Originally posted by enema of the state
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Latest from tony barratt in the Echo today...............
TOM Hicks has repeated his desire to hold on to his stake in Liverpool Football Club – and also insisted co-chairman George Gillett is not interested in selling up either.
As revealed in yesterday's ECHO, Dubai International Capital is ready to launch its second bid to buy into the club in less than a year.
But Hicks is adamant any such approach will fall upon deaf ears.
A spokesman for the Dallas-based multi-millionaire said: "Any suggestion that Messrs Hicks and Gillett are contemplating a sale of the club or any portion thereof to DIC or anyone else is categorically untrue."
The duo now face a crucial week, both in terms of their own partnership and the future of the club they bought in February last year.
A finanacial restructuring deal which will allow them to borrow around £350m from the Royal Bank of Scotland and American investment bank Wachovia is close to completion.
If that deal is signed by both parties it will allow them to use the loan to wipe out the initial £218.9m debt accrued when purchasing Liverpool and also give them the necessary finance to start work on the long awaited new stadium.
But the new debt would be loaded onto the club, a situation which is causing concern among other members of the club's board.
Gillett has remained silent in recent weeks as he contemplates his next move but crunch time is approaching and in the next seven days he will have to decide if the restructuring deal which remains on the table is the right path for both himself and the club to follow.
Should he decide not to sign up to the deal then the door will be left ajar for DIC to make their approach.
DIC lost out in the pursuit of the former chairman David Moores' majority shareholding last February when its failure to meet agreed deadlines for the takeover enabled the Americans to succeed with a late and more lucrative bid. Though it withdrew acrimoniously from negotiations, DIC has maintained its interest and, having baulked at a £150m asking price for a 15% stake last October, Sheikh Mohammed bin Rashid al-Maktoum's investment company now hopes to capitalise on any disunity between Hicks and Gillett.
The statement released by Hicks' spokesman on both of their behalfs suggests there may be no disunity for them to exploit and if Gillett signs up to the restructuring deal it would represent the biggest statement of intent he could make at this time.
[email protected]Reece, get off my wife.:whatever:Comment
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Nothing new in Barrets echo piece. I do find it strange that Gillette, Parry, Moores or DIC have remained silent as they seem to be the main players. Hicks who seems to be isolated now made an immediate statement to refute the takeover claims. I honestly believe that something is going on behind the scenes.Dare we believe
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FFS....this is depressing stuff.
Hicks, pack it in. Take your profit and **** off.
We don't like you and your ways.--== Because the gang and the government is no different ==--Comment
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That could be interpreted as Hicks calling Gilett's bluff. If Gilett now comes out & goes against him it is a direct confrontation- he's trying to bully Gillett into siding with him.Originally posted by Manofthebog View Post
Whatever, we need these cunts out now- they are like leprosy at the heart of our club.3rd place. Worst champions ever.
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I actually think the wording IF is quite interesting... I am proberly (nay definitly) reading to much in to it, but could seem like Hicks has signed, and Gillet is still on the hold trying to figure out what to do... So there is a rift!Originally posted by PC Plod View Post
The fans really need to put pressure on Gillet now, get him away from hicks and perhaps force him to sell if possible...Comment
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Can we not flood Gillett with emails begging him to get rid of Hicks? Honestly, I wonder if they ever know the extent of feeling this side of the pond."Its not about the long ball or the short ball, its about the right ball." Bob PaisleyComment
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Not sure if this is posted
Owners change ‘Liverpool Way’
Jan 18 2008
by Sam Johnstone, Liverpool Daily Post
THE trouble with writing a column for a Friday is that if anything happens on a Monday that makes me angry, I’ve usually calmed down a bit when I come time to write.
Not this week, though.
The constant undermining of the manager by the owners has made the blood boil of every Liverpool supporter, and any shred of good feeling towards Mr Hicks in particular is close to leaving town for good.
We welcomed the investment in the club; we welcomed the desire to learn about the game and, more importantly, the traditions and history of Liverpool FC.
We even forgave them the slips in terminology when describing players and systems.
