Dubai International to make bid for Liverpool FC

[disco]

what i mean by the cheapest way is - - are you not better on joining the two loans into one big one, rather than have a big long term loan and a smaller short term loan???

Guess it depends on the interest rates etc.

[tomasjj]

The deal, which is expected to be announced on Friday, underlines the pair's determination to remain at Anfield despite interest from Dubai International Capital (DIC), the investment arm of the Dubai government.

Hicks will also feel he will be in a stronger position should he decide to sell in the future, dealing a blow to DIC's hopes of mounting a swift bid to take control of the club.

But Bose said: "I'm told by my sources in Dubai that DIC is still very keen and has been selling assets to make sure it has the necessary money.

"It was not keen on this re-financing because it feels it puts up the price of Liverpool. But DIC is still in the wings,and I wouldn't be surprised if something happens on that front, maybe not just now but in the next year or so."

Let's hope that last sentence is wrong.

[disco]

If there's no announcement/press conference today, then surely something is still going on?!

[el matador]

The deal, which is expected to be announced on Friday, underlines the pair's determination to remain at Anfield despite interest from Dubai International Capital (DIC), the investment arm of the Dubai government.

Hicks will also feel he will be in a stronger position should he decide to sell in the future, dealing a blow to DIC's hopes of mounting a swift bid to take control of the club.

But Bose said: "I'm told by my sources in Dubai that DIC is still very keen and has been selling assets to make sure it has the necessary money.

"It was not keen on this re-financing because it feels it puts up the price of Liverpool. But DIC is still in the wings,and I wouldn't be surprised if something happens on that front, maybe not just now but in the next year or so."

DIC want us and Hicks and Gillett will sell for the right price - get set for some real negotiations over the next few weeks. This statement is designed to tell the americans that DIC will wait to get liverpool if necessary and wont be pressurised into paying over the odds.

Sooner or later the americans will sell - DIC might drag it out because they want them in a tighter corner than they are now. Its not great for the fans but in business terms it makes sense - let the current owners **** things up and then come along and buy the club for peanuts later.

[AFII]

Isn't Mr Bose very close to Gillett?

If that is the case then it looks like Gillett want out and he want DIC and Hicks to make an offer for his shares.

"I'm told by my sources in Dubai that DIC is still very keen and has been selling assets to make sure it has the necessary money.

It is like saying to Hicks, DIC is preparing a big bid, now if you want my shares then you will have to make a better bid.

[el matador]

Isn't Mr Bose very close to Gillett?

If that is the case then it looks like Gillett want out and he want DIC and Hicks to make an offer for his shares.



It is like saying to Hicks, DIC is preparing a big bid, now if you want my shares then you will have to make a better bid.

Its the other way round - Bose is close to DIC

[AFII]

Its the other way round - Bose is close to DIC

Well, then he should know what he is talking about regarding DIC selling some assets.

[homer1]

Well, then he should know what he is talking about regarding DIC selling some assets.

Then again if DIC are as rich as people are making them out to be why would they have to sell asstes to get the money up for buying Liverpool ???

[carlton]

Is this Anfield?
Jan 25 2008


By Tony Barrett, Liverpool Echo




TOM Hicks today released an image of Liverpool's planned new stadium as fans awaited the details of the promised refinancing deal.

A design submitted by architects HKS has been selected after the Dallas-based firm revised their initial design which was scrapped because of spiralling costs last month.

HKS met a request by Liverpool's owners to make the design more cost-effective, and in doing so beat off competition from Manchester architects AFL to win the contract.

But while the designs for Liverpool's new home are now in place, the fans are still awaiting details of how it will be paid for.


Story continues
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The refinancing package which the Hicks camp had indicated would be completed by yesterday had still not been concluded by the time the ECHO went to print today.

It is being stressed that the hold- up is an administrative one with lawyers having to plough through the necessary paperwork of such a major deal, and the ECHO understands Hicks is totally confident that it will now go through without a hitch.

But sources close to the proposed deal have suggested that George Gillett's necessary financial contribution to the deal is still to be received by the Royal Bank of Scotland and American investment back Wachovia who have come up with the proposed £350m loan.

That loan would allow Hicks and Gillett to totally refinance their takeover of the club and allow work to start on the new 71,000-seat stadium.

But whether today's news is enough to placate the fans is another matter entirely.

John Mackin of supporters group Reclaim The Kop said: "Unless the owners come out and say they are giving Rafa Benitez a new deal, they are going to support him extensively in the transfer market, and that none of the money to fund that will put the club in debt, they have got no chance of winning us over.

"Such is the level of disquiet among the fans that a meeting is to be held next week when we will discuss the next phase in our ongoing protests against the owners.

"We have seen pretty pictures of stadium designs before and we're still waiting for a single spade to go into the ground at Stanley Park, something Hicks and Gillett promised would happen within 60 days of takeover, so it'll take a lot more than a new picture and a major PR offensive for us to be won over."

