Liverpool FC Forum

by **dundreamin** » Fri Jul 16, 2010 5:58 pm

Oh! Benny i,am so sorry, did i upset your friend? I apologise, NOT!!

by **lakes10** » Sat Jul 17, 2010 10:23 am

seeing on other forums that they are say there are two offers on the table for the club.

do any of you have any info on this as i have nothing?

by **Ben Patrick** » Sat Jul 17, 2010 10:25 am

lakes10 wrote:seeing on other forums that they are say there are two offers on the table for the club.

do any of you have any info on this as i have nothing?

I am actually excited if lakes has no info

by **lakes10** » Sat Jul 17, 2010 10:34 am

Ben Patrick wrote:
lakes10 wrote:seeing on other forums that they are say there are two offers on the table for the club.

do any of you have any info on this as i have nothing?

I am actually excited if lakes has no info

dont take the :censored:

, i feel very cut off, all my firmds are on holiday and I have had no net for about 2 weeks lol.)

ok take the :censored:

by **NANNY RED** » Sat Jul 17, 2010 11:15 am

Dont start again Lakes . Ive said the last few days there is some crackin fairy tales on the Disney Channel.

by **tubby** » Sat Jul 17, 2010 12:00 pm

To be honest lakes there may well be 2 bids on the table. Broughton did say at the Hodgsen press conferene that the first round of bidding would start mid July.

by **metalhead** » Sat Jul 17, 2010 12:57 pm

NANNY RED wrote:Dont start again Lakes . Ive said the last few days there is some crackin fairy tales on the Disney Channel.

Cinderella is on

by **NANNY RED** » Sat Jul 17, 2010 10:18 pm

Funny in it how the yanks are not supposed to have anthing to do with us anymore ,and yet the little sh.itehouse Gillette was at the postponed game tonight

by **NANNY RED** » Sat Jul 17, 2010 10:53 pm

This site is up and running now get joining

http://www.savelfc.org/

by **tubby** » Sun Jul 18, 2010 4:08 pm

Look who else was in Austria yesterday...

http://propaganda.photoshelter.com/gallery....KJkqzNg

http://propaganda.photoshelter.com/gallery....fVfDeuM

by **NANNY RED** » Sun Jul 18, 2010 6:47 pm

bavlondon wrote:Look who else was in Austria yesterday...

http://propaganda.photoshelter.com/gallery....KJkqzNg

http://propaganda.photoshelter.com/gallery....fVfDeuM

Bav thats who i was talking about :laugh:

who else did you think i was going on about.

He looks rough there , state of his shoes :laugh:

by **tubby** » Sun Jul 18, 2010 6:58 pm

Sorry didn't see your post above. I was in and out.

by **bunglemark2** » Sun Jul 18, 2010 8:31 pm

I've been away for a week. I take it there is absolutely ZERO progress on a new owner(s) ??

by **Dundalk** » Sun Jul 18, 2010 8:50 pm

NANNY RED wrote:This site is up and running now get joining

http://www.savelfc.org/

Joined

by **Penguins** » Mon Jul 19, 2010 1:07 pm

The kind of man our nice owner Tom Hicks is:

Texas Rangers' bankruptcy needs to be done right, without Hicks' side deals
Posted Saturday, Jul. 17, 2010

Topics: Sports, American League West, Bankruptcies

By MITCHELL SCHNURMAN

mschnurman@star-telegram.com

If the Texas Rangers' bankruptcy were a sports team, I'd say blow it up and start over.

In the sports world, that's the vernacular for dumping veterans and rebuilding with trades and minor leaguers. In this Chapter 11 reorganization case, the equivalent is auctioning the team again -- and doing it right this time.

Late Thursday, lenders asked Judge D. Michael Lynn to change his auction instructions, because an early August deadline won't give new bidders time to arrange financing. Lynn scheduled an emergency hearing for Tuesday, and there's good reason to grant an extension: It's the best way to get a fair price for the team and maybe attract prospects like Mavericks owner Mark Cuban.

That means more money for creditors, who believe they would still face losses of $100 million-plus, even after Hicks Sports Group unloads the Dallas Stars as well. A genuine auction would also ensure the integrity of a legal process that Tom Hicks tainted months ago, a stench that continues to hang over the proceedings.

