David Moores letter to The Times

[Craig_H]

Dont say I didnt warn you

I fear I was correct and that this whole "For Sale" announcement has been a ploy to get the banks to give them a bit of breathing space

You only have to look at how Hicks is playing out the sale of his US sports teams hes just had one of them file Chapter 11. That shows hes prepared to take things absolutely to the end

We will end up in administration before we are rid of these two

I feared that too, but at the same time, RBS arent completely clueless buffoons surely, they'll have had situations like this before (albeit on a smaller scale) where debtors will have come up with all manner of excuses, promises and bull**** in order to extend the duration of their deal.

[Chris]

I feel Moores gets too much abuse for his mistakes and a bit more forgiveness wouldn't go amiss.

He just admitted he allowed Hicks in because Gillett said he was alright! His ineptitude is staggering and he deserves every bit of **** he gets, he might have just ****ed this club up forever.

[Craig_H]

Oh, and regarding the administration thing, i think that'll happen too.

We'd have been better off going into administration this season just gone, the points deduction wouldnt have really mattered.

As it stands, whenever it does happen, it'll **** up that particular season too.

[Neil Young]

He just admitted he allowed Hicks in because Gillett said he was alright! His ineptitude is staggering and he deserves every bit of **** he gets, he might have just ****ed this club up forever.

Oh right, I guess you've never ****ed up.

Did you read the bit before the line you quoted?

[Chris]

Oh right, I guess you've never ****ed up.

I wouldnt do a multi million pound deal because a man I dont know said someone was kosher I can say that much.

I cant believe you're comparing this to normal every day mistakes. Theres always some, you're as bad as the lot of em.

[Craig_H]

I wouldnt do a multi million pound deal because a man I dont know said someone was kosher I can say that much.

I cant believe you're comparing this to normal every day mistakes. Theres always some, you're as bad as the lot of em.

It's a staggering comparison to try and make.

[kingfunk]

David Moores fighting to hold his head up high

Tony Barrett

After becoming Liverpool chairman in 1991, David Moores was paid a warm tribute by one of his predecessors.

“The Moores family have been great benefactors to Merseyside football,” Sir John Smith said. “David’s appointment will keep the predators at bay.”

Almost two decades on, the predators have not only stormed the Shankly Gates, they have put the future of Liverpool at stake. It is little wonder that Moores has not only revealed his “regret” at selling Liverpool to Tom Hicks and George Gillett Jr but also called upon the unpopular pair to sell up at a reasonable price.

Moores has been criticised on two fronts in particular since it became clear to the overwhelming majority of Liverpool’s fans that the club are in the wrong hands. First, for selling to the Americans in the first place, and second, for remaining silent while the club stumble from one crisis to another.

By penning such a remarkable and, in places, hugely poignant letter, Moores has attempted to put the record straight on both fronts. It is also typical of a man who has always been naturally shy of publicity — he even refused interviews five years ago today on the morning after Liverpool had won their fifth European Cup amid wondrous circumstances in Istanbul — and wary of causing controversy. It is abundantly clear that he is acutely aware of the damage that is being done to the club and is desperate for it to be brought to a halt.

On several occasions during the past 12 months, The Times has sought an interview with Moores only for such approaches to be politely declined. There were occasions when it seemed like he would be ready to talk on the record, but for a variety of reasons it never transpired, despite Moores’s exasperation at what was happening at Anfield being widely known on Merseyside.

It is because of this that his letter assumes such significance. In many respects, it is an historical document because it represents the first-hand recollections of one of the most important figures in the most turbulent spell in the club’s history. This is David Moores trying to explain why he felt compelled to sell Liverpool, why he opted for the offer from Hicks and Gillett and not a rival bid from Dubai International Capital (DIC), and why he has come to regret his decision.

It is unlikely that all his critics will be won over by his account. But it will provide food for thought, with a situation that had for so long seemed black and white being clouded by shades of grey.

Perhaps the most crucial revelation involves the sales process. It had been widely believed that there had been no due diligence on the club’s behalf, that Moores had handed control to Hicks and Gillett without seeking, never mind receiving, reassurances about their ability to make good on their promises not “to do a Glazer” by saddling the club with inordinate levels of debt and that a new stadium would be constructed “as soon as reasonably practicable”.

