Liverpool FC Forum

Kukilon wrote:You guys forget that Hicks could bring enough money to pay off the loan. Don't think it's likely though.

devaney wrote:

Kukilon wrote:You guys forget that Hicks could bring enough money to pay off the loan. Don't think it's likely though.

He has got to demonstrate that it is his own money and not more borrowings to satisfy the board.

SouthCoastShankly wrote:Not really, that's what the court will be deciding today. He may CLAIM he has sacked the board but whether the high court agrees is another thing.

NANNY RED wrote:just read this on another forum . very intersesting read and makes perfect sence of why the fat bast.ard is going to court ,



Just had a chat with a mate of mine who's a corporate barrister, he's had a look through the detail and reckons that Hicks doesn't have a leg to stand on with the attempt to stop the sale going through but in his view it is his next move that could be the interesting one.

Basically Hicks will lose the case next week and as has been suggested we will be owned by NESV by Friday of next week but Hicks is fully aware of this and his next move is the one he has been likely planning all along.

He most likely will attempt to sue the existing board and possibly the club for undervaluing the club and selling for way below what he believes will be the true value of he club thus causing him to incur the loss of the £140m that he and Gillett put up in guarantees against the loans and are supposedly owed by the club to Kop Cayman. This is the reason Hicks is having to make such a song and a dance about it now and has to go to court with it as it will help him build up his case for later.

So while a week tomorrow we will almost certainly be rid of the , it may not be the last we will hear of them.

   hmmm

this is gonna go on for a while.

Ciggy wrote:

SouthCoastShankly wrote:Not really, that's what the court will be deciding today. He may CLAIM he has sacked the board but whether the high court agrees is another thing.

Hes said hes sacked the board, his lawyers have said hes sacked the board, Broughton hasnt put his signiture on the document to have Mack Hicks & Lori Leverage buyout MKII onto the board.

As it stands at this momment in time Broughton/Hicks/Gillett or Mill Finance are the only board members.

The High Court hearing is next week not today btw.

Ayers & Purslow will now sue for unfair dismissal I should think?

Redman in wales wrote:

NANNY RED wrote:just read this on another forum . very intersesting read and makes perfect sence of why the fat bast.ard is going to court ,



Just had a chat with a mate of mine who's a corporate barrister, he's had a look through the detail and reckons that Hicks doesn't have a leg to stand on with the attempt to stop the sale going through but in his view it is his next move that could be the interesting one.

Basically Hicks will lose the case next week and as has been suggested we will be owned by NESV by Friday of next week but Hicks is fully aware of this and his next move is the one he has been likely planning all along.

He most likely will attempt to sue the existing board and possibly the club for undervaluing the club and selling for way below what he believes will be the true value of he club thus causing him to incur the loss of the £140m that he and Gillett put up in guarantees against the loans and are supposedly owed by the club to Kop Cayman. This is the reason Hicks is having to make such a song and a dance about it now and has to go to court with it as it will help him build up his case for later.

So while a week tomorrow we will almost certainly be rid of the , it may not be the last we will hear of them.

   hmmm

this is gonna go on for a while.

Ciggy wrote:

SouthCoastShankly wrote:Not really, that's what the court will be deciding today. He may CLAIM he has sacked the board but whether the high court agrees is another thing.

Hes said hes sacked the board, his lawyers have said hes sacked the board, Broughton hasnt put his signiture on the document to have Mack Hicks & Lori Leverage buyout MKII onto the board.

As it stands at this momment in time Broughton/Hicks/Gillett or Mill Finance are the only board members.

The High Court hearing is next week not today btw.

Ayers & Purslow will now sue for unfair dismissal I should think?

And when it comes to next week Cigg therell be loads of us there ha ha , They let so many into the public gallery. people que up outside and wait to get in , Im gonna be an arl respectable nan mouth shut in that que , I might even take me knotting needles with me, be like Betty off emerdale   

jacdaniel wrote:Not sure whether this was posted already... but i like the sound of it.  Seems like Broughton put some thought and effort into this at least.

Liverpool chairman Martin Broughton has aimed a swipe at Manchester City, saying his club's prospective new owners will provide a profitable future at Anfield.

The Reds have agreed in principle to sell the club to New England Sports Ventures, but co-owners Tom Hicks and George Gillett are trying to block the deal.

The takeover battle is set to be resolved in the High Court next week with Liverpool hopeful a deal with NESV, who also own the Boston Red Sox, will be pushed through.

Broughton believes prospective new owner John Henry will provide 'rational' leadership at Liverpool and that the club will be in position for the new Uefa fair play regulations, which are set to come into effect in 2012.

"A hugely important aspect for Liverpool is [Uefa's] financial fair play rules. They come into effect pretty damn soon, and will have a massive effect on many, many clubs," Broughton said.

"Taking a rational, commercial approach to success is absolutely the right way forward, and that is what New England will do. They have demonstrated that already in their model at Boston.

Wage bill
"I couldn't help notice that Manchester City's wage bill for last year was exceeding its revenue. That is going to be very difficult under financial fair play. They might be able to sort it out before then but we were not looking for someone who was going to put us in that position.

"We were looking for somebody who was going to see this as a commercial business that can be commercially successful. That is what they have already demonstrated. They have made a profit by investing heavily in players and stadium development and they have delivered a winning team."

Broughton insists NESV's approach is the right one for the future and that funds will be made available to bolster the playing ranks.


Balance
Broughton added: "We weren't looking for an Abramovich or Sheikh Mansour, because we understand a rational commercial approach is the way forward in football now.

"New England's bid of around £300m will include £200m in equity to write down the acquisition debt, as we call it, the legacy of Hicks and Gillett, and there is £40m of cash to pay off various other liabilities.

"The balance is what we call assuming the ongoing working capital debt and the new stadium financing debt, and it means there will be no debt on the club, and Liverpool will actually be equity rich. The aim was always zero debt.

"Why? Because that will allow trading without debt, and vast profits coming available again to invest in the business instead of servicing loans. New England are fully committed to that, they are committed to investing heavily in players and infrastructure to boost future profits."