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Liverpool Thread

Re: Liverpool Thread

DagsJT said:
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:LOL: :LMAO: perfect expression dagsJT
 
Re: Liverpool Thread

Fantastic news.

I think Hicks made a pretty hilarious quote a while back in April, something along the lines of "Liverool will be my most profitable investment ever"

I'm still naturally cautious of anyone else who comes in as owners, and doesnt have the cash resources of Roman or the Sheik. I think Broughton will look at the legality of considering Lim's bid.
 
Re: Liverpool Thread

NESV already have the paperwork signed up, it's going to NESV. If you read Broughton's quotes from today, he pretty much says the new owners will be NESV as well.
 
Re: Liverpool Thread

PetrovLFC said:
Fantastic news.

I think Hicks made a pretty hilarious quote a while back in April, something along the lines of "Liverool will be my most profitable investment ever"

I'm still naturally cautious of anyone else who comes in as owners, and doesnt have the cash resources of Roman or the Sheik. I think Broughton will look at the legality of considering Lim's bid.
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I think Lim's got less money than NESV as a whole. He's reported to be worth £1bn. Take away £340m (his offer), £40m transfer funds, £400m for the stadium and £40m operating funds he's left with £180m. I can't see him going for that. The way I see it he's a publicity seeker, he'll probably use the publicity gained from this to make an offer for a smaller club with less financial demands, like Bolton for example.

NESV are made up of 17 investors and John Henry himself is worth around $1bn, when you add the other investors on top of that it comes to a substantially higher amount than anything Lim can come up with.

I just thought it was very convenient that he upped his bid at the same time Hicks was in court claiming there are better offers than the NESV bid.
 
Re: Liverpool Thread

Owen Gibson has passed on the following report about the latest classy move by Hicks & Gillett. It's a long read, but it's worth it.

The owners of Liverpool Football Club today reported that a Texas State District Court has granted a temporary restraining order (TRO) enjoining the Board of Liverpool Football Club (LFC) from executing a sale of the Club to New England Sports Ventures (NESV). The court set a hearing date of October 25, 2010.

The TRO request, signed by Judge Jim Jordan of the 160th District Court in Dallas, was part of a lawsuit filed today by the owners of LFC against Royal Bank of Scotland (RBS), Martin Broughton, Christian Purslow, Ian Ayre, NESV and Philip Nash. The lawsuit also seeks temporary and permanent injunctions, and damages totaling approximately $1.6 billion (over £1 billion).

The suit lays out the defendants' "epic swindle" in which they conspired to devise and execute a scheme to sell LFC to NESV at a price they know to be hundreds of millions of dollars below true market value (and well below Forbes magazine's recent independent $822 million valuation of the club) - and below multiple expressions of interest and offers to buy either the club in its entirety or make minority investments (including Meriton and Mill Financial). It describes how the defendants excluded the owners from meetings, discussions and communications regarding the potential sale to NESV and interfered with efforts by the owners to obtain financing for Liverpool FC.

The Club's owners are represented by attorneys from the international law firm of Fish & Richardson.

The following are some of the key points in the complaint, which details the roles of RBS and the other defendants, and also describes previously undisclosed offers to purchase LFC:

"The Director Defendants were acting merely as pawns of RBS, wholly abdicating the fiduciary responsibilities that they owed in the sale."

"RBS has been complicit in this scheme with the Director Defendants. For example, in letters from RBS to potential investors obtained just within the past few days, RBS has informed investors that it will approve of a deal only if there is "no economic return to equity" for Messrs. Hicks and Gillett. In furtherance of this grand conspiracy, on information and belief, RBS has improperly used its influence as the club's creditor and as a worldwide banking leader to prevent any transaction that would permit Messrs. Hicks and Gillett to recover any of their initial investment in the club, much less share in the substantial appreciation in the value of Liverpool FC that their investments have created."

"On or about October 4, 2010, Mr. Hicks received a letter of interest from a third potential purchaser represented by FBR Capital Markets ("FBR"), offering to purchase Liverpool FC for £375 to £400 million ($595 to $635 million). The letter informed Mr. Hicks that the potential purchaser would not need financing, possessed the funds to close the transaction, and intended to build a new stadium for Liverpool FC."

