Liverpool 'approach BA chairman'
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Jack Fulham
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At least his employee's won't going on strike every other month. Knowing the amount of money BA have taken off me alone, he must be doing a good job.
I
iNickStuff
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This is the man who has just overseen the deal to merge BA with Spanish carrier Iberia.
The same Iberia who have consistently been rated one of the worst carriers by numerous review sites and independent agencies
The same Iberia who have consistently been rated one of the worst carriers by numerous review sites and independent agencies
can anyone explain how this would benefit the club?
Free Flights.(H)
KidBlink56
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That's one of those things that shouldn't be funny. But is. XD
It's funny, because you know it's a **** joke, but it's said like it's a **** joke, not an actually attempt at being funny!
Hence, el Boom Boom Pow.
can anyone explain how this would benefit the club?
I could explain what refinancing by Barclays Capital for 300 mil would mean, and I can explain what a failure to repay the 100 mil RBS by July would mean, but in terms of benefiting the club, I doubt anyone could explain that mate.
If you want me to do a financial breakdown of Liverpool and what all this means for us, I can do that (wouldn't be all my own work as a lot has been done already by people like TSC on RAWK, the lads at TLW and RAOTL and SOS). Let me know if you do.
Got to say that approaching someone is nowhere near them actually accepting the role, even if the story is true (Sunday newspaper stories do not fill me with confidence).
This might clear stuff up for people?
http://uk.news.yahoo.com/22/20100411/tts-uk-soccer-england-liverpool-refinanc-ca02f96.html
Barclays will back a 300 million pounds refinancing at Liverpool that will lead to the sale of the Premier League club, The Sunday Times has reported. Skip related content
The newspaper said the bank is this weekend finalising a deal that will see it replace the club's current lenders, provide more funds for manager Rafa Benitez to spend on players and install British Airways chairman Martin Broughton as chairman.
It added that Barclays Capital had been hired to find a buyer for the club -- 18 times English champions and five-times winners of the European Cup -- which is owned by American businessmen Tom Hicks and George Gillett.
The club has outstanding loans of 237 million pounds and its lenders, Royal Bank of Scotland and Wachovia, an American bank, have demanded 100 million pounds by July.
The Sunday Times said Barclays, the main sponsor of the Premier League, will replace RBS and Wachovia, and provide the Merseyside club with additional capital.
It added that according to banking sources Broughton had been given the job of steering through the refinancing and, with Barclays Capital, finding a new owner.
Analysts have suggested Liverpool is worth 500 million pounds but the paper said Barclays is understood to believe it would fetch far more if given time to improve its trading.
"Broughton is the kind of international business figure who will be able to bring in the standard of bidders Liverpool should attract," one source told The Sunday Times.
Benitez was quoted in British media on Sunday as saying Liverpool needed to bring in more players to compete and may even have to sell a few to be able to reinvest.
"It doesn't matter if it's four or five or three or five, the cost of a top class player is 15 or 20 million pounds. So with three or four players, you start counting and I think we need up to four new players," he said in The People.
"I don't think I will have to sell a big player, but it will depend on the investors so I cannot guarantee we won't have to sell. Our idea is to keep the spine of the team."
http://uk.news.yahoo.com/22/20100411/tts-uk-soccer-england-liverpool-refinanc-ca02f96.html
Barclays will back a 300 million pounds refinancing at Liverpool that will lead to the sale of the Premier League club, The Sunday Times has reported. Skip related content
The newspaper said the bank is this weekend finalising a deal that will see it replace the club's current lenders, provide more funds for manager Rafa Benitez to spend on players and install British Airways chairman Martin Broughton as chairman.
It added that Barclays Capital had been hired to find a buyer for the club -- 18 times English champions and five-times winners of the European Cup -- which is owned by American businessmen Tom Hicks and George Gillett.
The club has outstanding loans of 237 million pounds and its lenders, Royal Bank of Scotland and Wachovia, an American bank, have demanded 100 million pounds by July.
The Sunday Times said Barclays, the main sponsor of the Premier League, will replace RBS and Wachovia, and provide the Merseyside club with additional capital.
It added that according to banking sources Broughton had been given the job of steering through the refinancing and, with Barclays Capital, finding a new owner.
Analysts have suggested Liverpool is worth 500 million pounds but the paper said Barclays is understood to believe it would fetch far more if given time to improve its trading.
"Broughton is the kind of international business figure who will be able to bring in the standard of bidders Liverpool should attract," one source told The Sunday Times.
Benitez was quoted in British media on Sunday as saying Liverpool needed to bring in more players to compete and may even have to sell a few to be able to reinvest.
"It doesn't matter if it's four or five or three or five, the cost of a top class player is 15 or 20 million pounds. So with three or four players, you start counting and I think we need up to four new players," he said in The People.
"I don't think I will have to sell a big player, but it will depend on the investors so I cannot guarantee we won't have to sell. Our idea is to keep the spine of the team."
If (and it is a big if) this is true though mate, it really does not benefit the club - that's the point I was trying to make.
