Ride The Walrus
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~Hmm, I'm not sure what to think about that.I don't want us to be like City :S
EDIT - **** YOU!
The Anfield Saga
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~Hmm, I'm not sure what to think about that.I don't want us to be like City :S
EDIT - **** YOU!
By Chris Bascombe
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THE LIVERPOOL takeover is OFF if the Premier League carries out a threat to deduct the club nine points.
New England Sports Ventures will walk away from their £300m deal if this week's court case ends with Liverpool being forced into administration.
The group led by John W. Henry is furious that both the league and Royal Bank of Scotland appear to have shifted positions on this key issue in the last 24 hours.
NESV held two months of intensive negotiations with Liverpool chairman Martin Broughton when the grim prospect of administration was not on the agenda.
But yesterday, Broughton publicly admitted a nine point penalty was a possible, 'catastrophic' outcome.
That caused consternation among the Boston-based group who believed they had guarantees a nine-point deduction was an unrealistic threat.
Now NESV are disturbed by the contradictory messages, making this week's court hearing on the club's future even more decisive.
NESV have grown increasingly frustrated by events since announcing their prospective takeover on Wednesday.
There was an acceptance the hurdle of a court battle might be necessary to conclude a deal, even though it's a far from satisfactory situation.
But claims a rival Singapore group were pursuing Premier League clearance as 'back-up' appears to have caused some agitation.
And the threat of a nine-point deduction has now prompted a tougher stance from NESV.
Default
Only last month, Premier League sources told Sport of the World they would distinguish between the owners' debts and the club's debt and not issue a nine-point penalty in the event of a default on bank repayments.
Hicks and Gillett owe their 'acquisition debt' - currently £282.4m - which they used to buy Liverpool in 2007 as part of the company they created called Kop Football.
That company exists independently from Liverpool Football Club and Athletics Grounds Limited, whose accounts are sent to the Premier League.
This was a distinction ex-chief executive Rick Parry and former chairman David Moores fought to preserve before they left the Anfield board.
Until yesterday, NESV believed this was still the position and, at worst, administration and a points penalty was the remotest of the most remote possibilities.
Any shift in the Premier League's position poses serious questions as to how Liverpool qualified for European football this season.
A new 'going concern' test introduced last year demanded every club apply for a UEFA licence and demonstrated they had proof of funds for the whole of this campaign.
It was understood the RBS guaranteed to league chiefs they would ensure Liverpool stayed in business for the whole of this campaign.
Liverpool supporters will be devastated that having believed their ownership ordeal is nearly over, it may yet take another dire turn.
Sources closes to NESV insist they are as committed as ever to completing the deal and hope the court case will resolve any existing issues.
A High Court ruling in the club's favour will make the administration threat irrelevant.
But NESV are not prepared to pay £300m for a club which will be facing a fight against relegation, especially as they were informed this wouldn't be the case.
http://www.newsoftheworld.co.uk/spo...IF-LEAGUE-DOCK-POINTS.html?OTC-RSS&ATTR=Sport
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THE LIVERPOOL takeover is OFF if the Premier League carries out a threat to deduct the club nine points.
New England Sports Ventures will walk away from their £300m deal if this week's court case ends with Liverpool being forced into administration.
The group led by John W. Henry is furious that both the league and Royal Bank of Scotland appear to have shifted positions on this key issue in the last 24 hours.
NESV held two months of intensive negotiations with Liverpool chairman Martin Broughton when the grim prospect of administration was not on the agenda.
But yesterday, Broughton publicly admitted a nine point penalty was a possible, 'catastrophic' outcome.
That caused consternation among the Boston-based group who believed they had guarantees a nine-point deduction was an unrealistic threat.
Now NESV are disturbed by the contradictory messages, making this week's court hearing on the club's future even more decisive.
NESV have grown increasingly frustrated by events since announcing their prospective takeover on Wednesday.
There was an acceptance the hurdle of a court battle might be necessary to conclude a deal, even though it's a far from satisfactory situation.
But claims a rival Singapore group were pursuing Premier League clearance as 'back-up' appears to have caused some agitation.
And the threat of a nine-point deduction has now prompted a tougher stance from NESV.
Default
Only last month, Premier League sources told Sport of the World they would distinguish between the owners' debts and the club's debt and not issue a nine-point penalty in the event of a default on bank repayments.
Hicks and Gillett owe their 'acquisition debt' - currently £282.4m - which they used to buy Liverpool in 2007 as part of the company they created called Kop Football.