"Additionally, the Plaintiffs learned just days ago about another potential investor that made a similar offer in the £350 to £400 million range that was communicated to Defendant Broughton and another unnamed co-conspirator in late August. According to this investor, Mr. Broughton never responded to the offer. Moreover, when the purported sale to NESV was announced, this investor again contacted Mr. Broughton and informed him that the offer, which significantly exceeded the NESV offer, was still on the table. Again, Mr. Broughton brushed this offer aside without further discussion."
 
Re: Liverpool Thread

PetrovLFC said:
Fantastic news.

I think Hicks made a pretty hilarious quote a while back in April, something along the lines of "Liverool will be my most profitable investment ever"

I'm still naturally cautious of anyone else who comes in as owners, and doesnt have the cash resources of Roman or the Sheik. I think Broughton will look at the legality of considering Lim's bid.
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Yes, I remember that. What a visionary. Now probably it ´s going to turn into his worst investment ever.
 
Re: Liverpool Thread

Oh just f#$k off!

But not a surprise, couldn't see them leaving it at the one courtcase. The big problem could now be a drawn out legal battle, which I would expect it to become. After all we are talking about 100's of millions of dollars.

A really big problem is that the companies who own the club are all over the place, UK, Cayman Islands, USA.......We could end up seeing legal disputes in every country!
 
Re: Liverpool Thread

TikTikTikTikTik said:
A really big problem is that the companies who own the club are all over the place, UK, Cayman Islands, USA.......We could end up seeing legal disputes in every country!
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That is a rather bleak prospect...i hope it can be avoided.
I'm pretty sure that once this mess is sorted out the team will play much better football and regain it's place just beneath the top...
 
Re: Liverpool Thread

Yes, the reason why the Texan court has a bit of sway is because RBS do business in Texas....

Gosh this is just a nightmare. But the latest rumours are that Mill Financial (a US hedge fund) have bought out Hicks's shares, and are acting on behalf of another bidder, reported to be Kenny Huang.
 
Re: Liverpool Thread

Guess I was wrong, thankfully. The companies are all UK based so it has "nothing" to do with Texas according to both the judge and the lawyers. One more courtcase to go in Texas and it will hopefully be resolved.

Great pic Dags!
 
Re: Liverpool Thread

I remember a case: controversy involving the governments of Cuba and the US.Elan Gonzales(6yrs) and his mum(21yrs)left Cuba on a boat to US. She died (drown)and Elan(survived on a raft) went w/ mum`s family in Miami. While father was in Cuba wanting his son back and rightly so. I to was amazed , how family went to federal district court to keep Elan from father. In the end Elan went back to Cuba. I think the court will take any case for the right fee shocking then and now w/ Texas Hicks plaintiff vs defendant Liverpool Board members . I might file law-suit vs. Bin laden, for making me take shoes off at the airport.
 
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Re: Liverpool Thread

WTF is going on?!

Now reports are saying Hicks has done a deal with Mill Investment and it's a race for both parties(H+Mill vs. NESV) to clear the paperwork? How can he sell anything when the Board has complete control and a 3-2 vote?

This is like reading a Grisham novel!
 
Re: Liverpool Thread

It depends on whether the shares that he's bought are for the parent companies etc. If he's bought the parent company shares then Liverpool and its board are further down the chain and I don't think they can do much about it.

What could be an issue there though, is that it's effectively a change of ownership, and the FA would need to approve that anyway (which it hasn't done).

It's all very messy but keep an eye on The Guardian's live feed and Twitter and you'll be right up to date :)
 
Re: Liverpool Thread

"Mill Financial approached the Premier League last night and asked to undertake its various tests regarding fit and proper persons and future financial info, writes Owen Gibson.

But the Premier League is believed to have rebuffed the request on the basis that it will only deal with the boards of its clubs."
 
