Gillett and Hicks to lose £144m from sale

[Captain]

If £144m is at stake, the legal battle will be bitter and protracted.

 

Not according to Broughton. And that guy seems to know his shit.

[mattyq]

Its not as if they're going to personally lose any money...some other poor suckers will be liable. Thieving cunts

[setreal]

Ih this turns out true then who's gonna spearhead the

 

 

Email campaign?

[Guest TesticleOReilly]

In Casino royale with cheese the main argument was that he had to win £150 million dollars quid to get his winnings back for his investors portaxelfolio in one game after the plane petrol lorry clip got stuck on his pants belt. Some people wear a holster for their phone in the same place, an old nokia preferably with one leather black belt slightly worn.

It's not an ice cream van if they ring a bell out the window its going to be the candy floss man which although plagued by wasps sometimes is not the same as the Candyman, theres one that comes round ours monthly called John

 

Was just thinking the exact same thing. Damn you, dennis tooth, and your tea leaf-reading shenanigans.

[TopMod]

Hard to believe really. I'm just not getting excited, we've been let down so often whether it was Moores, the 2 pieces of flotsam, even Hodgson. I'll celebrate when the 2 fuckers are gone alright but I think I'll be biding my time to see how these new owners turn out.

[Section_31]

[Xherdan]

Ive had to say this quite often this season, but tonight, Im getting pissed.

[JoeyJones65]

Aw bless....doesn't it just break your heart?

 

Nah...not really...fucking suck on it you leeching bastards. Fuck off Hicks...fuck off Gillett...I still want the two of you to fucking die for the 3 years of shite you have put us and our club through.

[R2 D2]

they will actually break even they wont lose anything

[Dante]

[row19seat111]

George Gillett and Tom Hicks stand to lose £144m from Liverpool

 

 

Karma is a bitch ain't it...!

[RobbieOR]

Ive had to say this quite often this season, but tonight, Im getting pissed.

 

I'm waiting till Friday.

[Guest ian garro]

 

Genius. Just genius.

 

I would rep the shit out of you if I could.

[Xherdan]

Oh, I will be getting drunk on Friday too. Citywest here I come.

[stringvest]

Was just thinking the exact same thing. Damn you, dennis tooth, and your tea leaf-reading shenanigans.

 

it's Dennis's way of saying thank you to Mr Broughton.

[1892-LFCWasBorn]

[lifetime fan]

Please make this all be true. And then let Hicks get eaten by a Saquatch.

 

 

 

Google Image Result for http://golfdriversforsale.com/files/Nike_sasquatch_sumo_driver.jpg

 

I'm confused.

[King Emlyn]

As a followup to the Not Welcome Anywhere campaign:

 

We should print out posters saying "144 million loss: Choke on it" and take pictures with them to email to Tom & George.

Hatched Chickens and all that

[Mogwai]

[WrongIslander]

 

Deserves serious repage!

[kacangpool]

that's the best bit.

[aws]

Sale proceeds will pay RBS off first and any balance (not much if it's £300m) will go to G&H and all their loans are written off.

 

The reason they're written off is that they are subordinated to (rank after) the RBS debt and, when a primary lender sells, all subordinated debt gets written off. By way of example - If this wasn't the case then a building society couldn't sell your house if you had taken out a second charge to raise some cash unless the building society or the buyer was prepared to pay off the second charge.

[llego]

I'm waiting till Friday.

 

Wednesday's the new Friday.

[eljay]

Can someone explain to me why we don't have to pay the loan? Surely a loan's a loan regardless where it came from.

I'm no expert, but I think in theory it goes something like this -

 

When they last refinanced, the only way RBS would do the deal was if they converted this £144m to equity. Basically that meant that, rather than loaning the money to LFC, that money was treated as cash introduced by the owners which theoretically increased the value of LFC by £144m. i.e. if we had zero in the bank and the owners put £144m in, the bank account then increased to £144m, and at that precise moment in time the club was worth £144m more than it was before the money was received.

 

By doing this, it meant that to get that money back, rather than LFC repay a loan, the owners would need to get that from any sale - i.e. in theory, having increased the value of the club by £144m, they would expect any subsequent sale to provide £144m on top of what we might have been worth before they introduced the cash.

 

All well and good, but they were then reliant on the market price being sufficient to cover the outstanding debt + their £144m + any additional profit they'd like to make. The price agreed with NESV (approx £300m) only covers (approx) the outstanding debt - there's nothing left over to give them their £144m and any profit.

 

Happy days - and with a bit of luck, they've borrowed that £144m from elsewhere and won't be able to pay it back, with all the nasty consequences that entails for the cancerous bastards!

[Baz1969]

Fantastic news if this all pans out and great to see the back of those two pricks. 300M does seem a bit low on the face of it but then it does incl 200M debt.

Lets hope everything works out over the next couple of weeks. There is a suggestion that we'll have some funds to spend in Jan - I don't think Hodgson should be let spend anything significant at all as I don't expect or want him to be manager beyond the end of the season at the latest.

 

Hopefully we can forget about all the off the pitch shit from now on and concentrate on the footie.