Topic: Martin Broughton: 22 Questions from .tv

[whelan05]

You would have to believe that a man in his position with the likes of BA wouldn't bulls*** on something like this and that a sale will happen sooner rather than later. Remember it's not like the yanks who have lied from day 1 and have nothing to lose as regards reputation in the UK, Broughton does have his career to consider, and doesn't have to shoulder the blame for the mess we are currently in,  so I am a bit more optimistic after reading this.

The frustrating thing is that he mentions the end of the transfer window so if new money is available it will be difficult to pick up the better players as they will have already moved ala Silva. Still a bit of stability might not be a bad thing for a few months. 

[RK7]

The most significant quotes are:

1.  "The owners have stepped aside, stepped down. I'm overseeing the process and Barclays Capital are running the process."

2.  "The owners can't block the sale of the club."

3.  "I would like to make it clear there is no number. There is no base line."

4.  "This is a willing buyer, willing seller auction."

5.  "Once we've been through the process, the best bidder gets it."


None of those quotes have double meanings, or are open to interpretation.  He is stating "facts" as opposed to spin or opinion.

If people want to think he is lying, then that is their call.  I dont know him and can't vouch for his honesty.  But there's no wiggle room.  Either we are up for a genuine sale, in a genuine auction (as Broughton says) or he is lying.

This is exactly right, he could not have been clearer. The doom mongering on here, rumours and the way fans are posting opinions as if they are fact is almost as bad as what the gutter press print.

Time will tell but he has been very clear with us and he implies the owners are all but officially gone.

[filopastry]

We still need to find someone who values the club as a business at more than the value of the not inconsiderable debt on its books, so they're not quite gone yet

[R.A.La]

Until it happens I choose not believe a word of it.

[wiresnreds]

The most significant quotes are:

1.  "The owners have stepped aside, stepped down. I'm overseeing the process and Barclays Capital are running the process."

2.  "The owners can't block the sale of the club."

3.  "I would like to make it clear there is no number. There is no base line."

4.  "This is a willing buyer, willing seller auction."

5.  "Once we've been through the process, the best bidder gets it."


None of those quotes have double meanings, or are open to interpretation.  He is stating "facts" as opposed to spin or opinion.

If people want to think he is lying, then that is their call.  I dont know him and can't vouch for his honesty.  But there's no wiggle room.  Either we are up for a genuine sale, in a genuine auction (as Broughton says) or he is lying.

I dont recall the bit about 'the owners cant block the sale'......Did he really say that...?

[the jesus]

This is exactly right, he could not have been clearer. The doom mongering on here, rumours and the way fans are posting opinions as if they are fact is almost as bad as what the gutter press print.

Time will tell but he has been very clear with us and he implies the owners are all but officially gone.

We'll see soon then, A number of interested parties and an auction, sounds like there are no reasons why it would not happen
if it doesn't go through by the end of August then we know he is bullshitting if it does all well and good.

While we wait to find out lets do all we can to speed the departure of our owners, incase we are having the wool pulled over our eyes.

For what  its worth there was an air of believability about him.

[the jesus]

I dont recall the bit about 'the owners cant block the sale'......Did he really say that...?

Yes , and that there was no minimum price but an auction process, with interested parties
As JS said there really was no wriggle room its either bullshit or we get sold.

Only way out for him would be if there was no interest at any price.

[No666]

V interesting interview from Broughton.

Broughton was specific that the owners don't have a say in the sale and again on sale price not being the main criterion, whereas Hicks said in that email that it was strictly business as far as he was concerned (price rules) and gave the impression with that comment that he had a say in the sale. One of them is lying. Can't see that Broughton has any motive to lie, whereas Hicks has both a record and a motive.

Hope the US journos who have criticised Hicks pick up on this story. I want to see the fat b*stard royally embarrassed in the US.

[The Gulleysucker]

Yes , and that there was no minimum price but an auction process, with interested parties
As JS said there really was no wriggle room its either bullshit or we get sold.

Only way out for him would be if there was no interest at any price.

So is there anything that prevents Purslow & his chums from fronting a bid? Just a thought.

[filopastry]

So is there anything that prevents Purslow & his chums from fronting a bid? Just a thought.

