Dubai International to make bid for Liverpool FC

[saveferris]

Would people be happy to retain Gilett as part owner?

Hicks has been mouthing off continuously, but maybe Gillet really is hacked with him too.

I would be happier, mainly because as the long essay said, he seems to have some degree of feeling towards the club and I think he is genuine.

Hicks is and was probably invited into it for the money and it may have been sold to him like that to get him on board, hence his reluctance to put cash in, if the long essay is accurate.

The 7 year DIC plan may still be accurate and exist, but it doesnt mean that whilst in charge they would invest into the club in all areas and make the business run well. Otherwise where would their profits come from. If someone comes in runs and business and then decides to leave it but in a much healthier state than when they bought it, then most businesses would be satisfied, we should be too.

[paulc]

The Beeb went with that Echo story -

Investment company Dubai International Capital ready to make offer for co-owner Tom Hicks's stake in Liverpool. (Liverpool Echo, 1324).

http://news.bbc.co.uk/sport1/hi/foot...rs/7193255.stm

scroll down and says carra does nto have a clue if he will ever win PL

[Kloppster]

I’m probably in the minority who don’t have a problem with meeting Klinnsman etc. You have to cover eventualities.

I do have a massive problem with announcing this to the press though, particularly without Rafa’s knowledge.

I agree with that (excluding the fact that Klinsmann is pants tho')

[kurtangle01]

please be true!

[Shaggy]

I know I’m extremely premature (nothing unusual in that!) but I can hardly contain my excitement!!

[Harv]

I know I’m extremely premature (nothing unusual in that!) but I can hardly contain my excitement!!

calm down mate. Nothing has happened yet. You've peaked to early

But if it does happen

[dom9]

From today's Telegraph:






Owners' dispute eclipses Liverpool's new deal
By David Bond
Last Updated: 10:35am GMT 17/01/2008


Have your say Read comments

Liverpool's American owners are edging closer to clinching a breakthrough refinancing deal with banks despite growing tensions between the club's joint chairmen Tom Hicks and George Gillett.

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According to City sources, a £350 million deal with the Royal Bank of Scotland and American investment bank Wachovia could be announced early next week. It is understood lawyers for both sides are now working through the fine print of the funding package which, if confirmed, will come six weeks before an existing one-year loan used to finance the American takeover expires. Once concluded the Americans hope the deal will restore a sense of calm to Anfield after a period of extraordinary instability.

advertisementBut the Daily Telegraph has learned that there remains deep uncertainty about the relationship between Hicks and Gillett, the two US sports entrepreneurs who bought Liverpool in a £220 million deal last February. And even if the refinancing deal is confirmed, insiders are worried about how much longer the partnership will last.

Gillett is deeply unhappy with his joint owner following his explosive remarks in which he confirmed hat the pair had approached former Germany coach Jurgen Klinsmann about taking over from Rafa Benitez. Gillett has been seriously unsettled by the reaction.

He is understood to be all the more irritated as the Hicks gaffe came despite assurances from the Texan billionaire that he would stay silent until the club's future was more secure.

Gillett has also been reluctant to press ahead with the refinancing plans, fearing that the new structure will load too much debt on to the club's balance sheet. It is also known that Gillett, the less wealthy of the two men, has been struggling to meet the banks' demands to put up £75 million each of cash and personal guarantees.

At one stage the growing split threatened to plunge the club into a new takeover battle, just 12 months after the Americans squeezed out Dubai International Capital, the investment company of Sheikh Mohammed bin Rashid al-Maktoum.

That remains a possibility, but any hopes DIC had of doing a deal with the Americans appeared to be fading.

DIC are understood to be prepared to bide their time, believing that the relationship between Hicks and Gillett could be beyond repair and that the refinancing will only be a short-term measure.

Under the terms of the deal, around half of the £350 million of debt is to be placed on to Liverpool's books, partly to finance the start of work on the new £400 million stadium at Stanley Park and to refinance £20 million of loans for new players. The move is a reversal of the vow the Americans gave when they took control not to copy the approach taken by the Glazer family at Manchester United.

The rest is to be secured against Liverpool's parent company Kop Holdings. Having blocked attempts to load all the debt on to the club last year, former chairman David Moores, who remains a director, and chief executive Rick Parry, are uneasy about how the borrowing will be serviced, with interest payments of £30 million a year.

Questions unanswered
How sound is the Hicks/Gillett relationship?
The Jurgen Klinsmann gaffe has placed extra strain on a partnership already cracking over the £350m refinancing.

