DIC latest - the largely wild speculation thread

[Sarb]

http://blogs.independent.co.uk/extra...-own-word.html

Football: Economics not emotion on Merseyside
By Ian Herbert

Here it is then – George Gillett, in his own words, on why it’s so difficult to own half of Liverpool FC.

Gillett’s been keeping his head down so much that rumours doing the rounds last week had it that his inclination to offload his 50% share at Anfield might have something to do with him having pneumonia.

Amanda Staveley corrected that impression late on Friday night “I’ve just been speaking to him – he was on the golf course,” she said – and though getting him to talk about Liverpool at the IMG World Congress of Sports event at Dana Point, California, was evidently like getting blood out of stone, the essential point became clear. Liverpool is about economics more than emotion and the weakness of the dollar means his investment is just not paying for him. “It’s made it more difficult in terms of investing in those businesses because the dollar is really tremendously weak compared to where we started,” he said.

Listen (on the last of the clips) to Gillett talking about his other franchises though – the Montreal Candians ice hockey team and the Gillett Evernham Motorsports NASCAR racing team – and you really do get the unmistakable impression that ‘soccer’ just isn’t the labour of love for him that the other two franchises are.

There’s the against-all-odds ice hockey success (‘we’ve gone with kids and built with them’) and the sheer numbers (75-80m) turning out for NASCAR. That’s the kind of enthusiasm you need when the financial markets are crippling you.

What applies to Gillett does so for Hicks, too, of course. Does he really have minority shareholders interested to help him with the steepling increase in steel costs for the new stadium, as he says he does. Many Liverpool fans remain unconvinced. No wonder the noises emanating from DIC still point to a reopening of talks on a 49% takeover for them.

Surprised no-one has picked up on this. Very interesting news. Things may not be so bad after all

[El Jefecito]

Surprised no-one has picked up on this. Very interesting news. Things may not be so bad after all

Dialog w/Gillett is far less interesting than the same w/Hicks. As we've seen Hicks holds all the cards.

[Slinky Skills]

I was watching BBC 24 news in work today and there was something on there about a major bank in the US having to borrow from the Federal Reserve due to the credit crash on the US.

I recall JP Morgan being mentioned too, aren't they the bank that has supported G&H with their refinancing, and aren't they the ones who they'll be looking to refinance the stadium whenever that may be?

[El Jefecito]

I was watching BBC 24 news in work today and there was something on there about a major bank in the US having to borrow from the Federal Reserve due to the credit crash on the US.

I recall JP Morgan being mentioned too, aren't they the bank that has supported G&H with their refinancing, and aren't they the ones who they'll be looking to refinance the stadium whenever that may be?

No, the financing comes from the Royal Bank of Scotland and Wachovia!

[Slinky Skills]

No, the financing comes from the Royal Bank of Scotland and Wachovia!

Ah right, cool no worries. Must have got mixed up somewhere!

[dawmdt]

I was watching BBC 24 news in work today and there was something on there about a major bank in the US having to borrow from the Federal Reserve due to the credit crash on the US.

I recall JP Morgan being mentioned too, aren't they the bank that has supported G&H with their refinancing, and aren't they the ones who they'll be looking to refinance the stadium whenever that may be?

It was Bear Stearns... they've done a "Northern Rock" by going to the emergency market and borrowing. It's done a little differently in the US as it's not directly borrowed from their Bank of England equivalent (Federal Reserve). Instead it's borrowed from another bank (in this case JP Morgan) and the Federal Reserve underwrite the whole loan.

JP Morgan's involvement with G&H as far as I've been able to tell is as advisor\lead arranger on Hick's placement in the market of his whole sporting group (and nought to do with Gillett).

[El Jefecito]

Ah right, cool no worries. Must have got mixed up somewhere!

You are not far off of the truth though as I posted earlier most US banks are being bailed out by the sovereign funds from the midle east / china. From the big picture perspective the east holds the balance of power. Hence why DIC are so attractive, they can pump in cash, Hicks can only pump in debt. Both can work, but one is better than the other. Guess which?

[Dhav]

he wasnt too pissed off when he bought his new ferrari from the £500,000 thank you from hicks and gillet, cunt

I read somewhere that Parry made £2.5m in all from the takeover

[wishiwasascouser]

More news regarding the takeover and DIC, if nothing else it is reassuring to know that DIC are still about!

Mellor dips a toe in DIC's Liverpool bid

Former Tory Cabinet minister David Mellor has emerged as one of the consultants in the stalled bid by Dubai International Capital to buy a controlling stake in Liverpool.

The controversial Mellor has been one of the advisors to Amanda Staveley's PCP Capital Partners, who have been handling the tortuous takeover negotiations for DIC with American owners Tom Hicks and George Gillett.

Mellor, a business friend of Staveley's for a number of years, has his own connections with Dubai through investment fund Three Delta, where he is a business development director. He shuttles between London and the Middle East on a regular basis and was in Dubai 10 days ago.

However, Mellor's involvement in the Liverpool bid, however small a part he is playing behind the scenes, is unlikely to go down well at Anfield.

A Fulham fan before changing allegiance to Chelsea, Mellor became a disliked personality in football during his time as host of Five Live's 606 phone-in show where his trenchant opinions often riled supporters. And he achieved little as chairman of the Football Task Force.

DIC will not go away despite Hicks using his blocking rights to veto their proposed deal for Gillett to sell them a 49 per cent stake.

http://www.dailymail.co.uk/pages/live/articles/columnists/columnists.html?in_article_id=534271&in_page_id=1951&in_author_id=345

[Sarb]

Glad DIC are still around. But Mellor..FFS

[wishiwasascouser]

Glad DIC are still around. But Mellor..FFS

I wouldn't care if they got Donald Duck involved, so long as the deal gets done!

[Skillz]

he wasnt too pissed off when he bought his new ferrari from the £500,000 thank you from hicks and gillet, cunt

I don't want to sound like a Parry apologist but surely the bonus was for completing a takeover. This bonus would of been prearranged with Moore's as he would of had to do a hell of a lot of extra work over and above his normal duties.

Now we can argue whether he actually did a good job or not but he did the work and for me the bonus is perfectly understandable.

[red g]

I don't want to sound like a Parry apologist but surely the bonus was for completing a takeover. This bonus would of been prearranged with Moore's as he would of had to do a hell of a lot of extra work over and above his normal duties.Now we can argue whether he actually did a good job or not but he did the work and for me the bonus is perfectly understandable.

and he still ****ed it up!!

[kop-al-74]

[QUOTE=Skillz;990170]I don't want to sound like a Parry apologist but surely the bonus was for completing a takeover. This bonus would of been prearranged with Moore's as he would of had to do a hell of a lot of extra work over and above his normal duties.

Now we can argue whether he actually did a good job or not but he did the work and for me the bonus is perfectly understandable


Hope your wearing a hard hat!

[Skillz]

and he still ****ed it up!!

Hope your wearing a hard hat!

No doubt he ****ed it up, but I stand by the fact the bonus is not a surprise, infact it is perfectly understandable.