Dubai International to make bid for Liverpool FC

[Pacman]

Liverpool FC deal soon, amount may change -source
Thu Jan 17, 2008 3:04pm GMT Email | Print | Share| Single Page | Recommend (0) [-] Text [+] By Elena Moya

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. (Editing by Quentin Bryar)

I knew it was to good to be true

[Manofthebog]

In Parry we trust.

[Chris]

I knew it was to good to be true

Thats been rumoured for ages and kept being put back for ages, means **** all really. We'll just have to wait and see.

[CAD]

Fella, im still none the wiser

This is me your talking to hear so if you can get the crayons out and give me a ****in clue like

People are dreaming while the press puts spin on everything and we all hope it's true because it's better than the alternative - G&H staying in charge.

[Morten_nogamst_Pedersen]

Everybody, We're now back to planet earth.

[Pacman]

Everybody, We're now back to planet earth.

Silly me.

Note to self: Never get your hopes built up where Liverpool are concerned

[Neil Young]

Silly me.

Note to self: Never get your hopes built up where Liverpool are concerned

Building yourself up is the last thing you need.

[Chris]

Dunno why people are so upset with the reuters article. Read Barretts piece :

"Co-owners Hicks and Gillett are edging closer to clinching a refinancing deal.

But DIC are hoping to make a move before any deal is completed."

It's nothing we didnt already know.

[Tee]

Come on DIC!! Get it up 'em!!

[Vermilion]

So H&G end up doing the deal at the worst possible time financially, which in turn means in the long run LIVERPOOL FC lose out.

[CAD]

Liverpool FC deal soon, amount may change -source
Thu Jan 17, 2008 3:04pm GMT Email | Print | Share| Single Page | Recommend (0) [-] Text [+] By Elena Moya

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. (Editing by Quentin Bryar)

The scenario where G&H has to sell because they can't finance a new loan doesn't exist. Never did. It's utter bollocks.

And why is it DIC will throw 350mill after LFC now and didn't want to do so last year? Makes no sense. Don't tell me the didn't get the chance last time around. They walked away pissed off. These smart Arabs refuse to meet 270mill& in feb 2007 and G&H wins LFC. Less than a year after they come back and pay about 80mill£ more for the same product?

Plausible - in Lala land yes. Realistic - hardly.

[bobbyfallon]

How do I get a one way ticket there?

anywhere would be better than where you are

[Morten_nogamst_Pedersen]

The scenario where G&H has to sell because they can't finance a new loan doesn't exist. Never did. It's utter bollocks.

Alright mr knowitall.
Should have listened to you before

[Tom]

shamelessly nicked from 6CM

A good and trusted source for inside info from Anfield posts on football.com. here is his latest post -


Quote:
Hello,

The Dubai group were not best pleased when they were 'stabbed in the back' by Rick Parry back in December 2006.

During December 2006, D.I.C thought they had secured Liverpool, but due to 'mystery' leaks coming out from the Dubai Group, documents were gifted to Rick Parry, that he in turn gave to George Gillett. That enabled Gillett to form his speedy relationship with Tom Hicks.

Once they knew what D.I.C's final offer would be & when it was to be submitted, all they had to do was wait for D.I.C to make that final offer - then make there move.

I know from taking with my source that Tom Hicks is seen as the mover & shaker out of the pair.

George Gillett is a known - but if Tom Hicks is *issed - everyone knows quickly.

As I said in a different thread, there has been a power struggle going on at Anfield - kinda like a triangle - Gillett & Hicks - Hicks & Benitez.

Things at the moment are strained, but at a stalemate.

But taking all the unrest out of the equation, it is known that the American pair are facing serious difficulty in re-financing there original loan.

Liverpool FC was paid for exclusively by The Royal Bank of Scotland.

Hicks & Gillett have not put 1 cent of there own money into the “Liverpool Project’.

Credit crunch - my *rse.

If they are businessmen worth there salts - they will have known problems were on the horizon.

The problem for the pair is they borrowed 220 million originally & in the following months that debt climbed to over 350 million.

Wigs within Anfield are aware, as it has been made known to certain individuals within the club –

D.I.C are ready to make a 500+ million pound hostile take over.

When I say hostile as I did so before on a different thread, it was picked up by someone.

Let me clarify what I meant.

D.I.C are not in an every day scenario now – they know that money is a big problem for the Americans & they will do exactly to the Americans as they did to D.I.C.

They know they only have to bide there time – which is soon to be here.

The Royal Bank of Scotland have told Hicks & Gillett – in order to get there loan re-financed, they have to put up a minimum of 20 million each, from there own personal fortunes.