Despite being aware of the ongoing fans’ rebellion, Hicks is hoping the release of the new stadium plans will at least begin a process which will result in them being placated.

He said: "HKS has developed a more efficient design that, at the same time, is just as stunning as its original design.

"Liverpool supporters should have high expectations for the future: a premier sporting experience at their new stadium at Stanley Park and a winning club on the pitch for years to come".

Interestingly, George Gillett's name is conspicuous only by its absence on the press release which was issued to the ECHO by London PR firm Financial Dynamics today.

The new design incorporates the 18,500 capacity stand-alone Kop which Hicks had insisted was crucial to his plans, and KUD International has been selected as project manager for the stadium.

Laing O'Rourke, which is currently working with developer Grosvenor on The Paradise Project in Liverpool, has also joined the project development team.

Despite speculation that today's developments might signal the end of Dubai International's pursuit of Liverpool Football Club, the ECHO believes the opposite is true and that DIC has not given up hope of buying the club.

Hicks had been hopeful that he would be in a position to come up with a double whammy of a new stadium design and a completed financial package with details of both to be released at exactly the same time.

The loan on the table from RBS and Wachovia will enable Hicks and Gillett to repay the £298m they have borrowed over the past 12 months to buy the club, absorb existing debts of £44.8m, sign players and finance work on the new stadium.

The additional funds will repay interest and enable work on the stadium project to start.

Of the £350m refinancing package £105m will be saddled on Liverpool, with £185m secured on Hicks and Gillett's holding company Kop Investment.

The Americans are believed to have increased their personal guarantees from £30m each to about £55m.

In another sweetener, Rafa Benitez has been informed by Hicks that he intends to tie up the proposed £17m transfer of fans’ favourite Javier Mascherano at the earliest possible opportunity.

Timeline:

June 2000: Liverpool FC announces its ambition of developing a new Anfield 60,000-seat stadium in neighbouring Stanley Park.

March 7, 2001: Liverpool reveals it is considering abandoning its Stanley Park plans for a 75,000-seat ground in Speke, over fears of a long planning inquiry.

May 17, 2002: The move to Stanley Park is back on as the ECHO reveals plans and images of Liverpool’s proposed new £70m 55,000-seater Stanley Park stadium.

Nov 23, 2006: Northwest Development Agency refuses to hand over £9m funding over fears that there was no "clear evidence of the club's ability to commence with the stadium project".

March 15, 2007: Fears of a delay to the new ground over plans to increase capacity to 70,000 which could result in a planning inquiry.

Sept 20, 2007: The final slice of public funding for the new Stanley Park ground was agreed when the board of the Northwest Regional Development Agency voted an award of £9.3m to add to the £9m already given from the European Objective 1 fund.

Dec 18, 2007: Liverpool owners Hicks and Gillett call for architects to revise plans for the stadium after costs soared beyond £400m.

Jan 25, 2008: Tom Hicks reveals new 71,000-seat stadium plans by architects HKS due to open in August 2011.

[AFII]

Then again if DIC are as rich as people are making them out to be why would they have to sell asstes to get the money up for buying Liverpool ???

DIC themselves don't have that much cash to operate with. It's the Sheikh that is the cash man behind DIC. That points to that it's DIC that want to invest in us and not the Sheikh.

They need cash to buy the club.

I think I got that right.

[tomasjj]

Here is a key issue:


The refinancing package which the Hicks camp had indicated would be completed by yesterday had still not been concluded by the time the ECHO went to print today.

It is being stressed that the hold- up is an administrative one with lawyers having to plough through the necessary paperwork of such a major deal, and the ECHO understands Hicks is totally confident that it will now go through without a hitch.

But sources close to the proposed deal have suggested that George Gillett's necessary financial contribution to the deal is still to be received by the Royal Bank of Scotland and American investment back Wachovia who have come up with the proposed £350m loan.

Still not completed....

[disco]

Again that article is suggesting 40m towards new players. WIth player sales that is an enormous amount of money....

[homer1]

DIC themselves don't have that much cash to operate with. It's the Sheikh that is the cash man behind DIC. That points to that it's DIC that want to invest in us and not the Sheikh.

They need cash to buy the club.

I think I got that right.

I bow to your superior knewledge

By that reckoning though if they have to sell to buy the club it would beg the question whether they had the kind of money available to take us to the next level which I thought was a foregone conclusion according to reports

[carlton]

Again that article is suggesting 40m towards new players. WIth player sales that is an enormous amount of money....

Could possible provide Rafa with the funds to buy the 2-3 $20 million+ quality players we desperately need

[bobbyfallon]

Again that article is suggesting 40m towards new players. WIth player sales that is an enormous amount of money....

it that not the torres and babel and skytle money and we have already spent it??