Topic: Share Liverpool fc Do we Know if they are ready to make a bid?

[simonchamp]

I was wondering about that too. Much respect to SOS for getting the ball rolling.

I take no satisfaction from SL's inability to respond to events.Rogan and the rest are Reds like us whose core beliefs are the same. But the worry was always that they were happier parading around the swimming pool in their costumes, than jumping in the water and getting wet.

And that has proved to be true.

But Xerxes they have a "six figure sum" now!

The real shame in this is that Share Liverpool had not only good faith and plenty of time, but more importantly the backing of Aldo, Barnes, etc.  How they manage to screw up so badly is a joke, was Parry advising them?

[FiSh77]

recieved this email from them today

SOME GOOD NEWS AT LAST

We are delighted to tell you that the board of ShareLiverpoolFC can announce that it is confident that the costs of organising and delivering a full share issue can now be met.

As many of you will be only too well aware, the substantial costs of offering (even not-for-profit) shares for sale under the proper regulation of the Financial Services Authority of UK has proved a major barrier to our moving forward.

At last that barrier has been removed.

Clearly there is a great deal of work to do beforehand, but we will now look to specify a date for a share issue – probably some time within the next two to three months.

There is a great deal you can do too to help the cause:

Start to save towards buying a share, currently a minimum of £500 (but with an opportunity to invest more if you can afford it – check out the website for more details).
Send this email on to at least one other LFC fan you know by clicking here
You do not need to register again, but please tell every Liverpool fan you know that the time is coming and they should register their interest on the website, and start saving too.
Unlike the collapsing 'Red Knights' proposal at Man Utd, ShareLiverpoolFC's plan does not depend upon a few wealthy fans, rather it relies upon the collective efforts of individual supporters in order to raise the funds necessary; not high net worth individuals behind the organisation.

Also, unlike Man Utd, Liverpool FC is for sale, and the Club's value is considerably lower. ShareLiverpool has over 35,000 registered supporters whose current pledges could raise up to £40 million in order to acquire a stake in the club.

It will require hundreds of thousands of LFC fans to buy a share for the plan to succeed. But there are more than 4 million in UK & Ireland alone, and uncounted millions more abroad. If the sum raised is insufficient to take a majority stake in the Club, then the board would seek to partner a suitable majority owner by purchasing a minority share which could not be diluted by subsequent share issues; Club board representation and pre-emption rights. If in the end, ShareLFC is unsuccessful, the money will be returned to everyone who put money in.

This is our time. This will be the one chance we'll get to take control of the Club we love and support. This may be the only opportunity we'll ever have to make sure that what has happened to Liverpool FC these last few years will never be allowed to happen again. There's only one way to guarantee that. But it will need a huge number of LFC fans to contribute.

As the Kop banner says: 'What we achieve in life echoes in eternity'

Let's get on with it.

ShareLiverpoolFC board

[CraigDS]

So they have enough 'pledges' to raise £40m - that isnt even enough to get 10% of the club according to what Hicks wants. They say they need £150m in this way from fans so £40m (and its only a pledge, not a penny of cold hard cash) is not even a 3rd of what they wanted.

Have they approached and agreed deals with commercial partners as they say the plan will include for a £100m stake?

Have they held discussions and have a deal in place with a bank for this further £100m to the terms they specified?

[mccred]

Fuck this has just left me feeling confused. Why couldn't they have just joined up with S.O.S. We all want the same thing but dividing opinions and support like this ain't what we need.
Also when they say a share issue, they mean chuck your 500 quid into an account until there is enough to make an offer, I assume? As you can't sell shares for something you don't own. 
36000 is a lot of pledges to be starting with, but I'm sure a lot are like me and lost faith that they were really doing anything?

[scouse29]

Interesting to see how this plays out with SOS launching something similar

[Jack Slater]

Fuck this has just left me feeling confused. 

I agree.  Especially confusing is that the email says that they are "confident" that they will be able to get the launch money.  Whereas the media briefings and the website claim that they have actually got the money already.

So which is it?  Is it definitely available?  Or is it hopefully available.  There is a huge and important difference.

Also when they say a share issue, they mean chuck your 500 quid into an account until there is enough to make an offer, I assume?

Yes.

As you can't sell shares for something you don't own. 

Obviously anyone needs to read the fine print to check they're happy before sending off any money.  But the theory is that you would always own something.

