Could someone who understands business and finance explain to me what this is all about? I've read several completely contradictory reports, some saying it's a cosmetic move designed to buy G and H more time; others saying it's a positive step towards the club being sold to new owners. I've even heard (just a rumour) that there is a Red Knights-esque group of Liverpool-supporting businessmen in London who've got a bid for the club prepared. The latter is probably bullshit, but I mention it in case anyone has heard anything similar. But anyway, is this good news, bad news, or who-the-fuck-knows news?
Barclays Capital etc
- Thread starter TheBunnyman
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and where do RBS fit in if Barclays are sniffing around?
[quote author=SaintGeorge67 link=topic=39787.msg1086664#msg1086664 date=1271015932]
and where do RBS fit in if Barclays are sniffing around?
[/quote]
They're not just sniffing around, are they? The deal's been agreed. They're putting £60m into the club. At least, that's what I read. Let me try and find an article...
and where do RBS fit in if Barclays are sniffing around?
[/quote]
They're not just sniffing around, are they? The deal's been agreed. They're putting £60m into the club. At least, that's what I read. Let me try and find an article...
Here's the Times article, which is the most positive slant I've seen on the matter. According to people 'in the know' at RAWK, though, it's just Hicks' spin-team's version of events.
And this is the Press Association story:
Who the fuck knows news is the best bet.
I've only read a couple of things but it looks like if Barclays offer us the finance we don't need to repay the 100m that RBS were looking for this summer prior to refinancing. But they'll also be installing someone to sit on the board at the club - the new Chairman.
And they've taken on the task of selling the club too, which was probably a condition of the refinancing. So they'll make their money in two ways on the deal.
I don't think this buys G&H any time, although I can see where that train of thought comes from - the deadline from RBS is not an issue anymore. This deal pretty much spells the end of the Yanks. Had they gotten the finance from RBS and a minority investment they'd be hanging around much longer.
I'm guessing that if the SOS conspiracy theories were right about Purslow being an RBS appointment he'll be leaving once this deal is done.
What effect this has on decision making, like transfer spending and sacking the manager, at the club is hard to fathom.
I've only read a couple of things but it looks like if Barclays offer us the finance we don't need to repay the 100m that RBS were looking for this summer prior to refinancing. But they'll also be installing someone to sit on the board at the club - the new Chairman.
And they've taken on the task of selling the club too, which was probably a condition of the refinancing. So they'll make their money in two ways on the deal.
I don't think this buys G&H any time, although I can see where that train of thought comes from - the deadline from RBS is not an issue anymore. This deal pretty much spells the end of the Yanks. Had they gotten the finance from RBS and a minority investment they'd be hanging around much longer.
I'm guessing that if the SOS conspiracy theories were right about Purslow being an RBS appointment he'll be leaving once this deal is done.
What effect this has on decision making, like transfer spending and sacking the manager, at the club is hard to fathom.
[quote author=TheBunnyman link=topic=39787.msg1086670#msg1086670 date=1271016339]
Here's the Times article, which is the most positive slant I've seen on the matter. According to people 'in the know' at RAWK, though, it's just Hicks' spin-team's version of events.
If that's the spun version then Hicks needs new PR. Mentions of a "cash crisis" and constant infighting at the club is hardly good PR.
Here's the Times article, which is the most positive slant I've seen on the matter. According to people 'in the know' at RAWK, though, it's just Hicks' spin-team's version of events.
[/quote]
If that's the spun version then Hicks needs new PR. Mentions of a "cash crisis" and constant infighting at the club is hardly good PR.
Thanks Ross. You were my main hope for some rational, objective analysis.
So you think the Yanks will be gone this summer, or is nothing definite?
And you haven't heard anything about this supposed Liverpool-supporting London hedge fund?
So you think the Yanks will be gone this summer, or is nothing definite?
And you haven't heard anything about this supposed Liverpool-supporting London hedge fund?
I always liked Purslow, would be a shame if he went.
[quote author=TheBunnyman link=topic=39787.msg1086686#msg1086686 date=1271017659]
Thanks Ross. You were my main hope for some rational, objective analysis.
So you think the Yanks will be gone this summer, or is nothing definite?
And you haven't heard anything about this supposed Liverpool-supporting London hedge fund?
[/quote]
Not a thing, but I haven't exactly been keeping track of anything in the past few days.
I've got no idea with regards to how soon the club will change hands but obviously the sooner the better. We need a clearout and some fresh thinking at the club.
Thanks Ross. You were my main hope for some rational, objective analysis.
So you think the Yanks will be gone this summer, or is nothing definite?
And you haven't heard anything about this supposed Liverpool-supporting London hedge fund?
[/quote]
Not a thing, but I haven't exactly been keeping track of anything in the past few days.
I've got no idea with regards to how soon the club will change hands but obviously the sooner the better. We need a clearout and some fresh thinking at the club.
[quote author=keniget link=topic=39787.msg1086690#msg1086690 date=1271017965]
On an aside, I was told today that Purslow and Benitez do not have a good relationship at all, which I found odd as I'm sure it's always said Purslow is a big fan.
