Liverpool Takeover Thread

[Pigeon_Killer]

http://www.independent.co.uk/sport/...ns-make-last-bid-to-keep-control-2098952.html

But as of yesterday afternoon Hicks and Gillett, whose contribution to Liverpool's London board meeting came via a conference call, possibly from Texas, considered managing director Christian Purslow and commercial director Ian Ayre to be suspended. The Americans are attempting to replace these two individuals, who with executive chairman Martin Broughton want one of the bids to be accepted, with Mack Hicks, Tom Hicks' son, and Lori Kay McCutcheon, a vice-president at Hicks Holdings.

The Independent understands that the non-American board members believe that Hicks and Gillett do not have the right under the Companies Act to remove Purslow and Ayre. The international law firm Slaughter & May, engaged by Broughton in June, had already begun work last night to prove this point. That legal battle is critical.

Broughton believes that if his lawyers can establish the illegality of the suspensions, then they also have the power to force through whichever of the two new bids they consider the best. Both bids, which are believed to value the club in the region of £300m, would mean Hicks and Gillett walking away with nothing in return for the investment they have put into the club.

Looks like it'll all be decided on whether Purslow and Ayre are removed or not.

 

[Stretch]

http://www.independent.co.uk/sport/...ns-make-last-bid-to-keep-control-2098952.html

Looks like it'll all be decided on whether Purslow and Ayre are removed or not.

Indeed, I hope they get what's coming to them.

 

[BaZ87]

Even if H&G can find a way of removing Purslow and Ayre from the board, they've then got the small matter of finding ~£280m to pay the banks by next Friday.

 

[Alpherah]

Purslow, MB and Ayre must have known this was likely to happen?
Wouldnt surprise me if they don't have legal people working on this for weeks.

 

[Greenlizard0]

It appears one of the bidders is John W. Henry, owner as said above of the Boston Red Sox.

 

[cheets64]

http://www.youtube.com/watch?v=RO55BazkiZ4

Christ, its a business end of, sad to see 2 greats owned by yanks.

Least Man City has moneh

 

[FeFiDoh]

Starting to feel sorry for the liverpool fans, I know I would be livind.

I know there are rivalries but this should not be going on. You have two complete morons that have no real intentions to do anything other than take a fat profit and leave.

It's quite disgusting the manner they keep on.

 

[Mr_White]

http://www.liverpoolfc.tv/news/latest-news/board-agree-proposed-sale

Liverpool Football Club today announces that the Board has agreed the sale of the Club to New England Sports Ventures (NESV).

New England Sports Ventures currently owns a portfolio of companies including the Boston Red Sox, New England Sports Network, Fenway Sports Group and Rousch Fenway Racing.

Martin Broughton, Liverpool FC Chairman, said:

"I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive. The Board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner. NESV's philosophy is all about winning and they have fully demonstrated that at Red Sox.

"We've met them in Boston, London and Liverpool over several weeks and I am immensely impressed with what they have achieved and with their vision for Liverpool Football Club.

"By removing the burden of acquisition debt, this offer allows us to focus on investment in the team. I am only disappointed that the owners have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale."

Note to editors:

The sale is conditional on Premier League approval, resolution of the dispute concerning Board membership and other matters.

Wow... we might actually be rid of cancer and aids.

 

[Weebull]

Bimey, it's all been kicking off while I slept hasn't it. Looks like it's popcorn time.

 

[DanH84]

Gonna be interesting in here today!

 

[msmalls74]

A bit more info about the company (if it goes through)

Who are New England Sports Ventures?

The parent company of the Boston Red Sox baseball team, its Fenway Park stadium, a NASCAR racing team and the New England Sports Network TV channel.


Sport on television John W. Henry, a 61-year-old billionaire who co-founded the company in 2001, remains principal owner. The publishers of The New York Times own about 16 per cent.


How much money do they have?

The company is estimated to be worth about $1.5 billion (£943 million), with the majority of value lying in the Red Sox. The team, ranked the 10th most valuable brand in world sport by Forbes magazine, made about $40 million (£25 million) profit last year.

Henry’s fortune has declined slightly in recent years. After being estimated to have $1.1 billion in 2009 he did not make this year’s Forbes billionaire list.


How have they made their money?

Henry, the son of an Arkansas farmer, used his knowledge of crops to start betting on whether the price of things such as soya beans and corn would rise or fall.

He moved on to other commodities futures and at 32 founded John W. Henry & Co, a successful investment company based in Florida.

As well as its sports clubs, New England Sports Ventures boosts profits by selling fan photos, online advertising space for rival baseball clubs and consulting services for firms including Dunkin’ Donuts.


Why are they keen to invest in Liverpool?

Liverpool remain one of Britain’s best-supported clubs, with a huge world-wide fan base. The Premier League has an increasing following in the US.