How much of the £350m debt will be placed on the club?
About half, with the rest on parent company Kop Football - with interest of £30m a year.

What happens if Gillett decides to pull out of the bank deal?
He could look to bring in Dubai International Capital and try to force out Hicks.

Will DIC give up on their plans to own Liverpool?
No. They will bide their time but a quick deal is unlikely if Hicks strengthens his grip.

What does the bank deal mean for Rafa Benitez
It looks like a question of when, not if, the Spaniard leaves.

[Lecter]

I agree I can't see Hicks wanting to sell.

Merryl Lynch have announced $12 billion quarterly losses when they expected less than $5 billiion

However more interesting Bank Of Wachovia have announced that their quarterly losses are expected to far higher than expected and their CEO is reprting it as the worst situation hes seen in his 30 odd year career in the banking sector

Hicks might have no choice based on this

[Lecter]

What’s the appeal of DIC – would they definitely finance the stadium with their own money? If not, it’s no different. If so, is it actually MUCH different? There would still be ‘interest payments’ in the guise of DIC expecting a return from their investments.

I prefer the idea, but think I'd want to see their proposal

DIC would loan the stadium cost against the club

Seriously doubt they would put the cost of the takeover against the club

I dont believe many on here will be unhappy with DIC if what I'm hearing from the Echo is true

[CAD]

Merryl Lynch have announced $12 billion quarterly losses when they expected less than $5 billiion

However more interesting Bank Of Wachovia have announced that their quarterly losses are expected to far higher than expected and their CEO is reprting it as the worst situation hes seen in his 30 odd year career in the banking sector

Hicks might have no choice based on this

Hi Lec - They way these guys are connected I consider it totally unlikely that they would have problems getting a loan of this size. They will just end up using LFC as collateral. I can't see how the board (Moores) can stop them.

[Lecter]

If DIC buy Hicks stake in the club it surely is the precursor to a full takeover. I can't see how a shared ownership would work with Gillette as he obviously cannot afford to be involved in the club.

They'll take the 50% then when they invest in the club (and they will) they will expect Gillett to do at the same rate, when he cant, they will eat at his stake in the club

I can foressee a situation where Gillett has a small minority shareholding with DIC owning that vast majority and being able to force through all decisions because they will have absolute majority

[Chris]

Dubai International Capital insist they will not be affected by the worldwide credit crunch amid speculation they are set to revive their interest in Liverpool.

The Dubai-based investment company are backed by Sheikh Mohammed Bin Rashid Al Maktoum and they were beaten to the ownership of Liverpool by American pair Tom Hicks and George Gillett last year.

The uncertainty in the worldwide financial markets is believed to have prompted DIC to take a second look at Liverpool, amid suggestions Hicks is struggling to secure a refinancing deal.

DIC have refused to comment on their reported interest in Liverpool, but they claim the financial uncertainly will not prevent them from pushing through deals.

Chief executive Sameer Ansari said: "Even with the so-called credit crunch and turmoil in credit markets we are in a very strong position to do transactions at reasonable valuations and get debt for those transactions.

"We haven't felt the impact."

http://sport.setanta.com/en/Sport/News/Football/2008/01/17/Prem-DIC-Liverpool-link/

[Lecter]

Hi Lec - They way these guys are connected I consider it totally unlikely that they would have problems getting a loan of this size. They will just end up using LFC as collateral. I can't see how the board (Moores) can stop them.

Not convinced of that

[Pacman]

IF this deal goes through, I’ll skip all the way home, gleefully throwing my clothes off as I go, arrive home, slip into my wife’s lacies, get a touch on and jerk off to footage of Dubai Millennium winning the Derby for Godolphin.

[Shaggy]

Dubai International Capital insist they will not be affected by the worldwide credit crunch amid speculation they are set to revive their interest in Liverpool.

The Dubai-based investment company are backed by Sheikh Mohammed Bin Rashid Al Maktoum and they were beaten to the ownership of Liverpool by American pair Tom Hicks and George Gillett last year.

The uncertainty in the worldwide financial markets is believed to have prompted DIC to take a second look at Liverpool, amid suggestions Hicks is struggling to secure a refinancing deal.

DIC have refused to comment on their reported interest in Liverpool, but they claim the financial uncertainly will not prevent them from pushing through deals.

Chief executive Sameer Ansari said: "Even with the so-called credit crunch and turmoil in credit markets we are in a very strong position to do transactions at reasonable valuations and get debt for those transactions.

"We haven't felt the impact."

http://sport.setanta.com/en/Sport/Ne...iverpool-link/