Topic: Liverpool owner Hicks selling Texas Rangers shares

[PhilAnderer]

An English Sports Agent close to the parties involved told us;

"The interest in Liverpool from Qatar has been fairly long-standing. The Glayde family are one of the wealthiest in the region and it is no secret that Sheikh Unvac has been keen to conclude a deal for some time.

~Clue right there.

[Dr. Beaker]

Not the old shake n' vac joke. I was expecting snotty Qatar type jokes.

[buchigo!]

Not the old shake n' vac joke. I was expecting snotty Qatar type jokes.

Hicks and Gillett rebrand themselves and find us new sponsors.

shake and bake!

[will2003]

I know its not completely on topic but its interesting what Balague says about the owners and investment. Also the fact that no budget has been set yet. In not so many words he is almost suggesting a change is coming... straws and clutching come to mind but hey!!

http://www.guillembalague.com/rumores_desp.php?titulo=On%20Liverpool,%20Negredo%20and%20summer%20transfers&id=192

On Liverpool, Negredo and summer transfers

Quite a few of our readers have been asking about a rumour that Liverpool are lining up a move for Alvaro Negredo, the former Real Madrid reserve player currently breaking goalscoring records at Almeria.
 
However, I can tell you that this rumour has been denied by Liverpool, and despite his goal scoring rate this season, Negredo is not considered to be of the necessary quality required at Anfield. Liverpool have established a relationship with Almería at a lower level, something which may develop to include players swaps in few years time, but this relationship is still at a very early stage.
 
An even greater number of readers are asking about Liverpool´s transfer budget this summer, and those persistent rumours linking Liverpool with an array of expensive talent simply will not go away.
 
Unfortunately little has changed since we last dealt with this topic here and Liverpool´s financial resources remain the same as in previous summers. In other words, Rafa Benitez will practically have to finance whatever players he wants through sales. There is no word yet from the American owners about how much money is available (around 20 million is expected once Rafa identifies a big target, but no confirmation from either Hicks or Gillett: contrary to reports). Benitez has had an average of 18m pounds net spent since he arrived and that will more or less be the figure he will have to work with. Luckily, the spine of the team is already in place: something of a minor miracle considering the quality of that spine - and considering that he had to build it from almost nothing around Steven Gerrard.


The big difference between now and previous seasons is that it will be Rafa Benitez who decides where the money goes – and on whom – rather than the Chief executive.
That means if Xabi Alonso does end up leaving this summer, then a central midfield player will clearly be target.
 
A player in the mould of David Silva may also be on the agenda - and despite Rafa´s recent statement that the Valencia player is no longer a target, there is always the possibility that circumstances may change. As I reported here the problem with David Silva is the fee, not the footballer. In other words, his talent and what he can offer Liverpool is not in doubt, it is the asking price: a fee that could escalate significantly if Real Madrid and Barcelona engage in a bidding war for his services.
 
Again, everything very much hinges on how much money Benitez can raise from the potential sale of players like Voronin, Dossena, Babel and maybe even Benayoun – plus any change in investment put in by the club´s owners. At the time of writing, the American owners of the club have yet to confirm if any additional resources will be available. 

[The_Last_Don]

Very Interesting Article, FA looking to introduce more stringent measures to ensure clubs are more transparent and can fullfil their financial obligations:

http://www.skysports.com/story/0,19528,11661_5316145,00.html

[fry]

Pinched from TIA , no links posted sorry ;

Reports are surfacing in the middle east that Arab investment in soccers Premier League is set to continue following the Abu Dhabi United Group(ADUG) takeover of Manchester City FC.

The latest club linked to a takeover is Liverpool FC, of current 2nd standing in the season rankings, and the rumoured source of the interest is said to be an arm of the royal family in Qatar.

Adam Bogden, CEO of Dubai sports investment specialists Eastern Capital Invetsments commented;

Story continues below:

"There are strong rumours circulating right now that following the Abu Dhabi takeover at Manchester City several other of the regions prominent cash rich royal familiy's want a piece of the action. In an area that boasts several of the worlds fastest growing national economies the kind of exposure that Abu Dhabi has recieved through their link up with English Football has been exceptional and it has not gone unnoticed amongst the other big players"

When pressed about the likelihood of further investment and the potential individual sources Bogden was understandably guarded, however he did continue;

"There are several different parties looking at numerous clubs right now, not just in England but in the other european leagues also. The Liverpool deal is something we have been working on for a little while now and whilst nothing is cast in stone yet I would say that one is the most likely to go ahead but you can never be sure with such complex deals, particularly considering the instability of the world economic climate".

