Morgan on DIC

[enema of the state]

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.

morgans spin suggested that this figure - incorporating liabilities in the future - was a terrible, secret black hole in the finances leading to the "withdrawal" of his offer when in fact it was a failed gambit to force moore to drop his price - along with some scandalous media slurs.

its not - its just a typical, manageable combination of outright debt and liability which may organisations of lfc's turnover can comfortably tolerate.

youre clearly a bright guy roscoe (even if youre less well educated than I having only studied at harvard or under someone who was professor at harvard ) but the point your making is trite to the point of irrelevance.

YES the figure morgan put out has a tenuous basis in fact

NO, the spin put on that fact is not an accurate or reasonable account of lfc's finances but a cynical and dishonest attempt to slur the current lfc management with allegations of financial mismanagement and buy lfc on the cheap. to cheat david moores if you prefer.

morgan has NOTHING to crow about here. lfc always has been - as ive pointed out to the imbecile zico on kt before - a wonderful investment opportunity.

morgan has done nothing more than make himself look dodgy. enjoy your minority stake steve and stick to living it up as a millionaire ex-brickie. lfc needs someone with more skills, more money and above all more integrity than you to lead it.

[El Jefecito]

morgans spin suggested that this figure - incorporating liabilities in the future - was a terrible, secret black hole in the finances leading to the "withdrawal" of his offer when in fact it was a failed gambit to force moore to drop his price - along with some scandalous media slurs.

its not - its just a typical, manageable combination of outright debt and liability which may organisations of lfc's turnover can comfortably tolerate.

youre clearly a bright guy roscoe (even if youre less well educated than I having only studied at harvard or under someone who was professor at harvard ) but the point your making is trite to the point of irrelevance.

YES the figure morgan put out has a tenuous basis in fact

NO, the spin put on that fact is not an accurate or reasonable account of lfc's finances but a cynical and dishonest attempt to slur the current lfc management with allegations of financial mismanagement and buy lfc on the cheap. to cheat david moores if you prefer.

morgan has NOTHING to crow about here. lfc always has been - as ive pointed out to the imbecile zico on kt before - a wonderful investment opportunity.

morgan has done nothing more than make himself look dodgy. enjoy your minority stake steve and stick to living it up as a millionaire ex-brickie. lfc needs someone with more skills, more money and above all more integrity than you to lead it.

That is what I was trying to say

[Rosco]

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

I posted a breakdown of the deal, the numbers of shares involved etc on this site a few weeks ago well in advance of Morgan's claims yesterday.

This initial deal is for a majority stake in LFC not 100%. Unless they own 100% of the club they can't put more money in to cover debts and a stadium. A company can raise money in two ways, by selling shares or by taking on debt. When this deal is done (for about 30,000 shares or so , probably at about a price of £5k a share) LFC will have no shares to sell. That means they can't buy any more shares in the company, so the initial investment (purchase of the as yet unissued shares) is all I think they'll be putting into the company.

The number of shares that remain unissued is available in the accounts , that multiplied by the share price is the amount of money that will be available to the club to fund a stadium.

Rick Parry in his interview yesterday stated that DIC would "assist in funding the stadium", why didn't he just say "DIC will pay for a stadium" ? I'll tell you why because it's not the truth.

Paying for and funding are two subtely different things.

[Rosco]

. lfc always has been - as ive pointed out to the imbecile zico on kt before - a wonderful investment opportunity.

100% correct.

We're a model for it.

At a time when football attendances are falling around the majority of the league we've got a 10-15 year waiting list for season tickets and a 6 year wait for a corporate box.

People are begging to pay to see us play and we can't accomodate them. It's been our biggest failure over the past seven or eight years.

[Growler]

other than not winning the league and buying Diouf, Cheyrou et al.