Re: Liverpool Thread

the Premier League have rejected Mill Financial's request to take the owners test, they said they'll only deal with the board of the club.

If the rumours of Hicks selling out to Mill are true, then his and Gillett's life expectancies will have dramatically shortened today. I guarantee someone will do them in.

Bryan Swanson on SSN: "There is no legal obstacle for NESV to tackle to complete takeover this afternoon."
 
Re: Liverpool Thread

I've read that if Mill pays RBS before the deadline everything is void as they no longer have any say on the matter. Then the current Liverpool board (hometeam) have no legal back-up and can be sacked. Then offcourse NESV will start suing Mill/Hicks and the Prem will likely have nothing to say as the test is a pretty spineless element anyway.

This is such a mess...
 
Re: Liverpool Thread

Mill Financial are an arm of the Springfield Financial Companies. That has been confirmed. In recent weeks, there have been reports that they lent George Gillett £75m to meet his further loan commitments at Liverpool, and that he defaulted on that loan, so they have in effect repossessed his shares. That has not been confirmed by Mill, who so far do not return calls. Gillett has not returned a call for some weeks now.
If those reports are true, that means if Liverpool is sold to NESV for the agreed £300m, to repay all Liverpool's debts owed to the banks (except for £30m to finance stadium development), it is Mill Financial which will lose that £75m, along with Hicks losing his around £70m.
That means a US hedge fund, based, like Hicks, in southern USA - Springfield, Virginia - have a £75m loss to protect. That helps to explain why they should now be apparently working desperately with Hicks to avoid a sale to NESV. If they lend Hicks the £200m to repay RBS, the scenario being discussed at the moment by the participants, and Hicks does so, he could stay in control of Liverpool, because RBS is repaid and their hold over the board via the undertakings falls away. Hicks would owe Mill £200m, at whatever rate of interest he has had to agree to. The "payment in kind" loans from the US hedge funds at Manchester United currently charge 16.25% interest, a year, so that would be £32.5m a year interest, and there would likely be very large costs to add to it - financial institutions like to charge for the right to lend their money.
There seems little doubt that Hicks would make Liverpool itself, out of its income - fans' money, TV, commercial revenues - pay that interest and harges and service the debt, as he and Gillett did with the RBS loans. That is a major financial reason why Liverpool fans will be desperate the Mill/Hicks eleventh hour bid does not succeed.
NESV, have committed, to clearing the £300m of debt, and not loading the club with any more debt, or making the club in any way pay any of the costs associated with buying it.
NESV are saying very firmly they will sue because they have a binding agreement with the board to buy the club - as Henry has reiterated on Twitter..
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:(
 
Re: Liverpool Thread

PIPA23 said:
realy looking forward to the game and Hodgsons tactics..
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He needs to stop being such a pussy like Benitez. Sick and tired of watching Liverpool games where they act like mechanical robots!
No flair. No imagination. Just plain boring!! Where's the players who can beat people?

I've followed Liverpool for about 30 years since I was a kid. I often switch the TV off now when they are playing as they bore me to tears. Never used to be like that but they have been dreadful for years now.

I prey they at least start playing some decent footy sooner rather than later.

I don't get to go to Anfield often at all but I bet the fans are bored stiff half the time.
 
Re: Liverpool Thread

PU6HY said:
He needs to stop being such a pussy like Benitez. Sick and tired of watching Liverpool games where they act like mechanical robots!
No flair. No imagination. Just plain boring!! Where's the players who can beat people?

I've followed Liverpool for about 30 years since I was a kid. I often switch the TV off now when they are playing as they bore me to tears. Never used to be like that but they have been dreadful for years now.

I prey they at least start playing some decent footy sooner rather than later.

I don't get to go to Anfield often at all but I bet the fans are bored stiff half the time.
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I dont mean i look forward to the Hodgson era now with new owners..i still insist he should be chainged if we dont take all 3 points against Everton... other than 3 points would mean nothing...

The way we play now is maybe due to the fact what is happening out the field..now with this things sorted, i hope players heads get sorted as well..and they start with pride and passion against our bigest rival..
 
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