DIC latest - the largely wild speculation thread

[Skillz]

Yeah, Hicks looks great after the last week

Hicks' behaviour over the past few months leads me to think he's not a man that really gives a **** about saving face.

Fans of his teams in Amercia hate him too - he couldnt care less.

Not trying to make any definitive statement here fella's. IMO if the deal goes through TH will look as though he got a good deal and DIC paid the minimum acceptable so both parties retain as much business cred as possible.

EDIT for example ATM they are offered a 25M GBP profit each. If, for example, DIC pay them 40M GBP each, after much haggling DIC will be forgiven for paying over the odds, Hicks will have gotten a great deal and we will end up where others (Elisha Scott) said a week or two ago we would be. Everyone's happy.

Just thinking out loud.

[Leyton388]

The fact that DIC have placed a 400 million pound bid in means that they have already done DD? Whcih means H&G have give them access to the books

[MattB]

The fact that DIC have placed a 400 million pound bid in means that they have already done DD? Whcih means H&G have give them access to the books

Doubt it. It will be a conditional offer. The condition being access to the books and a satisfactory outcome of that review

[Gazmo1]

It is likely that DIC have a letter of intent the buy or invest for a given figure subject to DD.

[Chrono]

The fact that DIC have placed a 400 million pound bid in means that they have already done DD? Whcih means H&G have give them access to the books

Exactly! Who ever makes a bid for something before checking the books.

[BFG]

The bid will be 'subject to due dilligence.'

[Lecter]

i asked when they were starting work on the stadium.

In an email to someone on another forum last week he stated that work would begin in September with planning approval granted in April

FLMAO, considering the last judicial review took 6 weeks or so he'd better get approval shortly

These emails arent off Hicks they are from his PR company written by countless different people

[Lecter]

had they gone through due diligence last year????

if so not much can have changed really

Only the details of a £350 million debt, plus new sponsorship deal, new player contracts etc..

I think DD will take 2-6 weeks personally, with 2 weeks being extremely optimistic

[Kenneth]

The bid will be 'subject to due dilligence.'

If they have already had talks with Hicks about buying a minor stake (which I think is now the official position), then DD would probably have already happened as part of that discussion.

[certifiable]

Dubai denies putting timeline on Liverpool FC bid

All this is doing my head in! Too much conflicting stories, deadlines/no deadlines!
Just want a conclusion. And one that means ****ing Hicks buggering off.



http://www.liverpooldailypost.co.uk/...4375-20555946/
Dubai denies putting timeline on Liverpool FC bid

Mar 4 2008
Anfield montage

Sheikh Mohammed Al Maktoum/Tom Hicks/Anfield montage _320

Dubai International Capital today denied a “timeline” has been put on any offer for Liverpool.

The company’s spokesperson Jehad Saleh refused to comment on reports DIC this morning tabled a £400million bid for the club.

However, Saleh insisted reports DIC had given Liverpool co-owners George Gillett and Tom Hicks a deadline of midnight tonight to accept an offer were not correct.

She said: “No figures have been (publicly) mentioned, and talks are ongoing. No timeline has been set on the talks.”

DIC chief executive Sameer al-Ansari, a lifelong Liverpool fan, this morning confirmed he is in talks with Gillett and Tom Hicks.

Saleh refused to confirm that Al-Ansari is currently speaking to both Gillett and Hicks, but revealed he was in Dubai.

Reports on Merseyside claimed the deadline had been imposed on Hicks and Gillett to accept the bid.

The offer would give the American businessmen a profit of £25million each on their investment in the club.

The reported bid follows confirmation from DIC, the investment arm of the Maktoum royal family, that talks had taken place between the various parties but were being held up by the valuation of the club by one of Hicks or Gillett.

“It’s no secret that we have been in discussions with the current owners,” said Al-Ansari on www.skysports.com.

“It’s not easy because the owners are in dreamland about valuations at the moment.”

Al-Ansari later clarified that one of the club’s owners “had come out of dreamland”, without giving further details.

