Liverpool FC Forum

by **devaney** » Sat Sep 04, 2010 1:52 pm

NANNY RED wrote:i cant believe nothing is happening with these two the refinancing is up next month

I have a hunch that the bank is going to screw these two over and create a last minute low price fire sale! I FKG WISH !!!!!!!

by **maguskwt** » Sat Sep 04, 2010 2:00 pm

devaney wrote:
NANNY RED wrote:i cant believe nothing is happening with these two the refinancing is up next month

I have a hunch that the bank is going to screw these two over and create a last minute low price fire sale! I FKG WISH !!!!!!!

and Sheikh Mo will come in buy the club and build a stadium and give Roy 100 million to buy players...Feck the Chinese and the Syrians... let's hope!

by **boodiddy1** » Sun Sep 05, 2010 1:17 am

LIVERPOOL will avoid a nine-point penalty if they fall under bank ownership next month.

The Premier League will approve an Anfield takeover by the Royal Bank of Scotland if co-owners Tom Hicks and George Gillet don't find a buyer or repay their debt by October 6.

The RBS has had power to seize the club before but there were concerns about league sanctions. Fans feared that if the Americans defaulted on their loans the club would be plunged into administration, leading to a nine-point deduction.

And that would almost certainly end their hopes of qualifying for the Champions League with devastating consequences for the club.

But clarification that a bank takeover is within Premier League rules is of huge significance. It means the league recognises the distinction between the owners' debts and the club's debt.

The Americans face catastrophic financial losses in the region of £300m if they miss the October deadline.

Hicks and Gillett still owe their 'acquisition debt' - currently £282.4m - which they used to buy Liverpool in 2007 as part of the company they created called Kop Football.

But that company exists independently from profit-making Liverpool Football Club and Athletics Grounds Limited, whose accounts are sent to the Premier League.

If the bank takes over, the owners' existing debts will be wiped out but they would lose the club without receiving a penny.

An RBS takeover will enable the bank to deal directly with buyers from next month and sell the club for a reasonable price.

The Kop is now braced for one of the most important months in its history.

Hicks and Gillett desperately want more time from the bank, but Managing Director Christian Purslow, Commercial Director Ian Ayre and Chairman Martin Broughton have urged RBS to refuse another stay of execution.

The bank, club and Premier League still hope a last-minute takeover will prevent the need for bank intervention.

RBS wanted the club sold by last Tuesday and imposed strict penalties on Hicks and Gillett to force a sale. A final charge of £7.5m was made on August 31, after earlier penalties of £5m on July 15 and £7.5m on August 15.

But there is no immediate incentive for buyers now the transfer window has shut and the refinance deadline looms.

A few months ago Hicks' boldly valued Liverpool 'between £600m-£800m', though sources close to the owners dispute any such valuation.

The owners tried to refinance in June using the club's assets but were blocked by the rest of the board. Securing new loans against their US assets is another avenue they're pursuing.

But if Hicks and Gillett are unable to raise funds, they're faced with a startling choice. They could accept a minimal profit if a bid materialises or lose the club for nothing.

But a source close to the sale process warned: "This is a little like one of those horror movies. Just when you think the monster has been killed in the final scene, he somehow gets back up again."

I know its Bascombe and he talks :censored:

most of the time, but, its only like Lakes has done for almost a 1000 pages.

by **Ciggy** » Sun Sep 05, 2010 8:45 am

These kunts will take the banks to court and sue them if they take the club off them they will NOT go quietly just watch. :angry:

by **fivecups** » Sun Sep 05, 2010 9:01 am

The pressure needs to be kept on Hester and RBS from now until October 6th. He must realise there would be a back-lash if a government owned bank refinanced crippling loans for a national intstitution for short-term gain.

by **metalhead** » Sun Sep 05, 2010 9:01 am

I don't think so Ciggy, the club is a collateral, RBS has the right to take the club from them if T and T default on their loans.

They can't do shyte now

by **LiverpoolMadman** » Sun Sep 05, 2010 9:12 am

metalhead wrote:I don't think so Ciggy, the club is a collateral, RBS has the right to take the club from them if T and T default on their loans.

