They said it was unlikely, not impossible.
Liverpool Takeover Thread
- Thread starter antijoke
- Start date
They said it was unlikely, not impossible.
From H&G's point of view, this offer is no better than NESV's offer or Lim's previous offer.
The extra £20m he's offering is to be injected into the football club, not towards paying back H&G's directors loans. In no way will H&G benefit from this increased offer.
I am slighly sceptical of Lim's offer anyway. It comes across very unprofessional for him to even make a bid after NESV's bid has already been accepted, let alone to make an offer while the legal case is ongoing and most importantly to make his bid so publically.
Short answer: Yes.
Long answer: Yes, but then they said maybe not, but maybe they didn't actually say that, but nobody has come out since then to say for certain, so maybe. Or not.
Yeah, it's just that before the size of the offer was revealed, it was supposed that H&G's solicitors might try to use the fact there was a rival bid as showing that Broughton had simply accepted the first offer to come along, rather than the "best", which was their contracted requirement, I believe. That they're both near the same amount pretty much ruins that argument.
It does smack a bit of grandstanding doesn't it? His bid wasn't chosen after the normal private selection process, so now he's trying to win the fans over with some airy public promises of £40m (or £80m?) of player investment, rather than just accept he lost out.
That's just what we're saying though. The bids are actually nearly identical, so any claim in that regard surely shouldn't hold much water?
Company GG took out, and defaulted on, loans from earlier this year and secured against LFC.
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Also.
"Representative for Hicks and Gillett claims case against them paints 'misleading picture of the issues'. This case is not about, he says, the owners trying to maintain their ownership of the club. They accept reality that their ownership will shortly come to an end. It's also not about owners trying to put spanner in the works regarding a sale. The owners accept that some sort of sale will have to occur. They are not intent on stopping sale to NESV. The owners' issue is that the board did not properly enter into the NESV agreement in that the directors did not properly consider alternative offers and so it is they who are in breach of the terms of the sale agreement with RBS."
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Also.
"Representative for Hicks and Gillett claims case against them paints 'misleading picture of the issues'. This case is not about, he says, the owners trying to maintain their ownership of the club. They accept reality that their ownership will shortly come to an end. It's also not about owners trying to put spanner in the works regarding a sale. The owners accept that some sort of sale will have to occur. They are not intent on stopping sale to NESV. The owners' issue is that the board did not properly enter into the NESV agreement in that the directors did not properly consider alternative offers and so it is they who are in breach of the terms of the sale agreement with RBS."
H&G QC: Bid by Mill Financial (hedge fund who now own G's shares) would pay off all debt and committ to 100m on new stadium
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Anyone who was willing to deal, in any capacity, with these two yanks earlier this year is no way ideal owners for LFC
A training legal-boffin sat next to me just said he thinks Hicks is trying to pull a 50/50 ownership with Mill
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Anyone who was willing to deal, in any capacity, with these two yanks earlier this year is no way ideal owners for LFC
A training legal-boffin sat next to me just said he thinks Hicks is trying to pull a 50/50 ownership with Mill
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The Mill Financial offer is/was:
"The offer includes repaying all debts and putting £100m towards the new stadium. Mill Financial took over some of Gillett's stake. Mill Financial were meant to meet Broughton last Thursday to discuss a possible takeover but it was cancelled. Hicks and Gillett's representative wants to know why this meeting was cancelled. Mill Financial remain interested in buying Liverpool."
H&G wonder why the board arent interested in the bid....perhaps something to do with Gillett still being involved with the club!
Also: (source: http://www.anfield-online.co.uk/lfc-news/2010/hicks-and-mill-financial-fighting-a-losing-battle/)
It is believed that George Gillett has defaulted on his £75M loan, meaning that Mill Financial have now mopped up his 50% share in Liverpool Football Club.
This goes some way to the understanding from last week’s board meeting in which Hicks attempted to sack Purslow and Ayre, and replace with two of his cronies, his son Mack and a colleague in Hicks Holdings.
It is understood that Mill Financial is attempting to find the money required to pay off RBS £280M loan to allow Hicks to remain in control of Anfield.
"The offer includes repaying all debts and putting £100m towards the new stadium. Mill Financial took over some of Gillett's stake. Mill Financial were meant to meet Broughton last Thursday to discuss a possible takeover but it was cancelled. Hicks and Gillett's representative wants to know why this meeting was cancelled. Mill Financial remain interested in buying Liverpool."
H&G wonder why the board arent interested in the bid....perhaps something to do with Gillett still being involved with the club!
Also: (source: http://www.anfield-online.co.uk/lfc-news/2010/hicks-and-mill-financial-fighting-a-losing-battle/)
It is believed that George Gillett has defaulted on his £75M loan, meaning that Mill Financial have now mopped up his 50% share in Liverpool Football Club.
This goes some way to the understanding from last week’s board meeting in which Hicks attempted to sack Purslow and Ayre, and replace with two of his cronies, his son Mack and a colleague in Hicks Holdings.
It is understood that Mill Financial is attempting to find the money required to pay off RBS £280M loan to allow Hicks to remain in control of Anfield.
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NESV offer was accepted before thursday though. We had two offers.. two, no more no less. We picked one. Then Hicks throws the toys out of the pram and suddenly some glorified loan-shark of a company is in the mix? Wouldnt surprise me if H+G had some sort of deal in place with Mill Financial to allow them some contol of the club still, but it came too late and are now going to argue that accepting NESV was rushed.
H&G's representatives: "Claims there was no meeting of the Kop Holdings board to discuss NESV deal and this should have happened. 'This was a matter for the Kop Holdings board and the entire board.' (ie it should have included Hicks and Gillett) Claims that this in itself is a breach of the sales agreement "
From court: "Owners have no idea what happened after 4.30pm on 5 October, according to their rep, and were not kept informed by the board thereafter."
H&G's representative in court: "Claims Meriton wrote letter to Hicks and Gillett on Friday evening asking 'what was going on' regarding their takeover bid."
From court: "Owners have no idea what happened after 4.30pm on 5 October, according to their rep, and were not kept informed by the board thereafter."
H&G's representative in court: "Claims Meriton wrote letter to Hicks and Gillett on Friday evening asking 'what was going on' regarding their takeover bid."
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That's their point. It was a meeting scheduled for the thursday, not a bid, so presumably they're saying that the board knew there was another prospective offer/takeover, and dismissed it without consideration.
Looks like this could get interesting.
The meeting to discuss the bids and select a preferred bidder was Tuesday. Shortly before the meeting was due to start Hicks phoned the board, sacked Ayres and Purslow, hung up and never returned.
It's claimed that Mill Financial wanted a meeting on Thursday however by this point the NESV bid had already been accepted.