First round of bids for LFC

[Moorsey]

I think we have all had the 'Liverpool has been sold to the Arabs' text, but my mate knows the owner of the Hope St Hotel and he said that they where over again a few weeks ago and was telling everyone it will be going through within weeks. Hopefully this is true, and we can actually buy someone before the dreaded end of transfer window.

[Kopite Pete]

In what way?

 

Because god knows what they will find with the due diligence, Hicks is a expert at this sort of thing. These off shore accounts they have set up and money vanishing for the so called stadium design.

[seven of eleven]

It all depends on the price regards the attractiveness of the club.

 

We are still a worldwide brand with a huge fanbase.

 

We still have massive marketing players such as Torres and Gerrard (although that may shortly change).

 

Building a new stadium, complete with naming rights can make the new owner plenty of money and allow us to stay competitive at the top of the table.

 

The problem arises on the initial purchase price though as the club is only worth £300-350m maximum so any potential buyer is not going to want to pay too much over that.

 

Its not even worth that once you add the debt to the cost I say closer to 100m plus debt wiped.

[Albertini]

Because god knows what they will find with the due diligence, Hicks is a expert at this sort of thing. These off shore accounts they have set up and money vanishing for the so called stadium design.

 

No i can't see it happening at all. If anything nasty shows up it will be reflected n the price offered.

 

Them two dicks need to get out now.

 

Given that they can't raise any money from anywhere they will have to accept the highest bid whatever the state of the accounts.

 

Remember two important things.

 

1) RBS have set them a deadline and will call in the loan by October if the club is not sold. Once called in the two cunts have personal guarantees meaning RBS can sell the club then for whatever they want and if there is a shortfall between what is owed and the sale price them two will have to stump up the difference.

 

2) Given point 1 they have lent £140 million to the club and if RBS calls it in their £140 million goes to the back of the queue.

 

RBS won't give two shits whether the cunts are left out of pocket and will sell at a price then to get their money back only.

 

Them two douches will be left £140 million down on their loan plus any shortfall on what RBS sells the club for.

 

If they don't sell by October they could be £140 million + down.

 

If they sell in August at a push they will get all their money back and might even make a small profit.

 

As has been said many times Hicks is all about the money and he isn't going to entertain a loss on that scale which is quite possible.

 

Which is why we haven't heard a peep from him for a few weeks and why the club will be sold before October.

Edited July 11, 2010 by Albertini

[coop]

No i can't see it happening at all. If anything nasty shows up it will be reflected n the price offered.

 

Them two dicks need to get out now.

 

Given that they can't raise any money from anywhere they will have to accept the highest bid whatever the state of the accounts.

 

Remember two important things.

 

1) RBS have set them a deadline and will call in the loan by October if the club is not sold. Once called in the two cunts have personal guarantees meaning RBS can sell the club then for whatever they want and if there is a shortfall between what is owed and the sale price them two will have to stump up the difference.

 

2) Given point 1 they have leant £140 million to the club and if RBS calls it in their £140 million goes to the back of the queue.

 

RBS won't give two shits whether the cunts are left out of pocket and will sell at a price then to get their money back only.

 

Them two douches will be left £140 million down on their loan plus any shortfall on what RBS sells the club for.

 

If they don't sell by October they could be £140 million + down.

 

If they sell in August at a push they will get all their money back and might even make a small profit.

 

As has been said many times Hicks is all about the money and he isn't going to entertain a loss on that scale which is quite possible.

 

Which is why we haven't heard a peep form him for a few weeks and why the club will be sold before October.

 

Regarding the personal guarantees the owners have given, i think this is one of the reasons why RBS are getting twitchy because the value of the guarantees are getting smaller and smaller.

 

If the owners included some of their other sporting interests as part of the guarantee then the Texas Rangers and Dallas Stars are to be sold so they can no longer be included.

[Kennys_spell]

...in the middle of July, said Broughton. So where are they? Are they with the spade in the ground and Snoogy Doogy somewhere?

 

What - do you actually expect the club to list all the bids received for the club before deciding which bids to shortlist?

