£ 350m HICKS AND GILLETT ON BRINK OF LIVERPOOL REFINANCING PACKAGE

[Vlads Quiff]

£ 350m HICKS AND GILLETT ON BRINK OF LIVERPOOL REFINANCING PACKAGE

By Simon Mullock 31/05/2009

KOP THAT: BENITEZ READY FOR CASH INJECTION

Liverpool owners Tom Hicks and George Gillett are set to issue a statement of intent about their long-term commitment to the club by landing a £350million refinancing deal.

Sunday Mirror Sport can reveal that accountants from the Royal Bank of Scotland and Wells Fargo are currently examining Liverpool's financial figures with a view to agreeing a loan package that will ease the pressure on the two Americans.

The move could also bring an improved summer transfer budget for manager Rafa Benitez, who has made Carlos Tevez (right) his No.1 target, but is unable to meet the £25.5m price being asked by the Argentine's owners.

The deal will hinge on Hicks and Gillett pouring more of their own personal finance into Anfield - and the pair are looking to raise funds by selling off some of their other sporting interests in the United States.

Hicks is ready to sell his majority stake in baseball club Texas Rangers while Gillett is searching for a buyer for the ice hockey outfit Montreal Canadiens to generate cash. But with Liverpool set to announce record turnover and increased profits of almost £40m this week, there is increased confidence that the club can easily service a new loan agreement.

An insider said: "Despite claims to the contrary, both owners have spent about £80m of their own money on Liverpool over the past two years.


"They have done so because they are committed to the club and because they always believed a new refinancing package would be agreed.

"The new deal is now very close to happening."

The existing loan taken out to finance the initial purchase of the club is set to expire in July - and there were worries that the credit crunch would force Hicks and Gillett to sell.

But both men have healed the personal rift which saw Gillett trying to find a buyer for his 50 per cent stake in the club. And there was a growing confidence inside Anfield that they could win an extension of the loan facility anyway thanks to the club's profitability.

But now they are on the verge of agreeing a deal that will give them the scope to press ahead with their ambitious plans.

Top of the agenda will be to find investors to fund a new stadium at Stanley Park.

 

[Sheik Yerbouti]

I wonder if they'll have any info on the 'new' ground.

 

[Vlads Quiff]

[quote author=Sheik Yerbouti link=topic=33880.msg879158#msg879158 date=1243756862]
I wonder if they'll have any info on the 'new' ground.
[/quote]

Ha funny you should mention that......I have now pasted the second half of the article that I failed to fully copy earlier :🙂

regards

 

[keniget]

So our investors now need to search for investment.

How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.

 

[Farkmaster]

[quote author=keniget link=topic=33880.msg879160#msg879160 date=1243757794]
So our investors now need to search for investment.

How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.
[/quote]

Not in the economic climate when they took over.

 

[keniget]

[quote author=Farkmaster link=topic=33880.msg879163#msg879163 date=1243758412]
[quote author=keniget link=topic=33880.msg879160#msg879160 date=1243757794]
So our investors now need to search for investment.

How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.
[/quote]

Not in the economic climate when they took over.
[/quote]

I think I was optimistic and hopeful that it was to be a bright new beginning for us like most others, however I do remember being concerned that their deep pockets weren't so deep.

 

[Portly]

[quote author=keniget link=topic=33880.msg879160#msg879160 date=1243757794]
How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.
[/quote]

Seems like a case of being wise after the event. At the time, most fans were keen for Moores to sell his stake in the club to an investor. I don't recall anybody querying the resources of the Americans. They said all the right things, and we all thought they seemed a pretty good choice.

 

[Rosco]

[quote author=Portly link=topic=33880.msg879171#msg879171 date=1243760390]
[quote author=keniget link=topic=33880.msg879160#msg879160 date=1243757794]
How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.
[/quote]

Seems like a case of being wise after the event. At the time, most fans were keen for Moores to sell his stake in the club to an investor. I don't recall anybody querying the resources of the Americans. They said all the right things, and we all thought they seemed a pretty good choice.
[/quote]

Ahem.

I was against them at the beginning. I am less so now.

 

[spider-Neil]

[quote author=Rosco link=topic=33880.msg879253#msg879253 date=1243766126]
[quote author=Portly link=topic=33880.msg879171#msg879171 date=1243760390]
[quote author=keniget link=topic=33880.msg879160#msg879160 date=1243757794]
How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.
[/quote]

Seems like a case of being wise after the event. At the time, most fans were keen for Moores to sell his stake in the club to an investor. I don't recall anybody querying the resources of the Americans. They said all the right things, and we all thought they seemed a pretty good choice.
[/quote]

Ahem.

I was against them at the beginning. I am less so now.
[/quote]


LOADS of people were dead against it from the beginning. goggle presented several cases of them being bankrupt but these stories were quickly sweep under the carpet.
without being a hyprocrite if they present rafa with a massive kitty this summer I'm prepared to give them the benefit of the doubt.

