Jump to content

Liverpool Football Club


Stilly
 Share

Recommended Posts

Epic cuntery on display here. Whatever happens, they lose money, so why delay the inevitable by spending even more money they don't have on legal processes? They surely can't expect to actually get remotely near that claimed damages

I wonder if RBS will try to negotiate something with the PL in order to pull the loan in the morning, and have the club sold by the afternoon without a penalty. I'm certainly no legal expert (:lol:), but surely the injunction would only stop the club being sold while Hicks can claim ownership. If the club goes into administration, Hick's can't claim ownership. The issue is in avoiding the point's loss.

Everywhere I look, it's Hicks and Gillet, but Gillet has no power in anything as he doesn't even own his share anymore because he defaulted on the original loan!

Link to comment
Share on other sites

Boring. We have a few high earners (nowhere near as high as you seem to think) but a smaller squad on a lower average wage. You mention Cole but you fail to consider that we had to offload Aquilani and Benayoun's wages in order to make that transfer. Our wage bill has been gradually reduced over the last couple of years.

boring and untrue. Last year our wage bill rocketed to take us over £100m per year which last yearvwas higher than spurs and city. Don't know about this year. It's probably been reduced. But last year purslow or someone got a load of stick for saying we'd spent what we normally spend tat window just a lot if it was on improved contracts.

Anyway this new twist is mental.

Link to comment
Share on other sites

What if hicks has managed to refinance the loan somewhere else or something? If he pays rbs their money tomorrow then what?

Good question. Though part of their case yesterday was that they recognised the need to sell the club and were happy to do so, just not for the price that had been agreed.

12.34pm: Back to court: "Representative for Hicks and Gillett claims case against them paints 'misleading picture of the issues'. This case is not about, he says, the owners trying to maintain their ownership of the club. They accept reality that their ownership will shortly come to an end. It's also not about owners trying to put spanner in the works regarding a sale. The owners accept that some sort of sale will have to occur. They are not intent on stopping sale to NESV. The owners' issue is that the board did not properly enter into the NESV agreement in that the directors did not properly consider alternative offers and so it is they who are in breach of the terms of the sale agreement with RBS."
Link to comment
Share on other sites

The problem is, surely, that the Americans are really getting a bad deal from their point of view, the fact that the deserve it wouldn't really count in court. It's going to come down as to if the American court thinks the sale is as reasonable as the British court does, but the American judge isn't going to give a fuck about Liverpool.

I can see this dragging on,

Link to comment
Share on other sites

Royal Bank of Scotland tells me that if it's true that Mill has taken the Hicks/Gillett shares and if Mill repays the £200m long-term debt owed by Liverpool FC (plus penalty fees) to RBS and Wachovia, then Mill is in the driving seat.

Once the debt is repaid, RBS's power ends.

At that point, the deal with New England Sports Ventures collapses.

Liverpool would have a new owner, Mill. And Mill will do with Liverpool what it pleases.

11.06am: Liverpool and Royal Bank of Scotland are to return to the High Court at 2pm this afternoon.

11.24am: "#LFC and #RBS in High Court to injunct against Hicks's restraining order. They claim a Texas court has no jurisdiction over UK company law," tweets Bloomberg's @tariqpanja

Link to comment
Share on other sites

The guardian site is an interesting read. Not only is the court order/documentation contain spelling errors, seems that the Texan judge knows hicks, who's given him campaign contributions in the past.

Link to comment
Share on other sites

It is being claimed the American based Hedge Fund has acquired all of Tom Hicks' shares to go along with those of George Gillett, which it already owned.

It is further claimed that if they repay all outstanding loans to RBS before the set deadline, they will by default become the new owners of LFC, nudging out New England Sports Ventures.

However the Echo understands the move would not signal Hicks and Gillett returning to ascendancy in the battle for the Reds.

Instead it is believed Mill Financial, in turn owned by Springfield Financial who have links with the Washington Redskins American Football team, may be acting on behalf of another, as yet unnamed and unknown group who have put themselves in a position to move in at the 11th hour and take over the club.

Sounds like a Bond villian* is moving to take control of Liverpool really.

*Austin Powers villian given the farcial nature of this story.

Link to comment
Share on other sites

Who's Mill?

The finance company who loaned Gillett £75m, and possibly some to Hicks too (that's a bit unclear). They were also implicated as one of the potential buyers in H&G's defence.

So I think, if I've got this right, because they now own shares in Liverpool (since Gillett defaulted), all they have to do is pay back RBS if they want to own us.

Link to comment
Share on other sites

Mill Financial. They're believed to have taken Gillet's 50% some time ago (after he defaulted). I don't see any reason to panic just yet. The board and RBS seem to be very much in control to me. They just went in and kicked fuck out of those two cowboys for us, I'm sure they'll get this mess sorted quickly.

Link to comment
Share on other sites

Update 1156: RBS feels its hands would be tied if £200m were to turn up in its accounts from Mill Financial.

At that point, its ability to determine the fate of Liverpool FC would be over.

What I cannot ascertain is what Mill would then do with Liverpool.

Is it buying to hold or buying to sell? And would there be any continuing relationship with Tom Hicks?

As and when I get answers, you will be the second to know.

Update, 1209: Liverpool's directors are due back in court at 1400, in an attempt - I am told - to somehow get around the Texas injunction on the sale to NESV.

So the race is on to see who can get the £200m into RBS's coffers faster - NESV or Mill?

After months of fearing they'd never get their money back, RBS must be laughing all the way to the...

Link to comment
Share on other sites

Idiot

He makes a living fucking people over, he is despicable and deserves no sympathy. His history speaks for itself. You will note, however, that I wished not so much as a broken arm on him, but given he is like the archetypal horror villain, how could I pass on the opportunity to see him depart once and for all. It is, afterall, a very natural process. There's no need to be squeamish.

Link to comment
Share on other sites

Rumours that they're going to be held in contempt of court today. You know what the best outcome would be? That they're sued into oblivion by RBS, Broughton, NESV and spend the rest of their days having to piss in the gutter. That I do actively wish upon them and yes, I would pay to watch it.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue. Use of this website is subject to our Privacy Policy, Terms of Use, and Guidelines.