I'd say the simple fact that this would be difficult to justify economically paying anything for the club with its current debt levels

[LukeD]

Forgive me for I am not as savvy as some here (and thank you to those of you who take your time to educate people like me!).  Am I to understand that the club is being sold at auction?  Essentially, interested parties are being invited to have a look around, figuratively speaking, and then put forward sealed bids which will then be judged by Broughton and BarCap to decide which is best provided that they cover the debt?

In layman's terms, is Liverpool Football Club essentially similar to, say, a repossessed house that is being auctioned and ultimately all bids over the value of the remaining mortgage will be entertained?  The difference here being that the winners this time will not necessarily be the ones who stump up the most cash (that bit I struggle to believe but that could easily be down to being once bitten, twice shy).

Thanks in advance.

[filopastry]

Forgive me for I am not as savvy as some here (and thank you to those of you who take your time to educate people like me!).  Am I to understand that the club is being sold at auction?  Essentially, interested parties are being invited to have a look around, figuratively speaking, and then put forward sealed bids which will then be judged by Broughton and BarCap to decide which is best provided that they cover the debt?

In layman's terms, is Liverpool Football Club essentially similar to, say, a repossessed house that is being auctioned and ultimately all bids over the value of the remaining mortgage will be entertained?  The difference here being that the winners this time will not necessarily be the ones who stump up the most cash (that bit I struggle to believe but that could easily be down to being once bitten, twice shy).

Thanks in advance.

That's pretty close to what they are saying although the difference in this case would be that you are not just bidding on the repossessed house, you're actually bidding for the repossessed house plus the mortgage on it, if you don't think the house is worth more than the mortgage then you wouldn't bid on it.

[Mutton Geoff]

seems to me as before words are cheap lets see some substance behind it otherwise he is blowing smoke up our arses yet again

[LukeD]

That's pretty close to what they are saying although the difference in this case would be that you are not just bidding on the repossessed house, you're actually bidding for the repossessed house plus the mortgage on it, if you don't think the house is worth more than the mortgage then you wouldn't bid on it.

Yeah, sorry I meant to add that.  Cheers for clearing that up.

So tell me, this is very interesting isn't it as this is the first time I have heard mention of a sale being conducted this way or is this just hyperbole once again?  I know Jack and the Jesus (that should be a sitcom!) seem to think this a new development in that it's either sold in August or Broughton will be found out* (again, potentially) but is it that this is the first time it's been spelled out like this and actually it's the way all football clubs are sold ultimately (from memory I am fairly sure it's normally just one buyer in the high profile takeovers that have happened recently but I obviously don't know the background to it all).  And also, sorry, isn't it a slight coincidence that the seemingly good news (ie a sale could happen relatively soon and everything is on track) has come out almost immediately after the club have appointed a manager who hasn't exactly filled all the fans with hope and joy; or is that me just being overly paranoid?

Thanks again.

Not sealed bids, I dont think...i

Thanks Jack!

* = seems I've misquoted Jack there, sorry!

[itsgunnabebarnes!]

so why was rafa really sacked then? and who made that decision?

[filopastry]

Sale price will be the main criterion.  (IMHO, that is).

It's all very well saying that he'll take the "best" bid, as opposed to the "highest" bid.  But I'm sure we'll find that he decides that the "best" bid is the one that happens to be highest.

To be honest if Broughton/Barcap are effectively doing the bidding of RBS, I would imagine one of their main concerns will be that the new owners could build a sustainable business out of the current mess and meet the club's financial obligations to RBS, from their point of view the importance of that would come ahead of the price being offered I would imagine as G&H are the people who benefit from a higher price not the bank.

All depends what terms exist between all the interested parties, I suppose.

Anyway if Broughton is telling the truth (a pretty big IF I know) then this is probably as good an outcome as the club could get at the moment.

Of course if the debt deters any interest in this process we could soon get the taste of a rather more formal type of administration.....

[WaltonRed]

This is exactly right, he could not have been clearer. The doom mongering on here, rumours and the way fans are posting opinions as if they are fact is almost as bad as what the gutter press print.