Current debts on the club are £237 million. We owe that to RBS. RBS want £100 million of it paid back by July or they repossess the club. RBS are currently calling the shots at the club financially, will not permit the club to be asset stripped and are demanding that H&G pay back the debt with their 'own' money (what actually seems to be happening is that the Yanks are clawing the money back from the club via the various holding companies behind Liverpool).
Now if they get refinanced, the two Yanks stay at the club. And they keep milking the club and driving up the debt until someone meets a ludicrous asking price of £600 million for Liverpool. It's ludicrous because of the investment required in the club. We need a new stadium which is conservatively priced at £400 million outlay. So someone wanting to buy the club has to have not only the £600 million but also then find another £400 million. That narrows the field of potential buyers down to a handful of exceptionally rich individuals who are willing to invest over the very long term in order to get their money back or want a vanity purchase to waste their money on.
Taking out a loan of 60 million for new players is just wrong. Sorry to say it, but it is. It'll distract a few whoppers from the fact that we're essentially doing a Leeds but taking 60 million more debt on, purely to buy players, would be financially insane.
With 300 million in debt, we're still nowhere near the new stadium we need - 400 million required for that, meaning that our debts would be actually more than the value of the club. We're struggling to meet the existing repayment schedule (a negative net spend in the transfer market last season and still a massive loss expected when accounts are published) so how can we afford to take on the c.£700 million total debt which would be required to service both the 300 million and the 400 million for the stadium? Even on a very long term, low interest rate finance, I really fear that the initial 60 million purportedly for new players this summer would be the last transfer money we'd see for a long time afterwards without selling to buy.
It's a mess and a shambles. But going the Leeds route is insane and if this story is true, that's where we're heading. But a few big name players in the summer will keep the whoppers and the wools quiet for a season or two or three (depending on what happens on the pitch) while the club goes even closer to financial catastrophe.
Current debts on the club are £237 million. We owe that to RBS. RBS want £100 million of it paid back by July or they repossess the club. RBS are currently calling the shots at the club financially, will not permit the club to be asset stripped and are demanding that H&G pay back the debt with their 'own' money (what actually seems to be happening is that the Yanks are clawing the money back from the club via the various holding companies behind Liverpool).
Now if they get refinanced, the two Yanks stay at the club. And they keep milking the club and driving up the debt until someone meets a ludicrous asking price of £600 million for Liverpool. It's ludicrous because of the investment required in the club. We need a new stadium which is conservatively priced at £400 million outlay. So someone wanting to buy the club has to have not only the £600 million but also then find another £400 million. That narrows the field of potential buyers down to a handful of exceptionally rich individuals who are willing to invest over the very long term in order to get their money back or want a vanity purchase to waste their money on.
Taking out a loan of 60 million for new players is just wrong. Sorry to say it, but it is. It'll distract a few whoppers from the fact that we're essentially doing a Leeds but taking 60 million more debt on, purely to buy players, would be financially insane.
With 300 million in debt, we're still nowhere near the new stadium we need - 400 million required for that, meaning that our debts would be actually more than the value of the club. We're struggling to meet the existing repayment schedule (a negative net spend in the transfer market last season and still a massive loss expected when accounts are published) so how can we afford to take on the c.£700 million total debt which would be required to service both the 300 million and the 400 million for the stadium? Even on a very long term, low interest rate finance, I really fear that the initial 60 million purportedly for new players this summer would be the last transfer money we'd see for a long time afterwards without selling to buy.
It's a mess and a shambles. But going the Leeds route is insane and if this story is true, that's where we're heading. But a few big name players in the summer will keep the whoppers and the wools quiet for a season or two or three (depending on what happens on the pitch) while the club goes even closer to financial catastrophe.
Nah, if I was knowledgable I would be able to tell you why a very prominent member of the British Horseracing Board is the chap being asked to take on a temporary role as chairman to oversee a sale and why Barclays (a bank with very influential contacts in the Middle East - so influential that they went there for a bailout rather than get the British government to do it like RBS did) is now so keen to get involved with Liverpool when we've got at least one owner whose American sports group is on the brink of bankruptcy and whether or not that all this was just coincidence and didn't have any relationship to a supposed bid which could be finalised within four weeks providing agreement is reached over the price of the club.
But that could be adding 2+2 to make 5 and we've been stung too often by those two greedy ****s.
Yeah Hicks and Gillette are a ******* joke. They have had multiple chances to sell to Arabs, Kuwaitee's and other tycoons and businessmen yet they are so ******* greedy they don't give a **** about the club.
It's been up for sale for a couple of years Scott - all that's happened is that they've decided to use one bank and not two to find someone to buy it. The problem remains that the asking price is far higher than the club can be realistically valued at because H&G want to take the profit from the value of the club rising because of a new stadium, but without even starting the building of a new stadium never mind paying for it.
Bit like me selling a house and trying to persuade you it's worth twice the market value because if you spent the same amount of money as you were paying for the house on refurbishing it after you bought it, it would be worth twice as much and so you should pay me extra for allowing you to have such an investment opportunity...
croatsouljah
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