KopTalk.com Forums Football Liverpool FC Forum takeover thread

Troycook and Afad are the only ones talking sense on this thread.

D'ya know summat Emp.
I'm now actually PAST caring.

same here growls

By Chris Bascombe
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GREEDY Liverpool co-owners Tom Hicks and George Gillett have made a desperate bid to cling on to power at Anfield.

Despite announcing the club was up for sale in April, and the recent flurry of Chinese and Syrian takeover interest, the Americans have been plotting to STAY in charge.

But their plans were blocked after a legal challenge from their own board.

Liverpool fans turning up for today's season opener with Arsenal are hoping their reviled co-owners are on the verge of selling up.

But Sport of the World can reveal the pair have been trying to refinance their massive debts.

During the summer, they asked Barclays Capital and FBR Capital Bank to approach several investment banks to renegotiate £290million of debt.

If successful, this would have freed the co-owners of their arrangement with the Royal Bank of Scotland and Wells Fargo which ends in October.

And most worryingly for fans, it would buy the Americans time to seek a higher price for the club at a later date.

Refinance negotiations were suspended on June 30 when the rest of the club's board demanded a review of the proposals. Chairman Martin Broughton, managing director Christian Purslow and commercial director Ian Ayre have made it clear that a sale of the club, not another refinancing agreement, is in the best interests of Liverpool FC.

They asked international law firm Slaughter and May whether the wishes of the club's owners could be opposed. The lawyers advised in favour of the board, blocking Hicks and Gillett's plans. Barclays Capital say no such proposals will be considered again, but it's clear the Americans are not walking away from Anfield without a fight.

They've made it known they're exploring more legal channels to challenge their board's right to have the final say on the club's future. The Americans' refinancing ambitions seriously undermine recent claims they have been in 'advanced takeover talks' with Syrian Yahya Kirdi for several months.

It also directly contradicts the statement the pair released on April 16, announcing a sale of the club was top of the agenda. They said: "Having grown the club this far we have now decided together to look to sell the club to owners committed to take the club through its next level of growth and development."

However, this statement disguised the owners' immediate intention.

Hicks and Gillett know if they can refinance and stay at the helm beyond their RBS debt repayment deadline on October 6, they can undermine BarCap's sale process. Refinancing offers a slim chance they can attract a higher bid for their shares later on.

Their board's opposition ensured the co-owners failed in their initial efforts to refinance by their first deadline of July 15. That triggered the potentially catastrophic £2.5m a week penalty charges that we revealed last Sunday.

Their failure to meet a second debt repayment deadline today means they will be hit with another £7.5m charge. A third charge of £7.5m kicks in on August 31 and by the end of this month, the Americans' debt will have risen to an astonishing £282.4m.

In the real world banks have taken over businesses to get their money back via a court order, but administration is a different thing altogether. I don't think RBS would take this course if the club looks like being sold before or after October 6.

if the americans are looking to refinance their loan on the club with other banks and are successful we will never get rid of them anytime soon because no potential new owner is gonna pay their price of £600m-£800m these yanks are deluded.

We have to put this all to one side and forget it asap , although important and crucial for the future ,there are more important things to worry about at the moment like ARSENAL AND MAN CITY next week

At least it is good to know that Purslow, Ayre and Broughton are on the "same" team - for now.

Long time reader, first time poster.

With what has been going I felt the need to sign up and put a point forward to you all. Just to see what you thought.

If I wanted to buy the club, I personally would wait till the RBS took control. This way I wouldn't have to negotiate on price, considering the bank wants to recover its money, and I wouldn't be paying huge amounts to secure what I could get at a cheaper price. Therefore, If i were rich and wanted to buy the best club in football, wouldn't it be better for me to show no interest until such a time, where I wouldn't be lining the pockets of American scumbags.

I listened to the purslow interview on 5 live, the presenters (forget their names, forgive me i am Australian)said they were surprised Liverpool hadn't got more interest from potential buyers. I get the impression that a smart buyer wouldn't be putting his hat in the ring as yet, due to the fact that he knows desperate businessmen such as the Americans would be making sure this dragged out, and they would understand that a sale would be some time offer. In my opinion a smart bidder is one that makes one bid, the final one.

I personally and not worried as a fan, we have the best product in world football, Chelsea fans are bought as are Man city fans, And every MAN UTD supporter, supporter someone else before they sold their souls to the club. A red supporter is more then that. And someone smart enough to buy us isn't going to be silly when making that purchase.

1st post and a good post , welcome fello aussie