Time will tell but he has been very clear with us and he implies the owners are all but officially gone.

He says no such thing.  He says they cannot block the sale process and that he hopes a sale will happen.  that is hardly the same thing as they are all but officially gone.

Lots of ifs and buts to go. 

[WaltonRed]

Have to confess that although I remain deeply pessimistic about a sale Broughton does seem very confident. 

I hope he is right and I'm wrong because while I am sure he is very assiduously and determinedly courting bidders, I maintain that any buyer can only be from the very small pool of "price doesnt matter"; no matter how you twist the figures, in a world where chelsea, arsenal, city and United play in the same league as us and we dont have exclusive tv rights, I simply cannot stack up a reasonable business case for buying us.

[filopastry]

Have to confess that although I remain deeply pessimistic about a sale Broughton does seem very confident. 

I hope he is right and I'm wrong because while I am sure he is very assiduously and determinedly courting bidders, I maintain that any buyer can only be from the very small pool of "price doesnt matter"; no matter how you twist the figures, in a world where chelsea, arsenal, city and United play in the same league as us and we dont have exclusive tv rights, I simply cannot stack up a reasonable business case for buying us.

I agree with you 100%

[Stevie07]

Broughton has provided some very clear answers to the questions about getting new owners, it certainly gives some good ammunition to SOS and the fans should the process drag on.

Have things changed or is he just providing information that wasn't mentioned before? The fact Broughton said the owners can't block a sale makes you think the major obstacle to a sale has been removed. Only time will tell if he's telling fibs but he couldn't have been any clearer.

Removing Benitez and installing Hodgson does put a big question mark over a sale being done anytime soon though.

[Fairytale of 2005]

The most significant quotes are:

1.  "The owners have stepped aside, stepped down. I'm overseeing the process and Barclays Capital are running the process."

2.  "The owners can't block the sale of the club."

3.  "I would like to make it clear there is no number. There is no base line."

4.  "This is a willing buyer, willing seller auction."

5.  "Once we've been through the process, the best bidder gets it."


None of those quotes have double meanings, or are open to interpretation.  He is stating "facts" as opposed to spin or opinion.

If people want to think he is lying, then that is their call.  I dont know him and can't vouch for his honesty.  But there's no wiggle room.  Either we are up for a genuine sale, in a genuine auction (as Broughton says) or he is lying.

Agree with you fully.

I am slightly more optimistic after seeing the press conference this afternoon, but it is cautious optimism. Broughton's comments make me think that the banks may actually be in control of the sale. Not sure how much Broughton has to gain from lying, but he has a business reputation that I'm sure he doesn't want damaged. Broughton has just made statements in front of the media. There is little room for interpretation in what he said. Maybe all the shite spouted by Hicks about £800m etc, is just hot air. Let's hope so.

[Coady]

What I don't understand is if Broughton is hopeful a deal can be done by the end of August then why change manager and pay compensation out. It means a new owner might have a pay up on a 3 year contract. Surely sticking with Rafa our appointing the "free" Dalglish as caretaker would be the best choice.

[itsgunnabebarnes!]

What I don't understand is if Broughton is hopeful a deal can be done by the end of August then why change manager and pay compensation out. It means a new owner might have a pay up on a 3 year contract. Surely sticking with Rafa our appointing the "free" Dalglish as caretaker would be the best choice.

Yeah. i just cant understand this myself. i see no logic at all.

[JP-65]

There is no logic in it.

Rafa was dumped as Broughton sided with snake Purslow.  Rafa had no support from any of the BOD, so he had to go.

[liverpoolmylife]

I think that the potential bidders would have had a say in the appointment of Roy! Otherwise it would have been King Kenny. It will all make sense over the next 4 weeks. I am sure of that. If Hicks and Gillette have no veto rights in the sale of the club. The bank must have ordered the sale of the club as the yanks could not stump up the £100 million to extend the loan in July.

[lcjpm01]

There is no logic in it.

Rafa was dumped as Broughton sided with snake Purslow.  Rafa had no support from any of the BOD, so he had to go.

and keeping on the no logic theme then the BOD get in Roy on a 3 year contract and the chairman says we will more or less be sold in 6 weeks.Why would you employ someone who may be out on his ear in 6 weeks if Broughton is correct.

[JP-65]

and keeping on the no logic theme then the BOD get in Roy on a 3 year contract and the chairman says we will more or less be sold in 6 weeks.Why would you employ someone who may be out on his ear in 6 weeks if Broughton is correct.

This BOD has been leaking money out of the business at a great rate, so no surprises there (they did sign Rafa to a 5 year contract, only a year ago after all).

Moores had a lot of weaknesses, but the club was run as a tight ship all in all.

[macmanaman]

I just hope what he said is true. But I doubt it.

[Lecter]

My personal opinion is that he is simply stating in public what was agreed between himself, G&H, and RBS in April.  (With G&H "agreeing" in the same way that people agreed to Vito Corleone's proposals).

The reason he is saying it publically might be interesting.  It could be that he never saw it as a secret, and thought that it was reasonably obvious from what he said in April.  (He said he was 'reminding' people, I think).  Or it could be that he thinks that the media has got the wrong end of the stick, and needed telling.  Or it could be that he thinks that Hicks has been a fly in the ointment, and he needed to contradict anything which Hicks might have implied.  (Although I dont think Hicks has necessarily said anything inconsistent with what Broughton said today).

Bit of all 3 perhaps.

It could be that there hasnt been ANY buying interest so far and hes dangling a carrot of picking it up on the cheap

[Stevie07]

My personal opinion is that he is simply stating in public what was agreed between himself, G&H, and RBS in April.  (With G&H "agreeing" in the same way that people agreed to Vito Corleone's proposals).

The reason he is saying it publically might be interesting.  It could be that he never saw it as a secret, and thought that it was reasonably obvious from what he said in April.  (He said he was 'reminding' people, I think).  Or it could be that he thinks that the media has got the wrong end of the stick, and needed telling.  Or it could be that he thinks that Hicks has been a fly in the ointment, and he needed to contradict anything which Hicks might have implied.  (Although I dont think Hicks has necessarily said anything inconsistent with what Broughton said today).

Bit of all 3 perhaps.

Should we be worried that no interested parties have tested the water with a bid? Broughton seems to suggest that the owners aren't a problem and the club will be sold when a reasonable bid comes in, what's prevented that from happening already?

I know these things take time but its difficult to have genuine belief that the club is up for sale until there is tangible evidence. If we are to believe Broughton I guess that will be in a couple of weeks though.

[BigTiredGrowlSnarl]

It maybe that the club have had 1 or 2 bids but MB sed what he sed cuz he wants to see if they can get a couple of more to come in and make a competitive bid, they probably dont wanna jump into bed wiv the 1st offer that comes along, which i think makes perfect sense!!!

[silver 5 star]

Quote from: whelan05 on Today at 04:22:43 PM
You would have to believe that a man in his position ... wouldn't bulls*** on something like this

The most significant quotes are:

1.  "The owners have stepped aside, stepped down. I'm overseeing the process and Barclays Capital are running the process."

2.  "The owners can't block the sale of the club."

3.  "I would like to make it clear there is no number. There is no base line."

4.  "This is a willing buyer, willing seller auction."

5.  "Once we've been through the process, the best bidder gets it."


None of those quotes have double meanings, or are open to interpretation.  He is stating "facts" as opposed to spin or opinion.

If people want to think he is lying, then that is their call.  I dont know him and can't vouch for his honesty.  But there's no wiggle room.  Either we are up for a genuine sale, in a genuine auction (as Broughton says) or he is lying.




This is it. He seemed as open and honest about it as anyone could have wanted?

Also, talking about a potential sale as early as August would make you think that they have some idea of what might be on the table?

Broughton was very clear today and if nothing comes of his statements he would be slated as a liar. In his position I don't think he would want that so I do feel more optimistic today.

Still going on Sunday though - I won't believe these two have gone until my fingers touch the crucifixion wounds to be honest.

[shelovesyou]

The Yanks have lots of reasons to lie and mislead, as does Purslow but Broughton ?
I dont think so, he has nothing to lose if he doesnt sort the sale. Nothing.
He gives you straight answers and doesnt piss about.

