Kenny Huang linked to Liverpool takeover

[Barrington Womble]

He provided proof of funds, proof of backers a week ago.

 

Purslow was quoted on the radio on Sunday and said nobody had provided proof of funds. I know he is a lying snake, but legally he couldn't make this statement if it was not true. I would suggest you check your source of information, it sounds like you're being spun a line.

[Red-Ed]

Kenny Huang shows impatience as his Liverpool offer stutters along - Telegraph

 

 

Sources at Anfield have suggested as many as five bids were submitted in time to meet Broughton’s deadline for offers last Friday, but of those only Huang has thus far confirmed he is in talks with the club over a potential takeover.

 

But the Chinese entrepreneur is believed to be unimpressed by the slow progress of negotiations over his proposed £400 million bid to buy out current owners Tom Hicks and George Gillett despite offering Broughton and Barclays Capital, the bank appointed in April to oversee the sale process, all the documentation required to complete a Memorandum of Sale.

 

Checks carried out by the club on the provenance of Huang’s funding have returned positive results and sources have confirmed that his offer is being taken seriously by Liverpool, Barcap and the Royal Bank of Scotland, who hold the £237 million of bank debt placed on the Anfield side by the current regime.

 

Huang had initially hoped to conclude a deal in time to offer manager Roy Hodgson substantial funds in the summer transfer window, though that now appears a remote possibility.

 

Huang admitted last week he was only “50 per cent” confident of succeeding with his bid.

 

Though Hicks and Gillett agreed to a full sale under pressure from RBS and advised by Michael Klein, the former Citigroup executive, after rejecting an investment offer from the Rhone Group six months ago, it has since emerged an attempt to refinance their debt with other lenders was blocked only by a legal challenge from their own board.

[Baldi]

Kenny Huang shows impatience as his Liverpool offer stutters along - Telegraph

 

 

Sources at Anfield have suggested as many as five bids were submitted in time to meet Broughton’s deadline for offers last Friday, but of those only Huang has thus far confirmed he is in talks with the club over a potential takeover.

 

But the Chinese entrepreneur is believed to be unimpressed by the slow progress of negotiations over his proposed £400 million bid to buy out current owners Tom Hicks and George Gillett despite offering Broughton and Barclays Capital, the bank appointed in April to oversee the sale process, all the documentation required to complete a Memorandum of Sale.

 

Checks carried out by the club on the provenance of Huang’s funding have returned positive results and sources have confirmed that his offer is being taken seriously by Liverpool, Barcap and the Royal Bank of Scotland, who hold the £237 million of bank debt placed on the Anfield side by the current regime.

 

Huang had initially hoped to conclude a deal in time to offer manager Roy Hodgson substantial funds in the summer transfer window, though that now appears a remote possibility.

 

Huang admitted last week he was only “50 per cent” confident of succeeding with his bid.

 

Though Hicks and Gillett agreed to a full sale under pressure from RBS and advised by Michael Klein, the former Citigroup executive, after rejecting an investment offer from the Rhone Group six months ago, it has since emerged an attempt to refinance their debt with other lenders was blocked only by a legal challenge from their own board.

 

How do these guys call themselves business people, fuckin clowns. I must admit I am not impressed with Huangs use of spin, he sounds a bit of a chancer who is less than confident about his bid thats why he is crying to the press.

[King Emlyn]

Might not be far off with that. At least we'll know what's going on soon because this can't carry on much longer.

Oh it can, it really really can. They haven't even started with the inevitable legal challenges, injunctions etc

[Carra_is_legend]

[/b]

Oh it can, it really really can. They haven't even started with the inevitable legal challenges, injunctions etc

 

Aye

 

If anyone thinks there is no way this can drag on for longer, they are kidding themselves.

 

It may not drag on but if it has to, it has everything in place to drag on and on and on...

[Antynwa]

Why don't those convinced about the Huang bid come out and tell us why they are so convinced?

 

This is potentially the most important period in our history, and we've got people using secret fucking hand shakes, telling us how good this guy this is for us, without saying fucking anything.

 

If we get bought by Huang/Chinese Government and they fuck us over, thats it. No more protests, nothing. It's the end game.

[Duncan Clench]

Reality check... nobody really knows what's going on and no amount of speculating and debate between us internetters is going to make the slightest bit of difference. Not that you shouldn't debate it, but there's no reason to get upset or excited yet.

 

They're clearly doing everything in-house and that makes a refreshing change for me. An article, without any quotes, which is then ripped-off by other newspapers, does not mean anything.

 

Wait and see.

 

Oh, and can we close this thread down and start again please? It's playing havoc with Forum Runner.

[Russ Atmosphere]

 

Oh, and can we close this thread down and start again please? It's playing havoc with Forum Runner.

 

Can we do this for all our sanity please.

