Liverpool FC Forum

[PhiLFC]

It's all about business and nothing to do with football... Pinky & Perky will sell because its guaranteed profit one way or the other... SELL NOW YOU PAIR OF CUNTS 

[puroresu]

It's all about business and nothing to do with football... Pinky & Perky will sell because its guaranteed profit one way or the other... SELL NOW YOU PAIR OF CUNTS 

If it was as simple as that everyone would sell there assets for a profit.  They will sell when they get the profit they want.  Just cos DIC have guranteed them a profit it doesnt mean thats what they want.

[redmikey]

WORST DAY EVER!!!!!!!!!!!  LIED TO , LAUGHED AT AND NOW BEING TAKEN TO THE CLEANERS BY THESE ROBBIN YANK B@STARDS

[Leonmc0708]

Calm down people.

Any business deal will involve the first offer being turned down, its a fact. Any hard nosed businessman, (and Tom fits into that catagory) will hold out to see what he can get.

If your selling something, you advertise a price more than you will be willing to accept. If you are buying something you put in an offer lower than you are willing to pay.

Expect to be hearing a lot more about this in the next two weeks.

[neil]

meanwhile, back at the ranch......

[god_bless_john_houlding]

embarassing. what a disgraceful position this club has been in, during the last 7/8 months. think what you like about Moores, we never got the bad press as we are now. typical forigners in the football game.

[Leonmc0708]

embarassing. what a disgraceful position this club has been in, during the last 7/8 months. think what you like about Moores, we never got the bad press as we are now. typical forigners in the football game.

It was Moores who sold to the Yanks soft lad.

[Ciggy]

Expect to be hearing a lot more about this in the next two weeks.

ARRRRRRRGGGGGGGGGGGGGGHHHHHHHHHHHHH another two weeks where is the razor blade smiley.

[JBG]

Leon's right, this is business and the transaction will take weeks, not 24 hours.

Look at Birmingham if you will.................................

[Ciggy]

Liverpool takeover: Gillett in talks to sell out
By David Bond
Last Updated: 4:47pm GMT 04/03/2008

Lawyers for Liverpool co-owner George Gillett Jr are this afternoon locked in talks with representatives of Dubai International Capital (DIC) about a £200million deal to sell his 50 per cent stake in the club.

Despite reports that Gillett and his American partner Tom Hicks had rejected a take it or leave it offer worth a total of £400m to buy them both out, the Daily Telegraph has learned that negotiations are still ongoing in London this afternoon.


Although the Texan businessman has again made it clear he has no interest in selling up, Gillett is thought to be more prepared to walk away from the club. If he agrees he stands to receive £25m for his shares.

His lawyers have been trying to thrash out an agreement this afternoon in discussions led by Amanda Staveley, the former internet entrepreneur turned financier who is a senior partner at a City firm PCP, who are representing DIC on the deal.

Despite denials from a spokeswoman for DIC that a midnight deadline had been imposed on Gillett to agree the offer, sources close to the negotiations made it clear that time is running out for him to accept. Sources said they nevertheless expected the discussions to go on late into the evening.

If Gillett turns the offer down, DIC have made it clear that they will, in the short term at least, cool their interest in the club. But, having launched two campaigns to buy the club in the last two years, DIC’s Liverpool supporting chief executive Sameer Al Ansari is unlikely to give up on his long term aim of gaining control.

Hicks, however, remains a major stumbling block to DIC gaining a 50 per cent stake in Liverpool. The owner of the Dallas Stars Ice Hockey team believes he not only has first refusal on Gillett's shares but also has the power to block who he sells to.

He is determined not to relinquish his power and even if DIC do manage to buy Gillett's shares, he is unwilling to cede management control to the Arab investment company. That could force DIC to back down as they are reluctant to enter into a deal with Hicks, which could leave the club in an even more damaging stalemate than the one which has been crippling Anfield for the last three months.

   
Key player: Amanda Staveley, a senior partner at PCP Capital, represented DIC in £400m offer
DIC have made it clear they are only prepared to cover the club's £350m of debts with Royal Bank of Scotland and Wachovia if they have control of what happens on and off the pitch at Liverpool.

This morning Al Ansari broke his silence on the saga to confirm talks with the Americans had been going on and to criticise them for being in "dreamland" over their valuations of the club.

"It's no secret that we have been in discussions with the current owners," Al Ansari said.

"It's not easy because the owners are in dreamland about valuations at the moment." Alluding optimistically to the talks with Gillett, Al Ansari added that one of the club's owners "had come out of dreamland".

Al Ansari believed he had won the battle to own the club last February, before chairman David Moores and chief executive Rick Parry had a late change of heart, favouring the American bid.

"It took me two weeks to get over that," said Al Ansari. "But it didn't dent my passion and I still go to every match when I'm here (in England)."

In the event of DIC taking control at Anfield, it is believed that Al Ansari would conduct a wide-ranging review of all aspects of the club.

http://www.telegraph.co.uk/sport....504.xml

[account deleted by request]

I keep thinking we are reaching the end........... but round and round we go 

[PhiLFC]

It's all about business and nothing to do with football... Pinky & Perky will sell because its guaranteed profit one way or the other... SELL NOW YOU PAIR OF CUNTS 

If it was as simple as that everyone would sell there assets for a profit.  They will sell when they get the profit they want.  Just cos DIC have guranteed them a profit it doesnt mean thats what they want.

Read it again mate "... its all about business..."  "...they will sell one way or the other..."

