Kenny Huang linked to Liverpool takeover

[Captain]

What does the banner say? I can't see it in work.

 

It says, over the figures of Gillett, Hicks, Purslow and Broughton:

 

PLAGUE, FAMINE, WAR AND DEATH

FOUR LIARS OF THE APOCALYPSE

 

GET OUT OF OUR CLUB

[Albertini]

Just so everyone is clear on this for RBS to take control of the club without the consent of the shareholders will involve putting the club into administration and issuing a formal demand for the outstanding monies

 

However if the bank can negotaite with the owners then they could take the club over without going into administration. Some part of this negotiation could include agreement on the personal guarantees. The owners would want some benefit from reaching an agreement with RBS so the club doesnt go into administration. However we know the owners dont care about LFC the question is do RBS whose first priority is to get all there money back.

 

However given Hicks record for continue to play poker with the worst hand I am not hopeful such an agreement can be reached

 

Nick, no one is doubting what company law is. The point is that the process so far seems to indicate that the owners "normal" powers as shareholders appear to have been diluted as a reuslt of the default on the RBS debt.

 

I am presuming there are some kind of clauses that would kick in as a result of a breach of banking convenants and pages back it was discussed what this might entail.

 

I also questioned what would happen in the event of the owners bringing their own sale party to the table and whether that would bypass the board.

However in normal company circumstances the board cannot overule the shareholders in accepting a bid, yet this is what Broughton tells us will happen in the sales process.

 

The latest issue about refinancing is another example. In normal circumstances would the owners need to seek board approval to refinance a loan?

 

The long and short of it is that no one really knows what clauses are in play but from the evidence we have it seems that their powers have been reduced.

 

To what level and what they can and can't do we just don't know.

 

The Sunday Times talks of the RBS "taking over" the club to sell it - not sticking it into adminstration.

 

Who knows, i'm beginning to lose track of everything that is going on and being reported.

 

My personal opinion is that it's not all doom and gloom just yet and let's see what happens over the next week or so. I am sure this time next week we'll have a clearer idea of what the future holds.

 

I'd much rather take administration than any refinance to these clowns if it came down to the wire. I still don't think at this stage it will come to that but if it does we'll be better off then we are under their ownership.

Edited August 15, 2010 by Albertini

[zigackly]

What's nine points in the grand scheme of things if it got us our club back? I know I'd take it.

[Antynwa]

Some people are fucking mongs And I've had it up to here with this super fan itus people seem to be developing

 

Fuck this shite

[thompsonsnose]

Just so everyone is clear on this for RBS to take control of the club without the consent of the shareholders will involve putting the club into administration and issuing a formal demand for the outstanding monies

 

However if the bank can negotaite with the owners then they could take the club over without going into administration. Some part of this negotiation could include agreement on the personal guarantees. The owners would want some benefit from reaching an agreement with RBS so the club doesnt go into administration. However we know the owners dont care about LFC the question is do RBS whose first priority is to get all there money back.

 

However given Hicks record for continue to play poker with the worst hand I am not hopeful such an agreement can be reached

 

 

 

Ive been banging on for ages now that this is all about how RBS force the yanks out without incurring a point penalty.

We will be "bought" by the Sharjah bunch but only when it is established that they will only be clearing the debt.

 

Nobody has the money or desire to buy the club now when they know they dont have to give c&a more than they need to. (ie Nothing).

 

I think we should all be heartened by the boards actions so far.

It looks to me like rbs and the board are on the same page, and both want rid of our two dribbling chums.

[ngogswilly]

I think whoever has organised the banner deserves credit for it, but putting Broughton on it is a stupid fucking move.

 

Purslow I can live with because I think hes a dodgy fucker but Broughton has yet to do anything badly wrong and since hes the man entrusted with selling the club, calling him a liar in front of the whole world is incredibly foolish.

[1892-LFCWasBorn]

Avoided this thread for a whole day and now feel completely deflated reading that Times article.

 

Don't give a shit any more as long as the two cunts don't get a fucking single penny from us.

 

I'd quite happily take a 9 point deduction with RBS taking control.

[JMARKH]

That banner was made by moronic bitter Benitez backers, it should just have Hicks and Gillett on it.

[StevieH]

Ex-BoI boss in €450m Liverpool FC buyout bid - Irish, Business - Independent.ie

 

FORMER Bank of Ireland deputy governor George Magan’s private equity firm is thought to be one of the five potential bidders for Liverpool Football club.

 

Magan, who stood down as deputy governor last year, is one of the partners in US private equity player Rhone Group, which is understood to have expressed an interest in the club. Rhone Group owns stakes in surf and ski manufacturer Quiksilver, the Greek Yellow pages Infote and Arizona Chemicals.

 

Chinese businessman Kenny Huang and Syrian financier Yahya Kurdi have both said they were considering a bid for the €450m-valued premiership club, and Kuwait’s Al Kharafi family are also thought to have expressed an interest. An Indian consortium ruled out a bid last week.

 

Rhone Group first approached Liverpool about four months ago and was initially said to be interested in buying a 40 per cent stake in the club and providing €120m to pay down some of the Premiership team’s debt mountain.

 

The Kenny Huang-led consortium is widely seen as the front-runner for the club, which is labouring under a €290m debt largely owed to Royal Bank of Scotland. Liverpool faces a €24m penalty payment to its bankers if the club is not sold by the end of August, according to recent reports.

 

Magan was a director of Bank of Ireland for six years until his departure last year. He was appointed deputy governor in 2006. It is understood that Bank of Ireland is not involved in funding the Rhone Group.

