Quantcast
Dutch Auction. - FF - Football Forum - The Liverpool Way Jump to content

Recommended Posts

Peston on the Beeb

 

he bidding contest for Liverpool FC may not be over, the BBC can reveal.

 

The runner-up in the contest, Peter Lim, a Singapore billionaire, is to approach Liverpool's board with a view to making a higher offer for the club.

 

According to sources close to Mr Lim, he was the club's preferred bidder in the closing stages of the auction.

 

He had talks with Liverpool's chairman about how to announce his takeover, such was the apparent confidence that he would win the contest.

'No loans'

 

Mr Lim learned he was not the victor only a few hours before the club's chairman, Martin Broughton, announced on 6 October that Liverpool would be sold to John Henry's New England Sport Ventures for £300m.

Continue reading the main story

“Start Quote

 

He never had a chance to negotiate directly with Royal Bank [of Scotland] He was expecting to do so, after agreeing the takeover with the board”

 

End Quote Source close to Peter Lim

 

Mr Lim, who is being advised by the British firm of lawyers Macfarlanes and by the Wong Partnership of Singapore, still does not know why Mr Broughton went with New England Sports Ventures, owners of the Boston Red Sox.

 

He believes that in purely monetary terms, his offer was at least as attractive as Mr Henry's.

 

Mr Lim, too, was offering to repay all of Royal Bank of Scotland's and Wachovia's £200m of long-term debt, to take on £60m of other debt and to inject £40m of working capital.

 

What's more - and Mr Lim regards this as crucial - all the money being provided by him would come from his own cash resources. He is not planning to borrow any of it.

 

I understand he is also offering to provide tens of millions of pounds to Liverpool's manager, Roy Hodgson, to allow him to buy players when the transfer window opens in January.

 

According to executives close to Mr Lim, he was told by Mr Broughton that his ability to fund the takeover for cash, and the size of his cash resources, meant he was a more attractive owner than New England Sports Ventures.

 

Mr Lim was told that Liverpool's board was concerned that New England Sports Ventures would have to borrow to finance the takeover - raising questions about whether Liverpool really would break free from the financial shackles perceived to have been imposed by the current owners, George Gillett and Tom Hicks.

 

In the event, New England Sports Ventures have insisted it will not load up Liverpool FC with debt.

 

But there are no guarantees that there will not be significant debt further up the corporate ownership structure of New England Sports Ventures - which could limit how much money Mr Henry and his colleagues can inject into Liverpool in the future.

 

Mr Lim is keeping a close eye on the court case, which starts on Tuesday.

 

The case is supposed to rule on whether Mr Broughton can sell Liverpool to New England Sports Ventures against the wishes of Mr Hicks and Mr Gillett.

 

The Singapore billionaire believes the judgement in that case may give him an opportunity to bid again, whatever Mr Broughton may wish.

Business empire

 

Mr Lim is also prepared to buy Liverpool, should it ultimately collapse into administration under UK insolvency procedures.

 

According to sources close to him, he feels that he may have been shut out because New England made an offer to Royal Bank of Scotland to pay some of the £40m penalty fees the banks have demanded.

 

If that is the case, he believes Royal Bank may have done a poor deal, because he would be prepared to pay RBS and Wachovia more than the £10m or so which New England Sports Ventures is said to have put on the table.

 

"He never had a chance to negotiate directly with Royal Bank [of Scotland]," said a source. "He was expecting to do so, after agreeing the takeover with the board."

 

Mr Lim has an estimated net worth of $1.6bn (£1bn), according to Forbes Magazine.

 

He made his fortune in fashion, logistics and agri-business.

 

His interest in English football stems from his ownership of several Manchester United themed bars in Asia - which have persuaded him that there is huge global potential for making money from top-flight English football.

Share this post


Link to post
Share on other sites
Peston on the Beeb

 

he bidding contest for Liverpool FC may not be over, the BBC can reveal.

 

The runner-up in the contest, Peter Lim, a Singapore billionaire, is to approach Liverpool's board with a view to making a higher offer for the club.

 

According to sources close to Mr Lim, he was the club's preferred bidder in the closing stages of the auction.

 

He had talks with Liverpool's chairman about how to announce his takeover, such was the apparent confidence that he would win the contest.

'No loans'

 

Mr Lim learned he was not the victor only a few hours before the club's chairman, Martin Broughton, announced on 6 October that Liverpool would be sold to John Henry's New England Sport Ventures for £300m.

Continue reading the main story

“Start Quote

 

He never had a chance to negotiate directly with Royal Bank [of Scotland] He was expecting to do so, after agreeing the takeover with the board”

 

End Quote Source close to Peter Lim

 

Mr Lim, who is being advised by the British firm of lawyers Macfarlanes and by the Wong Partnership of Singapore, still does not know why Mr Broughton went with New England Sports Ventures, owners of the Boston Red Sox.