That company exists independently from Liverpool Football Club and Athletics Grounds Limited, whose accounts are sent to the Premier League.
This was a distinction ex-chief executive Rick Parry and former chairman David Moores fought to preserve before they left the Anfield board.
Until yesterday, NESV believed this was still the position and, at worst, administration and a points penalty was the remotest of the most remote possibilities.
Any shift in the Premier League's position poses serious questions as to how Liverpool qualified for European football this season.
A new 'going concern' test introduced last year demanded every club apply for a UEFA licence and demonstrated they had proof of funds for the whole of this campaign.
It was understood the RBS guaranteed to league chiefs they would ensure Liverpool stayed in business for the whole of this campaign.
Liverpool supporters will be devastated that having believed their ownership ordeal is nearly over, it may yet take another dire turn.
Sources closes to NESV insist they are as committed as ever to completing the deal and hope the court case will resolve any existing issues.
A High Court ruling in the club's favour will make the administration threat irrelevant.
But NESV are not prepared to pay £300m for a club which will be facing a fight against relegation, especially as they were informed this wouldn't be the case.
http://www.newsoftheworld.co.uk/spo...IF-LEAGUE-DOCK-POINTS.html?OTC-RSS&ATTR=Sport
Ride The Walrus
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Meh, they'll be in a big of mess soon aswell. Then we shall extract revenge. Muhahaha
We are already in a bg mess, your just in bigger at the moment, so let the baby have its bottle.
i have just click on this scott why are you winding us up its not funny
Mate grow a pair, it is funny as ****, and a little joke, dont cry over it.
Ride The Walrus
A pretty cool guy.
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Calling your own joke 'funny as ****' Fail
Still it was funny and he over reacted.
Ride The Walrus
A pretty cool guy.
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Liverpool's ace card against Tom Hicks and George Gillett in the looming court case is that the £300 million takeover by New England Sports Ventures is actually in the best interests of the outgoing owners - because it wipes out a massive £110 million worth of personal guarantees to the Royal Bank of Scotland.
Hicks and Gillett stand to lose a total of £254 million if the move by the owners of the Boston Red Sox collapses and they cannot find a replacement new owner by Friday.
ESPNsoccernet can exclusively reveal the cornerstone of Liverpool's case at the High Court next week is that the takeover is in everyone's best interests. The hearing is not likely until Tuesday at the earliest.
An inside source said: "It's in Hicks and Gillett's best interests, the board will argue, because it caps their losses at £144 million. Part of the deal with NESV is that the Royal Bank of Scotland wipe out the £110 million of personal guarantees."
An out of court settlement with Hicks and Gillett cannot be ruled out as the board is so confident that they will win the case.
Liverpool chairman Martin Broughton cannot comment on the specifics of the case, but he has told ESPNsoccernet that he believes he can win the case and the takeover can go through.
Behind the scenes 'negotiations' are clearly going on between the warring factions aimed at avoiding a messy public court hearing that would tear the club apart. Equally, the court hearing, which comes just days before Friday's deadline with the Royal Bank of Scotland, is unlikely to be the end of the legal wranglings, as whoever losses the initial hearing is sure to seek an appeal.
On the issue of an appeal, Liverpool's lawyers will argue that if Hicks and Gillett lose and the takeover can go through, and they call for an appeal, it would seriously jeopardise the takeover, and potentially throw the club into administration, thereby putting the club's survival at risk.
If the legal actions drag to a second hearing, it is inevitable that RBS will have to take some decision on Friday, most likely to suspend the outcome of whether to put the club into administration pending the final court room verdict. The logical solution is for both sets of lawyers to find some sort of middle ground, even if it is a settlement on the steps of the High Court. There is no direct contact anymore between the factions, with Hicks and Gillett one one side and the three English members of the board led by Broughton on the other.
Broughton told ESPNsoccernet exclusively: "All of these issues I cannot possibly comment on, as this is going to court, one would assume. We have no date for the hearing yet, but we are told it is a 'short order' and so it would be any day hopefully early next week. The lawyers have told me I am not unable to talk about the case directly."
However, without going into any legal detail, Broughton said: "Yes, I am confident we shall win. However we all know when you have two sets of lawyers they are both telling you that they are 100% confident that they will win."
There is one central key issue of the entire legal procedure, and Broughton made that abundantly clear: "We are going to the courts seeking clarification that we are able to proceed with the sale of Liverpool FC."
Although Hicks publicly declared that he had given no undertaking directly to Broughton about the constitution of the board and the sale process being determined by the board (rather than the shareholders when he did his deal with RBS to extend the facility for six months), Broughton confirmed that such an undertaking was given to RBS.
Broughton said: "The obligation was given to RBS as part of the loan extension agreement. If an undertaking was given to the major creditor, than an undertaking was given."
In another twist, leaked minutes from a Liverpool board meeting allegedly contain Hicks making personal and abusive comments about Liverpool fans, which will increase the hatred already felt by the supporters against the current owners.
http://soccernet.espn.go.com/news/st...ngland&cc=5739
Hicks and Gillett stand to lose a total of £254 million if the move by the owners of the Boston Red Sox collapses and they cannot find a replacement new owner by Friday.
ESPNsoccernet can exclusively reveal the cornerstone of Liverpool's case at the High Court next week is that the takeover is in everyone's best interests. The hearing is not likely until Tuesday at the earliest.
An inside source said: "It's in Hicks and Gillett's best interests, the board will argue, because it caps their losses at £144 million. Part of the deal with NESV is that the Royal Bank of Scotland wipe out the £110 million of personal guarantees."
An out of court settlement with Hicks and Gillett cannot be ruled out as the board is so confident that they will win the case.
Liverpool chairman Martin Broughton cannot comment on the specifics of the case, but he has told ESPNsoccernet that he believes he can win the case and the takeover can go through.
Behind the scenes 'negotiations' are clearly going on between the warring factions aimed at avoiding a messy public court hearing that would tear the club apart. Equally, the court hearing, which comes just days before Friday's deadline with the Royal Bank of Scotland, is unlikely to be the end of the legal wranglings, as whoever losses the initial hearing is sure to seek an appeal.
On the issue of an appeal, Liverpool's lawyers will argue that if Hicks and Gillett lose and the takeover can go through, and they call for an appeal, it would seriously jeopardise the takeover, and potentially throw the club into administration, thereby putting the club's survival at risk.
If the legal actions drag to a second hearing, it is inevitable that RBS will have to take some decision on Friday, most likely to suspend the outcome of whether to put the club into administration pending the final court room verdict. The logical solution is for both sets of lawyers to find some sort of middle ground, even if it is a settlement on the steps of the High Court. There is no direct contact anymore between the factions, with Hicks and Gillett one one side and the three English members of the board led by Broughton on the other.
Broughton told ESPNsoccernet exclusively: "All of these issues I cannot possibly comment on, as this is going to court, one would assume. We have no date for the hearing yet, but we are told it is a 'short order' and so it would be any day hopefully early next week. The lawyers have told me I am not unable to talk about the case directly."
However, without going into any legal detail, Broughton said: "Yes, I am confident we shall win. However we all know when you have two sets of lawyers they are both telling you that they are 100% confident that they will win."
There is one central key issue of the entire legal procedure, and Broughton made that abundantly clear: "We are going to the courts seeking clarification that we are able to proceed with the sale of Liverpool FC."
Although Hicks publicly declared that he had given no undertaking directly to Broughton about the constitution of the board and the sale process being determined by the board (rather than the shareholders when he did his deal with RBS to extend the facility for six months), Broughton confirmed that such an undertaking was given to RBS.
Broughton said: "The obligation was given to RBS as part of the loan extension agreement. If an undertaking was given to the major creditor, than an undertaking was given."
In another twist, leaked minutes from a Liverpool board meeting allegedly contain Hicks making personal and abusive comments about Liverpool fans, which will increase the hatred already felt by the supporters against the current owners.
http://soccernet.espn.go.com/news/st...ngland&cc=5739
You know, i thought you were alright, but nope you are a **** just like everyone has said.
And yes before i get the PM i know i will get infraction for this.
Lol, it is cool, i never thought you where alright. tbh i dont even know who you are, nice to know i made such an impression on your life.(K)
scott am in no mood for bad jokes about my club next week is most important week in the clubs history am more worrying about that scott i would of found that joke funny if it was posted 2 or 3weeks ago
i have got a good sense of humour just not at the moment
D
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Scott, you own, i love you.
I hope no one rich takes them over, i dont want any financial rivals.
I hope no one rich takes them over, i dont want any financial rivals.
Even further off topic, good effort Scott. |)
On topic, Hicks, please **** off.
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