Dubai International to make bid for Liverpool FC

[Revo]

That's the kind of "concrete" evidence you're always bleating about though isn't it? Fact is this:

If the credit crunch hasn't affected them, why are they scrabbling about for loans?

Of course they could be lying....

Thanks for voicing my concern comrade

[sonsofthedesert]

That's the kind of "concrete" evidence you're always bleating about though isn't it? Fact is this:

If the credit crunch hasn't affected them, why are they scrabbling about for loans?

Of course they could be lying....

The more I have thought about this the more I believe it is because so many lenders are worried about the amount that they want to borrow based upon the clubs profits. The level of debt wanted doesn't stack up with the clubs present profit.

[tomasjj]

To be fair, Rashid said he got a poll into two papers.

[kurtangle01]

That's the kind of "concrete" evidence you're always bleating about though isn't it? Fact is this:

If the credit crunch hasn't affected them, why are they scrabbling about for loans?

Of course they could be lying....

Not even that. They're not even taking the full loan to pay for the stadium. If they hadn't been affected they would take a loan for the stadium and the refinancing in one.

The credit crunch has clearly affected them.

[Tom]

Rashid deserves some respect for this. Well done fella.

[AFII]

Rashid deserves some respect for this. Well done fella.

[Slinky Skills]

Not even that. They're not even taking the full loan to pay for the stadium. If they hadn't been affected they would take a loan for the stadium and the refinancing in one.

The credit crunch has clearly affected them.

Good point.

[kurtangle01]

The more I have thought about this the more I believe it is because so many lenders are worried about the amount that they want to borrow based upon the clubs profits. The level of debt wanted doesn't stack up with the clubs present profit.

Hence the reason the banks have asked for personal security from them both.

One thing that worries me is that they stand to lose nothing if all of this falls flat. They'll walk away and will have lost diddly squat because they put **** all in and everything is against the club. It's people like us, the fans, who'll be left to pick up the pieces of the mess they've left. Yet, if you believe the press, Gillett is concerned about the deal because it could be potentiall crippling for the club. He stands to lose nothing yet he's worried about the terms of the deal? That alone proves that we're on a knife edge.

[Danish_Pastry]

Not even that. They're not even taking the full loan to pay for the stadium. If they hadn't been affected they would take a loan for the stadium and the refinancing in one.

The credit crunch has clearly affected them.

Thats rigth - this loan has nothing to do with the stadium - its a re-loan for teir loan to buy the club and to pay the up-front-money for Torres, Babel and Leiva. There should have been 30m£ on top of this loan to start the stadium - but that has been taken off. This loan will cost ALL the yearly turnover (so where should there be money for new transfers or contractrenewals ???)

There will be moved NO sand, stone or anything for the stadium, before another HUGE loan is taken (or DIC has reorganized the economy in one way or another). The interest for this loan will just go above LFCs turnover - and motivate Hick to sell us in pieces....

[sonsofthedesert]

Hence the reason the banks have asked for personal security from them both.

One thing that worries me is that they stand to lose nothing if all of this falls flat. They'll walk away and will have lost diddly squat because they put **** all in and everything is against the club. It's people like us, the fans, who'll be left to pick up the pieces of the mess they've left. Yet, if you believe the press, Gillett is concerned about the deal because it could be potentiall crippling for the club. He stands to lose nothing yet he's worried about the terms of the deal? That alone proves that we're on a knife edge.

Sorry was trying to say I didn't think the credit crunch has caused it and it was only the levels of debt that concerned the banks and it would have been like this even in a good market. All I can hope for is that Rashid, Tom and the press are right and Hicks ****s off.

[dawmdt]

The dollar is worth even less than it was a yr ago.Building materials are more expensive.The credit crunch.It all adds up.Be reasonable.It changes things and they`ve had to have a rethink.

I wish people would stop misusing this. No it isn't. It took a dip during the last 12 months but compared to 12 months ago it's worth roughly 0.8% more against the pound and the futures market seems to predicting a drift towards it being worth more over the next 12 months.

Not saying I disagree with your other points Johnny we should stop perpetuating this one because it keeps on coming up

[sonsofthedesert]

From The Times
January 19, 2008

Rafael Benitez tries to smile through uncertainty of ownership struggle

James Ducker
As judgment day looms for Liverpool’s embattled American owners, Rafael BenÍtez attempted to put on a brave face yesterday, the manager insisting that the chaos at the club off the field would only pull him and his players closer together as they seek to bring some relief to concerned supporters.

For all his efforts to remain upbeat and toe the party line, however, it still promises to be a critical week for the future of English football’s most successful club.

What initially started out as a clash between manager and proprietor has escalated into a battle between the two owners, George Gillett Jr and Tom Hicks, but there were no concrete indications last night as to how this struggle for power at Anfield will play out.

One well-placed source at the club suggested that, with Monday a Bank Holiday in the US, it could be “two or three” days yet before the owners’ intentions become clear, with Gillett mulling over whether to support a plan, backed by Dubai International Capital (DIC), to buy out Hicks’s 50 per cent shareholding or throw his weight behind a controversial refinancing package that would strengthen his partner’s hold on the club but weaken his own.

It is a situation that is thought to be causing Gillett considerable stress. On the one hand he is understood to have serious misgivings about his continued involvement with Hicks, who has proved anything but the silent partner he hoped for when he brought the Texan on board to help to secure their takeover of the club in February last year, not least when admitting this

I week that he had talked to Jürgen Klinsmann about succeeding BenÍtez before the former Germany coach took charge at Bayern Munich.