I didn't say they would sell at the first offer... scum fans were just as angry as us but in the end they NEVER had a say in the proceedings... and neither have we... its business and we're out of the equation.

[Homebooby]

Hicks plots total control of Reds



He added: "There is a bit more to go but some conclusion will be reached - either Hicks will raise the money to buy out Gillett and take total control, or there will be a sale of the club. I suspect it will be another couple of months at least before it is resolved."

[metalhead]

Calm down people.

Any business deal will involve the first offer being turned down, its a fact. Any hard nosed businessman, (and Tom fits into that catagory) will hold out to see what he can get.

If your selling something, you advertise a price more than you will be willing to accept. If you are buying something you put in an offer lower than you are willing to pay.

Expect to be hearing a lot more about this in the next two weeks.

Listen to Leon, he is spot on

[ivor_the_injun]

I really don't think anything's going to happen today now. There's been an odd 12 hours or so of posturing, but essentially it's as you were.

On the plus side it's all out in the open that talks are happening, and the offer can hopefully serve as a base for those talks. I think DIC have stayed in this game long enough to see it through for a few more rounds, so there's plenty more dick-waving to come yet.

--------------------

Latest from PA incidentally, with an interesting nugget...

Liverpool DIC Nightlead

If Gillett does agree to sell, Hicks would have first call on buying his colleague's stake. But that agreement is believed to only last for 90 days from when a bid if formally received.
And Hicks claims that it is "premature" to say he has already raised the money to buy out Gillett with loans from American business colleagues.
DIC may have to accept that Hicks cannot sell at the moment because he is raising money in the States by floating his entire sports empire - Dallas Stars, Texas Rangers and Liverpool.
Liverpool is the jewel in that crown, and he needs his stake in the club to remain part of his portfolio to raise further capital.
Hicks' whole sporting empire could be put at risk if he sold his complete stake in Liverpool now.
It seems, though, that he will have to sell eventually.
The £350million re-financing deal means Liverpool will have to service £30million a year of interest, and even that deal will need renegotiating again soon.

And latest from AP - much the same with an additional quote...

Hicks, Gillett reject DIC bid to buy Liverpool
Eds: UPDATES with Hicks camp believing DIC won't buy 49 percent stake
By ROB HARRIS, Associated Press Writer
LIVERPOOL, England (AP) — Liverpool co-owners Tom Hicks and George Gillett Jr. rejected Dubai International Capital's bid for the Premier League club Tuesday, The Associated Press has learned.
The 400 million pound (US$800 million) offer for the English club was turned down, a person involved with the negotiations told the AP. He spoke on condition of anonymity because of the sensitivity of the situation.
Hicks "turned down their offer immediately upon receipt," the person said, adding the Texan is still willing to allow Gillett to sell 49 percent of his stake as long as Hicks gets the other 1 percent.
The Hicks camp doesn't believe DIC will be successful in buying the 49 percent — reflecting DIC's insistence that its bid is reliant on being the majority stake-holder.
Hicks and Gillett have the power to block the other from selling.
"They (DIC) want control but they can't get it," the person said.
Gillett, whose relationship with Hicks has reportedly broken down, believes the private-equity investment arm of the Dubai government underestimated the value of his 50 percent stake. He was "low balled," the person said.
DIC has given the Americans 24 hours to accept its offer, an executive working on the bid told the AP.
Gillett has been in close contact with DIC in recent weeks after deciding to end his troubled spell at Anfield.
Hicks, however, has said he is committed to retaining his share of Liverpool. The Texan is also looking into buying all or part of Gillett's equal stake by raising private equity.
The DIC bid emerged after chief executive Sameer al-Ansari said Monday that Hicks and Gillett had "come out of dreamland" over the worth of the Premier League club.
Hicks revealed in January that he had spoken to DIC about a "10 to 15 percent participation" but that his valuation was deemed to be too high.
Since then, however, Hicks has said he is committed to retaining his share of Liverpool and told the AP that he anticipates taking a "more active role" with the 18-time English champions.
JP Morgan Chase & Co. have been tasked with raising funds by trying to attract market interest in new shares in the Hicks Sports Group, which includes his U.S. sports franchises.
Uncertainty in the global markets prevented the investment bankers in January from attracting interest in a private placement. But they have been back at Anfield in recent weeks to update the figures to facilitate Hicks raising the funds to take sole control of the club.
Hicks and Gillett bought Liverpool for 218.9 million pounds (then US$431 million; €333 million) in March 2007. This included an agreement to pay off about 45 million pounds (then US$89 million; €68 million) of debt and a pledge to build and finance a new stadium.
Gillett and Hicks refinanced their Liverpool deal with a 350 million pound (then US$682 million; €470 million) package from two banks on Jan. 25. But the package left the club with debt of 105 million pounds (then US$205 million; €141 million).
Liverpool fans originally embraced the American owners but then turned on them after their public feud with popular manager Rafa Benitez over transfers, leading to demonstrations outside and inside Anfield.
Since peace talks were held in December, Benitez now speaks warmly about Hicks, who sends the Spaniard motivational e-mails. But captain Steven Gerrard has blamed the uncertainty off the field for the team's failure to end an 18-year wait for an English title.
The Reds trail Arsenal by 15 points and are now battling fourth-place Everton for the final Champions League berth, but they are in a good position to advance to the Champions League quarterfinals after a 2-0 victory over Inter Milan in the first leg.