Liverpool FC Forum

by **Reg** » Fri Sep 17, 2010 3:51 pm

Well, BarCap appointed him so I hope we is fully independant.

IF he feels a Hicks proposal is forced onto him I hope he has the courage to resign.

by **lakes10** » Fri Sep 17, 2010 4:18 pm

well i am going mad here, just had a chat with a few friends and it tirns out that the meeting at the club and in london was to do with the Hicks buy out, my friends feel that this is going to all end court now. one of them has stated that we could see the court all power to Hicks if he can front the money to buy out the club.

the board have spoken to independent lawyers and are ready to fight Hicks every step of the way to keep him from taking over the club.

by **Reg** » Fri Sep 17, 2010 4:28 pm

lakes10 wrote:the board have spoken to independent lawyers and are ready to fight Hicks every step of the way to keep him from taking over the club.

There you go, thats the key bit - Broughton, Purslow and Ayres see that Hicks is NOT the way forward and are prepared to fight.

Now then - 19 days to go and the huffing will increase in volume until 6th October when RBS in combination with Broughton will set teh stage to take us into the next period.

Hicks is fighting like a tw@t because he realises he's sinking. If Broughton goes for a private consortium + fan participation to creat a new model of ownership and ensure we have stability then Hicks is royally fcuked. Hicks needs the Rich Arab, not Richy from Aintree.

by **lakes10** » Fri Sep 17, 2010 4:31 pm

for once Reg i dont even care if we are sold to B&Q as long as Hicks dont get all of us. we are going to be so fu,cked if that happens, i think we all agree on that.

by **dundreamin** » Fri Sep 17, 2010 4:47 pm

I hope the big fat texan t.wat dies,and i mean it.F.uck him he deserves it:angry: :angry:

by **Fauxy** » Fri Sep 17, 2010 4:51 pm

dundreamin wrote:I hope the big fat texan t.wat dies,and i mean it.F.uck him he deserves it:angry:

Agree'd he f.ucking deserves it after all the grief he's put so many people through.

Pathetic human being

by **Reg** » Fri Sep 17, 2010 5:23 pm

dundreamin wrote:I hope the big fat texan t.wat dies,and i mean it.F.uck him he deserves it:angry:

Yes.... I think we get your message. :laugh:

by **Ciggy** » Fri Sep 17, 2010 5:57 pm

Liverpool reject Hicks power play
By Harry Harris, Football Correspondent

September 17, 2010

Liverpool have rejected a proposed refinancing strategy from co-owner Tom Hicks that could have given the American increased control at Anfield.

Liverpool chairman Martin Broughton turned down Tom Hick's proposal.

Hicks personally delivered his proposal direct to the Liverpool board in a showdown meeting ahead of the club's Europa League tie, and was told that his plans were not acceptable.

In fact, Hicks was left in no doubt of the board's resolve to find new owners and end his turbulent reign - alongside fellow American George Gillett - at the Premier League giants.

Hicks wants to buy out the £237 million Royal Bank of Scotland debt which is threatening to end his joint ownership of the club when the facility expires on deadline of October 6. He is hoping to raise funds from US banks to raise the funds to buy out RBS, possibly using the players and stadium as collateral.

Hicks has moved to thwart the possibility of RBS temporarily taking control of Liverpool and selling it off at a rock bottom price, far less than Hicks and Gillett believed it to be worth when they originally put the club up for sale at £800 million a year ago.

The price has since plummeted and might now be worth as little as £150 million. With no creditable buyer yet in public sight, Hicks is trying desperately to retain control, if not total control, and hold out in the hope of finding someone who will pay more later.

With Gillett's finances in a parlous state, and with the possibility that he might default on other loans and ultimately lose his 50% stake in Liverpool, his partner Hicks is attempting to refinance alone and gain total control.

The Liverpool board are having none of that, believing an extension of the Hicks and Gillett ownership, even if it reverts to Hicks, would only prolong the financial misery.

Meanwhile, to ESPNsoccernet, Liverpool have refuted claims that they have sought advance funding from the Premier League from TV revenues and sponsorship payments as their financial situation is starting to alarm fiscal experts.

A fire sale of players in the January transfer window cannot be ruled out, according to ESPNsoccernet sources, but that would be one of the last resorts to shore up the ailing finances.

