I have been posting last two weeks about bad signals re NSEV and John Henry. In the paper shop just now and I see these headlines in my local paper Liverpool Echo. These are from board discussions re new suitors. Ok maybe they are from the court case and all sorts of mud will come out but Purslow’s assessment is exactly what the signals coming out now. Particularly that he does not have the resources for a new stadium.
Purslows Letter
TO GET it straight, I think we should avoid the natural temptation to jump straight in to the deal with NESV. Whilst they are charming, intelligent and credible their bid is by any standards at the extreme bottom end of the of the ‘right deal’ threshold we set for ourselves: it only reduces debt by less than half and is I feel unlikely to yield incremental equity to fund a stadium.
“They may say they have money if necessary but I do not take this very seriously. Their eyes only lit up at the idea of other opportunity improvements. An American deal guy simply can't avoid using other people's money if they can.
"There is no extra money on the table to enable short-term investment in what remains a squad palpably needing more quality if we are to be definitively top four. New American sport team owners with the senior guy being a hedge fund manager could not be worst from an image standpoint, which is an issue for us independents. I have not even talked about valuation. I leave that to other members of the board.
Link to Liverpool Echo
http://www.liverpoolecho.co.uk/liverpool...00252-28154014/