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Kenny Huang linked to Liverpool takeover


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Roy hasn't had to replace any main players this season, Rafa had to replace 3 important players in 2009.

 

I'd say it's less of an issue this year actually.

 

It's more of an issue imo, because we have stood still in the transfer market in relative terms while other teams have been spending a large amount of money. In other words, the value of their squads have improved while arguably ours hasn't.

 

And let's not forget why Benitez had to replace Alonso and the others.... this argument has been done to death.

 

While we continue to spend zilch, we'll be worse off with every passing transfer window. Fortunately, we'll get finance before the next transfer window, and our performances will improve without money before then.

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A normal Corporate Finance transaction would progress as follows:

 

1. Corporate Financiers (CF) (Barclays Capital) begin the 'grooming' business - grooming the business for sale by focusing on the areas of the business that can be managed short term to make it more appealing to investors i.e. the appointment of an interim Chairman to oversee this process - highly likely that removing Rafa was part of the 'grooming' for a potential sale - this is classic CF activity pre-sale

 

2. Corporate Financiers identify potential buyers and require them to sign an NDA (non-disclosure agreement)

 

3. Once an NDA has been received then the potential investor is supplied with some but not all financial and corporate information in order for them to make 'indicative' bids. This allows the CF's/vendors to identify who are serious and who are not so serious bidders. This type of information supplied is normally forecast financial and business information which is drawn up by the CF's in consultation with the Board/Owners (it's usually called a sales prospectus)

 

4. Once 'indicative' bids have been received and considered then it is time to choose the 'preferred' bidder. This decision is taken in consultation with the CF's and the Board/Owners of the business (this decision is usually not all about the money - believe it or not a lot of people care who their business is going to and are happy to take a lower price from a higher quality investor - it's all relative of course when you're deciding between £95m or £100m - you're still getting a lot of fucking mulah either way but people do care about the purchaser. In our case this is clearly not so for G&H but would be for the other 3 as their reputation depends on it).

 

5. Once the preferred bidder is chosen they then sign an 'exclusivity' agreement and the process enters exclusivity. This is when due diligence (DD) begins, hopefully for both sides. Traditionally due diligence has been a process carried out by the purchaser to make sure the figures are not a lot of bullshit. More commonly vendor due diligence is being carried out to ensure that the purchaser is legitimate.

 

6. Once DD has been completed then the purchaser will usually negotiate their purchase price because of the results of the DD report (the DD report is prepared by another bunch of CF's).

 

7. Final agreement is then reached on the deal between both parties and a legal document is drawn up to secure the transaction.

 

So basically people are fretting because last night's statement was a bit inconclusive - well that's par for the course in a CF transaction. But it shows how far down the road we are - we are within days or hours I would say of preferred bidder status and that means a deal is as good as done provided there are no horrors uncovered by the DD work.

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The one surprising thing that seems to be reiterated and I find this pleasantly surprising. Is the issue of we will be sold to those who offer the best long term interest to Liverpool FC.

 

Does anyone know how they are planning to police this, or is it as I suspect just lip service. I would doubt bar saying to investors what are your plans they are not going to put such contractual obligations in the sale and it will ultimately be the most attractive offer to the debtors and the Owners if one is forthcoming that will precipitate a sale.

 

If they are not going to put such contractual obligations in why bother mentioning such information it does seem rather misleading.

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It's more of an issue imo, because we have stood still in the transfer market in relative terms while other teams have been spending a large amount of money. In other words, the value of their squads have improved while arguably ours hasn't.

 

And let's not forget why Benitez had to replace Alonso and the others.... this argument has been done to death.

 

While we continue to spend zilch, we'll be worse off with every passing transfer window. Fortunately, we'll get finance before the next transfer window, and our performances will improve without money before then.

 

I think it does help that Roy wasn't here last season though. Sometimes you see the bigger picture when you're looking from the outside in.

 

Add that to the fact I'm sure some people were pissed off at Rafa for forcing out Xabi when he was probably very popular and had such a great season 08-09.

 

I don't think losing Mascherano will have anywhere near the effect losing Xabi did.

 

I think we can get away with trimming the squad of people like Riera/Benayoun/Babel etc for this season but next season it will become more of a problem.

 

Also It's easier for Roy to come into the team with the owners & board behind him rather than against him.

 

Some of those things were Rafa's fault, some weren't, but I think how much we spend isn't as important as how we line-up with the current players.

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I think it does help that Roy wasn't here last season though. Sometimes you see the bigger picture when you're looking from the outside in.

 

Add that to the fact I'm sure some people were pissed off at Rafa for forcing out Xabi when he was probably very popular and had such a great season 08-09.

 

I don't think losing Mascherano will have anywhere near the effect losing Xabi did.

