The Anfield Saga
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Yep. This Kirdi fella is ******* me right off.
At least Huang's party made an effort to come in contact with the fans, even if it's indirectly through SOS. To be honest, I'm not sure of anybody now. This takeover is starting to sound like we're shifting from one nightmare to the other.
---------- Post added at 06:13 AM ---------- Previous post was at 01:01 AM ----------
RBS offers loan to potential Liverpool buyers?
Do I sense desperation? Is this in regards to certain rumours that we've lost most of the interested buyers? And here's what's being talked about at LFC forums -
---------- Post added at 06:13 AM ---------- Previous post was at 01:01 AM ----------
RBS offers loan to potential Liverpool buyers?
Do I sense desperation? Is this in regards to certain rumours that we've lost most of the interested buyers? And here's what's being talked about at LFC forums -
Is this why the Indians backed off? What exactly did H&G do to the club's finance that is bad enough to scare away most of the interested parties? *Headache, headache*
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RBS loans may be for stadium financing and/or player purchases. They said something like that a few months back - that they'd be happy to continue to work with new owners, just not the leeches. Would be very surprised if RBS didn't get their debt paid off in full because the club just has no realistic prospect of every paying it off on its own revenues.
Only factual thing which is known re.Gillett and something which doesn't look right about his finances and Liverpool FC is that he took out a loan in the States to pay back money RBS wanted. He took it out from the rich man's equivalent of cash converter, and what he was converting was control of a company which may be part of how he owns Liverpool. If that is what happened, then there's all kinds of problems with him doing that - especially if he didn't tell RBS or the other loan company about each other.
Big problem with the club is purely the debt. The club can't carry the amount of debt Hicks and Gillett have put on it. Apparantly the debt is now increasing at the rate of around £3m per week (bank debt + intercompany debt owed to H&G). You can buy a lot of Luke Youngs for that kind of money... Throw in Tom and George essentially saying that they'll fight things through the courts if they don't get at least the intercompany loans of c.£160m back and it's fairly understandable that most sane people with money are swerving this one. Think there's only one Liverpool supporter in the world with the money to sort this out properly, and he's got other problems on his plate, so we're kind of crossing our fingers that Huang's backers do turn out to have both money and the best interests of the club at heart.
Only factual thing which is known re.Gillett and something which doesn't look right about his finances and Liverpool FC is that he took out a loan in the States to pay back money RBS wanted. He took it out from the rich man's equivalent of cash converter, and what he was converting was control of a company which may be part of how he owns Liverpool. If that is what happened, then there's all kinds of problems with him doing that - especially if he didn't tell RBS or the other loan company about each other.
Big problem with the club is purely the debt. The club can't carry the amount of debt Hicks and Gillett have put on it. Apparantly the debt is now increasing at the rate of around £3m per week (bank debt + intercompany debt owed to H&G). You can buy a lot of Luke Youngs for that kind of money... Throw in Tom and George essentially saying that they'll fight things through the courts if they don't get at least the intercompany loans of c.£160m back and it's fairly understandable that most sane people with money are swerving this one. Think there's only one Liverpool supporter in the world with the money to sort this out properly, and he's got other problems on his plate, so we're kind of crossing our fingers that Huang's backers do turn out to have both money and the best interests of the club at heart.
Well, not unknown because this is what some of us have been saying for three years - and we got called all the names under the sun for pointing it out 
Club debt has been known about for a long time, but people didn't want to listen. Things have now got even worse because to refinance earlier this year, RBS forced G&H to turn the debt into PIK loans which have a much, much higher rate of interest. And it seems like they've also defaulted on paying interest too. There'll be more on this coming out in the papers very soon - David Maddock mentions it in his last piece in The Mirror, but some of the broadsheets will be covering this soon and Bascombe has apparantly had sight of the document which confirms it (whether you believe him or not... I don't read NOTW so take him with a pinch of salt for a number of reasons).
