Kenny Huang linked to Liverpool takeover

[kacangpool]

hicks is going to miss us.

[RobbieOR]

What people need to remember regarding the new debt figures(amazing back track by some), is There wrong about one thing though. Although the £282.4m debt is technically the yanks, it will still push up the price of the club if it keeps rising. Paying off debt is condition of sale.

 

So if the club is sold we will be debt free?

[Red Nick]

Administration here we come

 

There isnt one real bidder out there

[Son of L8]

What people need to remember regarding the new debt figures(amazing back track by some), is There wrong about one thing though. Although the £282.4m debt is technically the yanks, it will still push up the price of the club if it keeps rising. Paying off debt is condition of sale.

 

Depends what you mean by price -- the value of the asset, to a sensible investor, won't increase because the debt held against the asset increases. In fact, an objective valuation could drop as a result of the debt load increasing, as the owners move closer to the reality of negative equity and the perceived leverage a prospective buyer takes from that situation.

 

What it might do is make the cunts more insistent on an unrealistic price on any sale (in order to protect their share of the proceeds, which shrinks as the debt load held against their position grows), and if they're really stubborn (which they are) make administration a more and more likely outcome. Because, if you think about it, if real investors are reluctant to make an approach at 350m, they'd be even less likely to do the higher the ask gets. So the potential "exits" from this situation get fewer in number, until all you're left with is the bank.

[The Acolyte]

With all this new news about 60M penalty clauses if the club is not sold by October if you were the bidder would you out an offer in now or when Cancer and Aids have been backed into a corner? If Iwas a bidder, I'd put a bid to cover the debt and then just sit and wait.

The greedy fucks will expect an auction it won't happen now.

They are taking the Abramovich model and working it good.

Not doing any LFC fans blood pressure any good though.

[Dan]

So Huang is only 50% certain of doing the deal, in what is effectively a two horse race at the moment hmmm.

 

if he comes out and says he is even 51% certain well then that raises the question that he is winning the 'two horse race'' ,however if he says,like he did that he has a 50% chance that means all odds are even and our friend mr.huang hasnt broke any confidentiality agreement...he spoke publicly about his interest but did he give anything away??? no....seems to me mr.huang is ALOT smarter than he is acredited for...what that statement to the magazine he gave was....im gonna win this little bidding war,and he done it without ever mentioning any of those words... :yes:

[llego]

I think we will end up sold to the Chinese but it will take a few more weeks. Just my conclusion from obsessively refreshing the thread.

[Dan]

Just to gauge some opinion, how likely is it that we´ll be placed into RBS´ ownership?

 

this is not feasable nevermind possible,if we are administered to the british state,all loans are void...the british goverment owns RBS and therefore how can it afford to put

£237m of there own equity to side without ever recieving a dime....??? liverpool will be sold by october because RBS will force the cancers hand....

if they sell now,they will recieve a bigger profit...the longer they wait,lesser the value of there asset.....financing is up..the last extension was the last,why dya think they put the club up for sale in april,shortly afterwards...its panicking time now.....WHY do you think huangs evaluation was so low....look,its going to happen..relax your muscles lads,just start getting that feeling that the torture is over...we'll be outta jail soon......really soon!

[Dan]

With all this new news about 60M penalty clauses if the club is not sold by October if you were the bidder would you out an offer in now or when Cancer and Aids have been backed into a corner? If Iwas a bidder, I'd put a bid to cover the debt and then just sit and wait.

The greedy fucks will expect an auction it won't happen now.

They are taking the Abramovich model and working it good.

Not doing any LFC fans blood pressure any good though.

 

the 60m penalty clause goes to the parent company (and who owns that??)....yet more the reason we will be sold soon..its gonna cost them more if they wait...they want out NOW...we want them out NOW....everybody wins....shame though...id love if someone did what you suggested and sit and wait!!see them leave with what they deserve...FCUK ALL!but i really just want them out NOW

[Funkasy]

Really is incredible that rich guys buying mancity, chelski, qpr and no one is in for liverpool

[Dr Arthur De Sabre]

No one has got any money or hasnt shown it yer

 

S'alright mate, I heard they're bringing it in suitcases through Malaga Airport so yer can have a quick shufty yerself and see it's all kosher - used 10's & 20's ok squire??

