Shareholders await offers
By Andrew Scurr - Created on 14 Feb 2007
Liverpool shareholders have yet to receive a formal offer from new owners Tom Hicks and George Gillett for their holdings in the club.
Gillett and Hicks completed a takeover of The Reds earlier this month in a deal worth a reported £470million, however, the American duo have not approached the club's remaining shareholders to make a formal offer.
It is still expected the majority will sell when the offer does come, with incentives of season tickets for life and other privileges for shareholders willing to offload their holdings to the new owners.
"Up until now that concession has never been put in writing, it is just accepted that shareholders are able to buy such tickets," a senior shareholder said.
"But the new consortium are actually prepared to put that down in stone for ever. It has swayed a lot of people.
"Many shareholders have now had the chance to discuss the takeover and, although we have not as yet had any formal offer in writing, there is a general acceptance that it is the best for the club now.
"We have all received an 18-page document from (chairman) David Moores explaining the situation and revealing that he, director Terry Smith and Granada have agreed to sell.
"That gives Hicks and Gillett 62 per cent. If (third-biggest shareholder) Steve Morgan sells too, they are up to 68 per cent, and they need just 75 per cent for the offer to become unconditional.
"When they get to 90 per cent they can force everyone else to sell. But the offer of privileges for current shareholders will not, obviously, apply to people who decline to sell.
"It is a major incentive for everyone to be on board. If they get to 90 per cent they may well not even bother to force the rest to sell, they can take the club private and still do what they want."
Meanwhile, Liverpool chief executive Rick Parry is currently in America discussing plans for the club with Hicks and Gillett.
One major topic is the new Stanley Park stadium, with the new owners keen to have an input on the design.
http://home.skysports.com/list.aspx?...fers&channel=&
By Andrew Scurr - Created on 14 Feb 2007
Liverpool shareholders have yet to receive a formal offer from new owners Tom Hicks and George Gillett for their holdings in the club.
Gillett and Hicks completed a takeover of The Reds earlier this month in a deal worth a reported £470million, however, the American duo have not approached the club's remaining shareholders to make a formal offer.
It is still expected the majority will sell when the offer does come, with incentives of season tickets for life and other privileges for shareholders willing to offload their holdings to the new owners.
"Up until now that concession has never been put in writing, it is just accepted that shareholders are able to buy such tickets," a senior shareholder said.
"But the new consortium are actually prepared to put that down in stone for ever. It has swayed a lot of people.
"Many shareholders have now had the chance to discuss the takeover and, although we have not as yet had any formal offer in writing, there is a general acceptance that it is the best for the club now.
"We have all received an 18-page document from (chairman) David Moores explaining the situation and revealing that he, director Terry Smith and Granada have agreed to sell.
"That gives Hicks and Gillett 62 per cent. If (third-biggest shareholder) Steve Morgan sells too, they are up to 68 per cent, and they need just 75 per cent for the offer to become unconditional.
"When they get to 90 per cent they can force everyone else to sell. But the offer of privileges for current shareholders will not, obviously, apply to people who decline to sell.
"It is a major incentive for everyone to be on board. If they get to 90 per cent they may well not even bother to force the rest to sell, they can take the club private and still do what they want."
Meanwhile, Liverpool chief executive Rick Parry is currently in America discussing plans for the club with Hicks and Gillett.
One major topic is the new Stanley Park stadium, with the new owners keen to have an input on the design.
http://home.skysports.com/list.aspx?...fers&channel=&
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