 

Jeez!

[Albertini]

Regarding the personal guarantees the owners have given, i think this is one of the reasons why RBS are getting twitchy because the value of the guarantees are getting smaller and smaller.

 

If the owners included some of their other sporting interests as part of the guarantee then the Texas Rangers and Dallas Stars are to be sold so they can no longer be included.

 

Yeah mate i agree. The bank no doubt have seen the things we've all seen with both the owners selling assets and only covering their debts.

 

No doubt they are also fully aware of Hick's shenanigans with the Rangers and want to ensure that they control the sale of LFC.

 

I am more more convinced than ever that it is RBS who are controlling the sale given what has come out today.

 

Whilst i get annoyed at some of the unfounded doom mongering that has gone over recent weeks given the shit we've gone through over the last three years it is easy to understand people thinking that this is further games by Hicks and we're all doomed.

 

But bad shit doesn't happen for ever and the news today from the ST further shows that they are finished at Liverpool. It's only a matter of time.

[andrew78]

Is fucking right mate. I can only hope that the amount of blood left in the corpse is not enough to attract a new set of vampires.

 

Only good thing is probs no one would agree to let them still have a share in future profits ,surely no one is that fucking stupid to get involved with them

[Jarvinja Ilnow]

Im bidding a never ending gobstopper so your all fucked.

 

A bid of nothing, but a coup de'tat involving the execution of the government and the nationalising of LFC with annual tax-payer contributions. Say, a penny in the pound towards the transfer budget; and a cut in the Defence bill of around 40% to build the new stadium. And the trains will run on time.

 

anyone disagree? hold your hand up and wait for a party member to sort you out.

[BolshieBastard]

Never ever ceases to amze me people hang on to every word about the club being sold.

 

It ISN'T going to happen anytime soon. Not by the end of this month, not by the end of the summer transfer window.

 

Believe what you want about what broughton said, only one thing is certain, there are NO bids on the table.

[bobhorse]

I dont believe there are any new bidders for LFC

It will be the same names as we have been linked with in the past

They have all looked at the books and all know the score, its now all about getting the club for as little as possible on there behalf

They will not want an open auction

I think they will all pitch at the same level and hope to be the one who is picked with the option then to raise their offer if they arnt successful in the same way the Yanks got us in the first place

If you remember GG was given the knock back and he then came back with TH and they got the club

[bonesman]

hicks is going to try and handpick a buyer to maximize earnings from the sale (think texas rangers greenberg land dispute voluntary bankruptcy court rulings)

more than likely another LBO/private investment jobby(think mid-ocean or associates) the bolded following article supports this theory..

 

Can private equity only sell to its own?

 

Publication: Retail Week

 

Date: Friday, April 9 2010

 

Simon Laffin Independent retail adviser and non-executive director

"Personally, I just wouldn't buy anything off private equity - they've had their chance. What does private equity do? They arbitrage the ignorance of fund managers. Well, we have kind of woken up."

 

So says Andy Brough

of Schroders, and he is speaking for many in the institutional investor world. Yet again we hear about the 'Debenhams effect' - a listed company taken private allegedly on the cheap, then refloated heavy with debt.

So is this the end for private equity? This year we've already seen abandoned IPOs from Merlin Entertainments and New Look, and a lot of other potentially mature private equity investments being held 'until market conditions improve'.

But we've also seen Pets at Home sold by Bridgepoint to KKR for a handsome price.

So does this mean that private equity is stuck in a self-perpetuating clique - only able to sell to itself?

How does private equity drive value and can it still create value in a credit-constrained world? Should you sell a business to a private equity fund and finally, should you buy anything from private equity?

Historically private equity returns have come from a mixture of improving profitability, higher leverage and rising multiples. These days, any gain from high debt levels looks unlikely. Not many would gamble on market multiples rising over the next few years either. So private equity is increasingly going to have to look for sales growth and operational improvement to provide those returns.

Why would you refuse to sell a business just because the buyer's private equity - or anyone else?

