two new bids to buy the club..

[Faustus]

i'll help

it will always be uncool to wear a Red Sox hat.

 

I know the square root of fuck all about baseball apart from Babe Ruth, Carl Yastrzemski and Fenway Park, but the Red Sox are boss. Sided with them ever since the Yankees signed that marketing agreement thing with the Mancs about ten years ago.

[taliesin08]

Can't someone just kill these pair of pricks.

[J B]

Fucking hell.

 

Sweet Jesus.

 

Etc.

 

The statement on the offal is unbelievable. Surely the 3 non owner directors must be confident the two cunts cannot remove any of them?

 

It is also interesting that they are trying to remove TWO directors, not ONE. Removing even ONE will give them a majority so why TWO?

 

 

 

I wonder if the deal agreed with RBS in April in return for the refinance was that Broughton would come on to the board and oversee a sale. Therefore the owners are not confident they can just remove Broughton easily from the board. But perhaps they think they can remove the other now-hostile directors?

 

This is pure speculation by the way

[Carra_is_legend]

Also with his own board in place Hicks can refinance against the clubs assets, ie the whole club and everybody in it.

 

Begining of the end If he wins.

 

That doesn't make sense though, Al. We know one refinance attempt was already blocked. If the board had the power to block once, why can't they do it again.

 

It is going to end one way or other. New owners and we will have a club. Same owners, RIP LFC.

 

The next few days are going to be crucial. And damn fucking nervous for sure.

[Cij]

Fucking hell.

 

Sweet Jesus.

 

Etc.

 

The statement on the offal is unbelievable. Surely the 3 non owner directors must be confident the two cunts cannot remove any of them?

 

It is also interesting that they are trying to remove TWO directors, not ONE. Removing even ONE will give them a majority so why TWO?

 

According to Clause 81 of the Special Resolution adopted by the Board on 29 April 2010 only the Chairman has the power to appoint and / or remove directors. Many people don't seem to realise that the Board is comprised of 6 people; Hicks, Gillet, Nash, Ayres, Purslow and Broughton (who has a casting vote) so Nash needs to be put under as much pressure as possible.

 

The statement on the Club website makes it abundantly clear that Ayres, Purslow and Broughton are openly opposing Hicks and Gillet and it appears that the Yanks do not have the power to unilaterally alter the composition of the Board - the stunt they tried to pull today is bound to fail. However, as shareholders they could seek to argue that the Board are refusing to act in the best interests of the company's members but this would be a very tenuous claim given the fact that the Club is in danger of defaulting on its loans and there are currently no bids on the table matching the owners' inflated valuation.

 

Having reviewed the Special Resolution I am feeling increasingly confident. The Yanks cannot stymie the Board without Broughton's assistance. Furthermore, the Yanks provided personal guarantees to RBS as part of the last refinance. Clause 83 (b) of the special resolution provides that "The office of a director shall be vacated if he becomes bankrupt or makes any arrangement or composition with his creditors generally" - this is just around the corner given the Yanks inability to secure refinancing to repay RBS.

 

The Yanks appear to be well and truly fucked and it is difficult to see how they can possibly cling to the Club in the current circumstances. Their best option is clearly to accept one of the bids currently on the table but they are such blood sucking leeches they are unlikely to do so. I hope their resistance to the takeover leaves them completely skint the souless, kniving scum.

[WaltonRed]

I think the statement is a call to Hester to do the right thing and call it in.

[TheHowieLama]

Wrong, it's always cool to wear a Sox hat.

 

Even with a kickass beard it is bordering on uncool, clean shaven it is a farce.

[cole7]

Also with his own board in place Hicks can refinance against the clubs assets, ie the whole club and everybody in it.

 

Begining of the end If he wins.

 

doesnt bare thinking about - the club dies if this goes their way

[Lunatic]

Apparently Broughton released the statement. Also, some info on Red Sox financial stats: #2 Boston Red Sox - Forbes.com

[Carra_is_legend]

I wonder if the deal agreed with RBS in April in return for the refinance was that Broughton would come on to the board and oversee a sale. Therefore the owners are not confident they can just remove Broughton easily from the board. But perhaps they think they can remove the other now-hostile directors?

 

This is pure speculation by the way

 

Aye, we are all speculating.

