Liverpool F.c.

[StevieH]

Jumping out of the frying pan in to the fire me thinks.

you've not read enough about the deal and NESV then nev.

And how can you force your owners to sell,this could go on for a long time through the courts.

Because they agreed with RBS to appoint these people to the board in exchange for RBS extending their debt ... in the hope theyd find a buyer, and they have. This is my take on it someone correct me if im wrong.

that's quite correct - though 'these people' is just the one as it goes, broughton as chairman. RBS agreed to refinance H&G last time they were due to pay money back (money they of course didn't have being leverage specialists) in exchange for RBS's man broughton being made chairman with a casting vote on the board of 5.

push has now met shove and i'm hoping that broughton, purslow, ayre plus their law firm slaughter & may have done their research properly and hicks no longer has a leg to stand on. he will fight dirty though, make no mistake.

[MSingh]

push has now met shove and i'm hoping that broughton, purslow, ayre plus their law firm slaughter & may have done their research properly and hicks no longer has a leg to stand on. he will fight dirty though, make no mistake.

I hope so honestly, for LFC's sake..

http://news.bbc.co.uk/sport2/hi/football/teams/l/liverpool/9074311.stm

<P class=first>Liverpool are likely to face a nine-point deduction if parent company Kop Holdings goes into administration. League rules say a deduction can be applied if a parent company insolvency is caused by the club's management.

Sources suggest owners Tom Hicks and George Gillett would struggle to argue that the running of the football club has not affected the holding company.

Liverpool could enter administration if a sale to the owners of the Boston Red Sox is not completed by 15 October.

If Hicks and Gillett manage to block a £300m takeover of the club by New England Sports Ventures (NESV), their holding company could be put into administration by the Royal Bank of Scotland as a result of their £280m debts.

The Premier League board, which comprises chief executive Richard Scudmore, chairman Sir Dave Richards and secretary Mike Foster, would then decide whether to dock points.

Liverpool are already in the bottom three of the Premier League after a dismal start to the season, amassing only six points from their opening seven games.

Initially, it was thought the Reds would avoid a points penalty but the club now faces the very real possibility of a deduction if a sale to NESV is delayed.

Liverpool's fate rests on the outcome of a declaratory judgement in the High Court next week over whether the club can be sold to NESV despite the objection of the club's owners.

An appeal is likely regardless of the High Court ruling, with no outcome likely before the 15 October refinancing deadline set by RBS, the club's major creditor.

RBS will have the choice to waive their demand for repayment until the legal dispute is finalised, or call in the debt and place the parent company into administration.

Portsmouth became the first Premier League club to enter administration earlier this year and automatically received a nine-point reduction, condemning them to relegation.

In a similar case, West Ham avoided a penalty when their holding company went into administration in 2009.

That is because the London club was just one of several interests in the portfolio of Straumur, the Icelandic bank.

However, also in 2009, Southampton were docked 10 points by the Football League after their parent company Southampton Leisure Holdings went into administration, as a League investigation found they were "inextricably linked as one economic entity". That was a decision taken by the Football League rather than the Premier League.

Meanwhile, John W Henry and the other directors of NESV are expected to pass the league's new 'owners and directors' test, making official approval of the takeover a formality.

[nev]

Jumping out of the frying pan in to the fire me thinks.

you've not read enough about the deal and NESV then nev.

And how can you force your owners to sell,this could go on for a long time through the courts.

Because they agreed with RBS to appoint these people to the board in exchange for RBS extending their debt ... in the hope theyd find a buyer, and they have. This is my take on it someone correct me if im wrong.

that's quite correct - though 'these people' is just the one as it goes, broughton as chairman. RBS agreed to refinance H&G last time they were due to pay money back (money they of course didn't have being leverage specialists) in exchange for RBS's man broughton being made chairman with a casting vote on the board of 5.

push has now met shove and i'm hoping that broughton, purslow, ayre plus their law firm slaughter & may have done their research properly and hicks no longer has a leg to stand on. he will fight dirty though, make no mistake.

As much as i hate liverpool i still wish you luck getting rid of your parasites,hope we can do the same too one day.

United 100 million pofit and at the end of the day we have not got a pot to piss in.

[Abrak]

For a start, I dont think Hicks has much of a chance. When as an owner you agree to a more independent Board because you cannot repay your debts, then it is difficult to argue when things go against you. If he wasnt desperate, he would have done better than trying to replace the existing Director's with his son!

I think that NESV is a difficult new owner to choose. They are not mr moneybags, the are American but you cant help thinking that Broughton wouldnt have picked them unless he had done his homework. The other thing to consider is when there is always one public bid for Liverpool, another one is apparently lurking in the wings. These bids tend to mysteriously disappear all at once.

