Tom Hicks is a fan, not a demon

[Hermes]

The Times

 

The row over the Liverpool takeover took a new twist last night when a former Prime Minister of Canada leapt to the defence of Tom Hicks Jr and accused the British media and business world of “character assassination” in “an environment akin to a witch-hunt” during the club’s sale last month.

 

In a remarkable article published in today’s Times, Brian Mulroney says that Martin Broughton, the former Liverpool chairman, and the board “took [Hicks’s] asset against his will and devalued the club in a fire sale”.

Hicks and George Gillett, his coowner, left Anfield when Broughton completed the sale of the club to New England Sports Ventures for about £300 million. Hicks had quoted an asking price of £600-800 million.

 

The former owners’ fury at the sale was in stark contrast to the joy of fans, who had fought to oust the American pair after they took control at Anfield in February 2007, loading the club with £285 million in debt.

 

Mulroney, who was Prime Minister from 1984-93 and admits a friendship with Hicks, says that the way the Texan was treated is “truly disturbing”. The former owners, he says, “dramatically increased the value of the club through considerable investment”, escalated transfer spending and had record expenditure on wages and personnel, “including hiring a new world-class manager” in Roy Hodgson.

 

Hicks will contest the sale in court and Mulroney asks “how such a travesty could have occurred in England, the birthplace of fundamental justice”.

The sentiment will find no support on the Kop, where the legacy of Hicks and Gillett continues to leave a bad taste.

[Chinandeler Bong]

Stopped reading at "World class manager".

[The-Sir]

“including hiring a new world-class manager” in Roy Hodgson.

 

Heh.

[Anubis]

He's gone, get over it Brian.

[Hand Shandy]

I agree - Tom Hicks isn't a demon.

 

He is, however, a cunt...

 

And talktome, you read far more of the article than I did! I had to re-read it to check who you were talking about - Rafa or Roy?

[Pidge]

The Timesaccused the British media and business world of “character assassination”

 

I wish they'd stop trying to take credit for our hard work.

[Hermes]

The full Mulroney article:

 

The unfair vilification of the former Liverpool owner disgraces the birthplace of justice

 

Visiting London a few weeks ago was eye-opening. On both sides of the Atlantic, there is justified concern about the level of venom in political discourse. What shocked me, however, was the clear spillover of that vituperation into the business world and its coverage by the media — specifically in the Liverpool Football Club saga. That is truly disturbing.

Up front, I should say that Tom Hicks is a long-time friend and business colleague of mine.

The issues that he and his business partner, George Gillett, have faced in their ownership of Liverpool FC are familiar to me and we have spoken about them in recent months. For what it’s worth, I think that Tom understands the time has come for there to be new owners of the club.

 

But criticism should end there, and certainly should not be elevated into unjustified attempts at ad hominem character assassination. What I witnessed firsthand in London and what transpired in the time leading up to it decisively crossed the line from decency to outrageousness.

The facts are incontrovertible: a profitable and highly valuable asset, one that the owners had helped to improve through considerable investment and a series of transactions, was sold at a bargain basement price. Board members in lucrative and prestigious positions turned on the owners, whose interests they were supposed to protect and did it in an environment akin to a witch-hunt.

 

 

I know Tom Hicks, personally and as a businessman, better than most. He is one of the pioneers of the private equity business, which he helped to turn into the important element of the global economy it is today. He has built companies that have employed thousands of people and created billions of dollars in value, benefiting ordinary shareholders and pension- fund investors round the world.

During his long career, Tom and his family have demonstrated immense generosity by their financial support of countless charities, as well as the time they have given many of them.

 

Their attitude towards Liverpool was really no different. Together with Mr Gillett, he dramatically increased the value of the club through considerable investment ($270 million). Transfer spending and payroll increased dramatically under their ownership. The club’s revenues and profitability are up significantly compared with the period before they bought the club.

 

Tom is a sportsman who loves winning. One of his greatest moments was when the Dallas Stars ice hockey team won the Stanley Cup in 1999. He was ecstatic when the Texas Rangers — the organisation and team built under his ownership, which ended in August — made its first World Series appearance. He craved success on the pitch for Liverpool and was thrilled when he tasted it, as runners-up in the Champions League in 2007 or the Premier League in 2009. The club’s performance this year has been as painful for Tom as anyone, and was his undoing, despite record expenditures on personnel, including hiring a new world-class manager.

 

So change was necessary and for that reason Tom agreed to leave Anfield. He did that months ago and put the process in the hands of people he trusted. All he asked was fair value for the investment he made. In the end, they took his asset against his will and devalued the club in a fire sale. The greatest shame is that, in England at least, they took his good name.