Say you and your mate each throw £500 cash into a hat.  You can say you each own £500 out of the hat (let's say yours was all £20 notes and his was all £50s, and so you can get your exact notes back if you want).  Or you can say that you each own half of the £1000 in the hat.    Either way, you're not poorer just because you have put your money into a pool.  And it aint difficult to get your cash back either.

 once that £1000 is used to buy something (a car, say) it is a bit different.  You can't get your cash back so easily.  But you own a half share in a £1000 car instead of a half share of a pool of £1000 cash.

[Coady]

Its going to need alot of people to donate £500 to get the £800m Hicks is looking for.

[Jack Slater]

Its going to need alot of people to donate £500 to get the £800m Hicks is looking for.

I dont want to be part of any scheme which values the club at more than £250m.  That still gives them a 10% return.

[xerxes1]

I dont want to be part of any scheme which values the club at more than £250m.  That still gives them a 10% return.

I think you can rest easy on that.

[Jack Slater]

I think you can rest easy on that.

I think you misunderstood me

[jwilgar]

Got the same e-mail from both SOS and SLFC yesterday.  Great to see that they have sorted out their differences and will soon merge.  Great !

[Jack Slater]

So, what actually is happening then?

Nothing?

All that fuss about having £100k to do a share issue, and nothing solid since then.

I know SOS has announced a Credit Union, and claimed that is connected to fan ownership, and  SLFC has said it is in support of that.  But is that all that's happening now?   Everything else is scrapped?

[Graham Smith]

Loads of work going on.

Credit Union should open in August - Share Liverpol moving too.

[conman]

Loads of work going on.

Credit Union should open in August - Share Liverpol moving too.

great news that.. thanks Graham

[Jack Slater]

Loads of work going on.

Credit Union should open in August - Share Liverpol moving too.

Yeah.   SOS has done a lot of work on the Credit Union. 

But SLFC had that round of media interviews for one day, along with an email, and then nothing since  (apart from saying it has resolved its differences with SOS).

It's time for an update really.  Either a date for the plans it announced a few weeks ago, or else confirmation that that is not happening any more.

I aint knocking SLFC for all the work that they've put in over that last 2 and a half years, and I definitely think the people involved did it purely out of love for LFC.  But to hear nothing at all from them at the exact time that the club is finally on the market is a bit frustrating.

[Bonaqua]

Yeah.   SOS has done a lot of work on the Credit Union. 

But SLFC had that round of media interviews for one day, along with an email, and then nothing since  (apart from saying it has resolved its differences with SOS).

It's time for an update really.  Either a date for the plans it announced a few weeks ago, or else confirmation that that is not happening any more.

I aint knocking SLFC for all the work that they've put in over that last 2 and a half years, and I definitely think the people involved did it purely out of love for LFC.  But to hear nothing at all from them at the exact time that the club is finally on the market is a bit frustrating.

Maybe because they are in concrete, sensitive negotiations?

[Tes]

I agree.  Especially confusing is that the email says that they are "confident" that they will be able to get the launch money.  Whereas the media briefings and the website claim that they have actually got the money already.

So which is it?  Is it definitely available?  Or is it hopefully available.  There is a huge and important difference.

So they share the same script writer as Broughton then?

'Hope' seems to be the word of the moment where anything connected  (however loosely) to LFC is concerned.

[xerxes1]

But SLFC had that round of media interviews for one day, along with an email, and then nothing since  (apart from saying it has resolved its differences with SOS).

It's time for an update really.  Either a date for the plans it announced a few weeks ago, or else confirmation that that is not happening any more.

I aint knocking SLFC for all the work that they've put in over that last 2 and a half years, and I definitely think the people involved did it purely out of love for LFC.  But to hear nothing at all from them at the exact time that the club is finally on the market is a bit frustrating.

I joined SL when it launched,  but have long since given up the ghost, in favour of SOS.

I support the idea of fans stake in clubs. The opportunity to mobilise in this regard is now. But it isn't happening.

I do not doubt SL's "Redness". I do think they like the publicity but are wholly unable to deliver. The reason why they do no want to move forwards is because failure and oblivion then faces those involved. An idea of a behind the scenes del and secret negotiations is risible. In order to enter into substantive negotiations requires financial credibility- which they do not have.

My view is that this ship has now sailed. IF, a supporters group had a credible actual oF pledged warchest of £50m+, we could be players at the table. But to think that so late in the day anyone is going to be able to raise cash which can influence ownership is now a pipedream.