Other sources in Qatar have meanwhile suggested that a deal for Liverpool has in fact been completed and only legal confidentialities are behind the current denials.

An English Sports Agent close to the parties involved told us;

"The interest in Liverpool from Qatar has been fairly long-standing. The Glayde family are one of the wealthiest in the region and it is no secret that Sheikh Unvac has been keen to conclude a deal for some time. These people are exceptionally well connected and have the backing of others which would make their investment potential almost limitless. There is a fierce regional pride amongst these families and the fact that Abu Dhabi have been the first to act would never deter the Sheikh from believing he could 'trump' them. The prospect of even a $3billion investment would not deter him."

At a time when the world economy is in meltdown it appears then that football will continue to buck the trend and thrive. Several groups in England have already called for a 'Salary Cap' to be introduced in order to calm spiralling roster bills but with this latest batch of further middle-eastern investment seemingly on the horizon, it looks as though transfer-fees, player remuneration and the cost of spectator tickets might just go higher before it comes down.

pwned

[Something Else]

Very Interesting Article, FA looking to introduce more stringent measures to ensure clubs are more transparent and can fullfil their financial obligations:

http://www.skysports.com/story/0,19528,11661_5316145,00.html

cant see this happening

[HarryLabrador]

PHOENIX COYOTES
Hockey's bonfire of the bankruptcies

Coyotes win court ruling over prospective sale; Could Dallas Stars be next up for Chapter 11?
May 12, 2009 04:30 AM

Kevin McGran

While the Phoenix Coyotes turned up the heat on the NHL yesterday, the owner of the Dallas Stars appears to be laying enough kindling and timber to start another bankruptcy bonfire.

The Coyotes won a court ruling that will force the NHL to tell all it knows about White Sox owner Jerry Reinsdorf's mysterious bid to purchase the Coyotes to a Phoenix bankruptcy court judge.

The NHL must produce all documents related to Reinsdorf's bid today, ruled judge Redfield Baum.

The league has said it was close to announcing Reinsdorf as a white knight who would keep the team in Glendale, Ariz., when Jerry Moyes thrust the Coyotes into bankruptcy. The Moyes camp wants to see how good the offer was.

"The purpose of the production is to examine the content of those discussions and the potential offer outstanding by Mr. Reinsdorf related to these purported interests," read the motion filed by Moyes lawyer Thomas Salerno.

Canadian billionaire Jim Balsillie has made a $212.5 million (all figures U.S.) offer to purchase the Coyotes and move them to Hamilton as part of the franchise's bankruptcy proceedings that are being challenged by the NHL.

But Phoenix is only one of the many franchises in trouble during the recession.

Tom Hicks, who owns the Dallas Stars and baseball's Texas Rangers, defaulted a month ago on $525 million in loans tied to the teams, starting the clock ticking in a showdown with lenders that could see the Stars end up in bankruptcy proceedings in October.

At the time, Hicks said he was trying to work out a new deal with his creditors, and perhaps bring in new investors, but has been mum on the situation since. Dallas Stars president Jeff Cogen referred calls to a public relations firm, which said there was "nothing" to report.

NHL deputy commissioner Bill Daly did not respond to an email. A group of 40 financial institutions and other investors hold the debt in Hicks Sports Group, which owns the two teams. It would take 180 days for lenders to foreclose on defaulted loans, according the standard deals involving the NHL.

That gives Hicks another five months to find alternate financing, but lenders are tight with their money these days, and those who follow sports financing closely worry it's inevitable that the Stars will follow the Coyotes into bankruptcy.

"He's heading in the same direction," said a broker specializing in sports financing, who didn't want his name used because of his dealings with the NHL.

"It could be the second team in Chapter 11," said Andrew Zimbalist, an economics professor at Smith College, who specializes in sports business. "When Hicks put himself in that circumstance, he's creating a lot of difficulty for himself. He's going to squirm a little bit. Whatever leverage he had, he loses some of it.

"You go to your creditors and try to re-organize your loans," added Zimbalist. "(If) they say no deal, you can declare bankruptcy or sell the franchise or go to other banks and borrow more money."

Hicks also co-owns Liverpool, a soccer team in England's Premier League, another franchise looking for new ownership. His holdings in Liverpool – shared with Montreal Canadiens owner George Gillett –are outside Hicks Sports Group.

None involved believe the Stars are in danger of moving. Dallas is believed to be a strong market with the team able to turn a profit, especially if it makes the playoffs.

It's been a bad year for bankruptcies and the NHL. William (Boots) Del Biaggio faces jail time after having been found guilty of fraud for the way he helped finance his minority purchase of the Nashville Predators.

Meanwhile, the Atlanta Thrashers owners are fighting with each other, Tampa is looking for new investors and the New York Islanders are hinting at leaving unless they get a new arena.

"There could be other (bankrupt) teams down the road," said Zimbalist. "There are a lot of teams – as it were – skating on thin ice."

http://www.thestar.com/sports/article/632760

[No666]

He's going to squirm

 

I do hope so.


Thanks for that, Harry.

[fry]

 

I do hope so.


Thanks for that, Harry.

As do I,  I hope they take the shirt off his back. 

[Dr. Beaker]

 William (Boots) Del Biaggio faces jail time after having been found guilty of fraud for the way he helped finance his minority purchase of the Nashville Predators.

I have a dream.

[Coady]

Funny how these stories always come from TIA.

[HarryLabrador]

Could the Habs end up in the hands of the Americans?
Tue, 2009-05-12 06:37.
David Cohen

The list of reputed potential Habs buyers is down to four.

And a source close to the dealings says the Montreal Canadiens, the Bell Centre and the Gillett Entertainment Group could all be sold by mid-June.

A report says it's down to two Quebec groups -- Quebecor and Serge Savard's group of investors -- and two groups of American investors.

But George Gillett would, according to the report, like to keep the Habs in local hands.

The report says if Gillett came to a price with the Americans, he'd give the Quebec groups a chance to match the offer.

http://www.cjad.com/news/565/927338

[No666]

If true, that would put Gillett in a much stronger position than Hicks.

[will2003]

'Hicks also co-owns Liverpool, a soccer team in England's Premier League, another franchise looking for new ownership. His holdings in Liverpool – shared with Montreal Canadiens owner George Gillett –are outside Hicks Sports Group'

So looks as though we are looking to be sold!

[rafathegaffa83]

If true, that would put Gillett in a much stronger position than Hicks.

Gillett also has a franchise that local/regional investors are interested in. Hicks does not. An interesting article on Forbes.com about the valuation of MLB franchises going into the 2009 season. Hicks' Texas Rangers have the third highest debt/value ratio in the entire league. Only the two New York teams the Yankees and Mets, who incidentally have just both built new stadiums have more.

And then there are the Texas Rangers, off 2% in value to $405 million. As part of an effort to renegotiate $525 million in loans related to the Texas Rangers and Dallas Stars, Hicks Sports Group, owned by Dallas billionaire Tom Hicks, did not make a quarterly interest-only payment that was due last month. Hicks said he has been in talks with lenders, not to ask for additional funding for the teams but to restructure the debt or to possibly pay it off if he finds investors willing to buy minority stakes in either team.
Source: http://www.forbes.com/2009/04/22/yankees-mets-baseball-values-09-business-sports-intro.html
Corresponding rankings: http://www.forbes.com/lists/2009/33/baseball-values-09_The-Business-Of-Baseball_Value.html

[Sing A Song of Torres]

The outcome of what happens with the Phoenix Coyotes could have an impact on Hicks's plans for selling the Stars. If, in the face of strict NHL rules on transferring the location of a hockey team from one city to another (not to mention Maple Leaf Sports and Entertainment's enormous influence in protecting their market in southern Ontario), Balsillie successfully brings the club to Hamilton, it could open the door for Hicks to field offers for the Stars from other Canadian cities eager for their own NHL team. It seems unlikely there'd be clamoring interest from investors hoping to keep the club in Dallas. That being said, doesn't Hicks (or rather, his banks) also own the arena the Stars play in? If so, tranferring the club out of Dallas would render the arena something of a white elephant without its major tenant, and would have an impact on its book value with the banks.

