KopTalk.com Forums Football Liverpool FC Forum takeover thread

im pretty sure there was one last week. anyway, here's a google translation of the story i was referring to.

Norwegian to English translationShow romanization
Formal bids approaching

The formal bid by Kenny Huang to be just around the corner, according to informed Tony Barrett of The Times. Martin Broughton should have already been shown takeover plan to the Chinese.

By Arild Skjæveland

Tony Barrett of The Times writes today that the Chinese with Kenny Huang spearheaded makes clear its formal bid for the acquisition of ownership of Liverpool FC. Huang should have already sent Martin Broughton takeover plan, and it is now in the process of tweaking your bid before it is submitted to Barclays Capital has the responsibility to stand for the sale of the club.

Broughton Chairman has said all interested buyers now must prove they have the necessary funds available to buy the club. Barrett argues that the Chinese are still a favorite to take over, although Yayha Kirdi claims he is close to an acquisition. Some sources claim that Kirdi only be used by the American owners to sabotage a sale to Huang, as this will give them a lot less profit than what was planned.

hmm it seems its becoming quite clear what is going on

any time news about Kenny Huang's bid comes out, All of a sudden its reported the Kirdi bid is ahead of it. Difficult times ahead for the 3 non owning members of the board. The pressure from H+G is growing. Broughton has to be very strong here, and not let them bully there way through

All will be reveal in the end. Hoping against hope that something good will come out of it.

Get out you damn Yankees!!

FROM RAWK -

I was contacted on Twitter by someone who reads these boards but isn't registered yet. He's trying to register has liamf555 so sort it out MODS!

He managed to contact Mr Harris and he has sent me his response. The guy makes some good points and I credit him for taking so much time, but I still stand by the article being written in a manner that over portrayed what his lawyer said. I also still think it comes across as a hatchet job, for whatever motives.






Liam,

Your email is the first and last that I will respond to personally because, frankly, I can do without the abuse.

If you are critical of my writing style, fair enough, that's a matter of taste.

As for sources, I use the best possible sources on all stories, and on this one, people involved at all levels in all areas in America, the UK and China.

I'm a professional journalist. I have been a sports writer and investigative journalist since the mid 1990s. I am a staff writer at The Independent; I also write on the business and finance of sport for The Sunday Times.

I also write for a business magazine, FC Business, and in the new issue later this week it will carry a cover story and 2,000-word interview I've done with Liverpool's commercial director (and board member), Ian Ayre.

For the avoidance of any doubt whatsoever - and to make absolutely sure you don't misinterpret this - Ian talked to me about Liverpool commercial business, growth and plans, and was in NO position to give me insight into takeover details; nor have I sought them from him. I do have excellent sources in the world's of sports business and finance here, in the US and in China and these have informed my pieces.

Again, if you don't like them and don't want to take on board what I write, which I always back up with first-hand evidence wherever possible, fair enough.

But my intention, funnily enough, is facts, and evidence to back up facts.

I know as a Liverpool fan (you, not me) I realise how desperate you must feel in this situation.

I was the first (only) journalist, before G&H took over, to warn about Gillett's past, stress, BEFORE they took over. This story was on the Independent's back page in Feb 2007.
Liverpool buyer went bankrupt in the US - Premier League, Football - The Independent

I have warned about the dangers of their control for a long time:
Nick Harris: Anfield weighed down by £350m millstone - News & Comment, Football - The Independent

So don't start accusing me of agendas that don't exist.

Do look up the record of my website in covering SoS issues.

And for the record, I'm a Southampton supporter, just to clear up any suggestion to the contrary.

Now, to the specifics of Kenny Huang.

I have spent a week looking at this because frankly it's a MASSIVE story, and if there was really truth in the fact CIC were behind Huang, it would be sensational.

But a slow and methodical look at every detail has not shown that to be the case.

Why would Kenny Huang, if 100 pc legitimate and with real Chinese government backing, spin a story through a PR man before going to the board even with a proposal?

It makes no sense.

I have tried at every stage to show that Kenny Huang's claims just don't stack up: he's a deal-maker, a middle-man, and someone who on key facts about his life and business cannot be taken at face value.

If he ends up in control with China govt money behind him, good for him. Good for Liverpool. But nobody who knows about these things thinks that will happen.

