Topic: Authorities to seize control of Texas Rangers from Liverpool FC owner Tom Hicks

[tony new mexico]

http://www.sportspromedia.com/notes_and_insights/_a/authorities_to_seize_control_of_texas_rangers_from_liverpool_fc_owner_tom_h/?utm_source=Syndication+Websites&utm_campaign=Syndication+Websites&utm_medium=syndication_websites

Interesting.

[Canada Loves Anfield]

I never liked Bud Selig - until now

[R.A.La]

Good. I hope the twat ends up living in a cardboard box.

[neilfc6]

He,s just a fucking crook 

[Niru Red4ever]

Hope they end up as paupers on the street. Hopefully this will make them realise that demanding 800mp means they will end up losing everything.

[rafathegaffa83]

Dallas Observer's blog is noting it as well

Reports: MLB Will Seize Rangers and Nullify Creditors' Loans, Which Means ... Bankruptcy
By Robert Wilonsky, Monday, May. 10 2010 @ 8:21AM

To be honest, I really thought we'd be done with this picture by now. Apparently not.
​On the field, they're Your Texas Rangers -- back atop the American League West, fresh off the first four-game series sweep since '07 and headed into an early season showdown with one-game-behind-'em Oakland, riding its own perfect-game high. But off the field -- what a mess: Sports Business Journal is reporting this morning that after Major League Baseball owners' meetings this week, MLB Commissioner Bud Selig will make good on his threat to seize Your Texas Rangers and revoke the creditors' liens if they don't wrap up the sale of the team to Chuck Greenberg and Nolan Ryan's Rangers Baseball Express. And, according to the subscription-only SBJ, well, that there just won't work for a majority of the creditors.

According to the piece, should Selig and MLB, who've already seized control of the sale from Hicks Sports Group, go this route -- in the "best interests of baseball" -- the creditors, chief among them predatory fund Monarch Alternative Capital, will force the team into federal bankruptcy court, which they've been threatening to do for weeks. And should "the creditors prevail," writes NBC Sports's Craig Calcaterra, "it quite obviously delays the sale of the team and possibly takes Chuck Greenberg and Nolan Ryan out of the owners' suite in favor of a higher bidder, should one emerge." Which, of course, is the exact opposite of what MLB wants, given its statement that no way no how should Tom Hicks go around its back and find a higher bidder like, say, Jim Crane. And therein lies the conundrum, writes Calcaterra:

But say baseball wins the battle, is able to shrug the liens off the Rangers, and pays them a pittance to go away, thereby paving the way for the sale. If that happens, isn't every bank and investment fund who ever considered lending money to a sports team going to freak out? Why on Earth would any of them give money to a sports team if they have good reason to believe that the debtor could simply refuse to pay up and then have the league come in and invalidate the debt in the first place?
http://blogs.dallasobserver.com/unfairpark/2010/05/reports_mlb_will_seize_rangers.php

[tony new mexico]

Hope they end up as paupers on the street. Hopefully this will make them realise that demanding 800mp means they will end up losing everything.

I think this goes hand in hand with why they are asking silly money for our club.

[Romford_Red]

According to the link on the same page, they are after $770m, which is about £540m, so that's better alteast (if true)

[buchigo!]

I never liked Bud Selig - until now

[Terry de Niro]

Hopefully the start of something good for us..

[Simon C]

You reap what you sow, what goes around comes around etc. This has brightened up a crap day at work no end.

[buchigo!]

i seriously don't know what to make anymore from this comment on the dallas observer blog...

becca says:
tom hicks makes me want to punch a baby.
Posted On: Monday, May. 10 2010 @ 9:13AM

[tony new mexico]

Not wanting to go OT but its a great chance here in the States to tie Liverpool FC in with this news and give it wider publicity where it can hurt H&G big time.

[koptommy93]

Would be very nice to watch him crash and burn

[Canada Loves Anfield]

According to the link on the same page, they are after $770m, which is about £540m, so that's better alteast (if true)

Do you not see the relation between us not getting owners cause of their overvaluation of us and that? He should be selling to Nolan Ryan's consortium, but he is holding out for a higher bidder cause he is a mercenary c*nt. Nothing from this deal is good for us because none of this money is actually going into his pockets - and even if it did, we wouldn't see anything.

[Red-juvenated]

Hicks is known to be an expert in 'leveraged' buyouts and has made most of his fortunes by selling at very high value. If he loses money there he's likely to try and make up his losses at Liverpool.

Bugger!

[Simon C]

Hicks is known to be an expert in 'leveraged' buyouts and has made most of his fortunes by selling at very high value. If he loses money there he's likely to try and make up his losses at Liverpool.

Bugger!

Didn't think of it that way, this could be a complete disaster for us.

Open question
Do the Permier league have the authority to do something similar?

[No666]

As I understand this, this has no real impact on Tom Hicks if the lenders don't dispute it because the deal he has wanted all along goes through. (He wants this deal for reasons to do with grabbing a bigger slice of the funds himself and leaving the lenders with a shortfall.) This is merely the MLB trying to stop the lenders holding up the deal. However, it will probably get mired in legal action as the lenders will now try for bankruptcy.

[rossipersempre]

If only the RBS (UK plc) weren't so pathetically toothless, and actually threatened the bloated fucker with the same treatment (sell NOW, or we'll foreclose), then we wouldn't be in the mess we are in right at this moment.