[Red Phoenix]

the 60m penalty clause goes to the parent company (and who owns that??)....yet more the reason we will be sold soon..its gonna cost them more if they wait...they want out NOW...we want them out NOW....everybody wins....shame though...id love if someone did what you suggested and sit and wait!!see them leave with what they deserve...FCUK ALL!but i really just want them out NOW

 

But it half looks like they're trying to take us into administration doesn't it? Why have they brought forward this Kirdi guy that's made it clear he wants two months to check everything out if not? Who the fuck takes two full months to look around and check everything? That statement is such complete bullshit so why has he said it? I keep thinking they're trying to mess the sale of the club up and drag us into admin, but I don't know why.

 

Today is gonna be a long day.

[captainobvious]

I'm gonna go into the corner now and rock quietly.

[captainobvious]

But it half looks like they're trying to take us into administration doesn't it? Why have they brought forward this Kirdi guy that's made it clear he wants two months to check everything out if not? Who the fuck takes two full months to look around and check everything? That statement is such complete bullshit so why has he said it? I keep thinking they're trying to mess the sale of the club up and drag us into admin, but I don't know why.

 

Today is gonna be a long day.

 

Is he talking about due dilligence when he says this?

I was under the impression that it was already done on a kind of one dd fits all type shenanigan

[waddy78]

But it half looks like they're trying to take us into administration doesn't it? Why have they brought forward this Kirdi guy that's made it clear he wants two months to check everything out if not? Who the fuck takes two full months to look around and check everything? That statement is such complete bullshit so why has he said it? I keep thinking they're trying to mess the sale of the club up and drag us into admin, but I don't know why.

 

Today is gonna be a long day.

 

I agree mate i just can't think why either,its over on rawk(im not a member just having a nose)that RBS have told potential new owners that the fee's owed by liverpool for refinancing and interest repayments (40m there saying over there) will not be down to them, RBS will pursue c&a for this,if thats correct (they did have a news paper article quoted) then the yanks need to get shut quick before they get another months interest on top, ive been up since 5am the excitement is killing me! lol

[WhiskeyJar]

Its going to happen, it has to happen if the yanks value money. We are their prized asset and if they want to make any profit at all they need to sell up now.

 

If not then RBS will sell us. Either way there is light at the end of the tunnel.

 

And I would like to say sorry to Silly, info has been coming think and fast sometimes, sorry you have to repeat yourself sometimes :)

[waddy78]

Its going to happen, it has to happen if the yanks value money. We are their prized asset and if they want to make any profit at all they need to sell up now.

 

If not then RBS will sell us. Either way there is light at the end of the tunnel.

 

And I would like to say sorry to Silly, info has been coming think and fast sometimes, sorry you have to repeat yourself sometimes :)

 

were their only asset i recon Hicks baseball team has been sold from underneath him and the board/delegation who forced the sale has given permission to the creditors to pursue their owed money from HSG (Hicks sport group or something)which is Hick's holding company for most of his "franchise's" funnily enough not Liverpool its as though he doesn't want any money made out of us being sucked into his other financial fuck ups i hope he gets fuck all goes bankrupt and dies (soon) poor.

[WhiskeyJar]

But it half looks like they're trying to take us into administration doesn't it? Why have they brought forward this Kirdi guy that's made it clear he wants two months to check everything out if not? Who the fuck takes two full months to look around and check everything? That statement is such complete bullshit so why has he said it? I keep thinking they're trying to mess the sale of the club up and drag us into admin, but I don't know why.

 

Today is gonna be a long day.

 

I dont think they are. In a sense taking us into administration does not favour them as they lose control over any future sale of the club.

 

Its a dicey situation if that happens for us as it would mean that RBS can either strip us down to pay off the debt or sell us.

 

Either way, the only way the yanks are favoured is if they sell the club themselves, relieve themselves from the burden of the debt and any future increments on it and make some profit in the process.

 

Thats why I think Kirdi is just there to up to up the stakes a little bit. However it will come to a point where Huang wil say "This is it, this is how much we are offering, take it or leave it...." at which the yanks I hope will accept.