I believe all he says until he gives me reason not to and thats how we should approach this.

[jambutty]

I liked the mention of a new ground to an underbidder, but am not hopeful.

There's a chance anyone willing to risk a few million quid would rather keep Anfield or do a groundshare.

[Coady]

Can you update us on the sale process?

The sale process is going pretty well according to plan. Just to remind you, I'm overseeing the sale process and Barclays Capital are running the sale process.

We've now sent out information memorandums to a number of interested parties. They haven't come back to us yet. In the programme, we wouldn't have expected them to have come back to us yet.

We're pretty well on target. I've read rumours in the press about how we've turned down this offer or we've turned down that offer. There have not been any bids made so far, so nothing has been turned down. But I wouldn't have expected there to have been any bids so far.

In terms of a valuation placed on the club, has an £800m valuation been placed and is that valuation putting off potential buyers?

I think the media have run a number of times the £800m valuation and attributed it to Tom Hicks. Let me make clear, there is no valuation figure - this is a willing seller, willing buyer transaction.

We have not put any reserve price on it. It's an auction. At the end of the day, it won't just be the best price, it will be the best buyer, which is a combination of price, intentions, financing structure and the rest.

Whether the media reports have put anybody off, there is very little evidence to that but you can never be sure.

But I just want to make it clear, there is no valuation.

Can the owners reject sensible offers for the club?

The process is again by one which the board has the authority. The owners have committed to accepting any reasonable offer, so once we go through the process, you have an auction, out comes the best bid and that bid gets it.

Some fans fear the club won't be sold for years - are those fears valid?

No they're not and I can't see any reason why that would be the case at all. We've said from the outset we're hopeful of something before the end of the transfer period in August. That's never been an expectation as much as a hope. I'd say we're still on target with that.

[Red_Pie_At_Night]

I'm expecting a new wave of bullshit come the end of the transfer window.

[Dr. Venkman]

Should we be worried that no interested parties have tested the water with a bid? Broughton seems to suggest that the owners aren't a problem and the club will be sold when a reasonable bid comes in, what's prevented that from happening already?

I know these things take time but its difficult to have genuine belief that the club is up for sale until there is tangible evidence. If we are to believe Broughton I guess that will be in a couple of weeks though.

He seems to be hinting  at a formal process, which said would begin in July, maybe bids were discouraged till then

[Billy1561]

I liked the mention of a new ground to an underbidder, but am not hopeful.

There's a chance anyone willing to risk a few million quid would rather keep Anfield or do a groundshare.

What does that mean?

[redmen77]

I'd love us to be sold by the close of the transfer window.  And I'd love Masch to still be here by the close of the transfer window.

There is some chance that each thing will happen.

But, on the balance of probabilties, come 1 September, G&H will be here and Masch wont.

LFC had to appoint a new manager.  It could not start the season with Sammy Lee in charge.  Assuming new owners come in in October (say) then they arent gonna want to change manager straight away.  The earliest they would do it would be next summer.  In fact, forget October, once the season starts, it'd be pretty difficult to get a new top manager in, since they would all, by definition, already have contracts for 10/11 with clubs or countries.

Possibly one of the delays in announcing the deal was over length of contract.  LFC probably tried to get away with 2 years, and RH probably tried to get 4 or 5.  So they compromised on 3.

Paying him off would not be a  factor which would put off any buyer.  Apart from anything else, he could be given some technical director, or youth team role, to get their money out of him. 

And if he has a good season, then it may be academic anyway.  The new owners may be delighted to keep him.

I agree with your take Jack. In terms of the manager, the club (assuming it is operating normally) have removed Rafa for either the football reasons or he was becoming a pain in the arse to them. Putting in RH or any manager has to independent of the sale. RH takes the risk that a new owner has their own ideas but you would hope that they would take decisions based on his/the teams performance.

One thing I'm still not clear on though Jack is your assumption that their is no reserve price. Surely their must be a limit that even RBS would dismiss and the lowest price would be the outstanding loan to them?

[Lush is the best medicine...]

one thing for jack slater/walton red/any city types - if rbs have forced this, why are barcap involved, surely rbs would do the sale inhouse? or are there legal restrictions on that