Looks like short term re-finance option could be available

[Marko121]

RBS ready to step in to force swift Liverpool sale - Telegraph

 

RBS ready to step in to force swift Liverpool sale

Royal Bank of Scotland may take direct control of attempts to find a buyer for Liverpool. It comes amid growing unease at the failure to remove American Tom Hicks and George Gillett ahead of next month's refinancing deadline.

 

Officially the bank supports the sales process being handled by Liverpool chairman Martin Broughton and investment bank Barclays Capital, but with just 25 days until the expiry of RBS's financing deal with the Americans, the issue is becoming acute for RBS.

Among the narrowing options being considered by executives, including chief executive Stephen Hester, is for RBS to take greater control of the process from BarCap.

 

This would simplify any deal-making process and could allow the bank to try to force Hicks and Gillett to accept a lower price for the club than the �500 million-plus valuation that looks increasingly unrealistic.

The terms of RBS's �237 million loan to the American owners expires on Oct 6, and if no buyer is realistically close to sealing a deal then the bank will have to decide whether to call in the debt, effectively forcing Hicks and Gillett out, or offer a further extension.

Neither option is straightforward, but The Daily Telegraph understands that RBS will extend the financing deal for a short period only if Broughton indicates there is a realistic chance of a deal being closed quickly after Oct 6.

The bank is extremely reluctant to step in and take direct control of the club however, hence the desire to press hard for a deal in the 25 days before the financing deadline.

Any deal remains reliant on a suitable bidder being interested in the terms on offer however, and Broughton and BarCap have been frustrated in their search for a credible buyer by the American's price expectations and the debt burden.

They began the search in April after Hicks and Gillett agreed to sell the club and to the appointment of Broughton, chairman of British Airways.

At that time the owners' loans were shifted from RBS's corporate lending arm to their "bad bank", the Global Restructuring Group established in the wake of the global financial crisis to handle its over-leveraged and problem clients.

BarCap are understood to have made a slow start in the search for new owners.

Despite a very public approach, Chinese businessman Kenneth Huang pulled out without making a formal bid amid doubts over the source of his funding, and India's Sahara Group said it was not interested in a deal "at the moment".

The US investment house the Rhone Group made a �100 million offer for a 40 per cent stake earlier this year Unless RBS can identify a new buyers they may be forced to return to the existing field offering the club at a reduced price.

To do that they will have to call time on Hicks and Gillett, a step they have so far declined to take.

[bonesman]

Just another carrot on the end of a stick to chase..

[Tepid water]

Just another carrot on the end of a stick to chase..

 

No I don't think so, I just think that if there is a serious buyer then they don't want to cut their nose off to spite their face.

 

But there isn't so it's irrelevant.

[Captain]

Rubbish article.

[edge of darknes]

Short term refinance would only be considered if the sale process was about to be concluded which is only to be expected.

 

Its not like rbs are extending finance for the sake of it.

 

Dont know why on earth someone thinks its a rubbish article though.

[Gary Mac Legend]

No-one's going to touch the club at £500 million or anything even remotely near that!

 

RBS have to call in the debt, then assume control of the club, sell it at the £237 million or we're fucked for good.

 

End of.

 

(Shame they're a bunch of spineless greedy cunts and they won't have the balls to do it. That £2.5 million + interest a week must help I guess).

[Dirk]

They're going nowhere and, as fans, we'll squark but essentially do nothing credible to oppose it.

[Redder Lurtz]

So it's not refinancing at all is it. It's a short term extension of the current deadline, providing there's a buyer in place about to tie up a deal. Meh.

[Gary Mac Legend]

If Broughton doesn't indicate a sale is likely between now and November then what? He could just say, there is a good chance of a sale being completed. Whilst Hicks and Gillet find someone else to buy the debt from RBS, thus putting us back to step 1 of everything. That's a very realistic outcome.

[TheHowieLama]

Club will be sold. If you had to lay a betting line, how much?

 

I think the over/under would be around 340.

[KopOut]

Can someone please explain wtf BarCap have to do with all this? RBS are owed money. Broughton is 'overseeing' the sale on behalf of LFC. There is a deadline on a repayment due to RBS, payable by the club (or whicherver holding company owes the debt). Why is there another predatory bloodsucking bunch of bankers also involved?

[KopOut]

If Broughton doesn't indicate a sale is likely between now and November then what? He could just say, there is a good chance of a sale being completed. Whilst Hicks and Gillet find someone else to buy the debt from RBS, thus putting us back to step 1 of everything. That's a very realistic outcome.

 

maybe BarCap?

[coop]

BarCap will want fuck all to do with Hicks and Gillett.

[KopOut]

No-one's going to touch the club at £500 million or anything even remotely near that!

 

RBS have to call in the debt, then assume control of the club, sell it at the £237 million or we're fucked for good.

 

End of.

 

(Shame they're a bunch of spineless greedy cunts and they won't have the balls to do it. That £2.5 million + interest a week must help I guess).

