Stadium canned?

[Fagan]

Liverpool's plans for a new ground hit a snag
By Sportsmail Reporter Last updated at 12:07 AM on 29th August 2008


Liverpool have hit a new snag over their plans for a new stadium and face a further delay in completing the £350million project.

Though preparations are under way at the Stanley Park site, adjacent to Liverpool's Anfield ground, co-owners Tom Hicks and George Gillett have been forced to accept that the necessary finance may not be in place for the next phase to be launched on time. Another substantial payment is needed in the next few weeks for foundation work to begin as scheduled next month

[kingfunk]

DIC won't buy us....

If they wanted to they would have already.

They do Want to buy us. Its not just as easy as going in for a pint of milk.

[Darkon]

Not again

It is really a shame the stadium isen't getting build, as it will put us years back financially untill it is sorted. The only extra revenue option now is charging more for the "few" seats at anfield...

More of a shame is it that instead of looking for an investment for so many years, Moores could have borrowed the money and build it, and then selling the whole thing. The market would have been better as well, and the cost lower...

Only positive thing that could come out of this is if the two clowns ends up selling. But that won't hinder us from loosing out for a long time still.

[Resu]

DIC won't buy us....

If they wanted to they would have already.

If the new owners comes from Dubai it will probably be the sheik himself. I have a feeling this has become a case of prestige for him, and he doesn`t look like a guy who takes defeat ligthly.

[Icon]

They do Want to buy us. Its not just as easy as going in for a pint of milk.

Well I'm not so sure...

Sorry.

[James P]

The one "good point" to the stadium being cancelled is that it would seem the profitability and viability of their investment and refinancing plans hinge on the extra income from a larger stadium.

Thus cancelling the stadium may be the first and most important step in their departure.

if it is true of course

Spot on. Their entire plan hinges on two key elements: building the new stadium, as once it is complete it will theoretically be worth far in excess of the construction costs, and therefore greatly increase the value of the club; and generating much greater revenue, again to enhance the value of the club. If the stadium is canned then the former is obviously out of the window, and the latter becomes almost impossible, as the extra revenue will have primarily been based on increased gate receipts.

All of which means that their plan to take on huge debt, but make the club's value increase to the magic £1bn that has been mooted many times, has fallen on its face. If they can't raise the cash, they might as well sell now, as they can't increase the value of the club much beyond its current level (and scares like Wednesday night might convince them that the value could well drop if they try to cling on).

DIC won't buy us....

If they wanted to they would have already.

That makes no sense. You can only buy something if the owner wants to sell it to you. They wanted the club but Parry and Moores decided to sell to H&G. They tried to buy it again but H&G wanted too much money.

You need to bear in mind that, just because they have huge amounts of cash behind them, it doesn't make them stupid, and they're not going to pay well over the odds for something when biding their time could well see them get it for a far more realistic price (which is looking increasingly likely).

A simple rule exists: the reason that most wealthy people remain wealthy is because they are extremely careful about when and how they invest their money. Over the years I have had a number of clients who are high net worth individuals (HNWIs, as they are known) and with few exceptions they are generally more cautious with their money than those of us who have a damn sight less!

[RoadEnd]

http://www.liverpoolfc.tv/news/drilldown/N161087080829-0923.htm

Now confirmed on the lfc.tv

[Guest]

http://www.liverpoolfc.tv/news/drill...80829-0923.htm

Now confirmed on the lfc.tv

It will never be built with these clowns in power. Now is the time to drive them out of the club I think. The supporters need to get in. It's atrocious and a complete cock up.

I've given them time to sort things out, but I don't think they will. Why won't Hicks put us out of our misery ??? It's time for him to go, we can't progress like that.

[el matador]

what an absolute joke.

there wasnt a tits in hells chance of this stadium being built and deep down everybody had the same feeling. This has to be the last straw for the hicks and gillett partnership because i cant see how they can bury their heads in the sand and 'let things smooth over' with this one.

Its over.

[MindGuerrillas]

What happens to (where has it gone) the £60m they borrowed to start work on this now? Has this just disappeared into their pockets too?

[sinbad]

REDS CONFIRM NEW LFC STADIUM DELAY
Liverpoolfc.tv 29 August 2008

Liverpool Football Club have today confirmed that the building of their new stadium will be subject to delay. A spokesman for the club said: "Our commitment to building a new world class LFC stadium is undiminished. Like many other major development projects in the UK and overseas we are affected by global market conditions and as such work on the project will be delayed in the short term. We will use this period productively and revisit the plans for the stadium to increase its capacity to 73,000 seats."

http://www.liverpoolfc.tv/news/drilldown/N161087080829-0923.htm

[Guest]

So we're applying again (in the meantime), this time for a 73,000 all seater capacity.

Look out for the council to refuse it and hand it to Everton.

[Kev_81]

What happens to (where has it gone) the £60m they borrowed to start work on this now? Has this just disappeared into their pockets too?

According to those in the know it can only be used for the stadium, that is in the terms of the loan.

[Pablo]

Proof if any were ever needed that we are absolutely skint.

I agree its time for another push to get these two idiots out of our club. Even if its affects performances on the pitch, as it undoubtedly did last season, its for the long term good of the club.

[sinbad]

73k........the ****ers must think we're thick braindead sheep to fall for that one.