Other reports today indicate Hicks, who has insisted he is opposed to a sale, has been trying to raise the capital necessary to buy out his partner.

But Hicks has described such speculation as “premature”.

The US tycoons are believed to have suffered a breakdown in their relationship since taking over Liverpool last year.

Today’s offer was reportedly made to the pair by Amanda Staveley, a senior partner of London-based investment firm PCP and who represents DIC.

Only last week, Texan billionaire Hicks denied reports he had invited DIC to inspect the club’s accounts in preparation for a takeover.

Frustrated by Hicks’ stance, DIC turned their attention to Gillett, who is thought to be much keener on a sale.

However, neither of the co-owners is able to cut and run without the other’s consent, a point Hicks was at pains to make last week when he told the Fort Worth Star-Telegram: “Not only am I not going to sell, my partner cannot sell without my approval.”

Also, DIC are thought to want a controlling stake at Anfield, meaning they would need to convince Hicks to relinquish part of his 50% of the club as well as buying out Gillett.

It appears clear the main problem preventing a takeover is the price DIC are willing to pay.

It has been nowhere near the amount of money Hicks has been asking for - he would want to make a substantial sum out of selling the club.

Another hurdle to overcome is that the refinancing package announced on January 25 has loaded £105million of debt on to the club.

Of that, £60million is earmarked to kick-start the new stadium development plus £45million for future player transfers and to meet the club’s working capital needs.

The takeover talk is being driven by the refinancing deal, believed to only last for 18 months, and so Hicks and Gillett are soon going to have to start renegotiating the debts.

Furthermore, they are shortly going to have to go back to the banks to ask for a further £300million in loans to finance the rest of the new stadium at Stanley Park.

[kopdan]

Hicks will stay

[BFG]

If they have already had talks with Hicks about buying a minor stake (which I think is now the official position), then DD would probably have already happened as part of that discussion.

Could have mate.

But they did see the books last year and could have had verbal confirmation from Hicks regarding any big changes. If he was quoting 'dreamland' figures from the off why bother doing DD until they were on some sort of common ground?

[Skullflower]

In an email to someone on another forum last week he stated that work would begin in September with planning approval granted in April

FLMAO, consideinr the last judicial review took 6 weeks or so he'd better get approval shortly

These emails arent off Hicks they are from his PR company written by countless different people

lol

[Lecter]

From the Globe and Mail (Canadian).

Checkout the last sentence.


Dubai consortium makes bid for Liverpool

Associated Press

March 4, 2008 at 8:12 AM EST

LIVERPOOL, England — Dubai International Capital made an $800 million bid for Liverpool on Tuesday — and gave the club's embattled American owners a 24-hour deadline.

An executive working on the bid told The Associated Press that DIC — the private-equity investment arm of the Dubai government — wants an answer within 24 hours from Tom Hicks and George Gillett Jr. He spoke on condition of anonymity because of the sensitivity of the negotiations.

The bid was made a day after DIC chief executive Sameer al-Ansari said Hicks and Gillett had "come out of dreamland" over their valuations of the Premier League club.

Hicks has repeatedly vowed to retain his 50 percent stake in Liverpool, and a person familiar with the Texan's plans last week told the AP that he is looking into to buying out all or part of Gillett's equal stake.

But Gillett, whose relationship with Hicks has reportedly broken down, has been in close contact with DIC in recent weeks after deciding to end his troubled spell at Anfield.

Hicks and Gillett bought Liverpool for $431 million in March 2007. This included an agreement to pay off about $89 million of debt and a pledge to build and finance a new stadium.

Gillett and Hicks refinanced their Liverpool deal with a $682 million package from two banks on Jan. 25.

But the package left the 18-time English champion with debt of $205 million. Liverpool's debts would be wiped out if the Dubai bid was successful, the executive said.

http://www.globesports.com/servlet/story/RTGAM.20080304.wsptliver4/GSStory/GlobeSportsSoccer/home

[BFG]

Anyone know what the sterling/ dollar excahange rate is now? If the dollar is still very weak then £25mil equates to a lot more if used over there.