Financial situation, doom & gloom reports etc

[tomasjj]

Hope things are good, mate.

[marcus50bucks]

Hope things are good, mate.

I'm all good my friend. I've got 3wks off uni so I'm chillin.

Things ok with you?

[AFII]

you don't know what due diligence even is

I know what it's.

I just don't think that you can go through everything in three days. DIC took over a month to go through the books.

[tomasjj]

I'm all good my friend. I've got 3wks off uni so I'm chillin.

Things ok with you?

All good, mate.

Driving up north for Xmas tomorrow morning. Then chilling for a couple of weeks as well.

[rushscored4]

Driving up north for Xmas tomorrow morning. Then chilling for a couple of weeks as well.

Chilling in the north of Norway in December? There's a surprise!!

[tomasjj]

Chilling in the north of Norway in December? There's a surprise!!

In front of the fireplace with a glass of single malt, my pipe and my slippers on....Jolly Good, I tell thee!

[enema of the state]

Well anything's possible I guess, but I think we'll have to settle for the fact that we are going to get lumbered with a huge debt. Great news no?

great news? no

but not a disaster, not the loss of the club, not even any sort of big deal at all in fact.

have you got a mortgage fella?

better to have what you cant buy outright today and carry the debt than to keep a ground thats vastly inferior to our rivals. all it requires is responsibility on behalf of the club and i see no evidence of financial irresposibility here, does anyone??

as for talking about lies, everyone should realise theres been the financial equivalent of a volcanic erruption since we were taken over. the yanks may have made the comments about no debt on the club in good faith (or not) but either way, they HAVE to reevaluate the clubs financial future in the changed environment. its just an economic fact. I think the whole rafa argument is a function of this and i also think the yanks are on the level and are committed to building a successful lfc.

your post of yesterday might be a reflection of how you feel but i dot think its a fair reflection of the current public domain facts.

you are a respected poster and people take note of what you say. when what you say is speculative and melodramatic, people will respond in the way they did. rightly so.

[enema of the state]

I know what it's.

I just don't think that you can go through everything in three days. DIC took over a month to go through the books.

whats your point mate? you think it makes H & G mugs??? because skimping on the DD is a risk only to the buyer.

if theyre mugs, theyre probably not the super smart corporate asset-strippers come to bleed us dry that some people seem to fear they are.

truth is, the length of DD is variable and is inversely proportional to how much knowledge of the business and the books the prospective buyers know/have been given access to. if a buyer knows the business and financial status of the purchased business inside out, the DD can be done in less than a day.

[ronanm]

Infact, isnt the board just Hicks and Son, Gillett and Son and then everyones favourite Chief Exec? If thats the case, then which board memebers are angry? Parry will go with the flow, if the owners want to do something then their lads arent gonna turn on them are they?

You forgot about Dunk - he has the ears of G&H and knows best - we'll be fine

[bazza76]

great news? no

but not a disaster, not the loss of the club, not even any sort of big deal at all in fact.

have you got a mortgage fella?

better to have what you cant buy outright today and carry the debt than to keep a ground thats vastly inferior to our rivals. all it requires is responsibility on behalf of the club and i see no evidence of financial irresposibility here, does anyone??

as for talking about lies, everyone should realise theres been the financial equivalent of a volcanic erruption since we were taken over. the yanks may have made the comments about no debt on the club in good faith (or not) but either way, they HAVE to reevaluate the clubs financial future in the changed environment. its just an economic fact. I think the whole rafa argument is a function of this and i also think the yanks are on the level and are committed to building a successful lfc.

your post of yesterday might be a reflection of how you feel but i dot think its a fair reflection of the current public domain facts.

you are a respected poster and people take note of what you say. when what you say is speculative and melodramatic, people will respond in the way they did. rightly so.

Good post mate. I was going to say something similar. But I wont be bothered now.
If you asked me at the start of the take over who I wanted in charge, it was DIC all the way. But I was prepared to give the Americans the benefit of the doubt. I do realise they have made certain promises. But I as you have said, there have been big changes financially since then which have forced their hand so to speak.
Bottom line is, in order to bring in money, the yanks will need success and the revenue from Champions League football every season, which means consistent investment in the transfer market. I doubt that their are so naive to think we can get by with minimal investment in players in an environment where the money seems to be flooding into the Premier League, which is the real big money maker.

[Johnny]

Another thread SPECULATING that we are in trouble.



It`s an article in the London press FFS.

It says that someone on the board is pissed off without saying who.

They go fishing and land as many fish as possible.Unfortunately some posters on here are willing to take the bait.

I`m not biting until i see some facts.


People need to relax and wait for some definate information,something i haven`t seen on any forum in months.

[bazza76]

You forgot about Dunk - he has the ears of G&H and knows best - we'll be fine

haha

[m100900]

The telegraph is the only paper reporting in detail this story which they started writing about yesterday. They give their sources. As a paper it's pretty accurate with it's football stories. More so than most.