 

[mark1975]

I think me and Ross have said this a few times, it boils down to how much they're willing to back the manager, and when you look at signings like Torres, Keane and Mascherano, it's clear he's being heavily backed, certainly now closer to the top spenders than we were anyway.

Regards the future of the club and how much they're willing to put in themselves, well we're Liverpool, I don't think it's that naive to suggest that we're such a massive, clued up community that we'd never let ANYONE run us into the ground. I think they know that now, they showed levels of mistrust to the point where they were taking the piss out of the club and the people, and you don't do that to Liverpool Football Club.

 

[Rosco]

Nonsense.

Very few people were against it. Everyone couldn't wait to get rid of Moores.

 

[spider-Neil]

[quote author=Rosco link=topic=33880.msg879261#msg879261 date=1243766789]
Nonsense.

Very few people were against it. Everyone couldn't wait to get rid of Moores.
[/quote]

people wanted rid of moores but not for ANYONE. there was meltdown on this (and every other forum) when the arabs pulled out and it was revealed the yanks had picked up the ball. only when the stadium plans were revealed did the majority calm down.

 

[juniormember]

[quote author=spider-neil link=topic=33880.msg879255#msg879255 date=1243766461]
[quote author=Rosco link=topic=33880.msg879253#msg879253 date=1243766126]
[quote author=Portly link=topic=33880.msg879171#msg879171 date=1243760390]
[quote author=keniget link=topic=33880.msg879160#msg879160 date=1243757794]
How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.
[/quote]

Seems like a case of being wise after the event. At the time, most fans were keen for Moores to sell his stake in the club to an investor. I don't recall anybody querying the resources of the Americans. They said all the right things, and we all thought they seemed a pretty good choice.
[/quote]

Ahem.

I was against them at the beginning. I am less so now.
[/quote]


LOADS of people were dead against it from the beginning. goggle presented several cases of them being bankrupt but these stories were quickly sweep under the carpet.
without being a hyprocrite if they present rafa with a massive kitty this summer I'm prepared to give them the benefit of the doubt.
[/quote]

I'm sure they'll be very grateful.

 

[keniget]

[quote author=Rosco link=topic=33880.msg879261#msg879261 date=1243766789]
Nonsense.

Very few people were against it. Everyone couldn't wait to get rid of Moores.
[/quote]

True, but more than a few looked them up on the net and were a little underwhelmed when seeing how much they're worth etc.

Either way, I find it a bit silly that people use this as a stick to beat the fans with.

When it comes to the on the pitch matters, fans are expected to keep shtum and just trust in the manager. Well, in this case they trusted in Moores and Parry and as it happens, that trust ended up being slightly misplaced. So what? Not everyone has studied Business 101 at college .

We did need to get rid of Moores. The fact that we ended up with these two guys just means we made a hash of it.

 

[spider-Neil]

[quote author=juniormember link=topic=33880.msg879268#msg879268 date=1243767077]
[quote author=spider-neil link=topic=33880.msg879255#msg879255 date=1243766461]
[quote author=Rosco link=topic=33880.msg879253#msg879253 date=1243766126]
[quote author=Portly link=topic=33880.msg879171#msg879171 date=1243760390]
[quote author=keniget link=topic=33880.msg879160#msg879160 date=1243757794]
How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.
[/quote]

Seems like a case of being wise after the event. At the time, most fans were keen for Moores to sell his stake in the club to an investor. I don't recall anybody querying the resources of the Americans. They said all the right things, and we all thought they seemed a pretty good choice.
[/quote]

Ahem.

I was against them at the beginning. I am less so now.
[/quote]


LOADS of people were dead against it from the beginning. goggle presented several cases of them being bankrupt but these stories were quickly sweep under the carpet.
without being a hyprocrite if they present rafa with a massive kitty this summer I'm prepared to give them the benefit of the doubt.
[/quote]

I'm sure they'll be very grateful.
[/quote]

and I should think so too.

 

[madmax]

It has always seemed fashionable to bash the two yank, but i really don't think they have been that bad. We could have done without the public drama of their relationship breaking down though.

I see it as a positive that they are willing to sell their other assets to have more interest in liverpool, even if that is purely a business decision with sentiments playing no part.

 

[Skullflower]

ahhh the good old days. when we'd just signed torres and the mega awesome stadium plans came out.

 

[Rosco]

[quote author=keniget link=topic=33880.msg879269#msg879269 date=1243767094]
[quote author=Rosco link=topic=33880.msg879261#msg879261 date=1243766789]
Nonsense.

Very few people were against it. Everyone couldn't wait to get rid of Moores.
[/quote]

True, but more than a few looked them up on the net and were a little underwhelmed when seeing how much they're worth etc.

Either way, I find it a bit silly that people use this as a stick to beat the fans with.

When it comes to the on the pitch matters, fans are expected to keep shtum and just trust in the manager. Well, in this case they trusted in Moores and Parry and as it happens, that trust ended up being slightly misplaced. So what? Not everyone has studied Business 101 at college .

