The club is sold

[theghost]

The other thing is that, in my opinion, there is no sporting institution save for perhaps the NY Yankees greater in terms of scope and history than the Boston Red Sox. They are the closest thing in America to LFC. People live and die (or they did until they won the world series in 2004) by what happens with the Sox. So there's that.

[Lopez Ufarte]

what i dont understand is why they were not able to remove those 2!

 

who gave Broughton the auth to say NO!

 

RBS? have we already been taken by bank hence the sale? if thats the case then the legal fight will happen after we are sold it wont hold it up!

 

im confused

 

The bank as a condition of the refinance.

[Jose Jones]

what i dont understand is why they were not able to remove those 2!

 

who gave Broughton the auth to say NO!

 

RBS? have we already been taken by bank hence the sale? if thats the case then the legal fight will happen after we are sold it wont hold it up!

 

im confused

 

Presumably as part of the last re-financing package that RBS gave G&H, they had to legally agree to put in process the selling of the club by appointing Broughton as chairman of the 5 man board with the sole power to agree to any changes in directors, and agreeing that the board needed a majority vote to approve a sale or further re-financing.

This is basically what Broughton said when he was appointed.

 

So it was RBS putting that condition on to the owners in order for them to extend the loan that gave Broughton the power. G&H's first tactic has been to try and kick Purslow and Ayres off the board to stop them having the votes to push through the sale. I'd imagine if this one doesn't work through the courts they will challenge other areas of the deal struck with RBS.

[hunts_kopite]

The building of the stadium, in my understanding, is a prerequisite of any deal and in Broughton's statement he says:

 

"The board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner."

 

So if it was a condition of sale, I would assume they have agreed to build the stadium.

[thompsonsnose]

Myers keeps referring to the "owners" and "non owners".

I think right now RBS own the club Alan.:yes:

[TheDrowningMan]

They have a good history. If you say all Americans are the same, you have to say all on this isle are too, be they from Liverpool, London or Leeds. Judged as individuals, they have about as good a track record as we can hope for at such desperate times - reviving an ailing team, helping them to respect and treating them respectfully.

 

Hicks and Gillett had a long history of failure and bankruptcy and pissing on fine sporting institutions LONG before they'd even heard of Liverpool Football Club. A brief Internet search is all it took to tell you of that. It would be premature to suppose the new owners will be perfect as time will be the judge, but personally I am still in a state of disbelief that people who've been very solid owners would be in for us - I expected a Kirdi or a fake Sheik, Portsmouth style.

 

Don't dismiss these owners (should they take thehelm officially) when they don't make us Man City. The best parallel I can think of when considering what to expect would probably be Arsenal - operates responsibly for a long term future yet with money available when the manager needs it.

[the-fox]

Did i just hear the Professor in the sky interview refer to Boston Red Sox as Boston Rod Sex? Anyone else hear it?

[Silly season]

Myers keeps referring to the "owners" and "non owners".

I think right now RBS own the club Alan.:yes:

 

didnt think that was legal? with rbs being 80% tax payer owned it would have to be announced publicly for legal reasons.

 

 

so no, we are not currently owned by rbs, they have not taken back the date

[thompsonsnose]

didnt think that was legal? with rbs being 80% tax payer owned it would have to be announced publicly for legal reasons.

 

 

so no, we are not currently owned by rbs, they have not taken back the date

 

Something must be behind Broughton growing a pair.

[Rio5412]

the fact that this is an American company will ensure they are scrutinised heavily after C+A get kicked out. But on (albeit only 5-10 mins) looking into NESV, there is a serious lack of information.

 

owned by John W. Henry, who is 2006 had a estimated fortune of $840m (The 50 Wealthiest Bostonians - Boston Magazine) along with chairman Thomas C. Werner, of who there is even less info.

 

it seems, from what i've read, John and Tom are the money men in the group, having pain $660m for the red socks between them and then going onto buying property connected and around the stadium. But they are also backed by a range of partners;

 

Henry F. McCance

The New York Times Company

Arthur E. Nicholas

Frank Resnek

Martin Trust

Jeffrey Vinik

Theodore Alfond

William Alfond

Thomas R. DiBenedetto

Michael Egan

Michael Gordon

John A. Kaneb

Seth Klarman

 

 

New york times is the stand out, but noises on the net from last year makes it seem like they were trying to sell their share in NESV, reasons point to NYT's own financial troubles and not anything against NESV, but as always you never really know and these seemed to have stopped at the end of 09.