Total debt on the club at Kop Holdings' level is now probably going to be somewhere around £490m (£330m to RBS plus £160m to inter-company loans). And it's increasing at £3m a week....
Club debt has been known about for a long time, but people didn't want to listen. Things have now got even worse because to refinance earlier this year, RBS forced G&H to turn the debt into PIK loans which have a much, much higher rate of interest. And it seems like they've also defaulted on paying interest too. There'll be more on this coming out in the papers very soon - David Maddock mentions it in his last piece in The Mirror, but some of the broadsheets will be covering this soon and Bascombe has apparantly had sight of the document which confirms it (whether you believe him or not... I don't read NOTW so take him with a pinch of salt for a number of reasons).Total debt on the club at Kop Holdings' level is now probably going to be somewhere around £490m (£330m to RBS plus £160m to inter-company loans). And it's increasing at £3m a week....
A couple of minutes ago he said a deal was just days away, & now it's 2 months. Does this guy suffer from a multi-personalty disorder ? If so, everyone should lay off the expletives as he can't help himself. On the other hand, if he's attended the Hicks & Gillett School of Absolute Truth-Speaking, I agree - he can go away quickly with our collective boot up his ****.
Why does LFC attract all the Arthur Daley's of the money markets ?
I repeat my earlier plea: come in, football-mad sheikh & spend all your petro-dollars on us. NOW. ! :S
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Mate, have a heart - please nix on the increase-of-debt bulletins - you're starting to hurt me mentally. I know the chancers have ruined & continue to ruin our beloved club with every day they remain as this rump of a regime ( ' In the name of God, GO ! ' ), but enough already !
This affair has turned me into a borderline manic-depresive - I don't want to go the whole hog ! ( Yes, I'm aware I'm sticking my head in the sand, but there we are ).
Keep up the brilliant analysis of this mockery of a takeover, but the debt problem - NOOOOO ! :'(
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lol about Kirdi. His PR handlers really shouldn't let him out on his own - all the spin about 'buying liverpool on Sunday' totally ballsed up by him speaking. Would be funny if it wasn't our club heh.
Debt's going to be something I think we're going to hear a lot about mate. Sadly, it's at the very heart of the problem here and is why so many sane businessmen are looking at the books and walking away for the moment. Understand where you're coming from, but better to know what might happen than for it all to come as a surprise,no? Only really brought it back up because it is going to be hitting the newspapers again soon though
Debt's going to be something I think we're going to hear a lot about mate. Sadly, it's at the very heart of the problem here and is why so many sane businessmen are looking at the books and walking away for the moment. Understand where you're coming from, but better to know what might happen than for it all to come as a surprise,no? Only really brought it back up because it is going to be hitting the newspapers again soon though
Thursday Board meeting cancelled with lack of serious bids on the table?
Get ready for administration, folks. Were totally screwed.
Get ready for administration, folks. Were totally screwed.
Deadline for bids is Friday. Proof of funding was meant to be in by today.
BarCap telling times that they are confident two bids will be there by Friday. Here's hoping because administration really won't be pleasant due to the portion of the debt which is owed to tumours.
BarCap telling times that they are confident two bids will be there by Friday. Here's hoping because administration really won't be pleasant due to the portion of the debt which is owed to tumours.
I
iNickStuff
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Despite the rivalry between Liverpool and Manchester United,it would be a huge shame to see a big and decorated club as Liverpool go down into administration.
Woy clearly dosen't fancy our brazilian keeper, so Jones will be the Reina back-up. Until the takeover is done ( sigh ), we'll be forced to scrape the barrell, as usual - total bummer.
Have a sneaky feeling of goodness about Poulsen though. (H)
Make of this what you will: http://translate.google.com/transla...la:en-GB:official&rurl=translate.google.co.uk
(interview with Huang in Chinese fed through googletranslate)
(interview with Huang in Chinese fed through googletranslate)
On behalf of every Liverpool fan; I ******* hope so.
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