Go fuck yourselves FSG

[Skidfingers McGonical]

 

and Rory when he was at the telegraph.

 

Liverpool takeover: Peter Lim withdraws bid for club after Anfield board's refusal to meet - Telegraph

 

As I understand you'd be talking about the 5th oct' date=' where it was decided to go with NESV mostly thru Broughton.. so from the the 5th were he understood he was the prefered bidder, what changed? because after that he seems frozen out.

 

Liverpool takeover: Peter Lim may sue club over bidding process - Telegraph

 

Liverpool takeover: Peter Lim withdraws bid for club after Anfield board's refusal to meet - Telegraph

 

BBC News - Liverpool to receive new bid from Singapore billionaire

 

Why was Broughton all for NESV?

 

Rory Smith? Ha so wrong so many times.

[RedKnight]

Wrong so many times but arrogantly superior all the time.

[RobbieOR]

I'm still waiting for us to sign Drogba and Iniesta.

[JohnnyH]

I'm still waiting for us to sign Drogba and Iniesta.

 

At this stage I’ve resigned myself to the fact that we might only get one of them.

[Ranxerox]

I tell you what if I was from the planet zog I'd be pretty annoyed people constantly assume we were out of touch with current affairs.

 

Obviously Zog could use a good media consultant....JC?

[xerxes]

Stop pretending you know things, xerxes

Your inability to understand the message resulting in you haplessly striking the messenger speaks volumes.

 

I care nothing for what you think of me. But if you think that you can deconstruct my case, do so.

 

Why do you think that we went for the deposit down, established investment group with proof of funds and the ability to exchange and complete in days in favour of............er..............Lim?

 

I'm looking forwards to this.

[Code]

Now I'm not involved in a lot of billion £ deals on a daily basis, but this non refundable deposit sounds a bit strange to me.

 

How does that work exactly?

 

The club was whored around for months/years so why would anyone come up with a non-refundable deposit to be allowed to put a bid in to "save" us?

 

Please explain.

[Trumo]

Putting in a non-refundable deposit shows that you are serious about buying the club, and also that you have the necessary funds in place to do a deal. Chancers will usually be found out by this stage, even if they've previously gone public about what their intentions are and about how much backing they have (see Kenny Huang).

[Barzini]

Out of interest, how much would the deposit be?

[xerxes]

Now I'm not involved in a lot of billion £ deals on a daily basis, but this non refundable deposit sounds a bit strange to me.

 

How does that work exactly?

 

The club was whored around for months/years so why would anyone come up with a non-refundable deposit to be allowed to put a bid in to "save" us?

 

Please explain.

 

Trumo explains the situation well.

 

It is a statement of good faith. If you proceed the money is part of the overall purchase transaction. If the vendor (the Club) withdraws you get your money back. If you withdraw, you don't.If you fail to perform it is either lost or converted into a minority holding depending on the sum and contract.

 

Typically 10 % may be requested, but in practise it may be a reduced, but still substantial, sum, enough to smoke out the chancers (Lim).

 

At Birmingham, Yeung put down £28m, failed to complete on the £81.5m deal, but his deposit was accepted as a minority shareholding rather than lost. He subsequently took a year to raise the balance of the cash required. Some allege that he made a substantial personal profit in selling the remaining 70% for more than the balance owed to BCFC, although that is not proven.He is currently facing serious money laundering charges and is due to be tried for them.

[Code]

Trumo explains the situation well.

 

It is a statement of good faith. If you proceed the money is part of the overall purchase transaction. If the vendor (the Club) withdraws you get your money back. If you withdraw, you don't.If you fail to perform it is either lost or converted into a minority holding depending on the sum and contract.

 

Typically 10 % may be requested, but in practise it may be a reduced, but still substantial, sum, enough to smoke out the chancers (Lim).

 

 

This was really what I wondered about, so its not really non-refundable then as it will be refunded if you are not the chosen buyer.