Gillett is prepared as it seems he does have a love for the club (well more than just money) but Hicks is not willing to play ball.

Even if he does agree, Hicks is too shrewd not to know that this ‘Project’ is going to make massive inroads in to his own personal fortune – which he is not prepared to do.

Opinions shared within Liverpool, are that Hicks will agree to the re-financing terms, but if as expected D.I.C come in with a bid that see Hicks make a profit – however small – he will say thank you, then cut & run.

Gillett will be forced to take the same route if Hicks withdraws.

D.I.C are said to be offering the pair 50+ million each profit.

D.I.C have made it known to Hicks & Gillett, they are prepared to discuss takeover talks & the amounts involved & it’s just a matter of time before they take place.

The majority of the money men in the city share the opinion that Hicks & Gillett won’t even make the revised deal that’s on offer from The Royal Bank of Scotland & again D.I.C would jump in.

D.I.C have already held talks with The Royal Bank of Scotland & are understood to have come to an agreement on how the deal with the bank would go through, if the Americans fail to re-negotiate the current deal.

Sheikh Mohammed bin Rashid Al Maktoum has agreed that Sameer Al Ansari, a self confessed Liverpool fan can move when he feels the time is right.

The moves are ready to be played out & it looks very much like Liverpool FC is going to be owned by two owners within a very short space of time.

Ansari has made it clear D.I.C will invest massively in Liverpool, with the new stadium & new players being top priority.

These men are obscenely rich & have equally wealthy backers in all four corners of there world.

Sheikh Mohammed bin Rashid Al Maktoum is the current Prime Minister of the United Arab Emirates, whilst also being the ruler of Dubai & he along with his friends want to put Liverpool at the top of world football.

I know most Chairmen say the same thing when they arrive, but these guys are different.

Is it purely for footballing reasons?

Or is it maybe to do with things that go a lot deeper than football – like politics.

Who knows – but they are serious & will not stop until they get what they want this time.

One thing is for sure - Rick Parry will be a distant memory by the time D.I.C bring over there people to watch the first game as owners of Liverpool football club.

More on this to follow – be sure of that.


Quote:
Well word is things are moving fast within Liverpool.

I have been up in Liverpool today & got back just a little while ago.

Speaking to my friend who I met with for over 2 hours, he says that Hicks & Gilletts plans have been thrown in to chaos due to the Liverpool board.

The board object to plans the Americans have regarding the re-financing of the loan they took out to purchase Liverpool.

Hicks & Gillett want to put the loan - 100% against the clubs assets - which the board are saying cannot happen & WILL NOT happen.

Honorary Life Vice Presidents at the club, along with Mr Moores have demanded the pair keep to the promise both made when they arrived at Liverpool.

Im told legal advice has already been taken - incase events force the board to act.

However, it is said the bank will not agree to the terms Tom Hicks proposed regarding the refinancing of the debt & a large part of that decision is due to certain Liverpool people making strenuous objections to the Royal Bank of Scotland.

The Bank, want to pair to inject millions from there personal wealth - something that Tom Hicks will not let happen.

Whats STUNNING to hear, is some on the Liverpool board have been informed that moves are already 'well underway regarding the SALE OF Liverpool to Dubai International Capital.

He said that news suggesting the American pair appear to have decided to sell up is rife within Anfield.

The Dubai International Capital group are determinded to get Liverpool & my friend says its 'old news' that D.I.C have already started the process of due diligence.

He said, things have been underway for sometime.

He said things got serious after Hicks & Gillett met with D.I.C wigs last November.

As I said before they tried to sell 15% of Liverpool to the D.I.C group for £150 million.

It was flatly turned down - but D.I.C are said to have told the American pair during those talks that they would be returning in the New Year to 'Complete the takeover'.

D.I.C have confirmed they remain interested in acquiring Liverpool, but on the news coming out from Anfield tonight that Hicks & Gillett have already agreed the sale to Dubai International Capital a Spokesperson said:

"Im sorry, but we can only say 'No Comment' at this stage"

This is a story that is going to run & run, so there will be more on this to follow in the coming days, that is for sure.

I said last week that contrary to press reports discussions were ongoing with the 2 yanks and were live as we speak. I'm trying to find out more.

[Lecter]

Liverpool FC deal soon, amount may change -source
By Elena Moya
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. (Editing by Quentin Bryar)

For the past 2 months we have been seeing these comments

"Deal next week", "Deal end of the month", "deal soon"

Whether they get the loan or not I dont think they will be around much longer