[Barrington Womble]

Purslow was asked if there was was a favourite: "No there is not, there is not. We have, as I say, just received some written bids and at this stage it would be wrong to categorise anyone as a front runner."

 

Have they proved they’ve got funds? "Not yet."

 

So if this number of bidders have all provided the evidence asked for by Broughton/Barcap - as has been claimed - does that mean they've proved they've got funds?

 

No. It means they've provided evidence, evidence that then needs to be verified. Until that verification is done, they've not "proved" anything.

 

And therefore Purslow wasn't lying in his answer to that question.

 

so as of sunday they hadn't proved anything, so why by wednesday is huang talking of walking away? because he's a chancer and a cowboy and has looked like that from very early. if he had a clue, he would know LFC not only have to take the time to verify his claims, they have to take the time to verify the claims of all bidders - yet it seems a valid thing to do to walk away in 48 hours?

[Whelan]

so as of sunday they hadn't proved anything, so why by wednesday is huang talking of walking away? because he's a chancer and a cowboy and has looked like that from very early. if he had a clue, he would know LFC not only have to take the time to verify his claims, they have to take the time to verify the claims of all bidders - yet it seems a valid thing to do to walk away in 48 hours?

 

Doesn't Broughton work with the board on Thursday? If that is the case then, Wednesday is the right time to be stating you might just walk away!

 

It isn't a sign of him being a chancer, you are just reading it that way. DIC walked away rather quickly as well, but nobody was dismissing them as chancers.

 

I am not saying that you are wrong, but you don't seem to entertaining the possibility that you might be!

[Barrington Womble]

Doesn't Broughton work with the board on Thursday? If that is the case then, Wednesday is the right time to be stating you might just walk away!

 

It isn't a sign of him being a chancer, you are just reading it that way. DIC walked away rather quickly as well, but nobody was dismissing them as chancers.

 

I am not saying that you are wrong, but you don't seem to entertaining the possibility that you might be!

 

I called DIC at the time for it. I called them since when after walking away over about 20m, they were then prepared to pay double there original asking price when someone had popped their dummy back in. It's not the way to do business. DIC were the losers last time because of this exact tactic and we ended up with those gobshites as they were the only people left at the table. If Broughton is as good as people say he is, he will ignore Huang as that is no way to do business.

[Russ Atmosphere]

If Broughton is as good as people say he is, he will ignore Huang as that is no way to do business.

 

I'm completely discombobulated as to why you think the Huang bid is such bad news. I take it you think they don't have the funds and the news stories are fallacious.

[Vincent Vega]

I'm not really a fan of Martin Samuel but he was spot on with these comments about Huang I thought:

 

Martin Samuel: Oh boy, this is what the Premier League is really all about | Mail Online

 

Huang is all hype

 

The very rich, as F Scott Fitzgerald wrote, are different from you and me. For a start, they don't mess about.

 

When Roman Abramovich wanted to buy Chelsea, there was no delay while he tried to scare the money up. He came in, did the deal, went to work the next day.

 

The same with Sheik Mansour at Manchester City.

 

There was no fanfare, no tedious round of will he, won't he?

 

These new regimes promised fabulous transfer budgets and it was obvious they could deliver because they bought the club in a heartbeat.

 

Yet weeks after Kenny Huang promised Liverpool the financial backing to compete with the richest clubs in Europe, his representatives casually dropping names such as Lionel Messi into the hype, the board are still waiting for his offer to buy the club.

 

Huang now rates his chances only 50-50, which is mystifying.

 

If the money was there to buy Messi, it was there to buy Liverpool, and if it was not, all he says is open to question.

 

The difference between Huang and Liverpool's current band of cowboys is negligible, not least as Anfield has entertained enough potless billionaires to last a lifetime.

 

We heard too much of Huang too soon.

[kop77]

^^ yes but that's because with have 2 greedy yank bastards owing us.

 

i dont blame him for not wanting to be rip off, do you

[Trumo]

The thing that really bugs me is why, if there really are wealthy consortiums out there, and they really are interested in doing a deal, do they need a front man who has, at best, tenuous links with said consortium. These front men tend to talk a lot without really saying anything, on the evidence of what we've learned thus far.

 

When we were originally for sale back in 2006, we heard a lot from Sameer al Ansari. At least he actually worked for the organisation interested in buying the club (DIC). Even if DIC sold on parts of the holding to other groups like Zabeel and Nakheel, the main man behind the bid had a genuinely strong link to the money source. Even Gillett wasn't fronting a bid on anybody else's behalf.

 

Any organisation or consortium with large reserves of wealth must have enough business savvy of it's own to be in that position in the first place. Why the need for a go-between? There is far too much smoke-and-mirrors stuff now, and all it does is provide media spotlight, and subsequent free publicity for the supposedly interested party.