I know the message boards and forums are abuzz with every rumour. I know you all respect your "ITKs" - like Bamba and DVC, who I'm certain are genuine and solely motivated by what's best for the club.

I don't know either one personally although I believe I know who they are and they are good Reds with sources; but I believe a lot of people, even inside Liverpool, have been misled on Kenny Huang.

Ultimately it doesn't matter two hoots what I write. I write because I think Liverpool fans have been put in a position where they believe a billionaire saviour is about to come to the rescue in the shape of Kenny Huang. And I don't think that's accurate.

I have just picked up your latest email.

Please ask the lawyer if the quotes I attribute are accurate. And whether the report is accurate.

She can call it a hatchet job but she is Kenny Huang's lawyer.

Nick H

Liam,

Again, I assure I am not under the influence of any individuals.

You can believe me or not but my sincere belief is Liverpool deserve good, honest owners. That's it.

As a Southampton fan whose club nearly died last year, I do understand your trauma.

You as Liverpool fans didn't like my Huang stories that cast aspersions on him; I understand that. But I try to report supportable, fact-based stories.

I have referred to Mr Kirdi's bid a few times and been skeptical. I am skeptical about it, and the motives behind it.

But to be honest I've been spending a lot of time looking at one story because it's the bigger one: China - true or not?

I am glad you have read my Gillett story now. Pity nobody took notice three years ago and more.

I understand your doubts. I understand your frustration. And I definitely understand that it's easy to hate the messenger.

I don't know if Mr Huang will bring credible backers to the table or not. I seek answers to questions. That's it.

Nick

PS: Notice you hadn't shared my long reply on the forums! Do feel free to do so. I have nothing to hide.







Liam,

Do me one favour.

Convey some of what I have written to you, in good faith, to your fellow supporters.

They too deserve to know that there are journalists who wrote about Gillett before he took over (and were ignored).

Don't let it happen again. You as fans should be asking these questions too, about ALL bidders.

NH

Oh well, you tried.

It is an unavoidable part of being a journalist that you get 1,000 buckets of [oops] tipped on you if you write something the fans don't like, even if you're trying to find out the truth.

After reading this I think David Moores is a prat.

Liverpool buyer went bankrupt in the US

By Nick Harris and Andy Hunter


Friday, 2 February 2007

George Gillett Jnr, the prospective owner of Liverpool, has a spectacular bankruptcy on his CV, which involved the collapse of his business empire in 1992 with debts of $1bn (£508m), and led to a personal bankruptcy to the tune of $66.2m, The Independent can reveal.
Gillett, 68, said at the time that he had "caused the problem" that led to the downfall of his Gillett Holdings firm, because of an " error in judgement and timing" about a major investment, in that case in a Florida television station.
But sources close to Gillett, who is now in pole position to take over at Anfield, perhaps within days following Wednesday's shock withdrawal of Dubai International Capital's firm pledge of £450m investment, insist the entrepreneur is the right man to take Liverpool forward.
Reports in America yesterday suggested Gillett may buy Liverpool with Tom Hicks, the Dallas businessman who owns the Texas Rangers baseball franchise.

"Gillett is a serious investor with a good track record," a source in his camp said. Since his 1990s downfall, the American has rebuilt his empire and is estimated to have a personal fortune of £440m.

Gillett has not made public how he intends to pay for his proposed £170m buyout, write off debts of £80m, pay for a £200m new stadium or fund transfers. "But if you're asking whether this a majorly debt-driven venture, then no," the source claimed. "It is not a Glazer-type deal."

The Glazer family borrowed heavily to buy Manchester United and have since heaped £660m of debt liability directly on to United's books.

Without providing any details or breakdown, the Gillett source said Gillett had given written assurances to the Liverpool board that he would indeed pay for the new stadium, and provide funds for the future.

He will also, crucially, offer the shareholders, including the chairman David Moores (a 51.6 per cent stakeholder), £5,000 per share against DIC's £4,500.

Gillett has hired the bankers Rothschild to handle his offer. A banking source said last night: "There's less stigma attached to bankruptcy in America. Chapter 11 [protective bankruptcy proceedings, which Gillett went through] are viewed as a normal route out for business collapses."