 

glad that cancer and aids seem like they might actually be on their way out, but i worry that NEVS aren't a very open organisation, i literally found 2 paragraphs of info on them over the years they've been operating. I think should they come in, they'll build a new stadium, increase revenue in marketing and sales and in the short term, improve us.. but IMO they make most money through marketing and sales, and once profit from there is maximised then they will loose interest in investing in the squad.

[Turkish Delight]

I don't know what to think with this to be honest.

 

My first reaction was relief that this could be over but then the realisation hit that it still isn't by a long way.

 

I'm also reading lots of positive things about the potential new owners but seeing nothing to suggest that people aren't just looking on the bright side purely because they're not who we have now.

 

Last time we were sold people were quick to point out how Hicks had paid out on big transfers in the past so dwelling on the wage bills and ignoring the stories of financial troubles and huge ticket price hikes is ridiculously naive bearing in mind what we've had to go through.

[navbasi]

Board agree proposed sale‏

 

Liverpool Football Club today announces that the Board has agreed the sale of the Club to New England Sports Ventures (NESV).

 

New England Sports Ventures currently owns a portfolio of companies including the Boston Red Sox, New England Sports Network, Fenway Sports Group and Roush Fenway Racing.

 

Martin Broughton, Liverpool FC Chairman, said:

"I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive. The Board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner. NESV's philosophy is all about winning and they have fully demonstrated that at Red Sox. "We've met them in Boston, London and Liverpool over several weeks and I am immensely impressed with what they have achieved and with their vision for Liverpool Football Club. "By removing the burden of acquisition debt, this offer allows us to focus on investment in the team.

 

I am only disappointed that the owners have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale."

 

Note to editors:

The sale is conditional on Premier League approval, resolution of the dispute concerning Board membership and other matters.

 

Board agree proposed sale - Liverpool FC

[bossy]

According to what I have read and heard across many press sources. G&H tried to remove Purslow and Ayres and replace them with Hicks' other son and the head of Hicks Holdings.

 

The board have agreed to sell to New England Sports Ventures who own the Red Sox. NESV have agreed to pay off the entire debt and from some sources build the stadium. G&H are putting in a legal challenge to retain control of the club and turn down the offer. I imagine on the basis that the board are selling against the owners interests.

 

That's all that I know.

 

Made me laugh for some reason!

[stevienando]

the fact that this is an American company will ensure they are scrutinised heavily after C+A get kicked out. But on (albeit only 5-10 mins) looking into NESV, there is a serious lack of information.

 

owned by John W. Henry, who is 2006 had a estimated fortune of $840m (The 50 Wealthiest Bostonians - Boston Magazine) along with chairman Thomas C. Werner, of who there is even less info.

 

it seems, from what i've read, John and Tom are the money men in the group, having pain $660m for the red socks between them and then going onto buying property connected and around the stadium. But they are also backed by a range of partners;

 

Henry F. McCance

The New York Times Company

Arthur E. Nicholas

Frank Resnek

Martin Trust

Jeffrey Vinik

Theodore Alfond

William Alfond

Thomas R. DiBenedetto

Michael Egan

Michael Gordon

John A. Kaneb

Seth Klarman

 

 

New york times is the stand out, but noises on the net from last year makes it seem like they were trying to sell their share in NESV, reasons point to NYT's own financial troubles and not anything against NESV, but as always you never really know and these seemed to have stopped at the end of 09.

 

glad that cancer and aids seem like they might actually be on their way out, but i worry that NEVS aren't a very open organisation, i literally found 2 paragraphs of info on them over the years they've been operating. I think should they come in, they'll build a new stadium, increase revenue in marketing and sales and in the short term, improve us.. but IMO they make most money through marketing and sales, and once profit from there is maximised then they will loose interest in investing in the squad.

 

Maybe becuase you're slightly shite at searching? They'll lose interest in investing? They have only one interest and that is to make money, they make money through marketing and success and winnings. If they have to make an investment in the squad or facilities, they will.

[Captain]

Pretty harsh words from Broughton towards G&H there!

 

Fingers crossed you got it right, Martin.

[Guest Slim(fast)Shady]

"estimated fortune of £540m" (BBC)

 

Hardly gonna bother Ambrovonich and the Sheik at Eastlands!

 

Doomed!

[18-5]

Tears rolled down my eyes when I saw it on BBC a few minutes ago.

[Major Tom]

"estimated fortune of £540m" (BBC)

 

Hardly gonna bother Ambrovonich and the Sheik at Eastlands!

 

Doomed!