 

Tom Hicks is a good man, a man of principle and honour. His entire life has been a testimonial to those virtues while working to enhance value for shareholders and investors. Those who know him would never have recognised the battered individual whom I saw defending himself on British television, thoroughly demonised by the media, with the dubious complicity of banks, directors and former colleagues.

 

The legal system will ultimately resolve the business issues. But the damage done to England’s discourse and tone about business will take more time to undo ... and the misplaced vitriol that surrounded Tom Hicks will also be longer lasting.

Ultimately, Tom Hicks and his stewardship of Liverpool will be judged on the facts. When that judgment is handed down, I suspect there will be much reflection and comment on how such a travesty could have occurred in England, the birthplace of fundamental justice.

Brian Mulroney was Prime Minister of Canada 1984-93

Edited November 12, 2010 by Hermes

[TommyW]

chin up Tom,

 

for me, its like Garcia's goal in the semi with Mourinho

 

its even more satisfying they feel wronged

[Hand Shandy]

After politics

 

Since leaving office, Mulroney has served as an international business consultant and remains a partner with the law firm Ogilvy Renault. He currently sits on the board of directors of multiple corporations, including Barrick Gold, Quebecor Inc., Archer Daniels Midland, TrizecHahn Corp. (Toronto), Cendant Corp. (New York), AOL Latin America, Inc. (New York) and Cognicase Inc. (Montreal). He is a senior counselor to Hicks, Muse, Tate & Furst, a global private equity fund in Dallas, chairman of Forbes Global (New York), and was a paid consultant and lobbyist for Karl-Heinz Schreiber beginning in 1993. He is also chairman of various international advisory boards and councils for many international companies, including Power Corp. (Montreal), Bombardier (Montreal), the China International Trust and Investment Corp. (Beijing), J.P. Morgan Chase and Co. (New York), Violy, Byorum and Partners (New York), VS&A Communications Partners (New York), Independent Newspapers (Dublin) and General Enterprise Management Services Limited (British Virgin Islands).[41]

 

Fuck off Brian.

[Steve Holt]

How can he even say something like England is the "birthplace of fundamental justice"? That makes no sense whatsoever/

[Trumo]

#Money for nothing, and your grits for free#

 

Brian, have you ever lent Tom so much as a "loonie" or a "toonie"? Get it back did ya? Thought not.

[Trucker Paddy]

I love reading about how screwed over he feels, put me in good form that

[Hermes]

How can he even say something like England is the "birthplace of fundamental justice"? That makes no sense whatsoever/

 

It is. Most of the legal systems in the free world are based on and derived from English law.

[Delmar]

I'm sure Hermes wrote the article. The massive twisting of facts is a dead giveaway...

[Hermes]

I'm sure Hermes wrote the article. The massive twisting of facts is a dead giveaway...

 

I only deal in facts, not opinion. Name one that I've twisted

 

You don't like those facts because of your opinion, that's the difference.

[Razoray]

The full Mulroney article:

 

I know Tom Hicks, personally and as a businessman, better than most. He is one of the pioneers of the private equity business, which he helped to turn into the important element of the global economy it is today.

 

You do realise you moron, that the world economy is fucked and it's cretins like your buddy Hicks that created the debt ridden false economy that we and generations after us will have pay for. Clown!!

[Josef Svejk]

It is. Most of the legal systems in the free world are based on and derived from English law.

 

Sadly ignorant...

[Delmar]

I only deal in facts, not opinion. Name one that I've twisted

 

You don't like those facts because of your opinion, that's the difference.

 

It was just a lame joke... Anyway, facts without context mean nothing, they in fact become an opinion. That's where the real difference is.

[SammyAftershave]

With all due respect Brian:

 

 

[Wor Horse]

The ex Prime Minster of Canada's opinion eh. That's worth loads.

[Soup]

Fuck off Hicks you crying cunt. And Brian shut the fuck up.

[Son of L8]

The ex Prime Minster of Canada's opinion eh. That's worth loads.

 

Mulroney is a bent cunt*, who likes taking brown paper bugs bunged full of cash* from "friends" in the world of business and finance* in exchange for undisclosed "favours"* while serving in elected office*.

 

You can always measure a man by the company he keeps...

 

* - allegedly

[Hermes]

Sadly ignorant...

 

Educate yourself:

 

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[Section_31]

"The former Prime Minister of Canada and a personal friend of Tom Hicks"

 

Perhaps the second least qualified person in the world to offer an opinion, after Andre Lloyd Webber.

[James Dean]

Tom Hicks is a cylon.