 

I'm just curious as to why they want both removed? Clearly removing one and replacing him with a YES man will do the trick and get them majority?

 

It just doesn't make sense.

[Guest Ronin47]

Dear Lord Rogan Taylor on five live now.

 

Even he is calling it civil war

[WrongIslander]

Does this mean it's cool to wear a Red Sox baseball cap? Not that it was ever un-cool!

 

The Mets are my team but if these people save the life of Liverpool F.C I;d have to support two teams! Two teams all be it that hate the Yankees.

[Red22]

My pessimistic theory is that RBS will extend the loan while the sale process happens.

 

Then the interested parties will disappear.

 

This.

 

I don't understand why any prospective buyer would bid now. Surely it's legally more straightforward (and cheaper) to let RBS seize the asset and then deal directly with them?

[aiyic]

Jefferies saying that Purslow and Ayres have asked to resign?? wtf?

[TheHowieLama]

Clause 83 (b) of the special resolution provides that "The office of a director shall be vacated if he becomes bankrupt or makes any arrangement or composition with his creditors generally" .

 

George already has.

[Carra_is_legend]

According to Clause 81 of the Special Resolution adopted by the Board on 29 April 2010 only the Chairman has the power to appoint and / or remove directors. Many people don't seem to realise that the Board is comprised of 6 people; Hicks, Gillet, Nash, Ayres, Purslow and Broughton (who has a casting vote) so Nash needs to be put under as much pressure as possible.

 

The statement on the Club website makes it abundantly clear that Ayres, Purslow and Broughton are openly opposing Hicks and Gillet and it appears that the Yanks do not have the power to unilaterally alter the composition of the Board - the stunt they tried to pull today is bound to fail. However, as shareholders they could seek to argue that the Board are refusing to act in the best interests of the company's members but this would be a very tenuous claim given the fact that the Club is in danger of defaulting on its loans and there are currently no bids on the table matching the owners' inflated valuation.

 

Having reviewed the Special Resolution I am feeling increasingly confident. The Yanks cannot stymie the Board without Broughton's assistance. Furthermore, the Yanks provided personal guarantees to RBS as part of the last refinance. Clause 83 (b) of the special resolution provides that "The office of a director shall be vacated if he becomes bankrupt or makes any arrangement or composition with his creditors generally" - this is just around the corner given the Yanks inability to secure refinancing to repay RBS.

 

The Yanks appear to be well and truly fucked and it is difficult to see how they can possibly cling to the Club in the current circumstances. Their best option is clearly to accept one of the bids currently on the table but they are such blood sucking leeches they are unlikely to do so. I hope their resistance to the takeover leaves them completely skint the souless, kniving scum.

 

Cheers mate. I'm sitting with everything crossed here. I just want the end game.

[coop]

Jefferies saying that Purslow and Ayres have asked to resign?? wtf?

 

You missed out the 'being' between have and asked.

[Faustus]

I'm kind of still in the dark about this because I've been in from footy about half an hour, had a shower and come down stairs to this, but is it fair to say that the club's balanced on a knife edge and could go either way?

[Carra_is_legend]

You missed out the 'being' between have and asked.

 

HAHA! Cheers Coop. That nearly gave me a heart attack.

[Ring of Fire]

Someone made the point earlier that all Cancer & Aids need to do get a majority vote is to remove one of Purslow or Ayre. So why remove the 2 of them? And these new imcumbents Hicks wants to bring in are his people not Gillett's. Something does not add up.

[RobbieOR]

I'm kind of still in the dark about this because I've been in from footy about half an hour, had a shower and come down stairs to this, but is it fair to say that the club's balanced on a knife edge and could go either way?

 

Thats pretty much it Liam.

[Brownie]

You missed out the 'being' between have and asked.

 

That still doesn't make any sense! Did you mean 'been'? ;-)

 

I'm with SM on this one; absolutely mental development. It's mad to think that Broughton, Purslow and Ayre have declared war on the cunts on their own website! Boss!

[Mr Piechnik]

Does anyone know what Jimmy Corkhill's take on all this is?

[Chinandeler Bong]

You missed out the 'being' between have and asked.

 

and been.

[WaltonRed]

No court in the land would hand it back to them two dickheads.

 

Please Shanks have a word with God and swing it our way!