Liverpool Takeover Thread
- Thread starter antijoke
- Start date
I love the way they're trying to argue that there's no hurry to hear the case and it should be heard next week
Where are you following this BaZ87, is there somewhere to follow the proceedings live at all?
Never mind, just found that it can be followed here: http://www.guardian.co.uk/football/blog/2010/oct/12/liverpool-fc-rbs-hicks-gillett-john-w-henry
Providing the legal hearings go to plan, it won't make a difference. NESV have signed an agreement with the board already.
Regarding this other bid though; in effect it's the same as what NESV have offered but with an additional £20m in working capital and a pledge to spend upto £40m on transfers (NESV haven't confirmed any figure regading transfers). Crucially this offer doesn't benefit H&G in any way over NESV's offer and hopefully can't cloud the waters regarding the hearings taking place.
The one thing that bothers me about Lin's offer is that it doesnt mention anything regarding a new stadium which is something we must get asap!
"The proposal represents a total investment of £360m. The offer values the Club at £320m. A further £40m will be made available to purchase new players.
Like the previous offer tabled by Mr Lim, the new offer is entirely in cash and will remove the entire acquisition debt of £200m taken on by the existing owners that has cast uncertainty over the Club's future.
The new offer also includes a cash investment of £120m. Of this:
£40m cash is to be allotted specifically to fund player purchases during the upcoming transfer window as the immediate priority is to ensure that the squad is strengthened for the remainder of the season. The balance of £80m will pay off all the Club's bank debt, the fees and interest accruing on the bank debt, and provide additional working capital for the Club."
"The proposal represents a total investment of £360m. The offer values the Club at £320m. A further £40m will be made available to purchase new players.
Like the previous offer tabled by Mr Lim, the new offer is entirely in cash and will remove the entire acquisition debt of £200m taken on by the existing owners that has cast uncertainty over the Club's future.
The new offer also includes a cash investment of £120m. Of this:
£40m cash is to be allotted specifically to fund player purchases during the upcoming transfer window as the immediate priority is to ensure that the squad is strengthened for the remainder of the season. The balance of £80m will pay off all the Club's bank debt, the fees and interest accruing on the bank debt, and provide additional working capital for the Club."
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For him to have even got in a position to bid for the club last week he would have already had to show a commitment towards the stadium project.
Update:
"Despite his new offer, Lim's chances of buying Liverpool are slim. Lim is only likely to gain control of Liverpool if Hicks loses in court and RBS put the club into administration or NESV choose to pull out. NESV's agreement with the LFC board is legally binding, so a higher bid cannot be accepted. Lim might also try to offer Hicks the funds needed to pay off the debt and take control surreptitiously, although this would seem like a very risky strategy."
So if things go to plan then, we WILL be owned by NESV.
"Despite his new offer, Lim's chances of buying Liverpool are slim. Lim is only likely to gain control of Liverpool if Hicks loses in court and RBS put the club into administration or NESV choose to pull out. NESV's agreement with the LFC board is legally binding, so a higher bid cannot be accepted. Lim might also try to offer Hicks the funds needed to pay off the debt and take control surreptitiously, although this would seem like a very risky strategy."
So if things go to plan then, we WILL be owned by NESV.
As i understand, Hicks and co are arguing that whilst in breach of contract, its still their legal right to change the board as they see fit. So in doing so MB and co had no rights to accept the bid from NESV. In doing so, Hicks is at the mercy of RBS thought due to this contract breach and are arguing that RBS must call in the loan or something as 'punishment'.
All in all, seems he wants us to get 9 points deducted as a 'leaving present'
-edit-
Its worth noting that similar crap happened with his US team which finally got auctioned off, delay tactics .. admit to breaking contract, get hit again financially as punishment, invent a 'fake' bidder .. oops, deal fell through! Etc .. delay delay delay
All in all, seems he wants us to get 9 points deducted as a 'leaving present'
-edit-
Its worth noting that similar crap happened with his US team which finally got auctioned off, delay tactics .. admit to breaking contract, get hit again financially as punishment, invent a 'fake' bidder .. oops, deal fell through! Etc .. delay delay delay
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Man of Honour
Aye, a somewhat bitter riposte. There's that old saying about very rich men, you can bum their mothers and they won't care, but you go into the wallets...
Haven't the FA already said they won't penalise Liverpool 9 points if they go into administration?
Soldato
I don't think that's an option in this case. The English legal system won't allow for a drawn out process. It's case, appeal, ruling, over in a matter of days.
They're sitting on the fence for now, though I have a feeling we might be because the other PL clubs would see it as bias if we didn't.
I on the other hand (although obviously I am bias being a Liverpool fan) see as punishment for nothing. We'd be in administration for a matter days possible even only hours.
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