Liverpool FC owners lose £42.6m

[Shanks]

Worth a look..



http://www.spiritofshankly.com/news/...financing.html


DIRECT ACTION NOW!!

HICKS AND GILLETT OUT NOW!!

NO TO REFINANCE!!


Spirit of Shankly today launches direct action against Royal Bank of Scotland and seeks the support of all members and fans in a campaign to force RBS to refuse to refinance the loans taken out by our current owners.

We have all seen yesterday's news, which while making us all angry, is not all that surprising.

We have said time and time again, that the level of debt is unsustainable, and lo and behold, the Club’s auditors have said:

These conditions, along with other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt on the Group's and parent company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group and parent company were unable to continue as a going concern.


Tom Hicks and George Gillett are not 'fit and proper' owners of our club. They never have been and never will be. The problem we face is that RBS deem them to be. RBS need to be made aware, again, that we don't want Hicks and Gillett anymore, and we don't want RBS to re-finance the loans and increasing our Club’s debt. The time for action is NOW.

We are asking all fans to write to RBS making clear our opposition to the refinancing and demanding information from RBS as to their current and future intentions relating to their support of the current owners.

Your letter needs to be posted to:

Richard Holliday
Royal Bank of Scotland
135 Bishopsgate
London
EC2M 3UR

Or an email sent to him at: [email protected]

We are asking for you to do both – we expect the volume of email traffic will be such that RBS will take immediate action to block and filter so please post a letter and be imaginative but polite with the subject heading of any email – “LFC” or “Liverpool” are quite likely to be filtered out pretty quickly.

We are also asking all members and fans to write to their own Members of Parliament drawing their attention to the fact that as tax payers we are effective majority shareholders within RBS and as such demand that our voices are heard and that our wishes are heeded and acted upon.

Not only are we as supporters of LFC paying the loan repayments for Hicks and Gillett, but as taxpayers who have a controlling stake in RBS, we are paying for the loans that have placed the Club’s existence in jeopardy. Encourage them to raise the issue in Parliament. It's our money and we don't want it going to them.

[red g]

The fact is that Moores spent almost 5 years looking for the right people to take over the club and when the right people came along he ****ed them around and sold the club to two people who are poorer than him.

David Moores could of and should have had the balls to take out a loan against LFC to build a new stadium which at the time would of cost about £100m but he bottled it and his actions over the past 15 years has seen this club go from the top of english football to almost bankruptcy.

I will never forgive or forget what his effect on the club has been and IMO he needs to be targeted just as much as the other two as he is the main reason they are here. He had the chance to sell to DIC who would have had a sound business plan to run this club and we certainly would not be in almost £400m of debt.

summed up how i feel perfectly

Now people might say stop panicking but the fact is we are in deep trouble as a loss of £40m is not small change to any company never mind a football club.

David Moores has ruined this club from the day he took over IMO and as far as i can see it is mission accomplished.

We now have the like of manchester city who can outbid us for players and pompey have just got a new rich owner.

It seems that when it comes to business all other clubs can get it right yet LFC manage to **** it up time and time again. What a turn around from the best run club in the country to almost financial ruin.

Gutted

[Leyton388]

I've just emailed this to Holliday. Nothing much but it sums up my feelings.

Dear Mr. Holliday

I am writing to you with regards to your companies continued support of MR Tom Hicks and George Gillett JR with regards to the refinance package for Liverpool football club.

When Mr Hicks and Gillett took over liverpool FC they gained control on a promise that there would be no debt placed upon the club and now 2 years after they took control the club now finds itself in over £300m worth of debt owed to your bank. They also took over the club on another promise that a new ground would be built and we are yet to see any type of work being started in Stanley park.

Fridays announcement proved yet again that these two businessmen are not fit to run a football club and have placed a debt on the club that cannot be serviced and which raises serious doubts over the future of the club and everyone connected to it.

By granting these two businessmen their refinance package your company will be making the situation worse and in the long run only hurt liverpool football club and their employee's. I urge your company to reconsider and not grant the finance package, which will see the club saddled with more debt, and have more uncertainty hanging over it. This is your chance to get back control of Liverpool FC and put it back into capable hands that will seethe club being run the way it should be.

RBS and liverpool have a long history of business together so i hope you would take this into consideration when you see the damage mr hicks and Gillett have done to Liverpool football club and trust you to make the right decision.