This, in the eyes of Moores’s fiercest detractors, was his biggest failing, a perceived dereliction of duty that left the club he claimed to love in the hands of the predators he was supposed to protect them from. But his claim — and it is supported by an e-mail trail and other corroborating evidence — that Rothschild, the investment bank, provided these assurances after being appointed by the purchasers casts the circumstances surrounding the sale in a different light. His position is supported further by the official offer document that was put forward on behalf of Hicks and Gillett by Rothschild that made it clear that the club would not be responsible for the purchase debt.

But 3½ years later and Liverpool have just paid £40 million in interest to meet the requirements of the debt loaded on to them by Hicks and Gillett.

The disclosures regarding DIC’s offer are also illuminating. There is no doubt that DIC was the preferred option of Moores and the Liverpool board for a considerable period, but at a time when Dubai was involved in billions of pounds-worth of global investment, Moores’s recollections suggest one of its main investment arms dragged its feet when presented with an opportunity to purchase a genuine sporting trophy asset.

In hindsight, it would be easy to come to the conclusion that neither DIC nor Hicks and Gillett were right for Liverpool.

There will be much debate about Moores’s version of events, but one thing is in little doubt: there will be precious few Liverpool fans who do not share his feelings on the present owners of the club.

http://www.timesonline.co.uk/tol/sport/football/premier_league/liverpool/article7136481.ece

[Neil Young]

I wouldnt do a multi million pound deal because a man I dont know said someone was kosher I can say that much.

I cant believe you're comparing this to normal every day mistakes. Theres always some, you're as bad as the lot of em.

OK, big internet warrior man.

[Lecter]

I feared that too, but at the same time, RBS arent completely clueless buffoons surely, they'll have had situations like this before (albeit on a smaller scale) where debtors will have come up with all manner of excuses, promises and bull**** in order to extend the duration of their deal.

"RBS arent completely clueless bufoons surely"

I just dont believe they have played a game with someone as devious as Hicks who is prepared to take it all the way to administration before they get him to fold

I genuinely believe there is a reluctance for RBS to put us into administration

I really have given up on our club, what is going on the pitch becomes ever more irrelevant. We are out of control

[Neil Young]

It's a staggering comparison to try and make.

Is it?

Like I said, it's easy to criticise if you never have to make a decision.

I hate judgemental tosspots.

[TheElephantMan]

I don't see the point in dwelling too much on the past, we're in a mess and although Moores contributed to this situation he may still play a part in resolving our problems. Let's wait to see what he has to say before being too critical.

[Chris]

I hate judgemental tosspots.

And yet you're the biggest one on here.

Its quite possible our club will never be the same again yet you're mocking people who are pissed off at that? You really are an utter lowlife.

[Craig_H]

Is it?

Like I said, it's easy to criticise if you never have to make a decision.

I hate judgemental tosspots.

Anyone passing comment that holds Moores accountable, will be seen by you to be 'judgemental tosspots'. So either people have no opinion, or share yours, otherwise they cannot avoid that particular title you're bestowing upon them with such dignity.

As for your comparison of the kind of decisions or mistakes normal folk make, against that which Moores made - as i said, staggering to try and compare the two.

[spanky]

so will this letter be translated or printed in its original crayon form?

[Craig_H]

"RBS arent completely clueless bufoons surely"

I just dont believe they have played a game with someone as devious as Hicks who is prepared to take it all the way to administration before they get him to fold

I genuinely believe there is a reluctance for RBS to put us into administration

I really have given up on our club, what is going on the pitch becomes ever more irrelevant. We are out of control

Well yes, with regards to the RBS comment, obviously things have happened over the course of time which puts their competence into question, but by the same token, they didnt get into their (former) relatively strong position by just being scammed by anyone who made false claims about the sale of a business, just to pull the wool over their eyes and sneakily hang onto said business despite not being able to service the debt placed against it.

I agree with you about on field matters, they are clearly just a formality.