Liverpool FC Forum

by **Dundalk** » Thu Sep 16, 2010 11:26 pm

FFS!

Will he ever just feck off

by **Reg** » Thu Sep 16, 2010 11:35 pm

Tom Hicks aims to refinance debts in an effort to remain in control at Liverpool

Liverpool co-owner Tom Hicks is attempting to refinance the club’s debts of £237 million with Royal Bank of Scotland in an effort to remain in control at Anfield.

By Paul Kelso Daily Telegraph 16 Sep 2010

Deeper in the red: Tom Hicks is considering raising fresh finance to buy out the RBS debt

Hicks met with Liverpool chairman Martin Broughton in London on Wednesday and is understood to have told him that raising fresh finance to buy out the RBS debt is one of a number of options he is considering ahead of the Oct 6 refinancing deadline set by the bank.

Hicks’s discussions with Broughton took place with co-owner George Gillett in talks with an American lender intended to protect his 50 per cent stake in the club, which could be vulnerable if he fails to renegotiate a $75 million loan secured against the shares in 2008.

Gillett secured the loan from funders Mill Financial in 2008 to help him meet personal guarantees demanded by RBS in a previous round of refinancing, putting up his shares in the club as collateral.

Mill Financial called in the loan this summer and Gillett could technically be in default if he takes no action in the short-term, but sources with knowledge of the situation said on Thursday night that he was in talks to extend the loan and remains in control of his shares. He is also understood to be working closely with Hicks on the refinancing options that would allow them both to remain in control.

While Hicks is not thought to have met with RBS during his UK visit the bank is considering extending its financing to the American’s in order to provide Broughton with more time to secure a buyer for the club.

Bank sources have told Telegraph Sport that taking control at Anfield is their least-favoured option, and that they will consider extending the current financing arrangement if required.

Were Hicks to be successful in raising the money to buy out RBS, Broughton and his colleagues on the club board would have to decide whether to attempt to block the deal.

Broughton, managing director Christian Purslow and commercial director Ian Ayre blocked the American’s last attempt to refinance in June. They did so only having taken legal advice from Slaughter & May that they were able to do so.

Company law requires directors to act in the best interests of the shareholders - in this case Hicks and Gillett - but in some circumstances they can over-ride those concerns if it is deemed to be in the company’s interests.

If Hicks returns with a refinancing deal before Oct 6 they will face the same choice. Broughton is understood to have told Hicks on Wednesday that the board remain open-minded and will listen to any proposal he places before it.

Broughton, who was appointed in April as a condition of RBS extending the financing to the Americans for six months, has made it clear that he considers the sale of the club to an owner who removes the club’s debt and allows investment in a new stadium to be the best deal for Liverpool’s future.

The absence of any buyers willing to meet Hicks’ and Gillett’s valuation has placed RBS in a deeply uncomfortable position, and despite pressure from supporters there appears to be little appetite within the bank to force the American’s into default.

While RBS has moved the loans to its “bad bank”, the global restructuring group, Hicks has consistently maintained that Liverpool is a growing and increasingly profitable company rather than a distressed asset.

His pursuit of a potential refinancing deal indicates his determination to remain involved and recognise value from the club.

by **Thommo's perm** » Thu Sep 16, 2010 11:45 pm

I am sticking pins in a doll as we speak...

by **red till i die!!** » Fri Sep 17, 2010 12:26 am

we will never be rid of these vermin untill somebody lines there pockets.
i cant really see an end to this anytime soon as rbs will extend the loan to keep it on their books,probably till next summer so broughton can try to conjure up a buyer.
its a fcukin merrygoround:angry: :angry:

by **Fauxy** » Fri Sep 17, 2010 12:31 am

If we all chip in and give him enough money, we might be able to get Kyriakos to smother them both in their sleep.

by **The Raven** » Fri Sep 17, 2010 8:58 am

I see i failed to make the magic 1000,

Well thats is then, this :censored:

gets another loan then things have to move to a harder stance.

Im not going to games, refuse to buy a shirt or anything from the club until they are gone next i will travel the 6 hours to liverpool to take part in demos. Not sure what else i can do apart from take them both out myself. Even they their swearing devil sporn would own uss

UGH

by **kalos** » Fri Sep 17, 2010 11:08 am

BEFORE they refinance is the time (i.e,. NOW) to boycott matches. Two weeks of that and they will be up the creek totally and utterly - LFC will survive, they will not.
Sponsors will be shi--ing themselves

The financiers/RBS will also have kak pants

Time to play hardball.

by **metalhead** » Fri Sep 17, 2010 12:00 pm

We are.. and truly f*cked

by **Benny The Noon** » Fri Sep 17, 2010 12:11 pm

metalhead wrote:We are.. and truly f*cked

Its not good is it - if Hicks manages to do this then the only way is down - we have seen what has happened to his sports teams in the US . I cant believe any bank or Investment group can even think about loaning him money

by **Kopite25** » Fri Sep 17, 2010 12:22 pm

Just a thought but should Hicks manage to wranggle full control of the club, then surely this would be classed as under 'NEW' ownership which would mean he would have to under go the new fit and proper owners test which with what's happenend here so far and with Corinthians & his US sports teams would surely mean he'd fail the test.

Anyone know who to email at the FA to confirm he would have to under go the test again?

Clutching at straws maybe but all i've got left

by **tubby** » Fri Sep 17, 2010 12:42 pm

I can't believe after all these supposed bidders we are going to end up with Hicks in total control. Broughton and Purslow can fk off now, what have they even been doing all this time? :angry:

by **Reg** » Fri Sep 17, 2010 1:23 pm

I trust Broughton. :;):

by **tubby** » Fri Sep 17, 2010 2:47 pm

Even if it ends up as Hicks in total control mate?

by **Reg** » Fri Sep 17, 2010 3:04 pm

I trust him because I dont think he will allow Hicks to take control, he will do what is good for LFC and not Hicks.

Hicks taking over is clearly BAD BUSINESS for Liverpool.

If Broughton is effectively an administrator appointed by BarCap/RBS to FIND A BUYER then he will treat Hicks' ploy as one option but still might decide its not in the best interests of the club.

Broughton needs to show Hicks he is a bigger tw@t than he is and sell the club from under his nose.

Hicks owning 100% is unthinkable, we'd be creamcrackered and anyone with half a brain realises that.

by **LiverpoolMadman** » Fri Sep 17, 2010 3:41 pm

Reg wrote:I trust him because I dont think he will allow Hicks to take control, he will do what is good for LFC and not Hicks.

Hicks taking over is clearly BAD BUSINESS for Liverpool.

If Broughton is effectively an administrator appointed by BarCap/RBS to FIND A BUYER then he will treat Hicks' ploy as one option but still might decide its not in the best interests of the club.

Broughton needs to show Hicks he is a bigger tw@t than he is and sell the club from under his nose.

Hicks owning 100% is unthinkable, we'd be creamcrackered and anyone with half a brain realises that.

His boss is Hicks ... if not he might end up like Rafa ...

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