Re: Liverpool Thread
Tom Hicks rejects idea of Liverpool FC fans on board
Mar 11 2008 Exclusive by Dave Prentice, Liverpool Echo
TALKS between Liverpool’s American co-owner Tom Hicks and Dubai International Capital collapsed after the Dubains proposed putting a fans representative on the Anfield board, the Echo can reveal.
It is understood that DIC wanted a supporter representative in the boardroom, with full voting rights.
The plan to give fans a real stake in the club’s running followed a trip to Liverpool by a representative of DIC, who met members of supporters’ groups campaigning for the Americans to sell to DIC.
American billionaire Hicks last night swiftly pulled the plug on discussions held yesterday with DIC, saying: “Based on a meeting held earlier today in Dubai between my representatives and officials of Dubai International Capital LLC, as well as other recent contacts between us and them, I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop and, in turn, in the Club.
“DIC made it clear that if they invested in the Club, they would want it to be managed by committee.
“Based on my thirteen years of successful experience as an owner of professional sports teams, and based in particular on the situation at Liverpool Football Club over the past year, it is clear to me that such a committee approach would not be in the best interest of Kop, of the Club or of the Club's loyal and passionate supporters.
“Accordingly, I have decided to exercise my right under the Kop Football (Holdings) Limited partnership agreement to veto any sale of any portion of Kop and the Club to DIC.
“I and my colleagues and representatives will continue to explore a number of other options with regard to the ownership of Kop and the Club aimed at achieving an appropriate ownership, financial and organisational structure for Kop and the Club over the long term.”
DIC have made no official comment since, but significantly have not said they are no longer interested in purchasing the club - or a significant stake in it.
It is understood their interest has not waned despite Hicks calling off any deal. It has also been suggested Hicksd wanted the ubaiins to ;pay for the building of the new stadium and for future transfer fees, but without any real say over big decision regarding the club’s future.
There has also been no comment from American co-owner George Gillett, who has fallen out with Hicks and has made no comment for many weeks and whose name has been missing from all recent statements issued from America.
Gillett is understood to have agreed in principle to sell 49% of his 50% stake to DIC, and the other 1% to Hicks to give the Texan a controlling interest.
DIC have accepted that Hicks will not sell his share in Liverpool in the near future, but would insist on a clause giving them first refusal to buy his stake.
As far as Liverpool are concerned now, it is back to square one with Hicks and Gillett at loggerheads – even more so now the Texan has vetoed the sale – and there are only 17 months until the £350million loan the Americans took out in January has to be refinanced again.
Furthermore, another loan of around £300million will have to be taken out to finance the building of the new stadium at Stanley Park.
http://www.liverpoolecho.co.uk/live...f-liverpool-fc-fans-on-board-100252-20605103/
- No pun intended :lol: