Liverpool FC Forum

by **tubby** » Thu May 15, 2008 1:25 pm

This is dragging on forever. I wish it was sorted already so we can hurry up and start signing players.

by **Igor Zidane** » Thu May 15, 2008 1:27 pm

Statement from SOS , Ripped from RAWK.

The Economic Consequences of Mr Hicks

“We’re in the most difficult credit crunch I’ve seen in twenty years.”

http://www.dallasnews.com/sharedc....bf.html

See that chink of light? That’s the sign of reality cracking though the head Cowboy’s veneer of spin and nonsense. Mr Hicks knows a great deal about credit. It’s how he works, how he has always worked – five minutes on google would have made this clear to the purveyors of the finest family silver – and credit (subsequently paid off by the acquired asset, no matter how much, in the case of LFC, he insinuates the contrary on Sky Sports News) is how he will always work.

But credit isn’t working for him at the moment, on either side of the Atlantic. The Hicks banking roadshow has rattled its way across the world looking for a deal for George Gillett’s half and to finance the new stadium. It has found nothing. Now, for his project at home, he also cannot convince the banks and he’s under half as much pressure from that side of the Atlantic, as well looking for half as much money to invest.

We’ve got to keep that pressure up. Every word against Hicks, every act, makes every meeting where he’s asking for money just that tiniest bit harder. It chips away. Those who run banking institutions may not care about you but they do care about getting their money back and know the core “customer” stands against Hicks and his plans for the “product”. That “product” would be significantly weakened by Hicks, let no one make any mistake about that. His borrowing magic trick to keep the football club competitive while building the stadium and paying off debt incurred in buying the football club would be very tricky at the best of times. In the most difficult credit crunch in twenty years, it’s approaching impossible.

Let’s keep the message going out. Hicks should sell and he should sell now. We don’t want him and he isn’t able to do the job.

No money, no credibility, no honesty, no integrity, no dignity, no custodian. HICKS OUT...

Spirit Of Shankly

by **account deleted by request** » Thu May 15, 2008 1:39 pm

No money, no credibility, no honesty, no integrity, no dignity, no custodian. HICKS OUT...

Spot on that

by **GRAHAM01** » Thu May 15, 2008 1:41 pm

by **Igor Zidane** » Thu May 15, 2008 2:00 pm

Just got this of rawk aswell . It's just to give you an indication of the fine line that we are treading here. If the mancs have one bad season ,they are basically fecked.

IMO banks will be looking at how the glaziers are getting on a utd before they would think of giving a big loan to hicks and IMO this will want them to tell hicks to sell to DIC .

This week it was revealed that the club suffered a £58 million loss last year and now owe a total of £764 million to their various creditors. The accounts for the year ending in June 2007 also disclosed that United owe £56 million in outstanding transfer fee instalments to other clubs.

Most worrying for the Glazers is the news that they still owe £152 million to hedge funds at a rate of interest of 14.25 percent.

United fans must contend with the news that the Glazers only paid off £42 million of the £81 million in interest due on their debts last year.

Poster, Rocco.

by **lakes10** » Thu May 15, 2008 4:29 pm

s@int wrote:
NANNY RED wrote:Fat greedy Bas.tard

Bit harsh on Lakes that Nanny

lol

by **The Manhattan Project** » Thu May 15, 2008 4:32 pm

He can't even afford to fund the Gloryhole Stadium, and he still won't sell FC Liverpool Reds Soccer Squad?

by **account deleted by request** » Thu May 15, 2008 4:36 pm

The Manhattan Project wrote:He can't even afford to fund the Gloryhole Stadium, and he still won't sell FC Liverpool Reds Soccer Squad?

My worry is he may be able to afford the Gloryhole Stadium...... once he has sold the Liverpool soccer squad.

by **The Manhattan Project** » Thu May 15, 2008 4:43 pm

Hicks has an interesting financial approach.

He will glady borrow millions to buy a club, build a new stadium, and then fund the purchase of players.

But then he has to sell the club, stadium, and players to cover the cost of buying the club, building the stadium, and funding the purchase of players.

It's what Karl Marx referred to as the "Ridsdalian Model" of economics.

by **NANNY RED** » Thu May 15, 2008 7:08 pm

s@int wrote:
NANNY RED wrote:Fat greedy Bas.tard

Bit harsh on Lakes that Nanny

What i cant get me head around though is all the talk about building the new stadium and when its gonna start and all the talk regarding finance is coming from that fat :censored:

.

He only owns 50/% Surely Gillette can put a block on anything he tries to do.

See this is where the fat Shi/t is lying again whats he gonna do build the new stadium with his own money. Not a :censored:

chance.

Anyway if hes still here when the digging starts, the builders should be asked to down tools until he sells up imo . cause id sooner have him out than a new stadium anyday.

by **The Manhattan Project** » Thu May 15, 2008 7:15 pm

"H+G and DIC" sounds like code for some kind of sex act.

by **NANNY RED** » Thu May 15, 2008 8:37 pm

Just been readin the echo most of this story has been posted already regardin the park thingy but im more interested in the end financial experts comments on interest rates here

Liverpool FC co-owner Tom Hicks hit by credit crunch blow
May 15 2008 by Tony Barrett, Liverpool Echo

LIVERPOOL co-owner Tom Hicks was forced to abandon plans for a multi million dollar development in Dallas because of the credit crunch - sparking major concerns over his finances and ambitions for Anfield.

Hicks had been planning to build "Glorypark", a mixed used development in Dallas featuring retail, residential and office space due to open in March 2010 at a cost of £257m.

But early today the Texan released a statement confirming fears that his ambitious plans are not sustainable in the current market.

The move will inevitably increase fears that Hicks will not be able to put the funding in place to build a new stadium on Stanley Park for Liverpool, particularly with the UK currently enduring increasingly tough economic conditions which Bank of England chief Mervyn King has admitted could even turn into a recession.

Official Liverpool Supporters Club secretary Les Lawson told the ECHO today's developments will be of concern to all Reds fans.

He said: "When Hicks took over at Anfield he said a spade would go into the ground at Stanley Park within 60 days – 18 months on we are still waiting.

"Today's news from Dallas only adds to our concerns because if he can't afford to finance a cheaper development in the USA how could he afford to build a stadium here?

"It's not just the new stadium that is so worrying either. What about Rafa Benitez's transfer plans? How can they be funded?

"If the Americans can't finance the club and what it needs to get back to the top they should make way for someone who can."

Hicks explained the abandonment of his plans – which had already been delayed on two previous occasions – by telling the Dallas Morning News that: "We're in the most difficult credit crunch I've seen in the last 20 years."

He also released a statement saying: "Financing and construction of a proposed mixed use development between Rangers Ballpark and the new Cowboys stadium in Arlington has been put on hold because of 'extreme conditions' in the country's financial and retail markets."

Hicks added: "We have put an enormous amount of time and money into Glorypark. In the end, the dream can't become reality without the right financial package.

"We will pursue alternative funding options.

"When my family purchased the Rangers, we pledged to invest in a development around the Ballpark. We are committed to doing that, but we may have to re-examine what should be built and can be built if market conditions continue."

At the weekend, and despite his ongoing civil war with co-owner George Gillett, Hicks insisted work on Liverpool's new £300m stadium will get under way this autumn. But one leading city source told the ECHO this now seems highly unlikely.

He said: "If anything, it is now harder to get this kind of project off the ground in this country than it would be in the USA.

"For a start, interest rates in the UK are currently double what they are in the USA – they stand at 2.5% there compared to 5% here.

"That makes borrowing money much more expensive on this side of the Atlantic, particularly for large scale capital projects such as building a new stadium.

"Also, lenders are asking borrowers to put down substantially more in terms of equity than they were a year ago. That is one of the main reasons why borrowing has become more difficult.

"Finally, you also have to factor in the rising price of commodities which will inevitably have an impact on the cost of a new stadium."

A London based spokesman for Hicks today said of the situation at Anfield: “The stadium proceeds to plan.”

by **Reg** » Thu May 15, 2008 9:00 pm

NANNY RED wrote:"Finally, you also have to factor in the rising price of commodities which will inevitably have an impact on the cost of a new stadium."

WHY? They´re not gonna build it out of friggín Weetabix are they ? :wwww

by **The Manhattan Project** » Thu May 15, 2008 9:05 pm

Make it entirely out of GOLD!!!!!!!

by **NANNY RED** » Thu May 15, 2008 11:27 pm

listen i know im gettin old and maybe im goin senile now and i know this doesnt belong in here , but wasnt there a thread before about Newkit community or something , well for the life of me i cant see it anywhere on the board. i only wanted a nosy but i cant find it.

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