.

[Horus]

I have a cunning plan

 

Mo+C&A.JPG2 on Flickr - Photo Sharing!

[ali]

From The Times

May 26, 2010

David Moores: ‘If they have any conscience Tom Hicks and George Gillett Jr will sell up’

 

Tony Evans, Football Editor, and Tony Barrett

 

 

The man who sold Liverpool to George Gillett Jr and Tom Hicks broke his silence last night to call for the club’s American owners to “stand aside” and not “punish the supporters any more”.

 

In an emotional and wide-ranging letter to The Times, David Moores writes that Gillett and Hicks “risk damaging a sporting institution of global renown and if they have a conscience or nobility they will stand aside and allow new owners to take over the club”.

 

The letter will turn up the pressure on the Americans, who bought the club from Moores three years ago in a deal worth £202 million. The new owners leveraged the club with debt, which now stands at £351 million. Moores walked away with £88 million.

 

Five years to the day that Moores woke up in Istanbul with the Champions League trophy beside him in bed, the former owner explains why he sold the club and how he looked for a “fantasy investor ... the infinitely wealthy Liverpool-loving individual or family with the wherewithal to transform our dreams into reality”.

 

The reality turned out very different and Moores admits he was taken in by the Americans. “We had looked at George Gillett’s affairs in detail and he came up to scratch,” he writes. “To a great extent, we took Tom Hicks on trust, on George’s say-so.”

 

Moores rejects allegations, however, that anyone at the club was negligent in the due diligence process, saying Rothschild, the merchant bank representing the Americans, assured Anfield officials “both were good for the money”. The share offer, Moores contends, “was laid out in unambiguous terms ... the document pledged there would be no debt placed upon the club, and significant funds would be made available for investment in the squad and the new stadium”.

 

The letter also explains why Moores felt he had to sell the club and why the bids from Thaksin Shinawatra and Dubai International Capital to buy Liverpool failed. Moores, 65, sees no need to apologise but admits to making “honest mistakes” while acting in the “best interests of the club”. Nevertheless, he “hugely regrets selling the club” to the American pair.

 

Since he resigned from the board a year ago, Moores has not been back to Anfield. “It has been hard for me, sitting mute on the sidelines as the club I love suffers one blow after another,” he writes.

 

The scale of his contempt for the men who replaced him in Anfield’s corridors of power is clear. “I call upon them to stand back, accept their role in the club’s current demise, and stand aside with dignity,” he writes.

 

It is a sentiment that will resonate across Anfield Road but with no buyer in sight, one unlikely to be answered in the near future.

 

http://www.timesonli...icle7136622.ece

[RobbieOR]

They did have big ideas.

 

The biggest reason for this fuck up was the recession. I don't have to explain what the recession done in detail, as you can see the fuck up the world is in now. Also, the increase in steel price going 4x higher fucked up the stadium plans. It was like a £250 mil stadium going up to £600mil. It would have been a mongo decision to build it as we would be more fucked now than we already are.

 

They had a business plan, but it fucked up due to the recession. That's about it.

 

Moores probably looked at the plan and saw that it was feesable. No one could have predicted the recession.

 

The recession really had a small part in it. They bought the club with loans and loaded their debt onto the club. It was always going to go tits up when they were doing that.

 

Where was the recession when Hicks fucked Corinthians up at the start of the decade? Or when Gilette when bankrupt?

[PaulMcC]

They did have big ideas.

 

The biggest reason for this fuck up was the recession. I don't have to explain what the recession done in detail, as you can see the fuck up the world is in now. Also, the increase in steel price going 4x higher fucked up the stadium plans. It was like a £250 mil stadium going up to £600mil. It would have been a mongo decision to build it as we would be more fucked now than we already are.

 

They had a business plan, but it fucked up due to the recession. That's about it.

 

Moores probably looked at the plan and saw that it was feesable. No one could have predicted the recession.

 

The recession is fuck all to do with it.

 

We're fucked cos their greed and Moores greed/stupidity, whichever you prefer.

[Hugo Sanjeev]

The steel was going to cost in the region of £12 million. Deadlines passed before and after Christmas. New Year 2007 came and still no steel, and quite frankly (and, I think, justifiably) we began to have misgivings.

 

 

 

So DIC were expected to OK this without even signing on the dotted line and becoming "owners" of LFC.........why, because Moores had told them in "good faith" that they were his first choice and therefore he felt that gave them sufficient grounds to commit to £12million!??

[Vulmea]

i dont know who's worse Moores or the fuckwits on here - who beat their chests and call him stupid bleedin names - of course he needs to justify himself who teh hell wouldn't - believe him dont believe him it does not matter - we are where we bleedin are and it aint going to change

 

whatever fuck up he made - and its was a real cluster fuck - there is sod all that calling him names does about it - the problem is the two cancers at the club

 

the article is about the two tumours - the fact that they should sell now- thats what you fellow retards should be angry about not David bleedin Moores

 

the club is valued at about 300 million, the debts are 350 million - the leeches want 500+

 

we are in a bad place but not as bad a place as the two gets want to put us - thats what we need to fight to protect against

 

and dont give me there is nothing we can do - yes there is

 

we, that's me, you and everybody else have to pressure the banks, the premier league, the government, every part time casual fan to get on the case and make life so uncomfortable for these two parasites that they leave now, not next year, not after the summer now - with a reasonable offer not a long drawn out bollocks we've seen hicks do in the states

 

we need to make the souless clowns want to go not hang on in the hope of a fat cheque

 

thats were the focus should be not the pissing contest of slagging off Moores

[Horus]

They did have big ideas.