[WhiskeyJar]

were their only asset i recon Hicks baseball team has been sold from underneath him and the board/delegation who forced the sale has given permission to the creditors to pursue their owed money from HSG (Hicks sport group or something)which is Hick's holding company for most of his "franchise's" funnily enough not Liverpool its as though he doesn't want any money made out of us being sucked into his other financial fuck ups i hope he gets fuck all goes bankrupt and dies (soon) poor.

 

I agree, its very poor financial management that got him in this mess in the first place. Like I said before in other threads, Karma in an unforgiving bitch and Hicks will get whats coming to him.

 

But if we are his ONLY asset then thats more of a reason to sell up now as I am guessing his has a poor credit history, which means no more loans for him in the near future.

 

We are his only hope for any kind of profit, more of a reason to sell up now.

[captainobvious]

How bad could his credit get?

I would fuckin love to see him on an ocean finance advert.

[WhiskeyJar]

How bad could his credit get?

I would fuckin love to see him on an ocean finance advert.

 

Okay did some reading and here is the gist of it:

 

What factors determine my credit score?

 

The exact formula of the FICO and other scoring models is a trade secret. However, Fair Isaac has identified five factors and the importance given to each factor. Other scoring models include most of the same factors. However, the weight given to individual factors may vary.

 

The five are (http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx):

 

* Payment history - 35%

* Amounts owed - 30%

* Length of credit history - 15%

* New credit - 10%

* Types of credit used - 10%

 

It's clear that the single most important factor is your record of paying your bills on time. The number of delinquent accounts and the length of time the account went unpaid also factor into the calculation. Your payment history may also include financial problems that have ended up in court such as bankruptcy or judgments entered against you.

 

Your Credit Score: How It All Adds Up | Privacy Rights Clearinghouse

 

Going with what is stated above, then he is well and truly fucked.

 

 

 

Excellent Credit

 

* Credit score above 800

* Excellent credit risk

* Long credit history

* Multiple established credit and loan accounts

* No negative public records

* Qualifies you for the best deals

 

 

Very Good Credit

 

* Credit score between 750 and 800

* Very low credit risk

* Credit accounts paid on time each month

* Qualifies you for some of the lowest rates

 

 

Good Credit

 

* Credit score between 700 and 750

* Low credit risk

* May have had late payments in the past

* All accounts are currently paid on time

* Standard amount of credit card debt

* Qualifies you for competitive interest rates and terms

 

 

Fair Credit

 

* Credit score between 650 and 700

* Moderate credit risk

* May have older negative public records

* May have higher credit card debt balances

* May have too many applications for new credit

* Qualifies you for decent rates, but not the best available

 

 

Bad Credit

 

* Credit score between 600 and 650

* High credit risk

* May have of high amounts of credit card debt

* May have late payments, collections, or bankruptcy records

* Difficult to be approved for standard credit products

 

 

Very Bad Credit

 

* Credit score below 600

* Very high credit risk

* Late payments, collection accounts, or public records

* Excessive applications for new credit

* Very high amounts of credit card debt

* Very difficult to be approved for new credit without a co-signer or down payment

 

 

No Credit

 

* No credit score

* Considered a high credit risk by lenders

* Have not been using credit cards and loans regularly

* May be trying to open a first credit account

* Better than having very bad credit

* Qualifies you to be approved for accounts tailored to people with no credit or bad credit

[Royal Family]

RBS look like they have tipped off broadsheets as both Guardian & Telegraph running similar stories to Times in regards penalty clauses being current owners liability..mind you made enough read the Guardian one, sickening...

 

Liverpool are not expecting any deadline day bids to buy the club• Kenneth Huang and Yahya Kirdi have yet to make an offer

• Tom Hicks and George Gillett could be hit by penalty charges

Tweet this (6)David Conn and Andy Hunter guardian.co.uk, Thursday 12 August 2010 23.00 BST Article history

Liverpool owners, George Gillett, left, and Tom Hicks, could have to pay an extra £60m in penalty charges if the club is not sold before 6 October. Photograph: Peter Byrne/PA

 

No firm bids to buy Liverpool are expected to be made tomorrow, the self-imposed deadline by which the club's chairman, Martin Broughton, said he hoped to receive solid offers. Yahya Kirdi, the Syrian businessman based in Canada, continues to express a positive interest but if, as has been claimed, his financial backers are members of the ruling family of Sharjah in the United Arab Emirates, any firm bid from him is certain to be delayed.