[TheHitman]

Looking back at it Peter Lim does seem a credible buyer.

 

When you think about it, we have quite a confused consortium of people owning the club now. Maybe no different to what Lim was sorting out at worst case.

[Delmar]

This was really what I wondered about, so its not really non-refundable then as it will be refunded if you are not the chosen buyer.

 

You are thinking about a non-refundable fee just to place a bid or to participate in a bidding process. That can never be very high. Or hardly ever high enough to smoke out people you want to smoke out.

[xerxes]

Looking back at it Peter Lim does seem a credible buyer.

 

RBS had a legal obligation to secure the best possible price for the sale of LFC. Failure to do so would have resulted in H&G being able to sue RBS. They did not sue RBS for failing to take a higher deliverable offer from Lim, QED.

 

Agreeing a price, and the ability of that purchaser to be able to perform to set criteria are two different things. If Purslow and Ayre, who were Directors at the time, were not satisfied that FSG offered the best deliverable price they were free to vote against FSG’s bid. They did not, QED.

 

It is common for under-bidders to try to spoil a higher bid by gazumping it, and sorting out the detail afterwards. A non-refundable deposit and a solicitor’s letter confirming funds is what is required. FSG supplied that, Lim did not. By any measure, Lim had enjoyed plenty of time during the sale process to get his house in order.

 

No-one has offered any suggestion as to why Broughton would not have accepted Lim’s bid if it had been both higher, and proceedable.

 

Broughton was superb throughout and is a salutary reminder of what you get when you recruit class personnel. Broughton was able to defeat G&H in the Courts in the UK and USA, and deliver a solvent buyer to save LFC and dig RBS out of a hole. A tremendous achievement.

 

Ayre couldn’t even sort out an FA Tribunal, that is the gulf in class between the two men.

[The Acolyte]

Looking back at it Peter Lim does seem a credible buyer.

 

When you think about it, we have quite a confused consortium of people owning the club now. Maybe no different to what Lim was sorting out at worst case.

 

When Broughton and the rest were deciding between Lim and NESV was the Caston Leung thing kicking off with Birmingham FC? If so it could've been that that swayed their thinking to NESV?

[xerxes]

When Broughton and the rest were deciding between Lim and NESV was the Caston Leung thing kicking off with Birmingham FC? If so it could've been that that swayed their thinking to NESV?

 

Yeung's takeover of City dates from summer 2007. I don't think that it was a significant factor, Lim's (legitimate) gameplay is well worn in business.

[Trumo]

Yeung's takeover of City dates from summer 2007. I don't think that it was a significant factor, Lim's (legitimate) gameplay is well worn in business.

 

Yeung didn't take over at Birmingham until the 2009/10 season, and issues regarding that takeover were still ongoing by the time Broughton joined our board in spring 2010, so I would say it is pretty likely that the Carson Yeung situation at Birmingham might have had some influence on Broughton's thinking about Lim's bid. I am certain it had a bearing on the thinking over the Huang bid, because CIC had issued denials about their involvement with Huang after the rumoured Huang bid became public here, which immediately poured cold water on Huang's claims to have significant financial backing from the Chinese.

[xerxes]

Yeung didn't take over at Birmingham until the 2009/10 season, and issues regarding that takeover were still ongoing by the time Broughton joined our board in spring 2010, so I would say it is pretty likely that the Carson Yeung situation at Birmingham might have had some influence on Broughton's thinking about Lim's bid. I am certain it had a bearing on the thinking over the Huang bid, because CIC had issued denials about their involvement with Huang after the rumoured Huang bid became public here, which immediately poured cold water on Huang's claims to have significant financial backing from the Chinese.

 

All fair comment Trumo.

 

The key point here is that in any large financial acquisition there is always posturing, and manoeuvring. We were very fortunate to have Broughton on the team. His simple strategy of “make your offer, give us your deposit and produce a legally binding confirmation of funds from your solicitor and we will decide” worked.

