LFC SOLD to NESV.

[El Pistolero]

Re: Merged Topics: Club Refinance Thread

[quote author=Vlads Quiff link=topic=41783.msg1177023#msg1177023 date=1284856942]
I think it's desperation and all bluster and bluff by Hicks to try and salvage something.

I really can't see anyone lending that sort of money to Hicks in the present climate, as the way things are going the value of the club could well plummet below the £280m he is looking for, it's too much of a risk. His mate Shwartzman is playing along to help him out.

I hope I am right -

regards
[/quote]

Vlad, I really think we are in the shit, the story has probably been leaked by board members it's to detailed and the story has been in most papers. Banks don't give 2 fucks as long as there intrest payments are made. They still have a saleable asset, even if the price plummets after 12 months they probably will have covered that in the intrest payments anyway.

 

[Vlads Quiff]

Re: Merged Topics: Club Refinance Thread

[quote author=Redshrek link=topic=41783.msg1177024#msg1177024 date=1284857375]
[quote author=Vlads Quiff link=topic=41783.msg1177023#msg1177023 date=1284856942]
I think it's desperation and all bluster and bluff by Hicks to try and salvage something.

I really can't see anyone lending that sort of money to Hicks in the present climate, as the way things are going the value of the club could well plummet below the £280m he is looking for, it's too much of a risk. His mate Shwartzman is playing along to help him out.

I hope I am right -

regards
[/quote]

Vlad, I really think we are in the shit, the story has probably been leaked by board members it's to detailed and the story has been in most papers. Banks don't give 2 fucks as long as there intrest payments are made. They still have a saleable asset, even if the price plummets after 12 months they probably will have covered that in the intrest payments anyway.
[/quote]

"As long as they get their interest payments made" is the key issue.
The interest payments are going to be even bigger than the ones they have been struggling to pay for the last few years and revenue is going backwards , and unless the team qualifies for the CL will continue to do so at an increasing rate. The only way LFC will look anything like a safe borrower is if money is spent improving revenue, ie making funds available to compete, as it stands It adds up to a very risky loan and one that any bank with a modicum of sanity would not consider.
There are more outgoings than in-comings, RBS have already shit their pants, no one else is going to make the same mistake.
If they did default it leaves the bank in the unenviable position that RBS find themselves in now, but in a much much more difficult position.

regards

 

[localny]

Re: Merged Topics: Club Refinance Thread

If this looks like it will goes through, all home games have to be boycotted. SOS, RAWK, everyone needs to realize this is our only option at this point. As long as Hicks owns the club, we'll never attend another game. Let's see if the refinancing goes ahead with no game day stadium revenue.

 

[Wilko7]

Re: Merged Topics: Club Refinance Thread

Most tickets have already been paid for regardless of whether people turn up or not.

 

[Terrier]

Re: Merged Topics: Club Refinance Thread

Vlad, this Blackstone company precisely fits our scenario, so I wouldn't dismiss it just yet.

Whilst it would still be deemed a risky loan, you can be sure Hicks has laid down guarantees in the form of our biggest assets - our star players. Torres, Gerrard, Cole, Johnson would raise us close to 100m...Anfield easily the rest.

 

[Wilko7]

Re: Merged Topics: Club Refinance Thread

[quote author=Terrier link=topic=41783.msg1177037#msg1177037 date=1284871554]
Vlad, this Blackstone company precisely fits our scenario, so I wouldn't dismiss it just yet.

Whilst it would still be deemed a risky loan, you can be sure Hicks has laid down guarantees in the form of our biggest assets - our star players. Torres, Gerrard, Cole, Johnson would raise us close to 100m...Anfield easily the rest.
[/quote]

You think Anfield is worth 200m?

 

[zlatan18]

Re: Merged Topics: Club Refinance Thread

FUCK!

 

[LeTallecWiz]

Re: Merged Topics: Club Refinance Thread

some pleasant reading ... >🙁 ... fuck, it seems like doom and leeds, i mean gloom.

On the eve of Liverpool's clash with Manchester United, the depth of the crisis now threatening Anfield has seen Hicks plan to buy out George Gillett and refinance the Royal Bank of Scotland debt, effectively taking full control of the club.

Hicks reportedly outlined his plans to use Blackstone, a private equity firm, to refinance, but the deal could see Liverpool end up with debt far greater than Manchester United.

"It is sure to lead to extortionate interest rates, which will leave Liverpool more in hock than ever before,'' a banking source told ESPNsoccernet. ''It is a recipe for disaster for the club but it would give Hicks the time he needs to sell the club for the price he is trying to get."