They can't do shyte now

If that happen ... they will lose more money and the club lose 9 points ...

by **lakes10** » Sun Sep 05, 2010 9:12 am

There will be an outcry by the rest of the UK if RBS take control og the club and heres why, the Gov have given RBS so much money to keep them going and the rest of the UK is paying for that, and it will be seen as a waste of money saving Liverpool fc, the gov has always stated they would never back a football team from going bust, but as they owne a big part of RBS it will bee seen as they are just doing that. i can not see how they would get away with this.

new loan yes
bank take over no.

by **Ciggy** » Sun Sep 05, 2010 9:21 am

metalhead wrote:I don't think so Ciggy, the club is a collateral, RBS has the right to take the club from them if T and T default on their loans.

They can't do shyte now

I duno mate, Hicks took the Rangers to court and probably a load more companies, but people on RAWK who work in the financial section reckon they wont walk away with nothing and will fight tooth and nail with legal proceedings if they dont get a healthy profit from selling us.

Yesterdays news about LFC trademarking the Liverbird knocked me sick, how can two Americans trademark our cities emblem?

This will see the stall holders around the ground and in Liverpool town centre also nearby towns that sell LFC tat go out of buisness.

Brian Reade in yesterdays Mirror:

"If Hicks and Gillett are allowed to refinance their debt in October, the resistance being mounted against their American compatriots at Old Trafford will seem remarkably tame.

Liverpudlians will not allow their club to be strangled by these cowboys any longer.

The boil is about to be lanced at Anfield. If Martin Broughton and the RBS can’t do it, the fans will do it for them. And it won’t be pretty."

by **metalhead** » Sun Sep 05, 2010 9:43 am

The club lives in dark times, but there is still hope

by **fivecups** » Sun Sep 05, 2010 9:51 am

Ciggy wrote:Brian Reade in yesterdays Mirror:

"If Hicks and Gillett are allowed to refinance their debt in October, the resistance being mounted against their American compatriots at Old Trafford will seem remarkably tame.

Liverpudlians will not allow their club to be strangled by these cowboys any longer.

The boil is about to be lanced at Anfield. If Martin Broughton and the RBS can’t do it, the fans will do it for them. And it won’t be pretty."

F'uckin' right Brian Reade. Listen to him Hester!

And Lakes -that makes no sense. If RBS state the 'owners' have defaulted on their interest payments, then RBS have the right to seize the property. In doing so they will make clear that they want it sold as quickly as possible to recoup the outstanding debts for the good of the bank. At this point, it will be very important that Liverpool supporters, via SOS, make it clear that they must sell the club ethically to people looking for long-term sustainable profit. Why would anyone complain about that?

by **Reg** » Sun Sep 05, 2010 1:29 pm

What are the fans going to do? Have I missed something? What are we going to do then we arent doing now?

by **shabelle50** » Sun Sep 05, 2010 2:54 pm

I dont know that much about companies etc. and the law but the loan H&G acquired to buy Liverpool must have been secured on their business assets in America/Canada. Therefore if the loan is now to be repaid in full surely that has to fall on H&G. If as ther reports seem to suggest the debt is to be written out of Liverpool's books why the need for the club to enter RBS's debt restructuring scheme? Surely the club can just to return to its normal accounting books which I understand before the H&G takeover was £30-£50 million? That would surely be manageable in the future. The issue is though if there is no £200 million debt at the club what happens to the stake in the club owned by H&G? Perhaps someone can enlighten me on this?

by **In and Out** » Sun Sep 05, 2010 3:01 pm

lakes10 wrote:There will be an outcry by the rest of the UK if RBS take control og the club and heres why, the Gov have given RBS so much money to keep them going and the rest of the UK is paying for that, and it will be seen as a waste of money saving Liverpool fc, the gov has always stated they would never back a football team from going bust, but as they owne a big part of RBS it will bee seen as they are just doing that. i can not see how they would get away with this.

new loan yes
bank take over no.

Boll9x IMHO

by **In and Out** » Sun Sep 05, 2010 3:05 pm

And Lakes -that makes no sense. If RBS state the 'owners' have defaulted on their interest payments, then RBS have the right to seize the property. In doing so they will make clear that they want it sold as quickly as possible to recoup the outstanding debts for the good of the bank. At this point, it will be very important that Liverpool supporters, via SOS, make it clear that they must sell the club ethically to people looking for long-term sustainable profit. Why would anyone complain about that?

Exactly-he's just trying to play devil's advocate.

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