[will2003]

Perhaps some of the potential UAE investors should send this guy in first, then maybe G and H might change their minds...

http://news.bbc.co.uk/1/hi/world/middle_east/8045433.stm

[No666]

Gillett also has a franchise that local/regional investors are interested in. Hicks does not. An interesting article on Forbes.com about the valuation of MLB franchises going into the 2009 season. Hicks' Texas Rangers have the third highest debt/value ratio in the entire league. Only the two New York teams the Yankees and Mets, who incidentally have just both built new stadiums have more.

How much are the Dallas Stars worth? Would give us an idea of exactly how much equity he has in the two franchises.



[/quote]

[rafathegaffa83]

If so, tranferring the club out of Dallas would render the arena something of a white elephant without its major tenant, and would have an impact on its book value with the banks.

Dallas Mavericks of the NBA play in the same arena.

How much are the Dallas Stars worth? Would give us an idea of exactly how much equity he has in the two franchises.

According to Forbes, the Dallas Stars were estimated in 2008 to be worth $273m dollars (sixth highest in the NHL). Hicks bought them for $84m almost fifteen years ago. The team is currently at its highest value since 2003, but almost a third of its value is based on the team's arena (capacity 18,532). The team's debt value (73%) is one of the highest in the NHL. An interesting comment from Forbes in regard to ticket allocation for the Stars.

Dallas continues to fill American Airlines Arena to the tune of 97% of capacity last year, but the number of paying fans is on the decline. The team gave away an average of 2,500 complimentary tickets per game last season. That was the highest number in the NHL. These freebies goose concession and parking revenues, but they erode the long-term value of tickets. Owner Tom Hicks might want to consider cutting back on the free ducats before paying customers start to revolt.
http://www.forbes.com/lists/2008/31/nhl08_Dallas-Stars_315393.html

[west_london_red]

Hey, he can let me free into Anfield if he wants....

[4H_Poker]

The outcome of what happens with the Phoenix Coyotes could have an impact on Hicks's plans for selling the Stars. If, in the face of strict NHL rules on transferring the location of a hockey team from one city to another (not to mention Maple Leaf Sports and Entertainment's enormous influence in protecting their market in southern Ontario), Balsillie successfully brings the club to Hamilton, it could open the door for Hicks to field offers for the Stars from other Canadian cities eager for their own NHL team. It seems unlikely there'd be clamoring interest from investors hoping to keep the club in Dallas. That being said, doesn't Hicks (or rather, his banks) also own the arena the Stars play in? If so, tranferring the club out of Dallas would render the arena something of a white elephant without its major tenant, and would have an impact on its book value with the banks.

I believe it is a joint partnership w/ Mark Cuban and the Mavericks .... who are probably considered the bigger tenant - plus, it is used for concert tours, etc...

[fry]

I believe it is a joint partnership w/ Mark Cuban and the Mavericks .... who are probably considered the bigger tenant - plus, it is used for concert tours, etc...

I think the main thing we need to concentrate on is that hicks is looking more and more in trouble.  Eventually i can see his world implode and his pockets drained.  It will be funny as hell when his own greed becomes his downfall.  I cannot wait for the club to be out of the Americans hands.  It pains me to see the club treated in such a capitalist way.  Success before the dollar!

[No666]

So the Sports Groups debt ratio was around 75% before the worst of the crash, then would it be fanciful to suggest it is possibly 100 per cent leveraged or in negative equity now?

[Sing A Song of Torres]

Thanks for the clarification on the arena tenancy, rafathegaffa83 and 4H_poker. I still think that Hicks's interests in the Stars (despite the Forbes valuation) have got his back to the wall no matter which way he turns - he'll be hard-pressed to find local investment and if the NHL somehow allowed him to sell the Stars to another city, it would impact on the financial viability of the arena.

More and more, it reinforces the perception of the would-be tycoon as a player who got too carried away accumulating his Monopoly property cards without enough foresight into what they were actually worth in the long-term.

