Topic: Liverpool owner Hicks selling Texas Rangers shares

[lfctitch]

That sentence isn't logical. He either has serious financial problems, which would include being leveraged up to the eyeballs or he does not have serious financial problems and has decent equity in his businesses. And as we've asked before, who do they think is going to buy these minority stakes in the current climate with a known liar/difficult operator like Hicks in control. It is now clear to any sentient investor that Hicks is not a clever businessman (or he would have sold to the Sheikh for £500m last year) and is difficult to work alongside (track record at LFC).

1. Hicks is rich in terms of you and me, but as such, with all debt paid of, he is probably worth no more than the Beckhams.
2. Gillett is in the same boat as Hicks
3. Nobody knows for sure about the £500 million offer.
4. Would anyone give them £700 million loan? I know I wouldn't.

[fry]

It's so difficult to read what's really going on now. We keep getting these little bits of encouragement from the press over here and the US, then nothing happens. When will this nightmare end?

I think this will end when a new owner comes in. If this happens it will not be till after the final game is played.  SE made a good point in terms of keeping a sale of the club quiet etc so that we can take advantage of the transfer market.  If they think you have a fiver you will get it for 4.50, if they think you have a tenner, you will be paying 8.

[lfctitch]

I think this will end when a new owner comes in. If this happens it will not be till after the final game is played.  SE made a good point in terms of keeping a sale of the club quiet etc so that we can take advantage of the transfer market.  If they think you have a fiver you will get it for 4.50, if they think you have a tenner, you will be paying 8.

Exactly. Hence I said the other day about these leaks to the press, and to certain people about us being able to get the refinance, about Keith Edelman, etc.
We have proven before that they have leaked things, and it would not surprise me if they've done it again.

[west_london_red]

Whats also interesting is that the accounts still have not been published, and have to by the end of the month.

Do they usually leave it this late or is that normal?

[lfctitch]

Whats also interesting is that the accounts still have not been published, and have to by the end of the month.

Do they usually leave it this late or is that normal?

Perhaps there worried...

[west_london_red]

Perhaps there worried...

Thats what I suspect, they dont want everyone knowing what a shite state of affairs the club is actually in. We'll find out soon enough though.

[shelovesyou]

Perhaps there worried...

Perhaps they are waiting to get out before they are published 

[fry]

Whats also interesting is that the accounts still have not been published, and have to by the end of the month.

Do they usually leave it this late or is that normal?

I'm sure someone posted about this, apparently if the accounts are not released on time there is a fine of some sort.  Wether the fine justifies sparing their blushes i don't know.

[fry]

Perhaps they are waiting to get out before they are published 

ITV should get on that for a tv show "Im in LBO Debt, get me out of here"

[shelovesyou]

I'm sure someone posted about this, apparently if the accounts are not released on time there is a fine of some sort.  Wether the fine justifies sparing their blushes i don't know.

Yeh that was ttnbd mate , im sure they would aswell , whats a fine here and there ? and they would just put it on the club anyway the twats . . .

[lfctitch]

Yeh that was ttnbd mate , im sure they would aswell , whats a fine here and there ? and they would just put it on the club anyway the twats . . .

Very true. But how long can they hold of?

[4pool]

The accounts to be published are for July 1st, 2007 through June 30th 2008. Or some such as they are a "year" behind.

So not sure why that would be a problem to get done.

[rocco]

The accounts to be published are for July 1st, 2007 through June 30th 2008. Or some such as they are a "year" behind.

So not sure why that would be a problem to get done.

Out this month ? so 2008-2009 will be a year late as well ?

[lfctitch]

The accounts to be published are for July 1st, 2007 through June 30th 2008. Or some such as they are a "year" behind.

So not sure why that would be a problem to get done.

Who knows what they did then though?

[fry]

The accounts to be published are for July 1st, 2007 through June 30th 2008. Or some such as they are a "year" behind.

So not sure why that would be a problem to get done.

Cheers 4p, Is that the year they rolled up the interest cause they could not afford it and know that by relasing this information they will be sinking themselves further in the shit? 

[lfctitch]

Out this month ? so 2008-2009 will be a year late as well ?

I believe that to be the case from what 4pool said. I believe TNT has said the same thing

[lfctitch]

Cheers 4p, Is that the year they rolled up the interest cause they could not afford it and know that by relasing this information they will be sinking themselves further in the shit? 

Well I put this to you fry; Didn't potential new owners look at the books (Due Diligence) and walk away? Obviously something in there not very rosy

[fry]

Well I put this to you fry; Didn't potential new owners look at the books (Due Diligence) and walk away? Obviously something in there not very rosy

I was talking to a guy\gal who told me that the last due diligence took place 4 months ago.  Not really new news but this guy\gal was pretty certain so it confirmed for me that there was serious interest at that point but no idea who.  My bet was the Kuwaitis.  who seem to have walked away.

My fear is that the 350 mill loan is now more like 380 mill with the interest rolled up.

[4pool]

I believe that to be the case from what 4pool said. I believe TNT has said the same thing

That's ttnbd who gets the reports in every year and does an analysis for us.

[fry]

That's ttnbd who gets the reports in every year and does an analysis for us.