It is well documented that the fans of the club do not wish the current regime to stay in power, which is why i as a fan ask you not to grant the package to Mr hicks and Gillett.

[Vermilion]

Nice one above..▲ will do the same now.

Thing is, as a bank, RBS would be stupid not to extend to H&G, because they are getting a superb deal out of this, 36mill a year is good business for them, and that's why i feel whatever happens, H&G will indeed get their extension, ******s.

The upshot of this is that we trundle along with not enough cash to compete, with this saga hanging over the club bringing bad publicity, adding doubts to the minds of players we may want to sign, etc etc, it'll just go on and on.

Done & sent mine, under the heading 'My Hopes', so as not to be filtered out.(not that they'll take a blind bit of notice, but made me feel better.)

Dear sir,

I write to you to request that you refuse Gillette & Tom Hicks their re-finance, it is with a heavy heart that i write this, due to the untold damage being done by these so called custodians of Liverpool Football club.

From day one they have fed the fans a chain of lies & broken promises, they are NOT regarded as proper owners for this club and only gained control thanks to the deceit they engaged in.

This club is to good an institution to be left to wander aimlessly into crisis and mediocrity, which is what i believe will happen should you grant them what they wish.

They have been an unmitigated disaster, and but for the management of Rafael Benitez we would be in a far worse state than we are at present.

So, i ask that you deny them re-finance and give Liverpool Fc it's soul back, find a fit & proper owner and for ever be in the debt of true Liverpool fans.

Yours Sincerely..

[Leyton388]

Thing is, as a bank, RBS would be stupid not to extend to H&G, because they are getting a superb deal out of this, 36mill a year is good business for them, and that's why i feel whatever happens, H&G will indeed get their extension, ******s.

The upshot of this is that we trundle along with not enough cash to compete, with this saga hanging over the club bringing bad publicity, adding doubts to the minds of players we may want to sign, etc etc, it'll just go on and on.

I agree all we can do is email them and let them know how we feel.

[andrewces38]

Worth a look..



http://www.spiritofshankly.com/news/...financing.html


DIRECT ACTION NOW!!

HICKS AND GILLETT OUT NOW!!

NO TO REFINANCE!!


Spirit of Shankly today launches direct action against Royal Bank of Scotland and seeks the support of all members and fans in a campaign to force RBS to refuse to refinance the loans taken out by our current owners.

We have all seen yesterday's news, which while making us all angry, is not all that surprising.

We have said time and time again, that the level of debt is unsustainable, and lo and behold, the Club’s auditors have said:

These conditions, along with other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt on the Group's and parent company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group and parent company were unable to continue as a going concern.


Tom Hicks and George Gillett are not 'fit and proper' owners of our club. They never have been and never will be. The problem we face is that RBS deem them to be. RBS need to be made aware, again, that we don't want Hicks and Gillett anymore, and we don't want RBS to re-finance the loans and increasing our Club’s debt. The time for action is NOW.

We are asking all fans to write to RBS making clear our opposition to the refinancing and demanding information from RBS as to their current and future intentions relating to their support of the current owners.

Your letter needs to be posted to:

Richard Holliday
Royal Bank of Scotland
135 Bishopsgate
London
EC2M 3UR

Or an email sent to him at: [email protected]

We are asking for you to do both – we expect the volume of email traffic will be such that RBS will take immediate action to block and filter so please post a letter and be imaginative but polite with the subject heading of any email – “LFC” or “Liverpool” are quite likely to be filtered out pretty quickly.

We are also asking all members and fans to write to their own Members of Parliament drawing their attention to the fact that as tax payers we are effective majority shareholders within RBS and as such demand that our voices are heard and that our wishes are heeded and acted upon.

Not only are we as supporters of LFC paying the loan repayments for Hicks and Gillett, but as taxpayers who have a controlling stake in RBS, we are paying for the loans that have placed the Club’s existence in jeopardy. Encourage them to raise the issue in Parliament. It's our money and we don't want it going to them.

I know action is needed but do poeple think that a Bank that is making £36 million a year of us will actually listen to Joe public?, I dont think so .Sadly though , we really need to be sold ASAP

[Vermilion]

I agree all we can do is email them and let them know how we feel.

Agreed, and done.

[dom9]

I've just emailed this to Holliday. Nothing much but it sums up my feelings.

Dear Mr. Holliday

I am writing to you with regards to your companies continued support of MR Tom Hicks and George Gillett JR with regards to the refinance package for Liverpool football club.

