Kenny Huang linked to Liverpool takeover

[Anubis]

Is the supposed interest from Subrata Roy and Mukesh Ambani a joint venture or separate?

 

Judging by the video on The Times of India website the news report seems to indicate they are seperate. It also says the Huang bid has pole position. Ambani's camp appear to be maintaining silence, while Roy has verbally said he'll be bidding. Seems to me there is as much speculation in their media as in ours. Who the fuck knows what is going on.

[StevieH]

This could be messy.

 

Hicks and Gillett would have to mount a legal challenge to stop the sale of Liverpool against their wishes. And that scenario now seems likely to materialise following Kirdi’s announcement that he has agreed a deal with the two owners.

 

A source close to the Americans said: “Liverpool will not be sold unless the deal is acceptable to the current owners. Their valuation of the club remains unchanged and it is ludicrous to think that any bid will be accepted that doesn’t meet this criteria, regardless of the make-up of the boardroom.”

[Guest Numero Veinticinco]

If we sell to Kirdl, we're fucked.

 

How do you know this? I'm not saying that it isn't true, but if it has won over the support of Broughton, it might imply that it isn't as bad as is suggested.

[Sinos]

Good assessment. Not a personal fan of his but hw should be fine as an owner. Subrata Roy on the other hand is an utter crook and shouldn't be touched with a bargepole.

 

Full text: Times Exclusive: India's richest man wants to buy Liverpool

 

And here are a couple of articles on why we should swerve Roy

 

BBC NEWS | South Asia | 'Missing' Indian tycoon surfaces

 

Businessworld - Saving Sahara

[Red Phoenix]

A source close to the Americans said: “Liverpool will not be sold unless the deal is acceptable to the current owners. Their valuation of the club remains unchanged and it is ludicrous to think that any bid will be accepted that doesn’t meet this criteria, regardless of the make-up of the boardroom.”

 

[RobbieOR]

How do you know this? I'm not saying that it isn't true, but if it has won over the support of Broughton, it might imply that it isn't as bad as is suggested.

 

If he buys us, he'll be using a leveraged buy-out. Where have we heard that before?

[Tepid water]

If we sell to Kirdl, we're fucked.

We will be bankrupt before xmas anyway..... Will anything help?

[Ted]

All these bids remind me of the the end of Independence Day.

 

Specifically the bit where Bill Pullman asks a load of strangers if they're pilots and somehow about 70 of them are. Every man and his dog seems to be getting involved with each and every bid out of nowhere. I'm just waiting for Randy Quaid to turn up pissed and declare his involvement.

[andrew78]

Liverpool's owners Tom Hicks and George Gillett are ready to become unlikely boardroom allies in a bid to sell the club to Syrian businessman Yahya Kirdi.

 

Sunday Mirror Sport understands that the two Americans are ready to join forces once again to back Canada-based Kirdi’s £600million plan to take over at Anfield.

 

Hicks and Gillett, who fell out spectacularly in the aftermath of the failed attempt to replace Rafa Benitez with Jurgen Klinsmann three years ago, have been forced into a reconciliation by Kennth Huang’s attempt to sideline them with a takeover plan that would see his Sportscorp China Ltd group purchase the club in a deal that would pay off Liverpool’s £237m debts and force the Americans out with a tiny profit.

 

Sunday Mirror Sport revealed in April that Huang wanted to buy Liverpool. And his offer has won support from chairman Martin Broughton, managing director Christian Purslow and director Ian Ayre.

 

 

The trio are in a position to win a majority vote if Huang’s plan is put before Liverpool’s five-man board after Gillett and Hicks recruited Broughton in March to oversee the sale of the club.

 

Hicks and Gillett would have to mount a legal challenge to stop the sale of Liverpool against their wishes. And that scenario now seems likely to materialise following Kirdi’s announcement that he has agreed a deal with the two owners.

 

A source close to the Americans said: “Liverpool will not be sold unless the deal is acceptable to the current owners. Their valuation of the club remains unchanged and it is ludicrous to think that any bid will be accepted that doesn’t meet this criteria, regardless of the make-up of the boardroom.”

 

 

 

Read more: Tom Hicks and George Gillett would prefer to sell Liverpool to Syrian businessman Yahya Kirdi in opposed to Kenny Huang - News - MirrorFootball.co.uk

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Thought it was an auction more bullshit ,i think this article is full of shit no one no,s how it will pan out,still think we will have them two cunts for a few more years

[jackofdk]

That Mukesh Ambani fella at least is rich, while there are still major concerns over Huang's economical power.

 

From Ambani's wiki:

 

"As of July 2010, he is the richest man in Asia[8] and the fourth richest man in the world with a personal wealth of US$29.0 billion."

[Chinandeler Bong]

I dont think the sale of the club cannot be conducted in any other way.

True , you cant sell yer soul more than once anyways.

[Guest Numero Veinticinco]

If he buys us, he'll be using a leveraged buy-out.

 

How do you know this?