[ali]

League to Gillett: quiet, please

ANDREW WILLIS

Globe and Mail Update

May 12, 2009 at 1:38 PM EDT

TORONTO — When speculation on the ownership of the Montreal Canadiens began to overshadow coverage of the team's playoff series against the Boston Bruins, NHL brass sent a message to Habs owner George Gillett.

Try to turn down the volume on speculation on who might buy the storied franchise, National Hockey League executives told Gillett, according to investment bankers working on bids for the team and its home, the Bell Centres. NHL officials didn't want business stories, including speculation on a sale to new owners from outside Quebec, diverting interest from playoff hockey.

Gillett, already upset with media reports on his personal finances, was glad to comply. Financial advisers were told to keep quiet. Lists of potential buyers for the team dropped out of the headlines, while the Canadiens dropped out of the Stanley Cup tournament, bowing out to Boston.

The NHL was less successful at keeping fans focused on hockey, as Research In Motion billionaire Jim Balsillie's pursuit of the Phoenix Coyotes now dominates Canadian coverage of the league.

However, banking sources say buyers continue to circle the Canadians, and Gillett remains committed to a timetable that could see a sale announced by the end of June, ahead of the NHL draft. The investment dealer arm of Bank of Montreal is running the auction for the 70-year-old Gillett, who refers to the process as “estate planning.”

“There is a real sense that the field is tilted towards a Quebec buyer for the Canadiens,” said one banker working with a bidder for the team.

Quebec Finance Minister Raymond Bachand said last week that the province would be willing to lend up to $100-million to a buyer, with the team expected to fetch between $400-million and $450-million.

The leading contender for the Canadiens is said to be one or all members of a group of wealthy Montreal figures that include the Saputo family, which owns the country's largest cheese maker, media kingpin Pierre Karl Péladeau, Stephen Bronfman and singer Celine Dion. Sources say a second Quebec group, fronted by former Habs general manager Serge Savard, is running a distant second.

There is also an interested consortium of bidders based in Ontario, and a possible buyer from the United States. All these bidders plan to keep the team in Montreal. The Bell Centre and the Canadiens make up one of the most profitable franchises in the NHL.

http://sports.theglobeandmail.com/servlet/story/RTGAM.20090512.wspthabs0512/GSStory/GlobeSports/home

[sarch]

not sure if this was posted but....Hicks voted second worst MLB owner
http://sportsillustrated.cnn.com/2009/baseball/mlb/05/08/mlb.owners/index.html

Purchase Price Current Value W-L          Winning % Playoffs Championships
$250M                $405M          793-827     .489             3               0
 It's hard to fault Hicks for trying, because he really is. But the stain of signing Alex Rodriguez for $252 million in 2000, then baseball's biggest deal, won't wash away. Then, trading A-Rod to the Yankees for little in return -- and agreeing to foot some of the bill -- perhaps made it even worse. Beyond that, Hicks made a number of bad signings (Chan Ho Park, Juan González and Rusty Greer, for a combined $110 million, for instance) with ridiculously high price tags to match that left Rangers fans scratching their heads. Meanwhile, Texas hasn't made the postseason in nine years and is the only franchise in baseball that hasn't won a playoff series. 

[west_london_red]

not sure if this was posted but....Hicks voted second worst MLB owner
http://sportsillustrated.cnn.com/2009/baseball/mlb/05/08/mlb.owners/index.html

What do you have to do to be a worse owner.... fuck one of the mascots?

[JRD7]

What do you have to do to be a worse owner.... fuck one of the mascots?

No mate, that owner won first prize.

[anon-y-mouse]

What do you have to do to be a worse owner.... fuck one of the mascots?

Our mascots are 7 yeaqr old kids you sick fuck.

[fry]

Our mascots are 7 yeaqr old kids you sick fuck.

I think he was reffering to the mascotts in american rounders.

[HarryLabrador]

Hicks Acquisition Company I, Inc. Announces Public Filing and Listing Information

DALLAS, May 12 /PRNewswire-FirstCall/ -- Hicks Acquisition Company I, Inc. (NYSE: TOH) (AMEX: TOH) (the "Company") today made the following announcements.