Id think NESV is going to try and flip Liverpool but they know flipping is based on making the club successful rather than through failure - so it is probably not a bad business plan.

My principle concern is that the takeover will not convince the squad. The fans may not be looking for moneybags but maybe the squad is after all that has gone on. All this stuff about building a super squad out of tuppence ha-penny based on metrics and statistical analysis is very 2003. I wish them well. I cant help feeling that any honeymoon they enjoy with the fans will be fairly short lived if they are not successful. Somehow I am not personally convinced that sticking with Hodgson to spend your first GBP50m in the transfer window is the right approach but, quite correctly, they have kept their plans fairly opaque.

[MSingh]

For a start, I dont think Hicks has much of a chance. When as an owner you agree to a more independent Board because you cannot repay your debts, then it is difficult to argue when things go against you. If he wasnt desperate, he would have done better than trying to replace the existing Director's with his son!

I think that NESV is a difficult new owner to choose. They are not mr moneybags, the are American but you cant help thinking that Broughton wouldnt have picked them unless he had done his homework. The other thing to consider is when there is always one public bid for Liverpool, another one is apparently lurking in the wings. These bids tend to mysteriously disappear all at once.

Yeah but let's smell the Coffee a bit where Broughton is concerned, the Guy has been put in place to Broker a deal to sell the Club, he's a Broker that has the Job Title of " Liverpool FC Chairman " becaus eit's much nicer to be called that than " Broker of Liverpool FC "..

The Guy gets commission on teh Sale of a Club, he's gonna say " These are the best people to buy the Club " etc like i've read he's said..

Broughton is a Chelsea Season Ticket Holder so i'd assume he is a Football Fan too, that doesn't mena of course he's purposely put in wrong Owners to Liverpool, i'm not saying that at all becaus eit would be ludicrous, but ultimately he wants & has been working towards the Sale of the Club to whoever, that's what he's there for, nothing else..

[rixalex]

As much as i hate liverpool i still wish you luck getting rid of your parasites,

Quite so. They are the scourge of the game that i don't wish on my worst enemies.

hope we can do the same too one day.

United 100 million pofit and at the end of the day we have not got a pot to piss in.

It is a joke isn't it.

[highchol]

all togethr now......come and join us, come and join us, come and join us over here ....

( the lower league thread )

[Jimjim]

if you look at what they have done with the red sox they have invested in the playing staff and the stadium with a view to making a sustainable business.

The Red Sox dont have to compete with the equivalent of Abramovich and Abu Dhabi, from what i know about US sports is they pretty much share the money out equally, and they dont have the lottery of the transfer market, i dont think any Americans truly grasp this concept.

Um, you have no idea what you're talking about, I'm afraid (no offense intended). It's not the same exact system, but in baseball the lottery of the transfer market can be compared to the lottery of free agency, especially in baseball where there's no salary cap. All the major US sports have free agency but with baseball, just like major European football, money is no object if you have it and you can buy teams.

The Boston Red Sox had their arch rivals the New York Yankees (biggest rivalry in baseball, think Liverpool -- Man U) to compete with, and no, the money isn't all just shared around equally in baseball. Basketball and the NFL (American football) are 2 completely different matters. Not all US Sports are run in the same exact way. But the Yankees, they are something else. It's not a far stretch at all to compare the owners of the Yankees to Chelsea and Man City, and the Yankees' owners have been around much longer. Ever heard of George Steinbrenner, the most hated man in baseball? Unless you're a Yankees fan, of course, you hate him for buying or attempting to buy championship teams. I don't know exactly what's happened to the ownership now that he's recently died, but man, while he was alive, he was something else. Spent more money than any other team by far in efforts to dominate baseball, and was successful a lot of the time, and also failed plenty of times partly due to his own madness and interfering with the team, but that's another story in itself.

In baseball, there is no salary cap for instance, and teams can pay players as much as they want. Not so with the other sports. The Yankees have been doing this for the last 30 years, attracting players with sky-high salaries. Of course they couldn't keep it up year after year, but they have had their spurts of major spending, even in the last 2 off-seasons. In baseball, players often become free agents and then can choose their team. They do not always extend contracts with their current teams so that if they play well, they can get a new, big contract from a new team or even their own team. Many such big free agents have been going to the Yankees year after year. It was just unfortunate for the Yankees that they went through a long drought after the 90s until recently when they won again. It wasn't for lack of spending money, though. The Yankees have spent a lot of money over the years buying the best players possible, and often the players have just under-performed or dropped off in quality once they got that huge contract. But other times, they have won it all with such players.

So yes, American baseball fans understand the concept of buying teams quite well, thank you. Particularly Red Sox fans, who had to watch the Yankees win for years and years with big money while they suffered for 80+ years winning no championships until Henry and co. came along to rescue them understand it all too well. And now these same owners have come to Liverpool, hopefully to the rescue as well, and with same results of ending a long drought for a top division champion trophy.