Henry has shown he knows how to run a team with famously passionate supporters.

He could well see the potential for profits in a club which, like the Red Sox, is based in a stadium that it has outgrown and has repeatedly sought to expand or move from. He would probably also use the company’s other ventures to exploit players’ image rights.


What makes them different from the current owners?

It appears unlikely that Henry’s takeover, if successful, would lumber Liverpool with as much debt as the current owners, Tom Hicks and George Gillett, did.

When New England Sports bought the Red Sox in 2002 the $700m (£440m) it paid included $40m (£25m) to mop up its existing debts.

 

[Mr_White]

From a Red Sox fan over on TLW

As a fan of the Red Sox, I can say I'm mostly happy about this deal. Henry has had some financial difficulties with some of his companies in the past few years, but nothing crippling, and has presided over the best period of Red Sox baseball since the turn of the century (turn of the 20th that is).

Overall, it's a massive stepup. The Red Sox have been outbid by other teams for some pretty marquee free agents (Mark Teixiera pops to mind) but they're always a major factor with the free agent (transfer) market. Also, he's been very shrewd about getting the club to actually make money. The Red Sox have the second highest payroll in baseball (30 teams) and that's including some markets that are much bigger than Boston, such as Los Angeles, Chicago etc. So I'd be surprised if he was suddenly shy about splashing some cash for players. He has two championships in a decade, and the teams had some major roster turnover (2004 to 2007) and won regardless. His manager, Theo Epstein, gets a ton of (deserved) credit for being pretty brilliant, and so it's anyone's guess if Henry knew that when he hired him or got lucky.

Anyways, I have no clue how this will translate to football from baseball, just throwing some basic facts for anyone who has no clue about the group or John Henry.

 

[Biz.Kid09]

More American owners ..that really the best thing?

 

[DanH84]

Sounds alright to be fair. Knows his sport, willing to invest but not a sugar daddy so they'll live within their means. It's probably more tempting for someone like tem to but now the Ffp are coming in.

 

[Tombstone]

On the plus side, they know how to handle a team which hasnt won a title in a long time (Red Sox very famously had not won the world series for 86 years before they bought them). On the negative side, its still people who arent familiar with how football works, still americans (who generally have a lopsided view of the sport of soccer anyway), and still an unknown quantity (ie. we've heard claims of new owners before).

We'll see how it goes. Henrys partner is Tom Werner and he is a very very business savvy man indeed. So thats another plus.

Its a good deal for them too as it all ties in very nicely with their "red" themed sporting franchises..who knows, maybe we will be renamed the Liverpool Red Socks.

Wonder what the fans will do with all the scarves and banners which say "Thanks but no Yanks"...given that its more yanks hehe

 

[Weebull]

I got the impression last night that these bids had only just appeared, but if they've done a "thorough and extensive" process to check them, they've clearly been ongoing for a while, haven't they? Things just came to a head last night with the board's choice to accept.

 

[antijoke]

I couldn't care less if they are American, as long as they do the right thing by the club!

But I would like to think that before any deal is done that we get an insight as to how things will be if this deal goes through.

I would like to know how they will invest in the squad/build a new stadium. What the long term plans are.

We've been sold down the river once before, and I do not want it to happen again.

 

[Saviola]

They have done wonders for the Red Sox. They have improved them on and off the field. I am far happier to be owned by such a venture than to be bankrolled by a 'sugar daddy'.

On the subject of owners and knowing anything about football. How many top clubs have owners that know anything about football? Answer probably is as close to none as you can get They do however employ people that do, Football Clubs are businesses (like it or hate it) so it makes sense that people with Business acumen own them.

 

[Stretch]

Agreed. There is very little information on what investment these owners are planning to make. I can't see it being a worthwhile acquisition without building a new stadium and regular champion’s league football though.

I would want reassurances that they're not in it to make a quick profit by selling the club on a year or two. They probably have got a good price (£300m) for the club and it would be perfectly possible for them to do so.

More American owners ..that really the best thing?

Probably not, I would much prefer some Middle Easten despot who got rich by chance owning the club.

You never know, maybe City might find the secret to winning silverware buried under the City of Manchester Stadium. All they need to do is drill down and pump it out

 

[dannyjo22]

Seriously what business would bother buying a club unless they want to use it to borrow or they are laundering money.

You really think one lot of yanks is going to be better than the ones you have or Manu have. The only way to be competitive right now is to spend more than you earn. I can't see this bunch of yanks wanting to do that anymore than the last ones.

Fans are idiots, they want 'businessmen' to come in and throw money at the clubs regardless of whether the sums add up and then want them out when they won't spend 30 million on the latest players.

Whats happened to Leeds and Liverpool should be a big wake up call for fans and teams but the reality is no one cares, they demand success and cannot understand why they are not huge anymore.