The fans, though, are beginning to fear the worst for Liverpool and 'The Spirit of Shankly' fans group have seen documents which make worrying reading for the Anfield faithful.

''The Spirit of Shankly Supporters' Union have received information regarding Barclays Capital and the state of Liverpool Football Club's finances over the Summer of 2010,'' an e-mail from the group read. ''While the original copy document is not in the Union's possession, a full and accurate copy of it has been made.

''The document throws up many questions about the public messages coming from Martin Broughton, the Club and Barclays Capital underlining again that Liverpool Football Club teeters on the edge of a financial abyss.''

The group have highlighted some main points, which show the full extent of the financial situation at Liverpool, including the fact that, in the period July to August, the club's debt was increased by £20.8 million. Also, they have revealed that the sum currently required to refinance the club (£300 million) can be reduced to £187.5 million through using the proceeds of a £75 million loan to the holding company in Delaware and by rolling £37.5 million into the proposed loan for the new stadium

ESPNsoccernet understands that Liverpool's board will attempt to attempt to block Hicks' efforts to remain in control at Anfield, but could be powerless if the Texan refinances.

''If Blackstone's GSO [a specialist off-shoot that deals with companies in big financial trouble], lent Hicks the money, it is like buying a lottery ticket for Hicks,'' the source added. ''If the term is two years, or anything up to five years, he has bought that time to find a buyer at the terms he wants.

"For Liverpool it would mean bigger interest fees, bigger interest repayments, and by the end of the term, Blackstone's could end up owning the club and Hicks would have to walk away, if he cannot find a buyer.

''If Hicks extends his control by pulling off this refinancing then Liverpool will become the next Leeds United.''

 

[Avmenon]

Re: Merged Topics: Club Refinance Thread

This is extremely bad news; I was confident that there's no way in hell RBS would refinance contrary to rage's views...but there was always the chance that some American junk bond nincompoop might stump up.

Hopefully this doesnt pan out.

The good thing is that for the moment, the board are fighiting tooth and nail.

The bad thing is that will just lead to a bunch of lawyers fighting it out.

 

[Squiggles]

Re: Merged Topics: Club Refinance Thread

I'm very, very worried about our football club.

You can't realistically refinance this club. We're losing money. Refinancing will make us lose even more money, and we have owners who are also losing money on their other assets. It's fucking dumb, and I'd be staggered and appalled for it to happen in a credit crunch.

 

[Woland]

Re: Merged Topics: Club Refinance Thread

The board seem to think they have legal grounds to oppose refinancing so let's hope that's how it goes.

 

[My_Blood_Bleeds_Red]

Re: Merged Topics: Club Refinance Thread

Surely with the amount of hatred amassed by Hicks, someone would have found out the exact coordinates of his residency by now.

 

[Hansern]

Re: Merged Topics: Club Refinance Thread

I was thinking the same. How difficult can it be to get rid of the fucker.

 

[Avmenon]

Re: Merged Topics: Club Refinance Thread

[quote author=crump link=topic=41783.msg1177058#msg1177058 date=1284881370]
The board seem to think they have legal grounds to oppose refinancing so let's hope that's how it goes.
[/quote]

I would say they do though; whilst the directors first duty is to their shareholders if the shareholders actions appear to be extremely detrimental to the club as a going concern I would imagine they could do something about it.

But the 'something' would probably just be an injunction which would be contested by all parties.

 

[the count]

Re: Merged Topics: Club Refinance Thread

going into recievership and being given a nine point deduction almost sounds attractive now.

 

[Hansern]

Re: Merged Topics: Club Refinance Thread

I was left fuming when I read this news this morning, and couldn't get anymore sleep actually cause it's so fucking frustrating to read.

Hopefully this is the last desperation from a man who knows he going down. I honestly can't see Blackstone refinancing in this current climate, and not to someone in Hicks position even though they are mates.

If this happens, Liverpool Football Club is finished.

 

[keniget]

Re: Merged Topics: Club Refinance Thread

If Hicks refinances, would he get rid of Ayre and Purslow as a thankyou for the opposition?

 

[Holle]

Re: Merged Topics: Club Refinance Thread

[quote author=keniget link=topic=41783.msg1177086#msg1177086 date=1284885314]
If Hicks refinances, would he get rid of Ayre and Purslow as a thankyou for the opposition?
[/quote]

Definitely. Our board will be bejewelled with some of the finest cunts the world has to offer.