 

I think we can get away with trimming the squad of people like Riera/Benayoun/Babel etc for this season but next season it will become more of a problem.

 

Also It's easier for Roy to come into the team with the owners & board behind him rather than against him.

 

Some of those things were Rafa's fault, some weren't, but I think how much we spend isn't as important as how we line-up with the current players.

 

I agree with all of that, except for your 4th paragraph. I'm virtually certain we'll have new owners (and money available) in before the next transfer window, so getting rid of deadwood now isn't going to hurt us imo. The tools are there to see us through until January. For me, the most important thing by far is how the manager motivates and organises the resources at his disposal.

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A normal Corporate Finance transaction would progress as follows:

So basically people are fretting because last night's statement was a bit inconclusive - well that's par for the course in a CF transaction. But it shows how far down the road we are - we are within days or hours I would say of preferred bidder status and that means a deal is as good as done provided there are no horrors uncovered by the DD work.

 

People are fretting because we went through that same process with Merill Lynch and Rothschild and then Purslow did similar and now here we are again with those same bullet points and despite Barcap's best efforts at "grooming"/identifying blue-chip investors, we've had proposals from a guy who owns some pizza shops and another guy who owns a sunday league in China. In the mean time RBS are butt fucking us dry.

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I agree with all of that, except for your 4th paragraph. I'm virtually certain we'll have new owners (and money available) in before the next transfer window, so getting rid of deadwood now isn't going to hurt us imo. The tools are there to see us through until January. For me, the most important thing by far is how the manager motivates and organises the resources at his disposal.

 

Spot on from the Stringfellow

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People are fretting because we went through that same process with Merill Lynch and Rothschild and then Purslow did similar and now here we are again with those same bullet points and despite Barcap's best efforts at "grooming"/identifying blue-chip investors, we've had proposals from a guy who owns some pizza shops and another guy who owns a sunday league in China. In the mean time RBS are butt fucking us dry.

 

I think this time is different though. And I'm not sure that RBS are butt fucking us. The club won't be left with any debt when new owners take over. Not at that precise moment anyway :)

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I think this time is different though. And I'm not sure that RBS are butt fucking us. The club won't be left with any debt when new owners take over. Not at that precise moment anyway :)

 

It may not get left on the books but it will have to be paid and that diverts cash away from investing in something useful like players or stadiums.

 

BTW I hope you are right about this time, but I'll be honest the calibre of the investors that Barcap and Broughton have been able to dig up is way below my expectations. In fact I'm not even sure they've identified anyone new have they? All the bidders have been in touch before.

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I agree with all of that, except for your 4th paragraph. I'm virtually certain we'll have new owners (and money available) in before the next transfer window, so getting rid of deadwood now isn't going to hurt us imo. The tools are there to see us through until January. For me, the most important thing by far is how the manager motivates and organises the resources at his disposal.

 

I don't think getting rid of Mascherano will hurt us much either, providing Roy gets a left back and a striker in for that money, we might even be stronger than we were when the transfer window opened because J.Cole certainly is an improvement on Riera & Benayoun.

 

The only thing Hodgson needed to do in this transfer window was to secure Torres & Gerrard's future, so in that sense this has been a brilliant transfer window, regardless of what our net spend is.

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I don't think getting rid of Mascherano will hurt us much either, providing Roy gets a left back and a striker in for that money, we might even be stronger than we were when the transfer window opened because J.Cole certainly is an improvement on Riera & Benayoun.

 

The only thing Hodgson needed to do in this transfer window was to secure Torres & Gerrard's future, so in that sense this has been a brilliant transfer window, regardless of what our net spend is.

 

 

 

Bollocks. Losing Mascherano will make us weaker, without a doubt. We´ll be weaker than we were last season, he´s a massive player for us, our best outfield player last year. World Class and consistent, I loathe that he wants to leave. Don´t be under any illusions we can emerge stronger if he leaves, and we sign fucking Paul Konchesky and Loic Remy or Gignac. You´re deluded if you think so.

 

I´m really pissed off, money has quite clearly disappeared again, Broughton and co. lied about that substantial transfer budget, I wish someone would stab Tom Hicks through the throat so he can´t lie again like saying we have a substantial transfer budget and that it will be a big summer. Roy is yet to sign a recognised striker, so we have Agger or Insua at left back with fucking N´Gog leading the line against Arsenal of all teams!? Jesus Wept.

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I think it does help that Roy wasn't here last season though. Sometimes you see the bigger picture when you're looking from the outside in.

 

Add that to the fact I'm sure some people were pissed off at Rafa for forcing out Xabi when he was probably very popular and had such a great season 08-09.