We did need to get rid of Moores. The fact that we ended up with these two guys just means we made a hash of it.
[/quote]

It wouldn't have been much different with DIC. ANd really if you want to blame someone for us ending up with the Yanks, you'd have to blame DIC who delayed over the deal for far too long and then tried to screw shareholders on the price.

 

[keniget]

Why would I blame the DIC?

Moores and Parry searched for investment for a long long time, only to make a big song and dance of handing over the family silver to these two guys.

 

[Skullflower]

[quote author=keniget link=topic=33880.msg879283#msg879283 date=1243767709]
Why would I blame the DIC?

Moores and Parry searched for investment for a long long time, only to make a big song and dance of handing over the family silver to these two guys.
[/quote]

you've got to give moores credit, though. he 'looked tom hicks in the eyes' before handing it over.

 

[spider-Neil]

to be fair to the yanks I was completely and utterly blown away by the designs of the stadium. amazing.

 

[Skullflower]

[quote author=spider-neil link=topic=33880.msg879287#msg879287 date=1243767828]
to be fair to the yanks I was completely and utterly blown away by the designs of the stadium. amazing.
[/quote]

they were totally stunning. shame it was all foreplay.

 

[Jürgen4PM]

[quote author=Skullflower link=topic=33880.msg879284#msg879284 date=1243767793]
[quote author=keniget link=topic=33880.msg879283#msg879283 date=1243767709]
Why would I blame the DIC?

Moores and Parry searched for investment for a long long time, only to make a big song and dance of handing over the family silver to these two guys.
[/quote]

you've got to give moores credit, though. he 'looked tom hicks in the eyes' before handing it over.
[/quote]

Haha

 

[keniget]

[quote author=Skullflower link=topic=33880.msg879284#msg879284 date=1243767793]
you've got to give moores credit, though. he 'looked tom hicks in the eyes' before handing it over.
[/quote]

Haha...

Ah well.

 

[Vlads Quiff]

To be fair, Hicks seems pretty determined to stick with it. He could have made a fast buck and run if he had been so inclined.
He (they) seem to see a long term investment in this.
I do also have some sympathy with them, the timing of the credit crunch has fucked them up a bit.
Still, we shall see what happens moving forward.
If they can get the finances bottomed out with the banks. right now would be a pretty good time to nail the stadium contract.



regards

 

[cochyn]

I never wanted to get rid of moores, but did understand that we needed further investment to keep up.
To be begin with i was not bothered with the yanks, but disappointed that DIC came to nothing. Latter on i wanted to see the back of the yanks due to the way they conducted business and the board room battles and the battles with benitez were embarrassing for the club, most of this year i am mildly impressed at the way they have kept mainly quiet other than the occasional bit of supportiveness to the club verbally.
The current climate makes the delivery of such an enormous project virtually impossible, nobody in there right mind would try and deliver it at the moment even if they had a bottomless pit.
I am now kind of ambivalent about Hicks and Gillette providing they can keep supporting the club and keep any battles they may have in the future out of the press!!

 

[Wizardry]

[quote author=spider-neil link=topic=33880.msg879255#msg879255 date=1243766461]
[quote author=Rosco link=topic=33880.msg879253#msg879253 date=1243766126]
[quote author=Portly link=topic=33880.msg879171#msg879171 date=1243760390]
[quote author=keniget link=topic=33880.msg879160#msg879160 date=1243757794]
How in the fuck did Moores and Parry sell to these two? It was obvious from a quick google search that with less than a £1bn between them, a £300M project was always going to be a bit of a stretch.
[/quote]

Seems like a case of being wise after the event. At the time, most fans were keen for Moores to sell his stake in the club to an investor. I don't recall anybody querying the resources of the Americans. They said all the right things, and we all thought they seemed a pretty good choice.
[/quote]

Ahem.

I was against them at the beginning. I am less so now.
[/quote]


LOADS of people were dead against it from the beginning. goggle presented several cases of them being bankrupt but these stories were quickly sweep under the carpet.
without being a hyprocrite if they present rafa with a massive kitty this summer I'm prepared to give them the benefit of the doubt.
[/quote]

I think the your time frames on this are way out Spider. There were very few people against this when it came through. Their were a couple of questions as to whether they had deep enough pockets - in light of the group that they beat to the purchase. However, it wasn't until several months later that people started making statements about their apparent troubles in other areas - notably these same people were fully paid members of DIC.

I actually thought Ross was more in favour of them than DIC as well and I certainly was. I still am and would love to see all those "experts" who were shouting me down a few months ago when I said they'd have no huge problems continuing their financing. I also note that not many are mentioning the statement that they've each put in more than 80m of their own money. I guess that doesn't work for you if you want everyone to believe they've tried to suck the club dry.

The only group I favoured above them was Kraft - to this day I'd still like to see him come in but it grows less likely with every week. As far as I'm concerned every other group that's been mentioned can piss off with their slave trading, money laundering backgrounds.

 

[Avmenon]

Much of the bitterness is to do with the stadium not being built,I guess.

We're 'going to build that sucker'.

Yeah,Tom.