 

I agree with you on this. I would think at some point tho, the 2.5 million + in interest payments (being only a fictional figure of debit that can no more be paid than the orginal figure) becomes an amount so great, and so far over the clubs realistic valuation, that it defeats the purpose of making (virtual) profit on interest.

 

Surely it is obvious to RBS that the club is only worth the owed money? Mind you RBS was bailed by the Fed a couple of yrs ago, like they bailed everyone else-including the BOE.

 

RBS must really suck at banking.

[Silly season]

maybe BarCap?

 

Barcap have already responded to thar question, pretty sure the answer was "go fcuk yourself"

 

Not going to happen

[bonesman]

They're going nowhere and, as fans, we'll squark but essentially do nothing credible to oppose it.

 

Bang On..

[edge of darknes]

Can someone please explain wtf BarCap have to do with all this? RBS are owed money. Broughton is 'overseeing' the sale on behalf of LFC. There is a deadline on a repayment due to RBS, payable by the club (or whicherver holding company owes the debt). Why is there another predatory bloodsucking bunch of bankers also involved?

 

Barcrap were brought in to kick start the sale process because Purslow, although bringing an investment offer to the board, saw the owners reject it. Im not certain if RBS were involved in any sale process.

 

It was assumed by many that barcrap and broughton would arrange an immenent sale. Indeed I remember one poster publically going on about we'd have new owners in just over a month. That was at least 6 months ago.

 

Fact is, no one can sell the club while the asking price is over 350 million quid. There are no rich individuals wanting to buy football clubs right now. I suspect there are very few groups of investors who want to do the same.

[Redshadow]

Probably correct Dirk re them not going - The Only thing that will move them for certain is a combination of the Four B's or ALL of them - The B's? Well They are as follows; Balaclavas, Bats, Bombs or B O Y C O T T S. These are the ONLY things those B*stards will be Forced to move/listen to us by. The sooner we use them? The better for Liverpool FC.......

[Redshadow]

And to anyone reading my posts thinking I sound stupid? Well do so if you wish - It Is a free country after all. But I'll TRY and explain my viewpoint for YOUR benefit no? That way you can see just Why I write such stuff. The other reason being of course that like Cato in Ancient Rome, I believe that repetition of a message WILL get it through eventually to those who matter. Cato? He was the one who repeated to the Roman Senate Non-stop for about 2 decades One message only - "Carthage MUST be destroyed" even when they were Not at war with Rome? He repeated it Ad Nauseum to the Senate no matter WHAT was being discussed for more than 20 years. Until? Carthage was Utterly destroyed and it's Empire wiped from history - I'm sure you can see just What I think we should do to the Yanks here no? They must be Driven out of LFC, Not allowed to walk away - They Must be punished for what they've done and punished by Us, the Fans to such an extent that ALL memory of them here is wiped for good once they Are driven out - and they WILL be. Basically I always believe that the More people I can turn directly against those two (i.e. wanting to act Directly against them however they can?) the better.

 

Anyway; With regard to H & G? The way I see it is thus; Basically, THEY suspended the rules of decency and etiquette when they took over us in order to use us for their own nefarious ends - It's WAY past time We were the ones who dropped all niceties now and beat them at their own filthy game. We need to be streetwise now, CRUSH them at their own game (use Anything to get what you want and stuff the rules in case anyone didn't know by now) And that we eject them on Our terms by adhering to NO rules bar Yanks Out by AMN (Any Means Necessary) instead. If we do that? They won't be able to get out fast enough. But DARE we do it? Dare we go after them and take them on with Everything we have? Holding Nothing back and ignoring everything bar the need to get rid of them? We shall see soon enough.............

 

NB Just WHY don't our fans do it? Why has none of them gone OTT by now and attacked those two leeches Properly? (I.e. Directly) I'm AMAZED they've not been gone after in person by now. A fact that has probably emboldened them to hang on here as long as they have. However, SURELY it can't go on? Maybe they've stretched their luck out to far now though.

 

It might just be possible that If they Don't go soon maybe by October 6th? I've a feeling that This time? Their luck in this respect WILL run out. There's Many, Many people amongst our fans who feel the hatred I do to them I'm sure and MANY more willing than me to act upon it and Against H & G directly - Personally, I wouldn't want to be Either of the disgraces that have 'owned' us since 2007, put it that way. I wouldn't want to be them at all. Someone IS going to find them sooner or later and WHEN they do? I suspect it Won't be pretty but it's almost inevitable methinks - Only a matter of time now before it happens..........................

Edited September 11, 2010 by Redshadow

[Tepid water]

WHY don't you do it then?

[Red Baron II]

Probably correct Dirk re them not going - The Only thing that will move them for certain is a combination of the Four B's or ALL of them - The B's? Well They are as follows; Balaclavas, Bats, Bombs or B O Y C O T T S. These are the ONLY things those B*stards will be Forced to move/listen to us by. The sooner we use them? The better for Liverpool FC.......

 

Redshadow, while I share your feelings about forcing H&G out - preferably with a massive financial loss - your post above is bordering on insane. Are you really suggesting that supporters resort to terrorism? Bombs??? I thought I had seen & heard it all over the last 40 years, but that tops the lot.