[Jim MM]

So that's their tactic, invent an impossible bid, accept it and then cry 'thieves' when the board can't accept it. Then attempt to screw us for more money through the courts when they're gone if the new owner won't give them a pay off.

Fuck 'em. I hope they do go to court and the judge calls them out as a pair of thieving cunts.

[StevieH]

Thought it was an auction more bullshit ,i think this article is full of shit no one no,s how it will pan out,still think we will have them two cunts for a few more years

 

Simon Mullock is a Hicks yes man.

[The Dude Abides]

The shitstorm is really flying from all directions now.

 

But surely, if the club can seemingly be bought in such a way that G+H make no profit...then surely any bid at all that would see them make a large profit would be highly suspicious?

[Ted]

Yeah, Mullock is Hicks' boy.

[RobbieOR]

How do you know this?

 

It was on this thread about 60 pages back.

[The Dude Abides]

Surely no bank is going to lend anyone the money to buy the club given the club is struggling as it is to pay back the debts? You'd imagine ANY bid that's successful is going to need considerable money behind it?

[StevieH]

It was on this thread about 60 pages back.

 

Can we send Broughton a link to that page.

[Dr.Filth]

Haven't seen this Indian fella yet but I imagine him to look like Dev from Coronation Street, and always will.

 

 

Knowing our luck we'll probably end up with this loon...

[Guest Numero Veinticinco]

It was on this thread about 60 pages back.

 

Yeah, so? It was rumoured that somebody thought he might do it that way. Who the fuck knows? There is now talk of Huang's bid being LBO. Who the fuck knows if that's true or not.

 

Posting that 'we're fucked' if Kirdi's offer is accepted is nowt more than guess work. We know fuck all.

 

One thing is for sure, Bamba and UEM/DVC are going to look a bit soft if all this Huang stuff turns to shit.

 

We could yet be bought out by somebody that wasn't even in the picture a day or two ago. Maybe somebody that we've not even heard about yet. Maybe not at all.

[Red Phoenix]

One card tarot check.

 

question : will huang buy liverpool within 7 days?

 

answer : The card represents the critical factor for the issue at hand. The World: Completeness and intricacy of design. A great work. Achievement, reward, and well-earned recognition. A time of success, prosperity, security and joy. May also indicate travel or a change in residence.

 

will huang buy liverpool within 7 days?

[Kopite Pete]

How do you know this?

 

Mike Jefferies I guess.

[Kopite Pete]

Too many holes are appearing in the Huang bid to be taken seriously, he seems to the the far eastern G&H. We best stay well clear. IMO.

[nigecardiff]

KOP LOSS SHOCKER

 

Liverfools paying out £10m a month in interest

 

LIVERFOOLS: Gillett and Hicks

 

By Chris Bascombe

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THE delay in selling Liverpool FC is costing the club's American owners a staggering £2.5million a week.

 

Tom Hicks and George Gillett will see their huge debts increase to £282.4m by August 31 unless they sell the club.

 

That's a shocking rise of £45.4m since their last refinancing deal in April.

 

And that's why the duo are set to walk away with nothing when Chinese businessman Kenny Huang ends their reign.

 

Under the terms of an agreement with the Royal Bank of Scotland and Wells Fargo named 'Project Langworth', the owners' are accumulating escalating multi-million pound PIK fees - payments in kind - charged at a daily rate of 9 per cent per year from April 6, 2010.

 

The rates for borrowing money this way are far higher and riskier. Interest isn't paid annually. In this case, repayments are being triggered every fortnight and their weekly interest bill is a staggering £2.5m.

 

PIK fees are at the heart of what made the Glazers' Manchester United takeover so controversial, and explain why Hicks and Gillett are being forced out by the bank. It wasn't publicly known until now that Hicks and Gillett had such an agreement.

 

The refinancing of £110m of the Americans' debts was agreed following the refusal by Hicks and Gillett to sell a 40 per cent stake to New York-based Rhone Group. If the club doesn't change hands by next Sunday, Hicks and Gillett (below) will pay another £7.5m. Their debt will rise by another £7.5m on August 31.

 

On April 5, Kop Holdings owed £237m. On July 31, they owed £266.6m. On August 31, the figure will be £282.4m.

 

Weep

 

A Liverpool spokesman said: "This simply highlights why a sale is in everyone's interest."

 

Liverpool fans can only weep at the thought of how that £45.4m since April could have revamped their squad.

 

The financial implications of Hicks and Gillett refusing to accept their board's decision on who takes over are potentially catastrophic.

 

Despite this, they are privately resisting the £450m buy-out by Huang's QSL group because they won't make a penny on the deal - getting only enough money to clear their debts.

 

"There are people at Liverpool ready for the mother of all battles to get rid of them," a source told Sport of the World.

 

"But this is no false dawn. It's the endgame for Hicks and Gillett now."

 

A spokesman for Huang said: "All Kenny wants to do is close the deal and that's all he will be focused on for the next few days."

 

Huang will immediately pay off the debt. He must then commit £135.9m equity to start work on the Stanley Park stadium, and has promised a minimum £50m initial transfer kitty.