 

The biggest reason for this fuck up was the recession. I don't have to explain what the recession done in detail, as you can see the fuck up the world is in now. Also, the increase in steel price going 4x higher fucked up the stadium plans. It was like a £250 mil stadium going up to £600mil. It would have been a mongo decision to build it as we would be more fucked now than we already are.

 

They had a business plan, but it fucked up due to the recession. That's about it.

 

Moores probably looked at the plan and saw that it was feesable. No one could have predicted the recession.

 

Wow, you're full of shit.

 

The first stadium they were happy with cost £450m, then they scaled it down to £350m. The only way it was feasible was for the banks to allow our current £470m debt and another £350m debt for the stadium, leaving us £820m in debt. They already had used a loan to pay for us so we now know what their intentions were. Coupled with the fact that Doug Ellis had already sussed Gillett out and you argument is either invalid or just plain wrong.

 

Just like your username, their walls have come tumbling down.

[HornsOfJericho]

The recession really had a small part in it. They bought the club with loans and loaded their debt onto the club. It was always going to go tits up when they were doing that.

 

Where was the recession when Hicks fucked Corinthians up at the start of the decade? Or when Gilette when bankrupt?

 

No.

 

Many sporting franchises and businesses are run on loans from banks. Hence, banks going bankrupt because they've loaned to businesses that have gone bankrupt and no way of getting money back.

 

The recession was a massive fuck up for us. We got bought exactly at the wrong time.

 

Arsenal are doing fine with their loans loaded on them.

[Guest davelfc]

i dont know who's worse Moores or the fuckwits on here - who beat their chests and call him stupid bleedin names - of course he needs to justify himself who teh hell wouldn't - believe him dont believe him it does not matter - we are where we bleedin are and it aint going to change

 

whatever fuck up he made - and its was a real cluster fuck - there is sod all that calling him names does about it - the problem is the two cancers at the club

 

the article is about the two tumours - the fact that they should sell now- thats what you fellow retards should be angry about not David bleedin Moores

 

the club is valued at about 300 million, the debts are 350 million - the leeches want 500+

 

we are in a bad place but not as bad a place as the two gets want to put us - thats what we need to fight to protect against

 

and dont give me there is nothing we can do - yes there is

 

we, that's me, you and everybody else have to pressure the banks, the premier league, the government, every part time casual fan to get on the case and make life so uncomfortable for these two parasites that they leave now, not next year, not after the summer now - with a reasonable offer not a long drawn out bollocks we've seen hicks do in the states

 

we need to make the souless clowns want to go not hang on in the hope of a fat cheque

 

thats were the focus should be not the pissing contest of slagging off Moores

 

Cheers for quoting the fucking obvious there. I don't understand how calling Moores names is taking the focus away from the fact we need the two cancers out. He is a dopey cunt and he got us in to this situation. Of course we need to get the other two cunts out but they haven't just written a letter to the Times have they?

[HornsOfJericho]

Wow, you're full of shit.

 

The first stadium they were happy with cost £450m, then they scaled it down to £350m. The only way it was feasible was for the banks to allow our current £470m debt and another £350m debt for the stadium, leaving us £820m in debt. They already had used a loan to pay for us so we now know what their intentions were. Coupled with the fact that Doug Ellis had already sussed Gillett out and you argument is either invalid or just plain wrong.

 

Just like your username, their walls have come tumbling down.

 

YEAH YOU'RE RIGHT! THEY CLEARLY BOUGHT US SO THEY COULD PISS UP 500MILLION UP THE WALL!

 

The £250mil stadium was an example, you tit. I was explaining the price of steel.

[Guest The Chimp]

The recession really had a small part in it. They bought the club with loans and loaded their debt onto the club. It was always going to go tits up when they were doing that.

 

Where was the recession when Hicks fucked Corinthians up at the start of the decade? Or when Gilette when bankrupt?

 

Spot on Robbie. They were still acquiring businesses whilst shafting us. Recession . . . just a convenient excuse for them.

 

As for the reason people gave them a go (not me mind you as I was still reeling in shock as to why anyone would fuck DIC off), well that was because the people who were in the loop (and who were trusted) vouched for them.

 

All in all, possibly the single worst example of sports ownership you could imagine.

[Newport]

That headline by DM is a fucking sly dig and clearly shows how out of touch the cunt is with the people who love and care about the club. Fuck him and Rick. They are just as bad as the Yank cunts. I'd rather he kept his fucking mouth shut and fucked off.

[Horus]

No.

 

Many sporting franchises and businesses are run on loans from banks. Hence, banks going bankrupt because they've loaned to businesses that have gone bankrupt and no way of getting money back.