If he reluctantly commits to the £350 million refinancing package that Hicks has been pushing hard for, Gillett knows that they will be committed to working together, despite a growing acceptance that their long-term relationship is untenable.

On the other hand, Gillett cannot be sure how Hicks will react if he uses the financial clout of DIC, the private equity arm of Dubai that was gazumped by the Americans in their bid to purchase Liverpool last year, to attempt to buy out his partner’s stake.

Insiders said last night that they were “in the dark” as to whether Hicks would be willing to sell, although if his spokesman’s remarks on Thursday were anything to go by, he will not be doing so. Equally, even if a favourable offer is put to him by Gillett – and there remains only a “10 to 15 per cent” chance of that happening, according to sources – Hicks may take exception to his partner aligning himself with DIC and attempt to drive up the price of his shareholding or lodge a counter offer.

With the £350 million loan that would allow the Americans to repay money borrowed from their takeover and begin work on a new 70,000-seat stadium in Stanley Park expected to be in place early next week, however, the only thing that is clear is that Gillett has little time to decide what to do. Either he signs the terms of the loan on offer and effectively bows to Hicks, or he goes with DIC and hopes that Hicks reacts positively.

Whatever the outcome, the futures of many at Anfield are likely to be in doubt. BenÍtez has next to no support from Hicks and Gillett, but the manager is unlikely to be much better off in the event that DIC comes on board, with the Arab-run consortium known to favour the appointment of its own man. Likewise, Rick Parry, the Liverpool chief executive, who has come in for some fierce criticism for agreeing to the Americans’ takeover, may also be under threat.

At least BenÍtez retains the loyalty of his players and the fans. “When you play well, I think it shows the team spirit is much better and the confidence of the players is higher,” BenÍtez said. “It’s easier when you are winning, so we need to win some games in a row and everything will be much better.”

[sonsofthedesert]

You're not fit to run our club, blast Liverpool fans
Last updated at 22:22pm on 18th January 2008


Tom Hicks and George Gillett will be targeted by angry Liverpool fans on Monday in the first orchestrated show of dissent against their Anfield reign.

After weeks of voicing their support for Rafa Benitez, over the mounting threat to his position as Liverpool manager, Anfield followers are about to adopt a different approach by turning their fury on his bosses, Hicks and Gillett.

Influential website Reclaim The Kop, who organised the pro-Benitez demonstration prior to the Champions League tie with Porto two months ago, have launched a scathing attack on the Americans and urged a capacity Anfield crowd to follow suit against Aston Villa on Monday night.

In a press release, they claimed Hicks and Gillett were 'not fit to be associated with our club' and added that forcing them out might be the only way to save Benitez.

'We allowed ourselves to believe that they had a gut sense of Liverpool's specialness,' it said. 'They gave a good impression of understanding and cherishing The Liverpool Way, but the current situation is unworkable.

'There is a minimum acceptable standard of ownership and Hicks and Gillett have fallen badly short.

Rafa, with his ingrained sense of honour, dignity and morality, has been publicly humiliated by them and would have walked away by now but for one small thing the Americans will never get.

'He loves it here. He loves the club, the fans, the city and The Liverpool Way. More than anybody at the club, he is desperate to deliver for us that which we long for so badly.

'They will sack him in the summer. They have left themselves with no other option, so while it gives us no joy to recommend it, we have to drive them out.

'These are critical times for Liverpool FC. If Hicks stays, Rafa goes — simple as that. And if Rafa goes, the empire he is building crumbles. After giving Rafa a vote of no-confidence, he (Hicks) will have to sack him in the summer — unless the owners are not here. We have to give our answer loud and clear, starting on Monday night.'

Hicks denied on Thursday that he was considering selling his Anfield stake to Dubai International Capital but he may have second thoughts if vocal backing for Benitez turns into open hostility towards himself and Gillett.

Around 2,000 fans responded to a call from Reclaim The Kop in November and marched from a nearby pub to the ground, shouting slogans and carrying banners.

The protests were sparked by Benitez's fears that he was about to be ousted and his hold on power has been eroded still further by Hicks' recent admission that he offered the manager's job to Jurgen Klinsmann.

Doubts remain about Benitez's ability to survive beyond the end of the season. As he prepared for the Villa game, he insisted unity within the squad was a strong as ever and made light of an apparent refusal by Steven Gerrard and Jamie Carragher to back him publicly.

Gerrard shook his head when asked whether Tuesday's 5-0 FA Cup third round replay win was 'for the manager', while Carragher admitted he 'hadn't a clue' whether the 47-year old Spaniard could deliver the main prize of a Barclays Premier League title.

'I am not concerned about that one bit,' said Benitez. 'We have all spoken before about the importance of doing the right thing for the club, not individuals, and they were echoing what I have always believed.

'I have a fantastic relationship with the players, even if I wasn't invited to their Christmas party! The relationship is as good as ever, and Stevie and Carra know I have always supported them strongly.'

[Lecter]

The dollar is worth even less than it was a yr ago.Building materials are more expensive.The credit crunch.It all adds up.Be reasonable.It changes things and they`ve had to have a rethink.

The dollar - sterling exchange rate when GG&TH took over was $1.94/1.95 = £1

Didnt see the figures today but yesterday is was $1.9678 = £1

Not a massive difference

[Johnny]

Tis very true. No one really has a clue. Not a god damn clue.