Filing of Quarterly Report on Form 10-Q

The Company has filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission for the quarter ending March 31, 2009. The Company's stockholders may obtain copies of its Quarterly Report on Form 10-Q, free of charge, at the SEC's website (www.sec.gov) or by directing a request to the Company at 100 Crescent Court, Suite 1200, Dallas, Texas 75201 or by contacting the Company at (214) 615-2300.

Going Concern Opinion

In compliance with the NYSE Amex Company Guide Rule 610(b), which requires a public announcement of the receipt of an audit opinion containing a going-concern qualification, the Company also announced today that the Company's consolidated financial statements for the fiscal year ended December 31, 2008, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission, contained a going-concern qualification from its auditors. This qualification announcement does not reflect any change or amendment to the financial statements, as filed in its Annual Report on Form 10-K. This qualification is due to the requirement the Company must consummate a business combination by September 28, 2009 or be dissolved, as further discussed in the Company's Annual Report on Form 10-K. This factor and the Company's declining cash available for release from its trust account to fund the Company's working capital requirements raise substantial doubt about the Company's ability to continue as a going concern. The Company's current liquidity is most recently discussed in the Company's Quarterly Report on Form 10-Q.

Annual Stockholder Meeting

As previously announced, on February 10, 2009, the Company had received notice from the NYSE Amex LLC (the "Exchange" or "NYSE Amex") staff indicating that the Company was not in compliance with the annual stockholder meeting requirements of Section 704 of the NYSE Amex Company Guide, because the Company did not hold an annual stockholders meeting during the year ended December 31, 2008. The Company was afforded the opportunity to submit a plan of compliance to the Exchange and on March 5, 2009 presented its plan to the Exchange, which included a proposed extension until September 28, 2009 to regain compliance with the continued listing standards.

On May 11, 2009 the Exchange notified the Company that it accepted the Company's plan of compliance but granted the Company an extension until August 11, 2009 (in lieu of the requested September 28, 2009 extension) to regain compliance with the continued listing standards. The Company will be required to provide the Exchange staff with updates in conjunction with the initiatives of the plan as appropriate or upon request of the Exchange and the Company will be subject to periodic review by the Exchange staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the Exchange.

About Hicks Acquisition Company I, Inc.

The Company is a special purpose acquisition company, launched in October 2007 in an initial public offering that was at the time, at $552 million of gross proceeds, the largest SPAC IPO. Founded by Thomas O. Hicks, the Company was formed for the purpose of acquiring, or acquiring control of, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, one or more businesses or assets. It currently has no operating businesses.

Information Concerning Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "contemplate," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. The Company has no intention, and disclaims any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the most recently ended fiscal year. Risk factors may be updated in Item 1A in each of the Company's Quarterly Reports on Form 10-Q for each quarterly period subsequent to the Company's most recent Form 10-K. All forward-looking statements are qualified in their entirety by this cautionary statement.

    Contacts
    Mark Semer or Joseph Kuo
    Kekst and Company
    212 521 4800

http://sev.prnewswire.com/banking-financial-services/20090512/NY1564112052009-1.html

[buchigo!]

no shit si- a nod for considering him as one of the worst but what an apologetic piece of drivel- "he's trying!!!" i'm surprised he didn't get the nod too with the stars.'

http://sportsillustrated.cnn.com/2009/baseball/mlb/05/08/mlb.owners/index.html

[rocco]

Just said on sky news their will be new stricter rules about clubs debts from the premier league and they will want to look at all accounts ...

Anybody expand on this ?

[Something Else]

Just said on sky news their will be new stricter rules about clubs debts from the premier league and they will want to look at all accounts ...

Anybody expand on this ?

it wont happen

been in the news all day

wont happen, no chance, no how

think there may have been a thread in the general sports but it has since gone

[west_london_red]

Just said on sky news their will be new stricter rules about clubs debts from the premier league and they will want to look at all accounts ...

Anybody expand on this ?

Usual sabre rattling from the authorities which will come to nothing. They can see the accounts just like the rest of us whenever they are published. Debt can be hidden in lots of different ways. You can split the satdium into a seperate company and load all the debt on that with the club paying "rent" to the comapny that owns the stadium to pay its interest, or the owners can put all the debt on themselves and pay themselves a dividend to pay the interest. An accountant can probably think of another 100 ways to do it.