But it’s gone too far now. The owners either haven’t bothered listening or have ignored what was said to them. American sport is run differently, but we expected (and were promised) a more traditional English way of doing things. We didn’t want them to embrace tea, scones and all things English (although a plate of Scouse would do them some good!), but we did imagine that their desire to learn about the club was because they didn’t want to change the ‘Liverpool Way’.
How naïve of us! The past fortnight has seen the running of Liverpool FC become a farce worthy of Sir Brian Rix himself. Firstly the spat with Rafa, then the pointed Press releases on the official website (which many fans thought were disgraceful), then the refinancing and stadium problems with Klinsmann-gate being the culmination of a few months of nonsense.
For a start, it is highly unprofessional to treat your club manager the way Rafa has been treated. To say that Jurgen Klinsmann was approached first and foremost for his knowledge of the English and European games is disingenuous; what’s wrong with talking to Rafa? Who has a better knowledge than Benitez?
Rafa’s character is obviously strong, and though the team haven’t been performing to their potential, all fans are right behind the manager. If anything, the games played by the owners have increased Rafa’s popularity!
It’s been a poor show all round from the administrators, Rick Parry included.
So where do we go from here? If the rumours are to be believed, DIC are just waiting for the opportunity to relieve Tom Hicks of his share, and though I preferred the American proposals to the Dubai offer, I wouldn’t shed a tear if the Texan moved on.
If all we are to him is franchise that has to realise a profit on his investment by any means necessary, then he shouldn’t be at Liverpool FC.
Perhaps Mr Hicks has had enough and wants to cash in (a profit of £75 million for each of the owners has been mooted), but what of George Gillett?
His silence has been deafening, and though he was present at the Klinsmann meeting, he’s always struck me as the more likely to be the sort of Chairman this club should have.
For all the problems David Moores had with trying to finance us to compete, he was the perfect custodian of the club.
He stayed away from the headlines, conducted private business in a quiet and dignified way and backed his manager to the hilt.
If the owners do stay, they will have to go a long way to appease the supporters after all the hassles and shenanigans of the last couple of months.
They could start by publicly supporting the manager (not through a Press release from 4,000 miles away) and taking a few lessons from Mr Moores on how to run a football club.
Dare we believeComment
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By Elena Moya (Reuters)
LONDON, Jan 17 (Reuters) - The keenly awaited refinancing of British soccer club Liverpool FC is set to be closed before the end of February, a source familiar with the deal said on Thursday.
The 300 million pound ($589 million) debt refinancing, expected to be completed by the end of November, has been delayed amid turmoil in the credit markets.
Banks, facing multi-billion pound losses linked to the U.S. sub-prime crisis, have tightened up lending, or are charging more to assume risk.
The deal will go ahead, although it may not include an additional amount, of about 40 million pounds, earmarked for the start of building a new stadium, the source said.
Liverpool's debt facility with Royal Bank of Scotland, taken out by U.S. billionaires Tom Hicks and George Gillett to acquire the club, expires in February.
Wachovia Corp, the fourth-largest U.S. bank, is arranging the refinancing.Comment
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The deal will go ahead, although it may not include an additional amount, of about 40 million pounds, earmarked for the start of building a new stadium, the source said.
This is even worse then we thought because if we don't build a new stadium the club will be crippled trying to repay this huge loan at our current stadium capacity, it doesn't make sense to me at the moment.Last edited by Armchairkopite; 18-01-08, 01:43 PM.Comment
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The LFC mag can be READ in all good newsagents now, no need to buy, But pick a large newsagent so you can go unnoticed.
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Having given some thought to what could have motivated Hicks' going public about Klinnsman, I believe the most likely explanation is that he was trying to force Gillett's hand.Originally posted by PC Plod View Post
By making the fans turn on them both, Hicks may have attempted to destroy any emotional investment Gillett had made and leave him with only a financial interest in the club.
At this stage, it would be ridiculous for either Hicks or Gillett to admit any division as that would play straight into DIC's hands. But the latest statements coming from the Hicks camp do have the effect of calling George's bluff.
It seems as though DIC may be already attempting to exploit the reported American's split with a divide-and-conquer strategy.It's not good because it's rude. It's good because it looks like it's good because it's rude.Comment
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