Hope that clears up that notion of how you think all American sports work.

[Devil]

Start of the Court Room battles today! lets hope this is sorted out fast.

Notice J Henry already made some comments on his Twitter - must be confident.

"Hello LFC supporters!"

"It would be inappropriate and presumptuous at this time to respond to questions. In the interim, we're all rooting for the same thing."

Edited October 12, 2010 by Devil

[StevieH]

loving the sound of this lord grabiner QC. sounds a right sort.

[longstebe]

If all goes well today, when will the Henry an Co takeover be made official?

What's the time frame?

[Devil]

Liverpool Daily Post

LIVERPOOL football club today won their seismic court battle against co-owners Tom Hicks and George Gillett.

At around 10.45am today Mr Justice Floyd ruled in favour of the English members of the Anfield board in a decision that has massive implications for the Reds.

An application from the Royal Bank of Scotland that Hicks and Gillett illegally reconstituted the board when they tried to remove directors Christian Purslow and Ian Ayre last Tuesday was upheld amid triumphant scenes at the High Court in London today.

The decision effectively established the Americans breached written undertakings made in April that only chairman Martin Broughton could reconfigure the board.

Now the path appears clear for the £300m sale of Liverpool to New England Sports Ventures to go through – as voted on a 3-2 majority one week ago.

Edited October 13, 2010 by Devil

[StevieH]

If all goes well today, when will the Henry an Co takeover be made official?

What's the time frame?

talk of it being done by friday even. there should be no reason for delay now.

i believe the expression is get the fuc_king fuc_k in there and fuc_k you and the leveraged buyout horses you rode in on messrs hicks and gillett.

to quote a mate, i woke up today and saw miners and liverpool fans celebrating on the telly and assumed margaret thatcher was finally dead.

[longstebe]

If all goes well today, when will the Henry an Co takeover be made official?

What's the time frame?

talk of it being done by friday even. there should be no reason for delay now.

i believe the expression is get the fuc_king fuc_k in there and fuc_k you and the leveraged buyout horses you rode in on messrs hicks and gillett.

to quote a mate, i woke up today and saw miners and liverpool fans celebrating on the telly and assumed margaret thatcher was finally dead.

Is right Stevie.

Happy days mate. Just read the statement on our web site about the board meeting tonight.

One of the questions was in regard to Mr. Lims offer.

Interesting indeedy !!!!

What a week this may turn out to be especially when we beat them blue nose bastards.

[StevieH]

If all goes well today, when will the Henry an Co takeover be made official?

What's the time frame?

talk of it being done by friday even. there should be no reason for delay now.

i believe the expression is get the fuc_king fuc_k in there and fuc_k you and the leveraged buyout horses you rode in on messrs hicks and gillett.

to quote a mate, i woke up today and saw miners and liverpool fans celebrating on the telly and assumed margaret thatcher was finally dead.

Is right Stevie.

Happy days mate. Just read the statement on our web site about the board meeting tonight.

One of the questions was in regard to Mr. Lims offer.

Interesting indeedy !!!!

What a week this may turn out to be especially when we beat them blue nose bastards.

we're still well in the woods man but we can at least see a way through the trees now. lots still to be done, ensure the right buyer, get the club back on an even keel, replace roy with a manager who has a clue and hopefully beat the &lt;deleted&gt;. great day though, delighted.

[longstebe]

These pricks are not gonna go quietly. How can a court in Texas have any say on a business in the UK. Where did they get the $1.6 million from? Just when we thought it was coming to an end they come out with this &lt;deleted&gt;.

[StevieH]

These pricks are not gonna go quietly. How can a court in Texas have any say on a business in the UK. Where did they get the $1.6 million from? Just when we thought it was coming to an end they come out with this &lt;deleted&gt;.

it's a ludicrous last throw of the dice this from a despicable cun_t. never going to see a courtroom, he's just trying to make as much trouble as possible for LFC before he fuc_ks off.

[MSingh]

These pricks are not gonna go quietly. How can a court in Texas have any say on a business in the UK. Where did they get the $1.6 million from? Just when we thought it was coming to an end they come out with this &lt;deleted&gt;.

it's a ludicrous last throw of the dice this from a despicable cun_t. never going to see a courtroom, he's just trying to make as much trouble as possible for LFC before he fuc_ks off.

Here it is...

http://www.scribd.com/doc/39284612/Liverpool-TRO

By my understanding longstebe, if the RBS & NESV can get the " temporary " restraining order by the Texan Court lifted today ( Thurs ), then they will sell the Club right under the noses of Statler & Waldorf without even a whimper hopefully for your sakes, by tomorrow ( Fri ) & avoid Administration...