[brendanbrady]

tom Hicks Voted one of the worst owners in US sports
From: http://sportsillustrated.cnn.com/2009/baseball/mlb/05/08/mlb.owners/index.html?cnn=yes
2 Tom Hicks  Texas Rangers
Purchased 1998
 
Purchase Price Current Value W-L Winning % Playoffs Championships
$250M $405M 793-827 .489 2 0
 It's hard to fault Hicks for trying, because he really is. But the stain of signing Alex Rodriguez for $252 million in 2000, then baseball's biggest deal, won't wash away. Then, trading A-Rod to the Yankees for little in return -- and agreeing to foot some of the bill -- perhaps made it even worse. Beyond that, Hicks made a number of bad signings (Chan Ho Park, Juan González and Rusty Greer, for a combined $110 million, for instance) with ridiculously high price tags to match that left Rangers fans scratching their heads. Meanwhile, Texas hasn't made the postseason in nine years and is the only franchise in baseball that hasn't won a playoff series. 
 

[Sing A Song of Torres]

http://www.thestar.com/sports/article/632760

More about Hicks's ownership of the Stars. Here's a section of interest, though...

Tom Hicks, who owns the Dallas Stars and baseball's Texas Rangers, defaulted a month ago on $525 million in loans tied to the teams, starting the clock ticking in a showdown with lenders that could see the Stars end up in bankruptcy proceedings in October.

At the time, Hicks said he was trying to work out a new deal with his creditors, and perhaps bring in new investors, but has been mum on the situation since. Dallas Stars president Jeff Cogen referred calls to a public relations firm, which said there was "nothing" to report.

NHL deputy commissioner Bill Daly did not respond to an email. A group of 40 financial institutions and other investors hold the debt in Hicks Sports Group, which owns the two teams. It would take 180 days for lenders to foreclose on defaulted loans, according the standard deals involving the NHL.

That gives Hicks another five months to find alternate financing, but lenders are tight with their money these days, and those who follow sports financing closely worry it's inevitable that the Stars will follow the Coyotes into bankruptcy.

"He's heading in the same direction," said a broker specializing in sports financing, who didn't want his name used because of his dealings with the NHL.

"It could be the second team in Chapter 11," said Andrew Zimbalist, an economics professor at Smith College, who specializes in sports business. "When Hicks put himself in that circumstance, he's creating a lot of difficulty for himself. He's going to squirm a little bit. Whatever leverage he had, he loses some of it.

"You go to your creditors and try to re-organize your loans," added Zimbalist. "(If) they say no deal, you can declare bankruptcy or sell the franchise or go to other banks and borrow more money."

Hicks also co-owns Liverpool, a soccer team in England's Premier League, another franchise looking for new ownership. His holdings in Liverpool – shared with Montreal Canadiens owner George Gillett –are outside Hicks Sports Group.

None involved believe the Stars are in danger of moving. Dallas is believed to be a strong market with the team able to turn a profit, especially if it makes the playoffs.

[ttnbd]

Just said on sky news their will be new stricter rules about clubs debts from the premier league and they will want to look at all accounts ...

Anybody expand on this ?

They already get the accounts of every football club on an annual basis.  It's a requirement, especially when competing in europe.

But there's very little they can do to integrate new rules due to how ingrand the issues are at present.  They would have to give clubs years to change the make-up of the balance sheets.

[rocco]

Usual sabre rattling from the authorities which will come to nothing. They can see the accounts just like the rest of us whenever they are published. Debt can be hidden in lots of different ways. You can split the satdium into a seperate company and load all the debt on that with the club paying "rent" to the comapny that owns the stadium to pay its interest, or the owners can put all the debt on themselves and pay themselves a dividend to pay the interest. An accountant can probably think of another 100 ways to do it.

They already get the accounts of every football club on an annual basis.  It's a requirement, especially when competing in europe.

But there's very little they can do to integrate new rules due to how ingrand the issues are at present.  They would have to give clubs years to change the make-up of the balance sheets.

cheers....  no use then