 

EDIT: As I write this, that Martin Samuel article pops up, almost making the same point. Never thought I'd see the day!

[Barrington Womble]

I'm completely discombobulated as to why you think the Huang bid is such bad news. I take it you think they don't have the funds and the news stories are fallacious.

 

I don't think he has the funds. I don't think if he was genuine he would feel the need to run his campaign through the times and other publications. i don't see why he would have initially found the need to hire a PR comapny to handle all this media bullshitting for him. I don't see why everyone who was supposed ot be backing him at some point or another have attempted to distance themselves from him. I don't know what he would be bringing to the table. I don't know why you would feel so strongly about completing a deal so quickly for the sake of 1 transfer window - in fact not even one window, just a maximum of about a week.

 

I am complete "discombobulated" why anyone would think he was good only knowing him through the media. He appears everything I wouldn't want in an owner.

[redsfan]

Liverpool FC takeover deal unlikely this month as due diligence continues

Aug 19 2010 by Luke Traynor, Liverpool Echo

Comments (2)Recommend (1) The Shankly Gates at Anfield 300

LIVERPOOL FC is unlikely to be sold before the transfer deadline of August 31, the ECHO understands.

 

And any deal could take at least another two months as the Anfield club carries out due diligence on the bids received.

 

Those close to the process estimate any official announcement may even extend beyond the October 6 deadline, when RBS could call in their £237m debt, rather than broker a further re-financing deal.

 

Reports this morning suggested Hong-Kong-based bidder Kenny Huang is growing impatient and has delivered an ultimatum to Anfield bosses.

 

But insiders said no communication expressing impatience has been made to Liverpool as the board hunts for an investor to clear the debt, finance a new stadium and strengthen the playing squad.

[Carra_is_legend]

I don't think he has the funds. I don't think if he was genuine he would feel the need to run his campaign through the times and other publications. i don't see why he would have initially found the need to hire a PR comapny to handle all this media bullshitting for him. I don't see why everyone who was supposed ot be backing him at some point or another have attempted to distance themselves from him. I don't know what he would be bringing to the table. I don't know why you would feel so strongly about completing a deal so quickly for the sake of 1 transfer window - in fact not even one window, just a maximum of about a week.

 

I am complete "discombobulated" why anyone would think he was good only knowing him through the media. He appears everything I wouldn't want in an owner.

 

Aye.

 

I get the feeling that people started to dislike Kirdi just because he was pictured with Hicks and Gillett. And when one of the so-called bidders is hated, naturally, again another "so called" bidder will look nice, rich and all that.

 

As I posted yesterday, if he has the backing of CIC, there is no excuse for his proof of funds being "there or thereabouts". Just show where the money is or shut the fuck up. If he has really shown the proof, why not come out and say that through his PR company? Instead of "Huang is ready to walk away" article in the Times and other newspapers.

 

Huang has atleast done as much in the press publicly as Kirdi. Except the solarium bit.

Edited August 19, 2010 by Carra_is_legend

[Whelan]

I don't think he has the funds. I don't think if he was genuine he would feel the need to run his campaign through the times and other publications. i don't see why he would have initially found the need to hire a PR comapny to handle all this media bullshitting for him. I don't see why everyone who was supposed ot be backing him at some point or another have attempted to distance themselves from him. I don't know what he would be bringing to the table. I don't know why you would feel so strongly about completing a deal so quickly for the sake of 1 transfer window - in fact not even one window, just a maximum of about a week.

 

I am complete "discombobulated" why anyone would think he was good only knowing him through the media. He appears everything I wouldn't want in an owner.

 

He needs the Press, because he is reported to be dealing in behalf of the Chinese Government! And all the awkward shite that involvement of that kind brings.

 

Everyone uses PR, again Barry, DIC used them when they were talking over the club, the Redknights are using PR to enable them to take over United, using PR is not indicitive of someone lacking funds. It is just as relevant to suggest that he is fully aware of how this is going to play out, and where it is going to be played out and has come prepared.

 

And I don't see anyone saying that they are now not backing him! CIC have been quite evasive about their involvement, which suggests there is involvement of some kind, if they were not involved you would be in no doubt that they are not involved.

 

Nobody, and I mean nobody, has come up with conclusive proof that he does not have the funds, just lots of people reading between the lines and reading certain phrases from a particular perspective and that Martin Samuel column is a pile of shite, sorry but it is, using a multi billionaire as an example of how you run a club professionaly is irrelevant to say the least!

[Benitaur]

I'm not really a fan of Martin Samuel but he was spot on with these comments about Huang I thought:

 

Martin Samuel: Oh boy, this is what the Premier League is really all about | Mail Online

 

Huang is all hype

 

The very rich, as F Scott Fitzgerald wrote, are different from you and me. For a start, they don't mess about.

 

When Roman Abramovich wanted to buy Chelsea, there was no delay while he tried to scare the money up. He came in, did the deal, went to work the next day.

 

The same with Sheik Mansour at Manchester City.

 

There was no fanfare, no tedious round of will he, won't he?

 

These new regimes promised fabulous transfer budgets and it was obvious they could deliver because they bought the club in a heartbeat.

 

Yet weeks after Kenny Huang promised Liverpool the financial backing to compete with the richest clubs in Europe, his representatives casually dropping names such as Lionel Messi into the hype, the board are still waiting for his offer to buy the club.

 

Huang now rates his chances only 50-50, which is mystifying.

 

If the money was there to buy Messi, it was there to buy Liverpool, and if it was not, all he says is open to question.

 

The difference between Huang and Liverpool's current band of cowboys is negligible, not least as Anfield has entertained enough potless billionaires to last a lifetime.

 

We heard too much of Huang too soon.

 

Chelsea was sold for £140 million

Manchester City, £220million

 

Both had willing sellers

 

Supposedly Huang is bidding £400million, more than the total sub of both clubs. We still have an expensive stadium to build and a winning squad to assemble

 

Both owners of Chelsea and City may act like big shots, but they have still spent roughly £400million, which is what Huang is supposedly bidding, not including money to build a stadium and invest in the team.

 

So I don't forsee too many billionaires queueing up to see how much money they can throw away to show off.

 

This article stating "rich people don't mess about" is stupid. Why? Well, Abramovich is perhaps the most extravagant toy spending billionaire around. And the Abu Dhabi family, while not as foolish with their money as the Dubai ones, are pretty spendthrift

 

I don't forsee any other billionaires in that are that loose with their wallet.

 

I do prefer the Chinese bid compared with any middle east buyers for several reasons

 

- they have a real strong market in China. they are in it for the business of making money through marketing and promoting brand Liverpool FC

- they are not going to be a plaything of a billionaire, rather a well run business

 

I don't think they are dumb. I just think after the owners keep fucking them around, they will (and have) just go and put the offer on the table to the bank and wait for the loan to come due.

[Russ Atmosphere]

I don't think he has the funds. I don't think if he was genuine he would feel the need to run his campaign through the times and other publications.

 

Fair enough, it's hard to see through all the misinformation from all parties. What I cannot understand though is what The Times would gain by getting so behind the Huang bid if there's the smallest doubt that he's a bullshitter. I'm certainly incapable of sifting through the shit so I'm going to stop reading about it all and follow the football instead.

[Barrington Womble]

Aye.

 

I get the feeling that people started to dislike Kirdi just because he was pictured with Hicks and Gillett. And when one of the so-called bidders is hated, naturally, again another "so called" bidder will look nice, rich and all that.

 

As I posted yesterday, if he has the backing of CIC, there is no excuse for his proof of funds being "there or thereabouts". Just show where the money is or shut the fuck up. If he has really shown the proof, why not come out and say that through his PR company? Instead of "Huang is ready to walk away" article in the Times and other newspapers.

 

Huang has atleast done as much in the press publicly as Kirdi. Except the solarium bit.

 

My view on this is simple - if I have learnt anything from the last 3 years is to question everything. If after questioning it it appears too good to be true, it probably is and they are lying. This is not just about C&A, it has been some of the pathetic efforts from the likes of DIC and later Maktoum himself to buy the club.

 

Any new owner will be judged on his actions. All I see from Huang is talk - but what worries me is why does he need to keep talking? Shut the fuck up, get on with your deal and if you want to win the fans over, do so by being a decent owner - and by the way in the main keep your fucking gob out of the press then too.

[Whelan]

My view on this is simple - if I have learnt anything from the last 3 years is to question everything. If after questioning it it appears too good to be true, it probably is and they are lying. This is not just about C&A, it has been some of the pathetic efforts from the likes of DIC and later Maktoum himself to buy the club.

 

Any new owner will be judged on his actions. All I see from Huang is talk - but what worries me is why does he need to keep talking? Shut the fuck up, get on with your deal and if you want to win the fans over, do so by being a decent owner - and by the way in the main keep your fucking gob out of the press then too.

 

Can't disagree with to much of that!

[Anny Road]

Chelsea were purchased the day before they would have gone bust and Mancity fot the price of Gerrard and Torres. Not really the same game here.

Edited August 19, 2010 by Anny Road

[Whelan]

Chelsea were purchased the day before they would have gone bust and Mancity fot the price of Gerrard and Torres. Not relly the same game here.

 

Exactly! But that is the level of analysis from our Media, and why, in my opinion, PR is not such a bad thing!

 

The Parasites would never have been in a position to take over the club without the help of Mihir Bose, and If I ever see that cunt I will fuckin beat him to death with Tom Cannon!