The argument that if private equity will pay X, then it must be worth much more than X, credits private equity with perfect vision. Why should they be all-seeing and fund managers just be 'ignorant'? Look at HMV, which rejected an offer at 210p in 2006, and whose current share price is under 90p.

Who was right there? Should public shareholders buy a private equity-backed IPO?

Ironically some institutions complain that private equity funds are dual-tracking IPOs and secondary sales to private equity.

Private equity will often pay more than an IPO would raise.

But why would they do that if other private equity firms keep on selling over-valued businesses?

In fact, secondary deals like this are quite common because private equity often prefers to buy and sell to each other because of the greater certainty, privacy and shared methodologies.

The private equity industry needs to learn from past mistakes and adapt to the new environment. It needs to earn a reputation among institutional investors for being good sellers, as well as good buyers.

 

Can private equity only sell to its own? | Banking & Finance > Financial Markets & Investing from AllBusiness.com

 

in our case were leveraged up to the eyeballs conventional potential owners such as abramovich / arab types think these type of evaluations are ridiculous, and they are.

 

I think hicks has lowered the asking price for the club but along with holding companies, skimming and such making up the shortfall which it seems is a trait

of his, as has already stated he's trying to write contracts into the sale that would give c&a a share of future stadium revenues, construction contracts etc, all this does is make the club more attractive on the surface, but a little digging brings all the shady shit to the surface and bingo they see the cost in reality is still the same,bridiculous

That's why senior seecil purslow mandelson should be questioned as to why he's still here after seemingly failing to find suitable investment, maybe he wasn't really looking ?

With him providing the investment both their dreams come true..

 

my opinion ..

Edited July 12, 2010 by bonesman

[G Richards]

Thanks for the viewpoints.

 

Bonesman - I really hope this doesn't happen. That would be a nightmare scenario.

 

Albertini - I like the sound of the scenario you play out. Hopefully it will be like that and the end will come soon.

[Galactico]

Oops, apologies, original post wasn't meant to be taken entirely seriously...more an admittedly piss poor attempt at humour in speculating about whether another 'promise' is about to be broken.

 

The one thing I take issue with in the negative responses is people saying "it's not mid-July"....mid-July is not the 15th anymore than early July is the 1st- mid-July is the ten days in the middle of the month, or it is in business calendars anyway.

 

Anyway, I'll get my coat...

[bobhorse]

Mid July but did they say what year it would be ?

 

I am now awaiting the announcment of 3 deaths that i will be celibrating with a fuck off party

1) Tom Hicks

2) George Gillet

3) Maggie Fuckofanddieyoubitch Thatcher

 

may the good Lord grant me the time to see all three gone

[The Acolyte]

Yep.

 

If there is no set price on the club then they might stick about longer.

 

Don't forget the owners did accept £450m not that long ago so personally i think we are looking at around that figure again.

 

Who was this and why did it fall through. Is this the supposed bid that fell apart due to these 2 bastards getting greedy?

[Sol18]

 

I am now awaiting the announcment of 3 deaths that i will be celibrating with a fuck off party

1) Tom Hicks

2) George Gillet

3) Maggie Fuckofanddieyoubitch Thatcher

 

may the good Lord grant me the time to see all three gone

 

Amen.

[bonesman]

Thanks for the viewpoints.

 

Bonesman - I really hope this doesn't happen. That would be a nightmare scenario.

 

Albertini - I like the sound of the scenario you play out. Hopefully it will be like that and the end will come soon.

 

Yeah mate i agree. The bank no doubt have seen the things we've all seen with both the owners selling assets and only covering their debts.

 

No doubt they are also fully aware of Hick's shenanigans with the Rangers and want to ensure that they control the sale of LFC.

 

I am more more convinced than ever that it is RBS who are controlling the sale given what has come out today.

 

Whilst i get annoyed at some of the unfounded doom mongering that has gone over recent weeks given the shit we've gone through over the last three years it is easy to understand people thinking that this is further games by Hicks and we're all doomed.

 

But bad shit doesn't happen for ever and the news today from the ST further shows that they are finished at Liverpool. It's only a matter of time.