I don't however think it's gonna be as straightforward as that unfortunately, for LFC..

[nev]

These pricks are not gonna go quietly. How can a court in Texas have any say on a business in the UK. Where did they get the $1.6 million from? Just when we thought it was coming to an end they come out with this &lt;deleted&gt;.

it's a ludicrous last throw of the dice this from a despicable cun_t. never going to see a courtroom, he's just trying to make as much trouble as possible for LFC before he fuc_ks off.

Mate you cannot blame them fighting to the end they have lost a sh*t load of money.

[longstebe]

After this &lt;deleted&gt; coming out of the blue I'm with MSingh, I think it maybe stretched out and like you say, it will take us past Friday's deadline.

I hope were wrong.

Currently in Texas at the moment, does anyone know where they live???

[longstebe]

Nev, just like them, I don't care. Its the way their conducting themselves at the moment.

[StevieH]

These pricks are not gonna go quietly. How can a court in Texas have any say on a business in the UK. Where did they get the $1.6 million from? Just when we thought it was coming to an end they come out with this &lt;deleted&gt;.

it's a ludicrous last throw of the dice this from a despicable cun_t. never going to see a courtroom, he's just trying to make as much trouble as possible for LFC before he fuc_ks off.

Mate you cannot blame them fighting to the end they have lost a sh*t load of money.

they agreed to broughton's role and the changing of the board structure when RBS refinanced them. they lied about not placing debt on the club and building a new stadium. fuc_k them, they deserve to lose a sh*tload of money for being lying chancers. on top of the financial ruin i also hope they both have heart attacks in the next couple of weeks.

[mrbojangles]

Congrats to the Chilean miners. However, their work is not over and they are on an urgent mission to Anfield. Apparently they are going to advise Roy Hodgson on how to get out of fekkin big hole before Christmas

[gotlost]

Liverpool deal in limbo.

http://edition.cnn.com/2010/SPORT/football/10/13/football.liverpool.court/index.html?hpt=T2

[longstebe]

2pm court hearing today.

[longstebe]

From what I understand the court hearing for Friday in TX will take place in the morning at 7am CT, 7pm Thai time.

They (hicks and his people) have been given a deadline, 10am CT.

Hopefully this is the last hurdle.

[BlueScouse]

http://newsarse.com/2010/10/06/liverpool-to-be-renamed-merseyside-red-sox/

[Jockstar]

Hicks and Gillett lift restraining order

By ESPNsoccernet staff

Reports claim Tom Hicks and George Gillett have now lifted the Texas court restraining order preventing the Royal Bank of Scotland (RBS) from completing the sale of Liverpool.

The news would mean, theoretically, that New England Sports Ventures should be able to complete the takeover on Friday.

ESPNsoccernet understands NESV have a banker's draft ready to dispatch to RBS before the 1700 BST deadline on Friday to erase any lingering concerns about Liverpool going into administration.

However, the early lifting of the injunction could also be because Hicks and Gillett are keen to push through a deal via Mill Financial. Hicks is apparently looking to sell his shares to the hedge fund, which acquired Gillett's shares in August, and it would then pay off the debts, which have risen to £280 million to keep the club out of NESV's hands.

Indications are, though, that RBS has been advised by their legal team against accepting Mill Financial's offer to do so.

[longstebe]

This early. Hope its true.

[Abrak]

Does anyone happen to know whether this acquisition is going to be debt financed. I say that because we know for sure that the acquisition will pay off the existing debts but we are less than sure that it is a cash bid rather than a bid financed by debt to pay off debt.

The reason this concerns me is that confidence in the new owners is pretty fragile and there has been a general indication that this acquisition will be debt free in the sort of opaque way that it might not be. One thing that I find rather frustrating about these dealings is that they should have been far more transparent. Offers appear and disappear and noone knows why. Supposedly Kenny Huang never came up with a clear offer and financed offer but noone says. Lim made a 'good and acceptable offer' along with 'NESV' but the Board wouldnt talk to him.

Everybody is trying to manipulate everyone else. Lim could possibly be another disappearing buyer but why pretend he was something else. There is a lot of double speak going on. H&G said they would start building a new stadium within 60 days. NESV says it will either develop the current stadium or the other one at some point. There were rumors about NESV's financial state in 2007/08. What have they said about Roy Hodgson - I am a bit confused. But you are not going to give the guy GBP50m to develop the squad unless you fully back him.

Anyway Hicks wanting to sell his shares to Mill Financial is beyond desperation on his part. I really hope that all this subterfuge is tied to getting rid of Hicks (you cant say you are going to sack the manager if you dont own the club, I guess.) But I would trust a Singaporean more than Yank, particularly as I am concerned that Mill Financial best strategy is to sue NESV in the US courts.