 

I don't think losing Mascherano will have anywhere near the effect losing Xabi did.

 

I think we can get away with trimming the squad of people like Riera/Benayoun/Babel etc for this season but next season it will become more of a problem.

 

Also It's easier for Roy to come into the team with the owners & board behind him rather than against him.

 

Some of those things were Rafa's fault, some weren't, but I think how much we spend isn't as important as how we line-up with the current players.

 

Xabi was a massive loss as was Hyppia, but I think we replaced Riera and Yossi with as good if not better players, if we shifted out Insua and Babel and got Konchesky and £12m for a Striker we'd be in great shape, and that would be better if Mascherano stayed

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Bollocks. Losing Mascherano will make us weaker, without a doubt. We´ll be weaker than we were last season, he´s a massive player for us, our best outfield player last year. World Class and consistent, I loathe that he wants to leave. Don´t be under any illusions we can emerge stronger if he leaves, and we sign fucking Paul Konchesky and Loic Remy or Gignac. You´re deluded if you think so.

 

I think Poulsen is an adequate replacement for Mascherano, Insua & N'Gog, unfortunately, weren't for their respective positions last season.

 

Xabi was a massive loss as was Hyppia, but I think we replaced Riera and Yossi with as good if not better players, if we shifted out Insua and Babel and got Konchesky and £12m for a Striker we'd be in great shape, and that would be better if Mascherano stayed

 

Think the weakness in Rafa's management was he didn't notice how some personalities affected the rest of the team. Losing characters like Hyypia & Xabi in 1 season was probably a massive blow to the players.

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It may not get left on the books but it will have to be paid and that diverts cash away from investing in something useful like players or stadiums.

 

BTW I hope you are right about this time, but I'll be honest the calibre of the investors that Barcap and Broughton have been able to dig up is way below my expectations. In fact I'm not even sure they've identified anyone new have they? All the bidders have been in touch before.[/QUOTE]

 

Is quite right. And, surely, a reflection of the debt and the costs of the stadium and investing in the club. I guess the only hope is that there is a bidder who is slipping under the radar of media coverage, but it's not likely given how 'leaky' the process has been.

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I think Poulsen is an adequate replacement for Mascherano, Insua & N'Gog, unfortunately, weren't for their respective positions last season.

 

 

I don´t, I think Masch is World Class, way above Poulsen. Against the likes of Arsenal, Man Shitty, Spurs, Chelski and Man Utd, we need a player like Masch badly. We´ll drop points because of losing Masch, we´ll definitely be weakened. Especially if we spend the money on fucking Konchesky and some shite striker.

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The absence of any prospective buyers in the Liverpool directors' box this afternoon raises the prospect of the club's unpopular owners Tom Hicks and George Gillett remaining in place for the season.

 

A club statement released on Friday talking of 'proposed bids' rather than actual bids signalled increasing pessimism that the club will not be sold by October, when the Americans are due to repay £237million in loans to the Royal Bank of Scotland.

 

So far, speculation about interest from four different parties, including Syrian businessman Yahya Kirdi and Chinese investor Kenny Huang, has amounted to nothing.

 

Significantly, none of the proposals met chairman Martin Broughton's or managing director Christian Purslow's insistence that new owners have to deliver investment on players and a new stadium.

 

None of the groups linked with a takeover have asked to attend the opening game against Arsenal at Anfield, and Hicks and Gillett are believed to both be in America this weekend.

 

The RBS may have to renegotiate Hicks' and Gillett's loans in October if the club is not sold. The only alternative would be to take over the club if the debt is not paid, which would be highly unpopular if it led to a points deduction for the club.

A statement released on the club's official website tried to lower expectations of a quick sale. It read: 'The Liverpool FC board has reviewed a number of proposed bids for the club. The board will continue to act in the best interests of Liverpool Football Club and its supporters, doing all that it can to ensure that the club is ultimately sold to a buyer who has the resources and real commitment to give it a long-term, stable and secure funding position for its plans.

 

'The sale process is continuing. However, its timing and outcome remain uncertain.'

 

 

Read more: Liverpool owners Hicks and Gillett in no hurry to quit Anfield | Mail Online

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The absence of any prospective buyers in the Liverpool directors' box this afternoon raises the prospect of the club's unpopular owners Tom Hicks and George Gillett remaining in place for the season.

 

Read more: Liverpool owners Hicks and Gillett in no hurry to quit Anfield | Mail Online

 

how could there have been any buyers in the directors box this afternoon,we didn't play:whoops:

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how could there have been any buyers in the directors box this afternoon,we didn't play:whoops:

 

I presume the article will be in the Mail on Sunday. Either way I wouldn't expect to see any serious investors in the directors box until they have acquired the club.

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