 

Rbs aren't in control off the process, they had the chance to get out, of this when barclays offered to take over the debt £300mill i think they offered to loan till the clubs was sold, they didn't want to give up the £110 000 every single day in interest theyre getting..

conflict of interests there..

It would Be different if barcap wasn't waiting in the rears to hijack the interest payments, rbs have no leverage (forgive the pun)

Edited July 12, 2010 by bonesman

[Albertini]

Rbs aren't in control off the process, they had the chance to get out, of this when barclays offered to take over the debt £300mill i think they offered to loan till the clubs was sold, they didn't want to give up the £110 000 every single day in interest theyre getting..

conflict of interests there..

It would Be different if barcap wasn't waiting in the rears to hijack the interest payments, rbs have no leverage (forgive the pun)

 

Think it was a fund of £300 million set up for new owners - it was not available to the current owners.

 

If it was don't you think they would have snapped their hands off?

 

In fact just googled it, here's the Reuters report:

 

The Sunday Times had reported that Barclays would back a 300 million pounds 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 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.

 

They aren't too bothered about £40 million in interest against the bad publicity they are getting.

[Kopite Pete]

We talk about do the yanks really want to sell. But my main concern is really is there a buyer out there at all interested. If someone had the money and really wanted us then why are we still in limbo.

[Albertini]

We talk about do the yanks really want to sell. But my main concern is really is there a buyer out there at all interested. If someone had the money and really wanted us then why are we still in limbo.

 

There were buyers out there when the club was over priced - DIC & the Kuwati's spring to mind, now that there is no Hicks in the way i am sure there will be 2-4 interested buyers.

 

Recent rumours include Saudi's, Qatar'is, Sheik Mo, Mansour's brother and possibly a consortium (anyone heard the rumour about Cecil heading a consortium)

 

They have to go through the process of getting the best price through the auction as they will try and play one off against the other to maximise the sale price.

 

My gut feel is that one of the names already mentioned will end up buying the club.

[Kopite Pete]

There were buyers out there when the club was over priced - DIC & the Kuwati's spring to mind, now that there is no Hicks in the way i am sure there will be 2-4 interested buyers.

 

Recent rumours include Saudi's, Qatar'is, Sheik Mo, Mansour's brother and possibly a consortium (anyone heard the rumour about Cecil heading a consortium)

 

They have to go through the process of getting the best price through the auction as they will try and play one off against the other to maximise the sale price.

 

My gut feel is that one of the names already mentioned will end up buying the club.

 

yep. I've heard the one about cecil. I wonder if that's a good thing.

[bonesman]

Think it was a fund of £300 million set up for new owners - it was not available to the current owners.

 

If it was don't you think they would have snapped their hands off?

 

In fact just googled it, here's the Reuters report:

 

 

 

They aren't too bothered about £40 million in interest against the bad publicity they are getting.

 

No mate..

Barclays offered to put the money up to take pressure of the owners so they could get a price representative of the clubs stature as they saw it.

That article you posted and bolded doesn't back up your statement mate , potential new owners would have the option of refinancing with barclays if they wanted to, but they could always just buy the club from barclays without refinancing if whoever it was wanted to..

[istvankozma]

Apart from "Cecil is heading up a consortium to buy the club", is there any more to the

"Cecil is heading up a consortium to buy the club" rumour?

[coop]

No mate..

Barclays offered to put the money up to take pressure of the owners so they could get a price representative of the clubs stature as they saw it.

That article you posted and bolded doesn't back up your statement mate , potential new owners would have the option of refinancing with barclays if they wanted to, but they could always just buy the club from barclays without refinancing if whoever it was wanted to..

 

The fact they turned down this offer of refinancing elsewhere should tell you that they want out of the club.

 

I also don't think the terms offered were attractive to Hicks and Gillett although i had heard rumours of that money been offered from Barclays is for finance for the new stadium for the new owners.

 

Hicks on one of his last interviews did state i think that they were selling the club with planning permission for a new stadium with financing.