 

Yesterday the family announced the death at 95 of Sheikha Maryam al-Shamsi, the mother of Sharjah's ruler, Sheikh Sultan bin Mohammed al-Qassimi. All members of the family will now observe seven days mourning during which no business will be conducted.

 

The Hong Kong-based businessman Kenneth Huang said today that his consortium "have confirmed with Liverpool's board that we are interested in bidding" but he has not translated that into a detailed proposal with the proof that the money is there, which Broughton has asked for.

 

Sources close to the process confirmed today that no firm offers, with the required proof of funds, have been received, and it is not thought likely that any will be delivered tomorrow. That means Liverpool's owners, Tom Hicks and George Gillett, will be hit with another £2.5m, the penalty fee they are being charged by the Royal Bank of Scotland for every week the club is not sold.

 

Imposed on Hicks's and Gillett's Liverpool holding company, Kop, as part of the refinancing last April of £237m in loans from RBS, the £2.5m weekly penalties will, according to sources close to the arrangement, amount to an additional £60m if the club is not sold by 6 October, when the loan expires. That would mean RBS will have racked up more than £200m in interest and fees since it loaned Hicks and Gillett £185m to buy Liverpool in February 2007.

 

RBS would not confirm the £2.5m or £60m figures, but did acknowledge penalty fees are part of the loan arrangement. The accumulating fees are charged to Hicks's and Gillett's holding company, and will become due for repayment by the owners if and when the club is finally sold.

 

And here we have, quite starkly, the truth as to why RBS continues to finance the crooks and have steadfastly refused to foreclose on their loans. In other words, they have now more than covered their initial investment: that is £200m leeched out of our club, purely for the pleasure of having the two Americans as owners. When you think about it in these terms, I'd say that Ayre and Nash have done an absolutely astonishingly good job to keep Liverpool functioning for the past 48 months.

 

We're not a viable concern as a 'business' any more, and administration is almost inevitable - indeed, the longer it is held off, the less likely it is that ANY decent owner will want to come in and clear up the mess. Debts will still need to be paid off, and the biggest debt of all will be to Kop Holdings who will no doubt take legal action to recover thier monies.

 

It's time to face facts. This is why the only people interested in a takeover are chancers. It's more and more probable that we'll be going into administration whenever the bank decides that it's going to call in the loan. I wouldn't be surprised if they give it another 6 months and take another £40-60m out of the club before they finally do this.

 

Has anyone yet said thanks DM. And thanks Rick Parry, who is - of all ironies - now in charge of 'ethics' in British sport...

[Carra_is_legend]

Never mind the "going concern" and all that. We, simply, are NOT a business anymore. Not with those interest rates.

[piscinin]

I agree, its very poor financial management that got him in this mess in the first place. Like I said before in other threads, Karma in an unforgiving bitch and Hicks will get whats coming to him.

 

But if we are his ONLY asset then thats more of a reason to sell up now as I am guessing his has a poor credit history, which means no more loans for him in the near future.

 

We are his only hope for any kind of profit, more of a reason to sell up now.

 

When you travel in the circles he frequents credit history is nothing. Just a month ago Deutsche Bank and Citigroup agreed to underwrite a new company he formed to the tune of 200m US.

[WhiskeyJar]

When you travel in the circles he frequents credit history is nothing. Just a month ago Deutsche Bank and Citigroup agreed to underwrite a new company he formed to the tune of 200m US.

 

Perhaps but you can only get away with it for so long; people will start catching on to you.

 

There is still a financial chaos going on the US, you really thing that a bank will lend him any more money knowing that they might not paid back ??

 

Its like me lending money to my best friend, pays back half of that, asks for more money, pays half of that again etc etc. It comes to a point where you say: "Enough is enough...".