 

However, Bank of Ireland has had strong links with the Premiership, having helped fund the construction of both Arsenal’s Emirates stadium and Wembley. Irish Nationwide was at one stage involved with lending money for the redevelopment of Fulham’s Craven Cottage ground. Earlier this year it emerged that AIB held a €100,000-per-year box at the Emirates stadium.

 

- NICK WEBB

[michaelgordon]

sorry couldnt resist, just been on football rumours to cheer myself up and found this little snippet

 

14 Aug 2010 20:21:51

My m8 in London has just phoned me now and said he is in Soho square and he has just seen the MD of DIC coming out of the FA quarters with perslow hes took pictures and is uploading them to send to me now

[StevieH]

RESULTS FOR 2009

Ranking: 1,001=

Worth: £54m

Down:

Source of wealth: Finance

 

Magan, 63, is deputy governor of the troubled Bank of Ireland, receiving a ¤164,000 salary last year. The corporate financier made about £20m from his first business, Hambro Magan, and has since worked on high-profile deals such as Ford’s purchase of Jaguar. Property assets include a castle in the Irish republic.

 

RESULTS FOR 2008

Ranking: 1,259=

Worth: £60m

Source of wealth: Finance

[zigackly]

sorry couldnt resist, just been on football rumours to cheer myself up and found this little snippet

 

14 Aug 2010 20:21:51

My m8 in London has just phoned me now and said he is in Soho square and he has just seen the MD of DIC coming out of the FA quarters with perslow hes took pictures and is uploading them to send to me now

 

He's doing well to recognise him, I'd never heard of the fella before a quick google just now:

 

Michel Gaudreau - Dubai International Capital L.L.C.

[ngogswilly]

Ex-BoI boss in €450m Liverpool FC buyout bid - Irish, Business - Independent.ie

 

FORMER Bank of Ireland deputy governor George Magan’s private equity firm is thought to be one of the five potential bidders for Liverpool Football club.

 

Magan, who stood down as deputy governor last year, is one of the partners in US private equity player Rhone Group, which is understood to have expressed an interest in the club. Rhone Group owns stakes in surf and ski manufacturer Quiksilver, the Greek Yellow pages Infote and Arizona Chemicals.

 

Chinese businessman Kenny Huang and Syrian financier Yahya Kurdi have both said they were considering a bid for the €450m-valued premiership club, and Kuwait’s Al Kharafi family are also thought to have expressed an interest. An Indian consortium ruled out a bid last week.

 

Rhone Group first approached Liverpool about four months ago and was initially said to be interested in buying a 40 per cent stake in the club and providing €120m to pay down some of the Premiership team’s debt mountain.

 

The Kenny Huang-led consortium is widely seen as the front-runner for the club, which is labouring under a €290m debt largely owed to Royal Bank of Scotland. Liverpool faces a €24m penalty payment to its bankers if the club is not sold by the end of August, according to recent reports.

 

Magan was a director of Bank of Ireland for six years until his departure last year. He was appointed deputy governor in 2006. It is understood that Bank of Ireland is not involved in funding the Rhone Group.

 

However, Bank of Ireland has had strong links with the Premiership, having helped fund the construction of both Arsenal’s Emirates stadium and Wembley. Irish Nationwide was at one stage involved with lending money for the redevelopment of Fulham’s Craven Cottage ground. Earlier this year it emerged that AIB held a €100,000-per-year box at the Emirates stadium.

 

- NICK WEBB

 

Does anybody actually know anything about the Rhone group?

[Tepid water]

So we either get sold or the bank repossesses us.

 

The big bidders will wait until we are repossessed as the bank will then sell us as junk debt.

 

They may accept offers which are less than the debt value of the club to get a return on their money. Any shortfall would be pursued from G&Hs personal guarantees.

 

Ho hum.

[TheHitman]

We are probably in a position now where there are conflicting interests if Broughton and Purslow receive commission if a sale goes through then this may well conflict with their duties as members of the board.

 

Is this what the owners will use as part of their court case. Also if we go into administration what is there to stop the owners buying the club didn't Ken Bates do a smilier thing with Leeds maybe.

 

 

You could argue this is good for those wanting to see a quick takeover but the club has been up for sale for most of the past five years and lets be honest apart from chancers we have not really had people beating down the door.

 

All in all it does not look like we will be having new owners yet.

[HJohal]

Your wrong the sale of the club has a condition that all debt is paid, including Kop Holdings. Its condition of sale.

 

This will not hold true if RBS takes ownership of the club come Oct 6th - it would be a simple matter of Hicks & Gillet defaulting on the £237M debt and RBS taking control of the asset, i.e Liverpool F.C

[Kopite Pete]

Going back to the Bascombe story, who the fuck is going to refinance them at near £300m?

[RedEagle]

Been told Huang has pulled out.

[waddy78]

Been told Huang has pulled out.

 

Good source that told you ?

[Dougie Do'ins]

Been told Huang has pulled out.

Got off at Edge Hill ?

[chrisbonnie]

Does anybody actually know anything about the Rhone group?

 

no

 

but Bank of Ireland is pretty state owned now, so that cunt couldnt have done too good of a job

[StevieH]

Been told Huang has pulled out.

 

[Trucker Paddy]

Anybody that was the boss of an Irish bank in the last decade is a fuckin crook, no exceptions

[zigackly]

Has there been one "in the know" who has actually got anything right about this?

[Byrnie]

Irish bank boss? Fuck me, I'll keep G+H thanks. All recent Irish bank bosses are crooks.

 

EDIT- Trucker beat me to it.