 

LFC was built on a foundation of pride and dignity. The yanks have done their best to erode that over the last few years and it is only us - the supporters - that are keeping those values alive. If we resort to violence, bomb threats and the like, as you seem to be suggesting, then for me that last remaining shred of dignity is gone.

 

Stirring up 'the angry mob' can only have one result, and it's not a good one. People could die. People could end up being jailed for decades, not to mention the sanctions the football authorities could impose on the club if somebody did something stupid at a match.

 

There have been too many tragedies associated with Liverpool FC and I for one have had enough of 'my' club making the headlines for the wrong reasons. I want H&G forced out, but lets find a way of doing it that allows us to maintain our pride and dignity and not resort to behaving like mindless savages. If you really want to play with bombs, go and join the army and stay well away from football grounds where me and my kids go to support the team I love.

[stringvest]

RS is standing on the edge. Jump, you fucker, JUMP!

[Redder Lurtz]

RS is standing on the edge. Jump, you fucker, JUMP!

 

Red Shadow plots his next dastardly move:

 

[Redshadow]

Red Baron - Don't be stupid man - Of Course I don't WANT terrorism/bombs/guns etc to get rid of those f*ckers - I'm just pointing out that THIS is the level we'll probably have to get close to in order to out 'chicken' them and scare them off as it were. As to the rest of your ahem 'reply'. I Tried to join the Marines when 16 but was refused due to asthma - many years ago now. I also have a son of my own and want to take him to peaceful football grounds to but is it WORTH it with regards to Liverpool if we DON'T have a club left to take our little lads to? We Won't if we don't play these two at their own game Soon - That's what I'm trying to say - It's the Only way we'll beat them in the end. Oh yes, and THEIR game? Recognises nothing like any rules or scruples. Never mind those we've adhered to all this time while they LAUGHED at us for doing so.

 

In short? Well, at the moment they're effectively engaging in a monumental game of 'Chicken' with the Liverpool support almost Daring us to Make them blink first and go but? Since we are "going by the rules" as it were whilst they follow none? Then basically, WE are the ones blinking first and I just firmly believe after all that's gone that the only two ways we'll get rid of them is either by a Mass boycott OR if some of our support go off the deep end - not even that, words MIGHT be enough if delivered correctly (I seem to remember in the mid 90's a few City fans once did something similar re Peter Swales who used to run them and? He sold within weeks after holding out for years) - I've made clear that this is a last resort in most of my posts regarding the subject but? A last resort is what we're now reduced to - It really IS desperate measures time unforunately..................

 

NB As to resorting to "something stupid at a match"? Maybe nothing like that Will happen to H & G but actually, hasn't it been tried ALREADY? And not just by ANY fans either but by the SOS group who I seem to remember had Hicks Car blocked Physically last season from getting to the Arsenal Match AND arranged it for him to be besieged in the Directors Box throughout the Bolton Game as well - Are Those two little occurences stupid enough for what you wrote above? Also, THEY were supposed to be 'official' -indeed from SOS as it were - Think what might happen if someone a little Angrier acting on their own or mayhap With SOS got to arrange something like that - You say we shouldn't allow it to happen no?

 

Well it almost HAS already as that shows. Also, I KNOW I'm not the only one who discusses such measures on here - I've seen other posts like "we need violence" or "balaclavas and bats are needed" in the last week on this very forum - Sometimes from posters that no-one would EVER suspect of such thoughts. I've seen measures like pitch invasions and illegal sitdowns ON the pitch at Anfield planned in other Forums - You think I am the only one with all such thoughts? Well, I'm not - I'm just a little more vocal than most about them but I'm FAR from the only person thinking along these lines believe me.

 

As it is, I like most believe such measures to be ONLY applicable as last resorts - That we're considering them as legitimate now should tell you all you need to know about how close to such resorts we have been driven by the twin vampires. You may not like it and indeed, I abhor the idea of such measures as well but short of a FULL boycott? They will listen to NOTHING else and I just feel that unfortunately, SO many others are starting to think that way? That one of them (or more) WILL act on it sooner or later and there's little we can do to stop it now - the time for talking to those two is over long since. I believe they ARE going to get what's coming to them now via RBS OR an angry fan/mob - One way or another, they ARE going from Anfield soon, it's just a question of how they'll be driven out and unfortunately? The one is now every BIT as likely to happen as the other...............

 

NNB Hicks good friend George Bush Jr resorted to threats/bribery etc in Florida during the 2000 US Elections to benefit HIMSELF No? So it SHOULD be something Tom Hicks is VERY familiar with and he can NOT complain if it's directed at him now after all he's done no?

How does the saying go? "When Dictatorship is a Fact? Revolution becomes a right". Well? Tom Hicks IS acting like a Dictator with regard to our sale so? Our fans have the Right to revolt in EVERY way possible and if that involves going all the way to Direct Action AGAINST Hicks? Then so be it. He's sown the wind, HE can damn well reap the whirlwind....................