 

[Molbystwin]

Re: Merged Topics: Club Refinance Thread

If as It seems it is a bail-out by one of his mates then it is pure bad news, more expensively borrowed money to give him yet another opportunity to find a buyer at his ridiculous asking price. If it comes about that he manages to do it in effect we will have a club starved of investment for the foreseeable future which will probably be truly catastrophic. Mid table might look appealing in a couple more years down this road. I really cannot see anything good in the current scenario and I truly hope the board can prevent what could well be a fatal blow to the club. We are struggling to get by as it is for gods sake, this loan is not for our benefit it is purely so Hicks can get out with a profit and he is willing to gamble with our future to do it. A gamble he can't win.

It is senseless harmful greed and it won't work but it will fuck is for years to come.

 

[Sheik Yerbouti]

Re: Merged Topics: Club Refinance Thread

Am I missing something here? He could borrow money off the Queen of fucking Sheeba for all it matters but if the Board feels it would be to the detriment of the club then they can tell him to do one.

 

[Y1]

Re: Merged Topics: Club Refinance Thread

The real question to ask is who is the Board answerable to?

Normally it is the shareholders unless there is a clause somewhere the Board was appointed by the bank (which means efectively the club is already under receivership and administration appointed by the creditor). If not, Hicks as the majority shareholder calls the shot as long as he can raise the cash to takeover, pay the banks etc etc.

I am afraid it looks grim.

 

[Sheik Yerbouti]

Re: Merged Topics: Club Refinance Thread

Press in 'Let's print a load of sensationalist shite on the evening/morn of an important Liverpool game and get everyone's back up'shocker.

 

[Molbystwin]

Re: Merged Topics: Club Refinance Thread

[quote author=Sheik Yerbouti link=topic=41783.msg1177114#msg1177114 date=1284888742]
Press in 'Let's print a load of sensationalist shite on the evening/morn of an important Liverpool game and get everyone's back up'shocker.
[/quote]

Lol. Yes .... Fuck it I hate mancs .... I still will when were in the conference!

 

[ragehard]

Re: Merged Topics: Club Refinance Thread

he wants to bring his son back according to the guardian.

i don't think this is a press wind up on the day of a big game.

the last course of action we have is mass fan walkout and it needs to start at the next home game prior to the refinancing being complete.

if we as fans don't act then we are just as responsible as the banks that lend the money.

 

[Terrier]

Re: Merged Topics: Club Refinance Thread

Hicks could simply sack the board and bring in a bunch of highly paid yes men.

The rumours suggesting the return of his son imply he's up to something.

 

[Holle]

Re: Merged Topics: Club Refinance Thread

If he could simply sack the board I guess he would have done that a while ago?

 

[Rafiagra]

Re: Merged Topics: Club Refinance Thread

We're fucked as a club if this bastard remains in control.

Our best players will want to leave and no-one will want to join.

I think we have to have mass protests at every match. Additionally, it is going to have to take someone at the club to stand up to the owners in a public way. And that man is Kenny Dalglish

 

[Judge Jules]

Re: Merged Topics: Club Refinance Thread

[quote author=Sheik Yerbouti link=topic=41783.msg1177094#msg1177094 date=1284886340]
Am I missing something here? He could borrow money off the Queen of fucking Sheeba for all it matters but if the Board feels it would be to the detriment of the club then they can tell him to do one.
[/quote]

Indeed, if the debt to RBS is owed by the club rather than by Fat Boy himself. Besides, this article and numerous previous reports have all suggested it's the club itself which he wants to put up as collateral anyway. If that's right, the board has already done as you say on previous occasions when he's tried something similar. At the very least they could go to law over it, and that would hardly be likely to be over and done with in the two and a half weeks before October 6th.

 

[localny]

Re: Merged Topics: Club Refinance Thread

[quote author=ragehard link=topic=41783.msg1177119#msg1177119 date=1284889539]
he wants to bring his son back according to the guardian.

i don't think this is a press wind up on the day of a big game.

the last course of action we have is mass fan walkout and it needs to start at the next home game prior to the refinancing being complete.

if we as fans don't act then we are just as responsible as the banks that lend the money.
[/quote]

agreed

 

[localny]

Re: Merged Topics: Club Refinance Thread

sorry to bring this back up, but our owner is getting ready to give us one hell of a rogering with this refinancing..

I feel the only course of action left is for fans to boycott attending the matches to force him out.

See how much refinancing comes of this, if there's no stadium revenue - and if necessary, no-one watching it on the telly.

Am I mad?

We really can't be passive in this. Otherwise, if he gets this refinancing, we are going down the tubes, with crazy interest payments, players leaving, all because this man doesn't know when to quit.