Morgan on DIC

[Rosco]

So everyone who 'believes' we have 80-90 million debt, perhaps you can explain it? because I can't see it on the balance sheet.

also, its common knowledge that morgan was trying to get the club on the cheap.

finally, 'I would have let the fans keep a bit of the club' spiel. Only because he couldn't afford to buy the whole club.

I'm not for a minute buying the Morgan rhetoric, but he's right in a few respects and to refuse to acknowledge it because it's him that said it is akin to burying your head in the sand.

I'm not sure what the current figure is, but if you take a look at the last set of accounts our current liabilities plus long term debt = roughly £73m so he wasn't far wrong.

[Rosco]

I know the debt is ~20M. It says so on the balance sheet. Morgan was just spinning the numbers to drive the price down. He's craftily re-defined debt to mean debt + liabilities (i.e. season ticket income is a liability but we clearly won't have to pay that back).

It seems Morgan has been able to pull the wool over most of our eyes, even those of us educated by ex-Harvard Professors.

What do you think a liability is ?

[Rosco]

ha ha ha


resorting to "my dad/professor is bigger than your dad/professor", is not going to get you much credibility. Quit while you are behind

I'm well ahead. But I should probably apologise for having an education, I know they're not popular amongst football fans.

Nobody has come up with anything to counter the figures and facts I've set out.
No amount of smilies will disguise that.

[captainfog]

Why are we quibberling over the amount of debt we have at the moment, it doesn't matter whether it's 20mil or 90mil what ever happens it looks like the purchase is going ahead and those debts swallowed up which is surely a good thing?

Morgan is a bit of a dick and I take what he says with a pinch of salt, however, I am also sure there is some element of truth in what he says even if it is, as some have suggested, purely speculation

[Rosco]

Why are we quibberling over the amount of debt we have at the moment, it doesn't matter whether it's 20mil or 90mil what ever happens it looks like the purchase is going ahead and those debts swallowed up which is surely a good thing?

Morgan is a bit of a dick and I take what he says with a pinch of salt, however, I am also sure there is some element of truth in what he says even if it is, as some have suggested, purely speculation

The thing is it's not speculation.

There are a limited amount of shares available to DIC, they can't put money into the club unless they buy shares.

That's why the figure they'll be putting into the club can be estimated at this time.

Your earlier post was spot on in many respects too mate.

[El Jefecito]

What do you think a liability is ?

ha ha ha. You are playing the obfuscation game as Morgan.

People pay for their season tickets up front. The fact that the games haven't been played affects how and when we can recognise the revenue.

By your definition that is 'debt'. Sorry, but UK accounting rules just don't support that. Ask your ex-harvard professor (now we know why the 'ex').

[El Jefecito]

I'm well ahead. But I should probably apologise for having an education, I know they're not popular amongst football fans.

Nobody has come up with anything to counter the figures and facts I've set out.
No amount of smilies will disguise that.

Dude, the annual report contradicts your 'facts'.

So we go from my dad is bigger than your dad to my degree is better than your degree (which it is not BTW). Sad.

[Radar]

So does Morgan like DIC or not ?

[captainfog]

The thing is it's not speculation.

There are a limited amount of shares available to DIC, they can't put money into the club unless they buy shares.

That's why the figure they'll be putting into the club can be estimated at this time.

Your earlier post was spot on in many respects too mate.

If they buy the club they will be able to pump as much or as little cash into the club as they wish. The share price will only really impact on how much Moors is going to get.

[ElRobbie]

Sounds to me like Morgan is just gutted that it won't be him and he's still bitter about it, the fact that the FIRST things he talks about are that his bid was pre Rafa Benitez settling, The CL win and the Sky TV deal, says an awful lot, he makes out he was in it as a fan when really he was in it for himself, cause he's gutted that we've had an upturn in fortunes since then and the club is valued higher and generated more income and interest from the afore mentioned reasons.

Yes he may be in it as a fan but in my eyes he was always in it for himself, yes partly for business reasons but mostly for nostalgia so that he could be the main shareholder and pull the strings and be proud etc etc.

Everything he says is trying to talk up his own deal and talk down this one, he doesn't really say anything positive at all about the DIC deal which again says an awful lot, given that they have a lot more financial resource than he does. Which again proves he is just being very bitter because if he really really was thinking of the club first then he would be happy for the club.

He just strikes me as a very bitter and selfish man who is pretending to be in it for the club and the fans but his words say the exact opposite to me.

At the end of the day, they want to have 100% control and nobody is expecting them to just give us the money for the stadium and to pay off the debt, they will want a return and won't just write a cheque as Morgan says, but to get that return they will have to invest in the club on and off the pitch to make it succesful, and thats the key thing, and they have more clout than Morgan to do that.

[Red Chilli]

I'm well ahead. But I should probably apologise for having an education, I know they're not popular amongst football fans.

Nobody has come up with anything to counter the figures and facts I've set out.
No amount of smilies will disguise that.

That's because you haven't come up with any FACTS apart from those written in a soddin newspaper. Show me the facts about the specifics of the deal. Show me where it says DIC will not pay off our debt and will not just pay for a new stadium.
Show me ANYTHING which you/Morgan claims about the deal is fact, backed up by evidence and then we'll give you a reasonable response.

Until you can, your wild speculation remains just that

[Red Chilli]

So does Morgan like DIC or not ?

I think he's in denial

[OldManRed]

IMO they've seen what Abram has done to the profile of Chelsea and if he can do that to such a **** club, then they must be thinking that the sky's the limit for Liverpool (who are already known and supported around the world)

At the end of the day, they want to have 100% control and nobody is expecting them to just give us the money for the stadium and to pay off the debt, they will want a return and won't just write a cheque as Morgan says, but to get that return they will have to invest in the club on and off the pitch to make it succesful, and thats the key thing, and they have more clout than Morgan to do that.

What they say

[enema of the state]

I know the debt is ~20M. It says so on the balance sheet. Morgan was just spinning the numbers to drive the price down. He's craftily re-defined debt to mean debt + liabilities (i.e. season ticket income is a liability but we clearly won't have to pay that back).

It seems Morgan has been able to pull the wool over most of our eyes, even those of us educated by ex-Harvard Professors.

[CharlieMansonsSquint]

I know he has a reasonable shareholding; but how does Morgan know what DIC are going to do with the club, and how much they are going to spend, or not as the case may be?

Of course the fact that they aren't locals instantly makes their intentions evil, or in it for the money. And of course being a local Steve Morgan wouldn't be the same.