Ill to the preview of this years books:

"fucked"

[No666]

The loan will not be 380 because not all of the stadium facility has been drawn down. Even with rolled up interest of one year, it should be in the 320m ballpark area I believe. I've read anything from 280 to 320, from memory.

[fry]

The loan will not be 380 because not all of the stadium facility has been drawn down. Even with rolled up interest of one year, it should be in the 320m ballpark area I believe. I've read anything from 280 to 320, from memory.

How sure are you that the 60 mill has not been touched.  Could they use this facility to pay for Dallas based "architects" or other "building" expences.

[lfctitch]

Guys we won't know what debt we're in, Because it will be up until July 2008. We are now in 2009, So it is anybodies guess what kind of debt we have had since July 2008 - April 2009. But whatever it is, you can add on a few million in transfer fee's, and other stuff.

[fry]

Guys we won't know what debt we're in, Because it will be up until July 2008. We are now in 2009, So it is anybodies guess what kind of debt we have had since July 2008 - April 2009. But whatever it is, you can add on a few million in transfer fee's, and other stuff.

It will be interesting to see how much money went towards paying PR companies to try and get fans to like them.  Serious waste of money and could be spotted a mile off.

[No666]

Oh, some of the facility for the stadium has been drawn down for sure. Just don't think we're in quite as much shit as 380. Like wading up to our chests, rather than our noses.

[southern scouse]

How sure are you that the 60 mill has not been touched.  Could they use this facility to pay for Dallas based "architects" or other "building" expences.

Didnt the posioned dwarf mention that they had spent 100 million (not sure if GBP or USD) on stadium designs when he got hijacked by SOS at the Hotel ? Probably spin if those were the words he used, but gives food for thought if that amount has indeed been drawn down under that guise.

[MolbysBigBelly]

IIRC the stadium money was ringfenced and can't be used to do anything other than preparing the groundworks, purchasing building materials or actually building the bloody thing.

[vanoord]

IIRC the stadium money was ringfenced and can't be used to do anything other than preparing the groundworks, purchasing building materials or actually building the bloody thing.

I *think* it included fees.

The reason why the stadium didn't go ahead was because they didn't have the money to order the steel & other materials.

[ttnbd]

That sentence isn't logical. He either has serious financial problems, which would include being leveraged up to the eyeballs or he does not have serious financial problems and has decent equity in his businesses. And as we've asked before, who do they think is going to buy these minority stakes in the current climate with a known liar/difficult operator like Hicks in control. It is now clear to any sentient investor that Hicks is not a clever businessman (or he would have sold to the Sheikh for £500m last year) and is difficult to work alongside (track record at LFC).

Think of it this way (and I realise it's not the most comparable situation but a situation), you've got a house that's worth £150k while you have only a mortgage of £100k.  You lose a sizeable part of your income, or you have an issue where you have to spend money (maybe a divorce or new child).  So you run into difficulties keeping up with your payments becuase you need to buy food and pay heating etc first and decide to put the mortgage at the bottom of the pile. 

This may mean short term difficulties which put you in arrears, and the banks could look to foreclose on you.  However they could decide that, because you have £50k equity in the house, they can do you a deal to take the pressure off.  This maybe a payment holiday or renegotiating the terms to cut the monthly bill because it's only a short term issue.  Of course they want assurances it's only short term.

What that quote is suggesting is that it's purely a short term cashflow issue, not a LTV issue.  It suggests that even if Hicks were to sell a minority stake to pay off the arrears he'd still be in a majority holding position because of the amount of equity in he has.

[Something Else]

so despite not passing the deadline some are talking as if this info is late

why release it before you have to?

[PhilAnderer]

Going back over ttnbd's posts, the accounts were released on 22nd May last year.

Although they won't show the current state of affairs, they will be the first set of figures showing a whole year of the yanks in charge.

[lfctitch]

Going back over ttnbd's posts, the accounts were released on 22nd May last year.

Although they won't show the current state of affairs, they will be the first set of figures showing a whole year of the yanks in charge.

So we should expect within the next 10-14 days we should hear something?

[shelovesyou]

Pinched from TIA , no links posted sorry ;

Reports are surfacing in the middle east that Arab investment in soccers Premiership 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.

[No666]

SMTM (the poster with the hypnotising avatar) says that report is a load of bollox apparently - the poster took it from an Everton site and changed the names.

[shelovesyou]

Fair do's , Didnt know that .

[west_london_red]

Fair do's , Didnt know that .

Come on mate, surely the Glayde family and Sheikh Unvac were a bit of a give away!

[shelovesyou]

Come on mate, surely the Glayde family and Sheikh Unvac were a bit of a give away!

With all these mad names floating about It didnt register at all mate . . .

[No666]

Come on mate, surely the Glayde family and Sheikh Unvac were a bit of a give away!

I didn't read the quoted post, just the first sentences, having seen SMTM's disavowal of it first. Someone was bored. 

[electricghost]

With all these mad names floating about It didnt register at all mate . . .

Them shits you are suffering have affected you more than you thought. Any idea what time the update from the docs will be, the suspense is unbearable. 

[shelovesyou]

Them shits you are suffering have affected you more than you thought. Any idea what time the update from the docs will be, the suspense is unbearable. 

 

I'll be sure to let you all know asap .