 

There will always be , “would have could have should have” speculation around any deal. In the final analysis FSG did, and Lim didn’t.

[Trumo]

Where did he state it was CIC?

 

I never said he did! I wrote that it was reported in the UK media (Tony Evans at The Times) that CIC were Huang's backers. CIC denied it, and Huang, rather than come forward to the board with details of his bid, chose to tell the media that he was withdrawing because the board wouldn't play ball. His bid was shrouded in mystery, and the UK media put the unfounded meat on the bones and made claims that the club would have access to resources that would blow everybody else out of the water. Somebody somewhere must have made a connection to CIC.

 

odd now that CRCC is state owned in China and behind the Huang inter thing? Bit secretive are the chinese. They do it through a group of subsids all leading back to the state, in inters case China Railway 15th Bureau Group Co Ltd(Which Huang is involved with thru Rocket Capital).

 

Huang and his lot are not exactly throwing money at Inter. They have a seat on the board and have talked about building a new stadium, but there has been nothing other than talk so far. As I said before, CIC denied the link to Huang with regards to the Liverpool bid, but I am not assuming that to mean Huang doesn't have some sort of business relationship with the Chinese state somewhere down the line. After all, he is known to be a fairly prominent businessman. And Huang's status may well have changed since 2010. I've not exactly followed his progress since then!

 

Huang is just a face much like JW Henry.. only KH has not had to close his investment firm as of yet like JW..

 

Yes, Henry is the public face of FSG, along with Werner to a lesser extent. But as I said before, Henry's consortium (then called NESV) was already in place and operating, what with owning the Red Sox and so on. Henry didn't put together a consortium for the sole purpose of buying Liverpool, nor did his bid depend upon later backing from other sources, unlike Huang, Lim, Yeung at Birmingham,...

 

Also, Henry has not had a direct involvement with that particular investment fund for a long time now. Closing it simply means the investors will get their money back. That money is sitting in the investment fund, not coming out of Henry's personal wealth. Henry is still involved with other investment funds.

 

pretty sure Rocket Capital had brought into the China railway group before the proposed takover of us(linked article proves this).

 

Huang chasing home run for Chinese sports | South China Morning Post

 

I don't know anything about that, therefore I have never made any reference to it to back up any of the points I've made on this or any other thread.

[Ranxerox]

Its all rather irrelevant though isn't it as FSG are the owners for better or worse.

[Heinze]

Does anyone have a link to that bollywood video spoof about purslow??

 

Has some subtitles "cunts called me cecil" etc.

 

edit: found it BOMBAY-TV / Captain / Subtitle movie

Edited November 16, 2012 by Heinze

[Guest San Don]

Its all rather irrelevant though isn't it as FSG are the owners for better or worse.

 

Spot on. People will misconstrue events that have gone before such as who was involved with who's consortium, so and so would have been better buyers blah, blah, fucking blah.

 

Our bed is made. We have to lie in it for better or worse until some event changes it.

 

Im fucking gutted at where we are at now, it's every bit as serious (well almost) as being on the verge of admin. Unless big numbers are pumped into the club quickly (and taking any FFP hit UEFA decide to dish out) we are not just in danger of becoming a 'top 6' side but one that could struggle to make 8th. Fucking 8th!! We've only finished that low a couple of times since we were promoted.

 

We've got owners who fucked their own choice manager over, a manager who talks about 'bigger' clubs (seem to remember hodgson getting vilified for something similar), talks about where we are 'at' and other 'bigger' clubs like citeh circling over our best players, not to mention one game wonder swedish gobshites telling Gerrard to join a 'big international' club.

 

Fucking hell, my head hurts.

[RobbieOR]

it's every bit as serious (well almost) as being on the verge of admin

 

haha, what the fuck?

[John McClane]

Administration?

what, where, when, how??

[Guest ShoePiss]

Hey ATK, do a google search on sinn fein l.p.

 

Haha!