 

The recession was a massive fuck up for us. We got bought exactly at the wrong time.

 

Arsenal are doing fine with their loans loaded on them.

 

Arsenal used their loan to build their stadium, that's the reason they are now doing fine. They've sold off a load more of those flats too and so are actually fairly cash rich.

 

We were used to pay interest on the loan two systers took out to buy us. Therein lies the difference.

 

The business plan of leveraged debt to purchase us and build the stadium without investing a fucking penny or a nickel is the reason we're fucked, and you're either willfully ignorant of this fact or you have a separate agenda here.

[Hugo Sanjeev]

If Moores checked out Gillett and approved, then why did Doug Ellis tell him to fuck off because he wanted to borrow the money to buy the club and saddle them with the interest?

 

They'd also already rejected Ellis before for not having enough cash, so the major part of the Hicks/Gillett partnerships appeal was Hicks. Yet they took GGs' word for it.

 

Whichever way he tries to spin it, too many fans took too much of an interest for him to blag his way out of it.

 

 

Excellent post.......GG wasn't fit to be associated with Aston Villa but according to Moores & Parry a worthy "custodian" of LFC!

[Guest davelfc]

you're either willfully ignorant of this fact or you have a separate agenda here.

 

I was thinking that myself.

[HornsOfJericho]

Arsenal used their loan to build their stadium, that's the reason they are now doing fine. They've sold off a load more of those flats too and so are actually fairly cash rich.

 

We were used to pay interest on the loan two systers took out to buy us. Therein lies the difference.

 

The business plan of leveraged debt to purchase us and build the stadium without investing a fucking penny or a nickel is the reason we're fucked, and you're either willfully ignorant of this fact or you have a separate agenda here.

 

My point exactly. This is the business plan made for us.

 

Arsenal built their stadium when steel was cheap and can now sell off their properties from the old ground, making themselves self sustaining and paying off the debt. They'll be knocking out profits in 5 years.

 

We just got bought at the wrong time. Theres nothing more to it. Unless you're daft enough to think G & H have done all this just to ruin Liverpool. Any cunt that would have bought us back then would have threw loans on us, unless we got a Man City owner.

[PaulMcC]

How has HornsofJericho been repped so many times?

[Horus]

YEAH YOU'RE RIGHT! THEY CLEARLY BOUGHT US SO THEY COULD PISS UP 500MILLION UP THE WALL!

 

The £250mil stadium was an example, you tit. I was explaining the price of steel.

 

No - immediately after buying us, they offered DIC 10% for £150m. They though people would be falling over themselves to fund our stadium and their interest payments.

 

Oh yeah - that £500m you mention isn't their money, it's borrowed money. They've pissed precisely...............Fuck all up the wall.

 

By the way, it's a known fact that internet cunts use the "Caps Lock" to try and prove a point. Your ideas either have merit or they don't.

[HornsOfJericho]

No - immediately after buying us, they offered DIC 10% for £150m. They though people would be falling over themselves to fund our stadium and their interest payments.

 

Oh yeah - that £500m you mention isn't their money, it's borrowed money. They've pissed precisely...............Fuck all up the wall.

 

By the way, it's a known fact that internet cunts use the "Caps Lock" to try and prove a point. Your ideas either have merit or they don't.

Sigh.

 

I'm not going to explain to you how business works. We're just a botched business plan.

[Horus]

My point exactly. This is the business plan made for us.

 

Arsenal built their stadium when steel was cheap and can now sell off their properties from the old ground, making themselves self sustaining and paying off the debt. They'll be knocking out profits in 5 years.

 

We just got bought at the wrong time. Theres nothing more to it. Unless you're daft enough to think G & H have done all this just to ruin Liverpool. Any cunt that would have bought us back then would have threw loans on us, unless we got a Man City owner.

 

What is your obsession with Steel?

 

I don't believe for one second they did it to ruin Liverpool, in the same way that Hicks hasn't tried to ruin the stars and Corinthians. It's the leveraged debt game. Some they win some they lose, but by not exposing their own wealth to any risk, then it is only the institutions/businesses they leave floundering that suffer.

[HornsOfJericho]

How has HornsofJericho been repped so many times?

 

Because I don't talk shit like you.

 

I'm pretty certain Moores, Hicks or Gillett wouldn't want this shit. It's obviously went tits up somewhere.

[Hugo Sanjeev]

They did have big ideas.

 

The biggest reason for this fuck up was the recession. I don't have to explain what the recession done in detail, as you can see the fuck up the world is in now. Also, the increase in steel price going 4x higher fucked up the stadium plans. It was like a £250 mil stadium going up to £600mil. It would have been a mongo decision to build it as we would be more fucked now than we already are.

 

They had a business plan, but it fucked up due to the recession. That's about it.

 

Moores probably looked at the plan and saw that it was feesable. No one could have predicted the recession.

 

 

Actually it's bit of a side issue and a bigger debate, but Vince Cable of the Liberal Democrats spoke of it even in the H of Commons 3 years or so before it happened......the powers that be and people enjoying the high life chose to ignore it.