 

I didn't want a sugar daddy, I wanted the club to be run sensibly. If these new Americans run the club properly, I will be satisfied. Time will tell.

[paulmx3]

this to me stinks of yet another pair of american out of their depth.They dont have enough money to buy this club,pay for a stadium and buy players.

 

indeed player costs in football far exceed player costs in baseball.

 

i just hope like the last sale someone is waiting in the wings to gazump these two otherwise i fear its going to be many more years of problems...i do hope im wrong.

[barosrocks]

I didn't want a sugar daddy, I wanted the club to be run sensibly. If these new Americans run the club properly, I will be satisfied. Time will tell.

 

Here here.

 

However, I'm not going to jump up and down about this Henry just yet. So far, American owners haven't exactly a great record here - they just don't get football and what it means to us.

On the flip side having been in Boston many years ago, it is probably the most sports mad city in the US, and the fans of all the teams in the city are renowned as the most passionate in the US - perhaps some of our US posters could confirm or refute this as this was about 15 years ago.

[llego]

this to me stinks of yet another pair of american out of their depth.They dont have enough money to buy this club,pay for a stadium and buy players.

 

indeed player costs in football far exceed player costs in baseball.

 

i just hope like the last sale someone is waiting in the wings to gazump these two otherwise i fear its going to be many more years of problems...i do hope im wrong.

 

Really?

 

Average Premier League salary, 2010: $2 million US dollars

Average MLB salary, 2010: $3.3 million US dollars

 

Arod got a $250 million dollar deal for 10 years. That's $25 million a year, or $500,000 a week. 3 or 4 times more than any player on our wage bill.

 

Instead of transfer fees, they pay far more in player salaries. That's just how it works.

 

Here here.

 

However, I'm not going to jump up and down about this Henry just yet. So far, American owners haven't exactly a great record here - they just don't get football and what it means to us.

On the flip side having been in Boston many years ago, it is probably the most sports mad city in the US, and the fans of all the teams in the city are renowned as the most passionate in the US - perhaps some of our US posters could confirm or refute this as this was about 15 years ago.

 

Yeah, Boston fans are fucking nuts. Maybe Philly gives them a run for their money, but other than that... nobody.

[navbasi]

this to me stinks of yet another pair of american out of their depth.They dont have enough money to buy this club,pay for a stadium and buy players.

 

indeed player costs in football far exceed player costs in baseball.

 

i just hope like the last sale someone is waiting in the wings to gazump these two otherwise i fear its going to be many more years of problems...i do hope im wrong.

 

To be fair, not many people have.... If they can pay off the debt and get a decent loan for the stadium that is not going to cripple us then I think it could be good - time will tell........

[Rio5412]

Maybe becuase you're slightly shite at searching? They'll lose interest in investing? They have only one interest and that is to make money, they make money through marketing and success and winnings. If they have to make an investment in the squad or facilities, they will.

 

maybe you're slightly shite at reading?

 

I said, IMO of course, they will invest in a new stadium and in the team, improve marketing and sales as much as they can, but for a company making money from marketing and sales, that reaches a limit eventually... i'm thinking in the long term, not the short, and i don't think these guys will be around in 10 years.

 

The massive investment they made when they bought the red sox isn't being made anymore, in fact this yr they are having to manage their money carefully.

[hunts_kopite]

this to me stinks of yet another pair of american out of their depth.They dont have enough money to buy this club,pay for a stadium and buy players.

indeed player costs in football far exceed player costs in baseball.

 

i just hope like the last sale someone is waiting in the wings to gazump these two otherwise i fear its going to be many more years of problems...i do hope im wrong.

 

What have you based this opinion on?

[TheDrowningMan]

this to me stinks of yet another pair of american out of their depth.They dont have enough money to buy this club,pay for a stadium and buy players.

 

indeed player costs in football far exceed player costs in baseball.

 

i just hope like the last sale someone is waiting in the wings to gazump these two otherwise i fear its going to be many more years of problems...i do hope im wrong.

 

No one does unless you want an Abramovich / Sheik City situation. It's not a "pair" of Americans either. Clearing the debt and getting us running sensibly ala Arsenal is a better long term scenario than some vulgar display of buying all and sundry for a few years.

 

It's tremendously depressing that the only goal of many of our fans is to be a "loadsamoney" type operation so that they can have the short term pleasure of stuffing it in the face of opposition supporters for a while. I'd rather see owners who'll clear the debt, give us a fair budget each year and let us reinvest money from sales while the club spins a profit. It's the realistic option and, perhaps, with UEFA's new rules coming in, it might just stand us in rather good stead long-term.