When Mr Hicks and Gillett took over liverpool FC they gained control on a promise that there would be no debt placed upon the club and now 2 years after they took control the club now finds itself in over £300m worth of debt owed to your bank. They also took over the club on another promise that a new ground would be built and we are yet to see any type of work being started in Stanley park.

Fridays announcement proved yet again that these two businessmen are not fit to run a football club and have placed a debt on the club that cannot be serviced and which raises serious doubts over the future of the club and everyone connected to it.

By granting these two businessmen their refinance package your company will be making the situation worse and in the long run only hurt liverpool football club and their employee's. I urge your company to reconsider and not grant the finance package, which will see the club saddled with more debt, and have more uncertainty hanging over it. This is your chance to get back control of Liverpool FC and put it back into capable hands that will seethe club being run the way it should be.

RBS and liverpool have a long history of business together so i hope you would take this into consideration when you see the damage mr hicks and Gillett have done to Liverpool football club and trust you to make the right decision.

It is well documented that the fans of the club do not wish the current regime to stay in power, which is why i as a fan ask you not to grant the package to Mr hicks and Gillett.

Nice one above..▲ will do the same now.

Thing is, as a bank, RBS would be stupid not to extend to H&G, because they are getting a superb deal out of this, 36mill a year is good business for them, and that's why i feel whatever happens, H&G will indeed get their extension, ******s.

The upshot of this is that we trundle along with not enough cash to compete, with this saga hanging over the club bringing bad publicity, adding doubts to the minds of players we may want to sign, etc etc, it'll just go on and on.

Done & sent mine, under the heading 'My Hopes', so as not to be filtered out.(not that they'll take a blind bit of notice, but made me feel better.)

Dear sir,

I write to you to request that you refuse Gillette & Tom Hicks their re-finance, it is with a heavy heart that i write this, due to the untold damage being done by these so called custodians of Liverpool Football club.

From day one they have fed the fans a chain of lies & broken promises, they are NOT regarded as proper owners for this club and only gained control thanks to the deceit they engaged in.

This club is to good an institution to be left to wander aimlessly into crisis and mediocrity, which is what i believe will happen should you grant them what they wish.

They have been an unmitigated disaster, and but for the management of Rafael Benitez we would be in a far worse state than we are at present.

So, i ask that you deny them re-finance and give Liverpool Fc it's soul back, find a fit & proper owner and for ever be in the debt of true Liverpool fans.

Yours Sincerely..

Er, have I missed something here?

How is sending the Club into administration (and a 20 point penalty) going to help anybody?

If there is no finance available, that is exacty what would happen. Wake up.

[Vermilion]

Er, have I missed something here?

How is sending the Club into administration (and a 20 point penalty) going to help anybody?

If there is no finance available, that is exacty what would happen. Wake up.

Or, wouldn't they just have to sell at a fair price.

[dom9]

Or, wouldn't they just have to sell at a fair price.

No. There would have to be a buyer lined up. Administration would still come first.

[Vermilion]

No. There would have to be a buyer lined up. Administration would still come first.

I think there's no shortage of buyers, just not at the inflated price they've been asking. So if finance is refused they would sell almost immediately to one of the interested parties before going into administration surely.

oh well, must have gone back to sleep ?

[dom9]

I think there's no shortage of buyers, just not at the inflated price they've been asking. So if finance is refused they would sell almost immediately to one of the interested parties before going into administration surely.

oh well, must have gone back to sleep ?

You've misundunderstood.

If the bank calls in the loans, that's it. End game - administration, and 20 point penalty. The club and it's assets will be auctioned off etc. This is too high a price to pay to get rid of the Yanks.

[Kenneth]

Er, have I missed something here?

How is sending the Club into administration (and a 20 point penalty) going to help anybody?

If there is no finance available, that is exacty what would happen. Wake up.

Barking.

[Vermilion]

You've misundunderstood.

If the bank calls in the loans, that's it. End game - administration, and 20 point penalty. The club and it's assets will be auctioned off etc. This is too high a price to pay to get rid of the Yanks.

Doesn't it depend how it's done though, for all intense and purposes West Ham have in a way been run by administrators for a while now, and have today been bought.

I would be surprised if RBS auctioned off the family jewels, would it not be sold as a going concern, assets in place but for a FAIR price?

And if not, WHAT THE **** ARE SOS PLAYING AT! ??

[Vermilion]

Barking.

Talk to 'Neil Young' about that.