Liverpool fans may take some persuading, especially as DIC seemed to have produced an attractive offer that guaranteed a stadium and hefty transfer funds. DIC pulled out after learning that what it thought were " exclusive" negotiations with Liverpool had been widened to allow the Gillett offer to be heard.

Liverpool's chief executive, Rick Parry, who on 14 January was singing DIC's praises and saying he was "confident" that that deal was imminent, sought yesterday to calm supporters' fears. "The overriding message is, 'Don't worry'," he said. "Whatever decision is finally taken will be done so in the best interests of Liverpool Football Club... We had a duty as directors to consider a very interesting bid from George Gillett."

It is not known how much Liverpool know about Gillett's previous business failure, nor whether they consider it relevant. Gillett's only other sports interest is as owner of the NHL's Montreal Canadiens.

Gillett's career started in management consultancy in his twenties, and he made his original fortune through meat production, sports franchises, ski resorts and television media. It was during this period, up to the 1980s, that he had ­ and then sold ­ interests in the NFL's Miami Dolphins and in the Harlem Globetrotters.

His errors were borrowing too much money (via high-risk "junk bonds") to sustain his companies, and then investing badly. The final straw, as Gillett saw it, was buying WTVT-TV in Tampa, Florida, for $385m, just as the industry went into recession. By 1989, Gillett Holdings had lost $100m on WTVT-TV alone. Things came to a head in 1991 when the junk bond interest shot up, and as Gillett said: "When the notes came due, we were dead."

Gillett's empire was bust, and he was also declared personally bankrupt, losing his home and sports cars.

He did, however, remain on the payroll of one of his ski firms, and was allowed to keep millions of dollars in a settlement package that saw his various interests emerge from bankruptcy under new owners unrelated to him. From scratch, he built a new empire in meat, sport and car dealerships.

Talking to Time magazine in 1997 about his riches-to-rags-to-riches experience, he said of his personal bankruptcy and loss of his house: " I had 10 days to get out... I [later] had to buy back my clothes. I had to buy back my dogs." He also admitted he sometimes moved too fast in business, and bought too much. "I've lived my dreams, but then I blow them up."

How was he allowed to buy Liverpool. Is this the reason he brought Hicks in to give him credibility. Would he have got the loan in his own name. This could be the reson why Hicks as been calling the shots.

George Gillett Jnr, the prospective owner of Liverpool, has a spectacular bankruptcy on his CV, which involved the collapse of his business empire in 1992 with debts of $1bn (£508m), and led to a personal bankruptcy to the tune of $66.2m, The Independent can reveal.

firstly we dont look after that, and secondly, he cant be all that bright if he cant register, its hardly a citizenship application process.

I dont actually trust old Sly Sports in this saga, they seem to be pushing the Yahya Kirdi agenda.

Everytime I hear about the Kirdi bid progressing it through them first and they seem to discredit Huang pretty quickly too. They were one of the first to have someone on saying the Huang bid was no good and that it was not high enough, have not heard them discredit the Kirdi bid though, at least not that I can remember.

Also I was watching SSN last night and heard the news about the Kirdi bid and some snippets on the other bids but not a single line on the Huang bid, and the doughnut reporter said LFC fans would be happy with this news of an imminent takeover by Kirdi!

Would surprise me if Mr Murdoch was in bed with H&G, wouldnt be the first time his used his outlets to push agendas.

SKY SPORTS NEWS CONTINUE TO REPORT

Basically they said...
YAJHA KHIRDI TO CONCLUDE A DEAL BEFORE KICK OFF ON SUNDAY CONFIRMING THEM AS FAVOURITES...

KENNY HUANG STILL HASN'T BEEN RULED OUT, BUT APPARENTLY HASN'T BACKED UP HIS INTEREST

still none the wiser i suppose, but they seem to be big on khirdi stating he has offered a more substantial deal that would be more likely to appease the american owners.

don't know if any of you have already seen this article (link below) but its quite alarming really... don't trust this khirdi guy he has to instantly make a big statement to win us over especially after reading this, just sounds like another cowboy. same goes for huang though, in all honesty we know nothing about his bid either. alot of fans are over the moon but for me its more worrying than exciting

http://www.anfieldroad.com/news/201008073868/yahya-kirdi-fantasy-island-without-the-planes.html/