[Fruity]

It shows what a callous fuckwit he is. The more you read these type of stories the more worrying our situation gets.

[rossipersempre]

Hopefully the start of something good for us..

I strongly fear it's quite the opposite. This may just further entrench him in his desperation to squeeze every last drop out of blood out of us, whatever the costs. We are now the poor unwilling sods at Little Big Horn to his General Custer.

[rafathegaffa83]

Do you not see the relation between us not getting owners cause of their overvaluation of us and that? He should be selling to Nolan Ryan's consortium, but he is holding out for a higher bidder cause he is a mercenary c*nt. Nothing from this deal is good for us because none of this money is actually going into his pockets - and even if it did, we wouldn't see anything.

I agree

[No666]

It makes zilch impact on us. He wants this deal; if MLB manage to finesse it through he will be laughing.

[Terry de Niro]

I strongly fear it's quite the opposite. This may just further entrench him in his desperation to squeeze every last drop out of blood out of us, whatever the costs. We are now the poor unwilling sods at Little Big Horn to his General Custer.

Having read that article properly, I fear that you are right.

[covi2k2]

Not wanting to go OT but its a great chance here in the States to tie Liverpool FC in with this news and give it wider publicity where it can hurt H&G big time.

I agree, would be a god time to let US news channel etc know what is going on here to, maybe try start some affiliation with the Rangers fans

[tony new mexico]

I agree, would be a god time to let US news channel etc know what is going on here to, maybe try start some affiliation with the Rangers fans

Thats where im coming from mate and ive already got a bit of media interest already.

[smig]

What an arse that man is.

[Zeb]

Thread on Hicks' American debacle.

MLB made the threat last week, this seems to be the creditors' response.

[justarslan]

Where is Richard Scudamore to do the same?

[CHOPPER]

RBS take note, in fact can someone E-mail it to them.

[rossipersempre]

Where is Richard Scudamore to do the same?

Meeting SOS in the near future apparently. Will be interesting to see how they play that one and the outcome if any.

[royhendo]

Why on Earth would any of them give money to a sports team if they have good reason to believe that the debtor could simply refuse to pay up and then have the league come in and invalidate the debt in the first place?

It's a hell of a question that isn't it?

[HarryLabrador]

Meeting SOS in the near future apparently. Will be interesting to see how they play that one and the outcome if any.

Scudamore: Well, thank you for meeting me SoS.  It's nice to know you support me in my plan for "the 39th game".
                   
            SoS: But what about Liverpool and Hicks and Gillett?

Scudamore: Oh, jolly good! glad to hear they are all in support of the scheme.

 

[Stussy]

Christ, this malignant slug leaves a trail of trouble, failure, damage and pain everywhere he crawls.

Could we have been apprehended by any lower and worse and more shameless an owner?

To destroy one sports club is careless, to come close to bankrupting two.....

[Stussy]

Hicks is known to be an expert in 'leveraged' buyouts and has made most of his fortunes by selling at very high value. If he loses money there he's likely to try and make up his losses at Liverpool.

Horrifyingly possible.

[BobbyDavro]

Well done Davie Moores.

I'm starting to think administration could be a very, very good thing for us.
Pay the twat 10p in the pound for any money he's put in, do the same to RBS for backing him, have a massive cull of players this summer, and start all over again.

[manifest]

article says: "Fans of Liverpool FC, the club which finished a poor seventh in the Premier League this season and revealed annual losses of £54.9 million and soaring debts of £351 million on Friday, may wish that the Premier League had similar regulations. Hicks said last week that he expects to take up to two years to sell Liverpool."

or we pressure the FA/premier league/UEFA and RBS to walk their talk and take over the sale as the american commissioner is doing, refuse any profit for hicks, which is what this whole thing is about, and sell to the best and proper person, not the highest bid.

sounds a lot like this:

http://www.redandwhitekop.com/forum/index.php?topic=256532.2040

[liverpoolfan1970]

I never liked Bud Selig - until now

Same here.  Suddenly I am finding myself developing a major man-crush for the old guy. 

[mccred]

Well done Davie Moores.

I'm starting to think administration could be a very, very good thing for us.
Pay the twat 10p in the pound for any money he's put in, do the same to RBS for backing him, have a massive cull of players this summer, and start all over again.

This seems like the answer to me as well. Just don't see how its going to end any other way,and probably better to happen sooner rather than later. Cause the longer it goes on the worse it seems to become. Or perhaps I just need to get me valium script increased?
Ups and fucking downs, felt full of hope a week or two ago.
No idea about finances, some peoples posts seem to offer a little light, others make me want to batter the pair of cowboy c*nts.

[liverpoolfan1970]

Do you not see the relation between us not getting owners cause of their overvaluation of us and that? He should be selling to Nolan Ryan's consortium, but he is holding out for a higher bidder cause he is a mercenary c*nt. Nothing from this deal is good for us because none of this money is actually going into his pockets - and even if it did, we wouldn't see anything.

True, but MLB isn't looking out for his best interest.  They are just going to force a sale through.  The same could be said for us, in a way.  It seems MB was forced upon them by the banks.  They (the banks) want the club sold and they know Hicks has a past history of scuppering any deal which doesn't give him a HUGE amount of money.  I think is someone came in and offered say 400-450 million the deal would be done. 

Either way, this shows the "fans" who think Rafa is the problem just one more piece of evidence as to the identity of the REAL cancer at Liverpool football club.