The club is sold

[Tyler Durden]

Has there been any mention of where the purchase money is coming from yet?

[liverpooltj]

There is a document going round that is from Liverpool FC which clearly states in it that the Chairman has the final decision on the hiring/firing of directors.

 

It is there in black and white and if someone hasn't posted it i will hunt for it and post it up later when i get back from work.

 

Broughton himself has said he expects Hicks and Gillett to appeal against the court ruling if it goes against them but according to Broughton its a pretty quick procedure.

 

This is the document Coop and is from LFC to company house.

 

Clause 81 states that only MB can hire and remove members of the board.

 

http://dl.dropbox.com/u/4746910/LFC%20company%20articles.pdf

[benite]

This is the document Coop and is from LFC to company house.

 

Clause 81 states that only MB can hire and remove members of the board.

 

http://dl.dropbox.com/u/4746910/LFC%20company%20articles.pdf

 

Thats for the club as a whole is'nt it, what about Kop Holdings, who are the board of directors there? Is it the same 5 board members we have running the club, the same as who are running Kop Holdings?

[JER]

You can pu your Mortgage on it they will. I wouldnt be surprised if this kept dragging on with them going to a higher court each time.

 

How long can it go on for though? It has to stop on the 15th when the RBS call in the loan - the dip-shit is just trying to buy 8 days to desperately find £300m. Ocean finance have just turned him down.

[WaltonRed]

He's fucked.

 

I for one hope he's at the high court when he gets his eye wiped.

[liverpooltj]

Thats for the club as a whole is'nt it, what about Kop Holdings, who are the board of directors there? Is it the same 5 board members we have running the club, the same as who are running Kop Holdings?

 

The board of directors are the same at KH than the club. However i dont think RBS, Broughton and BARCAP will be soft enough not to include KH into their agreement with the two cunts.

 

What is the point of RBS, Barcap and Broughton doing a sales process if hicks can just step in and fuck it all up? They would have had cast iron agreements with the cunts that Broughton and BARCAP have full control of everything.

 

Anyway if hicks wins in court RBS pull the plug. Simple.

[Jim MM]

The board is protecting the shareholders investment by stopping them from sinking it more debt.

[ctkeepercoach]

The board of directors are the same at KH than the club. However i dont think RBS, Broughton and BARCAP will be soft enough not to include KH into their agreement with the two cunts.

 

What is the point of RBS, Barcap and Broughton doing a sales process if hicks can just step in and fuck it all up? They would have had cast iron agreements with the cunts that Broughton and BARCAP have full control of everything.

 

Anyway if hicks wins in court RBS pull the plug. Simple.

 

Hicks won't win in court... It seems with the way that Broughton and the board have anticipated every move and had a plan at every turn, they must have an answer to any eventuality....

[StevieH]

Premier League gives Liverpool takeover green light

 

Ashling O’Connor and Tony Barrett

 

The Premier League will approve the £300 million takeover of Liverpool by the owners of the Boston Red Sox today — despite an impending High Court battle.

 

New England Sports Ventures (NESV), the parent company of the Major League Baseball franchise, is understood to have passed a series of ownership tests, including proof of funds for the buyout and for sustaining the club for this season.

 

League executives are conducting the same legal and financial background checks on an unnamed Asian group, believed to be from Singapore, which also offered £300 million for the club.

 

The Times understands that the Asian group wants to be subjected to the same ownership tests despite being the second choice of Martin Broughton, the Liverpool chairman.The group is waiting in the wings in case the NESV bid collapses.

 

Broughton faces a legal challenge next week from Tom Hicks and George Gillett Jr, Liverpool’s co-owners, who claim that he exceeded his authority by recommending a bid they say substantially undervalues the club. They claim to have sacked the board.

 

Broughton is confident of winning a court judgment, preferably before next Friday, when Hicks and Gillett are due to repay £282 million in loans and fees to Royal Bank of Scotland.

 

But the bank is understood to be working on a “Plan B” if the pair win their case, which includes putting Kop Holdings, the club’s UK parent company, into administration. This could lead to a nine-point deduction for Liverpool, which would further damage the standing of a team who are third from bottom of the Barclays Premier League with six points from seven games.

 

Hicks, however, insists that the proposed sale is illegal and has vowed to pursue the matter through the courts.

 

The dispute centres on whether the Liverpool board had the power to accept the offer from NESV against the wishes of the co-owners. Hicks claims that the sale was blocked when he and Gillett tried to remove Christian Purslow, the managing director, and Ian Ayre, the commercial director, from the club’s board, attempting to replace them with Hicks’s son, Mack, and Lori McCutcheon, a vice-president of Hicks Holdings.

 

“We have removed Christian Purslow and Ian Ayre,” Hicks said. “We legally reconstituted the board and the board does not approve of this transaction.”

 

Broughton said yesterday that Liver-pool will not replicate Manchester City’s big-spending ways should NESV’s takeover be completed, but will adopt a “rational” approach to the transfer market.

 

City have spent more than £300 million on players since being bought by Sheikh Mansour in August 2008. NESV plans to implement a more conservative approach to transfers, allowing the club to be competitive by spending within their means.

 

Highlighting the £121 million loss announced last week by City and that their £133 million wage bill outstripped income by £8 million, Broughton maintained that Liverpool would follow a different strategy, allowing for progressive squad rebuilding without falling foul of Uefa’s “financial fair play” rules, which come into effect next season and aim to stop rich owners lavishing money on clubs.

“I couldn’t help notice that Manchester City’s wage bill for last year was exceeding its revenue,” Broughton said. “That is going to be very difficult under financial fair play.”

 

Roy Hodgson, whose position as manager has come under pressure after Liverpool’s worst start to a season for 57 years, has cited the potential arrival of NESV as the key to strengthening his squad. He is likely to have an initial transfer kitty of about £25 million.

Hodgson is, however, looking forward to the possibility of seeing the financial constraints that have been in place at Anfield for more than a year — because of Liverpool’s annual interest payment bill of £30 million — finally being lifted.

 

“We know what we’ve got to do, we know we need some new players, we know we need investment and we know we are weak in certain areas of the team,” Hodgson said. “These things have been the case since I arrived at the club and we haven’t had chance to put things right.

 

“What I ask of the fans is their patience, their trust and their belief, because we will get it right — there are no doubts about that. The club will be in a pretty healthy situation in general terms if the sale goes through.”

[bonesman]

The board of directors are the same at KH than the club. However i dont think RBS, Broughton and BARCAP will be soft enough not to include KH into their agreement with the two cunts.

 

What is the point of RBS, Barcap and Broughton doing a sales process if hicks can just step in and fuck it all up? They would have had cast iron agreements with the cunts that Broughton and BARCAP have full control of everything.

 

Anyway if hicks wins in court RBS pull the plug. Simple.

 

barcaps involvement came at the request of hicks via his friend michael klein, something isnt right here, but im sure we'll find out soon enough..

[Lubeh]

The strange thing is that John Henry is "mates" with Bob Diamond, Chairman of Barcap, big Red Sox fan, and possibly the guy who brokered the Liverpool deal with NESV.

 

SkySports Video Player (v09)

 

Financial expert David Buik gave us an insight into the deal on the table at Anfield and tells us why Liverpool fans should be excited. (Video above talking about the connection).

[karl1987]

Just a quick one that I made.

 

 

Uploaded with ImageShack.us

[G Richards]

Very good Karl!