 

He believes that in purely monetary terms, his offer was at least as attractive as Mr Henry's.

 

Mr Lim, too, was offering to repay all of Royal Bank of Scotland's and Wachovia's £200m of long-term debt, to take on £60m of other debt and to inject £40m of working capital.

 

What's more - and Mr Lim regards this as crucial - all the money being provided by him would come from his own cash resources. He is not planning to borrow any of it.

 

I understand he is also offering to provide tens of millions of pounds to Liverpool's manager, Roy Hodgson, to allow him to buy players when the transfer window opens in January.

 

According to executives close to Mr Lim, he was told by Mr Broughton that his ability to fund the takeover for cash, and the size of his cash resources, meant he was a more attractive owner than New England Sports Ventures.

 

Mr Lim was told that Liverpool's board was concerned that New England Sports Ventures would have to borrow to finance the takeover - raising questions about whether Liverpool really would break free from the financial shackles perceived to have been imposed by the current owners, George Gillett and Tom Hicks.

 

In the event, New England Sports Ventures have insisted it will not load up Liverpool FC with debt.

 

But there are no guarantees that there will not be significant debt further up the corporate ownership structure of New England Sports Ventures - which could limit how much money Mr Henry and his colleagues can inject into Liverpool in the future.

 

Mr Lim is keeping a close eye on the court case, which starts on Tuesday.

 

The case is supposed to rule on whether Mr Broughton can sell Liverpool to New England Sports Ventures against the wishes of Mr Hicks and Mr Gillett.

 

The Singapore billionaire believes the judgement in that case may give him an opportunity to bid again, whatever Mr Broughton may wish.

Business empire

 

Mr Lim is also prepared to buy Liverpool, should it ultimately collapse into administration under UK insolvency procedures.

 

According to sources close to him, he feels that he may have been shut out because New England made an offer to Royal Bank of Scotland to pay some of the £40m penalty fees the banks have demanded.

 

If that is the case, he believes Royal Bank may have done a poor deal, because he would be prepared to pay RBS and Wachovia more than the £10m or so which New England Sports Ventures is said to have put on the table.

 

"He never had a chance to negotiate directly with Royal Bank [of Scotland]," said a source. "He was expecting to do so, after agreeing the takeover with the board."

 

Mr Lim has an estimated net worth of $1.6bn (£1bn), according to Forbes Magazine.

 

He made his fortune in fashion, logistics and agri-business.

 

His interest in English football stems from his ownership of several Manchester United themed bars in Asia - which have persuaded him that there is huge global potential for making money from top-flight English football.

 

Hmm

Share this post


Link to post
Share on other sites

Mr Lim was told that Liverpool's board was concerned that New England Sports Ventures would have to borrow to finance the takeover - raising questions about whether Liverpool really would break free from the financial shackles perceived to have been imposed by the current owners, George Gillett and Tom Hicks.

 

In the event, New England Sports Ventures have insisted it will not load up Liverpool FC with debt.

 

But there are no guarantees that there will not be significant debt further up the corporate ownership structure of New England Sports Ventures - which could limit how much money Mr Henry and his colleagues can inject into Liverpool in the future.

 

We need clarity on this, that's for sure.

Share this post


Link to post
Share on other sites

Broughton said to ignore press speculation before and I still think it applies now. He could just be another Kenny Huang who wants a bit of publicity.

 

Broughton also said that it wasn't a case of the highest bidder winning, but the best bid. All seems a bit dodgy to me.

Share this post


Link to post
Share on other sites
Broughton said to ignore press speculation before and I still think it applies now. He could just be another Kenny Huang who wants a bit of publicity.

 

Broughton also said that it wasn't a case of the highest bidder winning, but the best bid. All seems a bit dodgy to me.

 

He did say that NESV were the highest bidder. Im sure of it.

Share this post


Link to post
Share on other sites

Yeah, I don't like the look of this coming out now, and I really hope they don't renege on their agreement with NESV. We've accepted their bid so if we pulled out now and then Wong decides he's not so serious, we'd be up slack alley.

Share this post


Link to post
Share on other sites

Never heard of Lim guy before in singapore.

 

His interest in English football stems from his ownership of several Manchester United themed bars in Asia - which have persuaded him that there is huge global potential for making money from top-flight English football.

 

He seriously need to f*off

Share this post


Link to post
Share on other sites
He did say that NESV were the highest bidder. Im sure of it.

 

Yes, he did come to think of it. Said there wasn't much in it, but he definitely said in the interview with Dan Roan that NESV were the highest.

Share this post


Link to post
Share on other sites
Yes, he did come to think of it. Said there wasn't much in it, but he definitely said in the interview with Dan Roan that NESV were the highest.

 

Yeh defo mate.

He said it wasnt about who bid the highest although they did.

 

I cant switch off from this.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×