Under the circumstances Liverpool have already given assurances to the Premier League that they can fulfil all their fixtures for this season. A similar undertaking has been given to UEFA about the club's participation in the Europa League.

ESPNsoccernet approached Liverpool to ask: "Can the club still afford the players' huge monthly wage bill, considering the club are now in the red?"

A club spokesman said: "Liverpool FC has prudent working capital facilities that allow the Club to make proper provision for outgoings as and when they arise. These working capital facilities are totally satisfactory to both the Premier League and UEFA."

by **Thommo's perm** » Fri Sep 17, 2010 6:01 pm

The club's in the red?
Is that some kind of sick joke?

by **The Raven** » Fri Sep 17, 2010 6:14 pm

I wonder how long it will be before the normal fan wakes up

by **maypaxvobiscum** » Fri Sep 17, 2010 6:18 pm

how are the owners still alive? im surprised no one has murdered them yet.

by **Emerald Red** » Fri Sep 17, 2010 6:36 pm

The Raven wrote:I wonder how long it will be before the normal fan wakes up

Meaning?

by **NANNY RED** » Fri Sep 17, 2010 6:43 pm

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

No money needed im sure thered be loads lining up ready to do it for nothing . i would .

by **lakes10** » Fri Sep 17, 2010 7:15 pm

"A fire sale of players in the January transfer window cannot be ruled out, according to ESPNsoccernet sources, but that would be one of the last resorts to shore up the ailing finances"

take care here.
with what we hear from others very clost to the club there was always going to be a big off load of players at in the next window, Roy did not get much time to look at all the players he has and now that has been done the word is that half of the players at the club could be sold off, this is not to make money but to clear out the dead wood of players that just dont cut it at our club.

the press will make it look like we are doing to pay the bills, yes we will get money from it but the staff list needs to be cut back.

by **Ciggy** » Fri Sep 17, 2010 7:28 pm

http://www.sportingintelligence.com/2010/09/17/revealed-the-bank-that-tom-hicks-wants-to-fund-his-liverpool-bid-and-why-hell-probably-fai
l-170909/

REVEALED: The bank that Tom Hicks wants to fund his Liverpool bid (and why he’ll probably fail)

By Nick Harris

17 September 2010

Tom Hicks, the co-owner of Liverpool who is desperate to cling to ownership and control of the club despite being unwilling or unable to invest major resources in its future, is hoping he will find funding to refinance the club’s debt from the global investment firm Blackstone, and specifically its GSO Capital Partners subsidiary, sportingintelligence has learned.

GSO’s own section of the Blackstone website describes it as “one of the largest credit-oriented alternative asset managers in the world and a major participant in leveraged finance.” Hicks has worked with Blackstone before.

Hicks and his co-owner George Gillett are widely perceived to be in their dying days in control of a club they took over in February 2007 with promises of a new stadium and a bright future for the club; neither have yet materialised. It was obvious within a year that something was badly wrong. Instead, the club owes RBS Bank at least £237m (it could be as high as £280m now) and that debt is due to be repaid or refinanced in October.

Gillett is almost certainly finished at the club and has reportedly accepted as much; he is struggling to repay money he borrowed in American to part-fund his Liverpool venture.

But Hicks still believes he can find cash to refinance the RBS debt, and he hopes it will come from GSO, a scenario that will horrify supporters who want the Americans out.

From the fans’ perspective, a ray of optimism comes from the fact that Hicks would have to meet conditions to borrow from GSO that he seems unlikely to be able to meet, relating to conditions set by Liverpool’s board.

If he wants to borrow from any source to refund the debt, he will, as a matter of course, need to give some security against the new borrowed money. Sportingintelligence understands that if he attempted to offer the asset of Liverpool (the club) as security, then the board – and specifically Martin Broughton, Christian Purslow and Ian Ayre – can and will vote against such a proposal.

In other words, Hicks won’t be able to borrow any money using Liverpool as security.

But if he were able to produce another asset as security, he may indeed be able to borrow the cash and attempt a refinancing. There is no obvious other asset in his troubled portfolio of interests, although as with all things related to the saga of Liverpool’s ownership, there are bound to be more twists yet.

The board has already prevented one attempt by Gillett this summer to refinance using Liverpool as an asset.

Broughton and Purlsow insist they are committed to find the right buyer for the club, someone with money to reduce the debt and also start work on the proposed new stadium. The search for such an owner is ongoing.

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