Interesting that the Guardian put a positive spin on the same story - front page of the sports section. Depends how you want to spin I suppose - all doom and gloom or sensible business practice ?

http://football.guardian.co.uk/News_Story/0,,2230878,00.html

Liverpool's owners, George Gillett and Tom Hicks, are understood to have postponed until 2009 their plans to borrow all of the £650m required to fund a new stadium and refinance their purchase of the club. The Americans are currently trying to secure £350m from the Royal Bank of Scotland and the US bank Wachovia to refinance the loans acquired to purchase Liverpool in February, to fund the first £60m worth of work on the stadium and to cover the credit used to pay the first instalments on signings such as Fernando Torres. Plans to borrow the final £300m costs of the stadium now, however, have been shelved because of the global credit crunch and the club's existing debt.

That decision has its benefits for Liverpool because the club will be saddled with the majority of the debt and annual interest repayments will rise to about £30m once the loans are in place. Gillett and Hicks also believe it will be easier to secure loans and attract sponsors for naming rights once work on the stadium is under way, but doubts remain about their ability to secure the £300m loan in 2009 and deliver the revised project two years later.

[thekop]

Interesting that the Guardian put a positive spin on the same story - front page of the sports section. Depends how you want to spin I suppose - all doom and gloom or sensible business practice ?

http://football.guardian.co.uk/News_Story/0,,2230878,00.html

Liverpool's owners, George Gillett and Tom Hicks, are understood to have postponed until 2009 their plans to borrow all of the £650m required to fund a new stadium and refinance their purchase of the club. The Americans are currently trying to secure £350m from the Royal Bank of Scotland and the US bank Wachovia to refinance the loans acquired to purchase Liverpool in February, to fund the first £60m worth of work on the stadium and to cover the credit used to pay the first instalments on signings such as Fernando Torres. Plans to borrow the final £300m costs of the stadium now, however, have been shelved because of the global credit crunch and the club's existing debt.

That decision has its benefits for Liverpool because the club will be saddled with the majority of the debt and annual interest repayments will rise to about £30m once the loans are in place. Gillett and Hicks also believe it will be easier to secure loans and attract sponsors for naming rights once work on the stadium is under way, but doubts remain about their ability to secure the £300m loan in 2009 and deliver the revised project two years later.

Cheers matey, interesting reading that

[Tom]

great news? no

but not a disaster, not the loss of the club, not even any sort of big deal at all in fact.

have you got a mortgage fella?

Yes very carefully thought through at a fixed rate of interest. I also didn't lie when I applied for it and bought the house.

better to have what you cant buy outright today and carry the debt than to keep a ground thats vastly inferior to our rivals. all it requires is responsibility on behalf of the club and i see no evidence of financial irresposibility here, does anyone??

as for talking about lies, everyone should realise theres been the financial equivalent of a volcanic erruption since we were taken over. the yanks may have made the comments about no debt on the club in good faith (or not) but either way, they HAVE to reevaluate the clubs financial future in the changed environment. its just an economic fact. I think the whole rafa argument is a function of this and i also think the yanks are on the level and are committed to building a successful lfc.

I was in the US early this year the downturn in the housing market was well underway and the credit crunch was being talked about by everyone. Anyone with half a brain would have factored a downturn into a future business project. Now either they are fiscally incompetant or they lied to us and Moores about how they were going to fiance the club.

They're now scrabbling about trying to find the finance for the original loans to buy the club as it has to be repaid in just over a months time. Hardly smacks of economic competance

your post of yesterday might be a reflection of how you feel but i dot think its a fair reflection of the current public domain facts.
.

Ok lets look at the facts.

- We're told that the financing of the club will not be paid by loading debt on the club.

Now we find out that £270 million acquisition debt is to be put on to the club's books. Interest payments of 30 million a year.

This is splitting the board and Moores is having Kittens.

-On public television wads of cash are flashed and the manager is promised snoogy doogy if he wants him.

We spend slightly more than we do normally and less than sunderland. We now find out that the Torres deal is going to be paid for by this debt. So in effect the yanks have barely backed the club at all. We're buying him by going into debt. We're paying for him. Another broken promise or lie if you want to put it that way.

Rafa is publically slapped down, told to button it and told he wont have any money for transfers unless we sell. Another broken promise.

- The fiasco of the stadium
Again, any competant financier would have known the trajectory for the price of steel is on an upward curve because of China. This should have been built into any financial model of budget overspend. Why wasn't it?

Nothing they have done fills me with confidence. They operate on the other side of the world, they don't understand football culture and they are not backing our manager in the way they should.

Not to mention the stuff about Rafa being sacked at the end of the season, the Mascher situation and the fact that they have already talked to other managers. You may you consider this hearsay but this is from people I've known a long time who love the club and have a bloody good idea of what is happening inside it.

Now in the face of all this, to accuse me of being melodramatic does me a disservice mate.