And don't buy into fears of dooming a pennant race in Arlington. Last month, while the Rangers were playing their best baseball ever, prospective owner Chuck Greenberg fretted that "Rome is burning" while the team was waiting on the judge. Then the Rangers outmaneuvered the Yankees for ace Cliff Lee, prompting Sports Illustrated to declare that the division crown is all but sewn up -- not to mention a top draw worth millions in extra revenue.

No need to rush now, as the lenders say, because the team is not a melting ice cube.

Let's not lose perspective: This is not a failing franchise; it's a franchise with a failing owner. And believe it or not, some things are more important than baseball, even for long-suffering Rangers fans.

I'm not suggesting that Hicks be tarred and feathered and sent to debtors prison. He's entitled to the same legal relief as anyone who gets in over his head.

But in bankruptcy, it's a travesty to see a rich guy cut side deals at the expense of creditors and then make a bunch of midnight maneuvers to protect himself. Haven't we seen enough executives gamble with other people's money, bring down their companies -- even the economy -- and somehow maintain their status on Forbes' richest list?

Hicks tarnished the Rangers, embarrassed Major League Baseball and stiffed lenders. Yet this bankruptcy plan would allow him to walk into the sunset with a coronation and golden parachute. That's reason enough for Judge Lynn to order a do-over.

In the proposed sale to the Greenberg-Nolan Ryan group, Hicks agreed to sell the parking lots around Rangers Ballpark in Arlington. Because the land wasn't pledged as collateral on his sports loans, Hicks gets a payout: the equivalent of $70 million in cash, notes and forgiven debt on the office building that overlooks center field. Hicks also gets a 1 percent stake in the team, season tickets and the title of chairman emeritus.

When the Rangers filed for bankruptcy protection in late May, Greenberg went on and on about the parking lots, saying the Rangers couldn't be a pro team without them. In hindsight, he was protesting too much.

Lenders believe that the Greenberg-Ryan group got the nod over higher bidders last winter, not just because they were good baseball guys -- they've been great at that -- but because they cut a sweetheart deal with Hicks.

Hicks has a high appraisal on the land, but restrictions seriously affect its value. The area must accommodate up to 9,000 parking spaces for baseball, and if a shopping mall is built there, for instance, parking structures have to be added.

With those limitations, some prospective bidders value the land at less than $10 million, I'm told.

Lenders, owed $576 million, believe that difference should be theirs, and they plan to go after it. Except that the sale contract was amended the weekend before the bankruptcy filing, making the baseball team liable for legal fees and expenses if the land deal is challenged.

So if lenders sue Hicks for the money, the Rangers would pay the costs, which would come out of the lenders' recovery. If the arrangement holds, a legal pursuit is a lose-lose proposition.

Just before the filing, the proposed sale was also amended to increase the breakup fee to Greenberg to $10 million; to assign an above-market aircraft lease to the team (later removed in bankruptcy); and to shift $9 million in financial fees from Hicks' parent company to the Rangers.

The effect of these and other midnight moves created what the creditors called poison pills, effectively raising the costs and complexity for outside bidders in bankruptcy.

In June, the creditors said that the very objective of the bankruptcy plan was to strip away their rights. Lynn has already moved to remedy that by adding a restructuring officer and establishing an auction, as lenders sought. Even Cuban said Friday that he's interested in the team, a sign that bankruptcy and an extended auction might attract stronger candidates.

But bidders must get a fair shot. Otherwise, lenders wrote, a second auction serves as "another argument to try to whitewash and jam through" a flawed plan that aims to benefit Hicks.

"This is not a situation where two wrongs make a right; holding two flawed auctions means that no real auction has happened," the lenders wrote.

Hicks has said he cares most about the Rangers and being a good steward. If he wants the Greenberg-Ryan group to prevail -- for the benefit of the team and its fans -- he should step up and try to bridge the gap.

There's money in his parking lots and Rangers' stake, maybe enough to win over creditors before the stretch run.

But don't count on Hicks riding to the rescue. If his bankruptcy plan is any guide, he's more concerned with cutting his own deals than helping the Rangers.

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