Anyone heard anything similar?
[/quote]
Where did that come from Keni ?
I wouldn't be entirely surprised, but that's mainly because Benitez doesn't seem to have a good relationship with anybody else he works with.
On an aside, I was told today that Purslow and Benitez do not have a good relationship at all, which I found odd as I'm sure it's always said Purslow is a big fan.
Anyone heard anything similar?
[/quote]
Where did that come from Keni ?
I wouldn't be entirely surprised, but that's mainly because Benitez doesn't seem to have a good relationship with anybody else he works with.
Barclays sudden involvement to take on the debt from RBS and a new chairman seems odd to me. I wonder if there is someone else behind this pulling the strings
Regards
Regards
According to a journo called Alan Myers on SSN the Board is now comprised of Ayres, Purslow, Broughton, Gillett and Hicks. Neither of them can block any ideas on the day to day side of things.
He also mentioned that in the four years the Yanks have been in charge we've spent double what was spent in the last 5 years of Moores' tenure.
He also mentioned that in the four years the Yanks have been in charge we've spent double what was spent in the last 5 years of Moores' tenure.
[quote author=Rosco link=topic=39787.msg1086848#msg1086848 date=1271057740]
According to a journo called Alan Myers on SSN the Board is now comprised of Ayres, Purslow, Broughton, Gillett and Hicks. Neither of them can block any ideas on the day to day side of things.
He also mentioned that in the four years the Yanks have been in charge we've spent double what was spent in the last 5 years of Moores' tenure.
[/quote]
inflation and an over inflated market. you may as well say roy evans spent shits loads more than shankly. what? REALLY?!
According to a journo called Alan Myers on SSN the Board is now comprised of Ayres, Purslow, Broughton, Gillett and Hicks. Neither of them can block any ideas on the day to day side of things.
He also mentioned that in the four years the Yanks have been in charge we've spent double what was spent in the last 5 years of Moores' tenure.
[/quote]
inflation and an over inflated market. you may as well say roy evans spent shits loads more than shankly. what? REALLY?!
this is all going to come to a head in the summer. we will almost certainly not make the CL this year so the owners (who that may be) will have to decide how much they want us to return to the elite because man city will spend big to consolidate their position
[quote author=Vlads Quiff link=topic=39787.msg1086703#msg1086703 date=1271019011]
Barclays sudden involvement to take on the debt from RBS and a new chairman seems odd to me. I wonder if there is someone else behind this pulling the strings
Regards
[/quote]
Vlad, do you actually know something or are you just guessing? If you have any actual information, I'd love to hear it - by PM if necessary.
Barclays sudden involvement to take on the debt from RBS and a new chairman seems odd to me. I wonder if there is someone else behind this pulling the strings
Regards
[/quote]
Vlad, do you actually know something or are you just guessing? If you have any actual information, I'd love to hear it - by PM if necessary.
[quote author=TheBunnyman link=topic=39787.msg1086861#msg1086861 date=1271059437]
[quote author=Vlads Quiff link=topic=39787.msg1086703#msg1086703 date=1271019011]
Barclays sudden involvement to take on the debt from RBS and a new chairman seems odd to me. I wonder if there is someone else behind this pulling the strings
Regards
[/quote]
Vlad, do you actually know something or are you just guessing? If you have any actual information, I'd love to hear it - by PM if necessary.
[/quote]
from what someone has told me on another forum (and confirmed in the times) barclays have NOT taken on the debt, all the requirements of RBS (reduce loan by 100m) still apply, barclays have come on board to find a buyer for the club.
[quote author=Vlads Quiff link=topic=39787.msg1086703#msg1086703 date=1271019011]
Barclays sudden involvement to take on the debt from RBS and a new chairman seems odd to me. I wonder if there is someone else behind this pulling the strings
Regards
[/quote]
Vlad, do you actually know something or are you just guessing? If you have any actual information, I'd love to hear it - by PM if necessary.
[/quote]
from what someone has told me on another forum (and confirmed in the times) barclays have NOT taken on the debt, all the requirements of RBS (reduce loan by 100m) still apply, barclays have come on board to find a buyer for the club.
Word Out of England: Bank Extends Liverpool Loan If Hicks Looks for Buyer
By Robert Wilonsky, Sunday, Apr. 11 2010 @ 5:36PM
At 9 this morning, I asked Tom Hicks's local spokesperson Lisa LeMaster to comment on reports out of England that he's finally ready to sell Liverpool FC. No word yet -- perhaps because The Official Word's not expected till later this week. So, instead, looks like we'll have to go with U.K. sources-said. As in: The Times has learned that Royal Bank of Scotland, to whom Hicks and co-owner George Gillett owe £237 million (along with Wachovia in the U.S.) no later than July, has agreed to give the twosome more time to pay down their note.
But there's a catch, according to the paper's sources: "RBS has indicated that it will grant a six-month extension of the loan provided that the American owners can convince the bank's board by July that they genuinely intend to sell." Geniunely being the operative word, following Hicks's decision to pass on Rhone Group's £100-million offer last week. And don't forget: Two years ago, Hicks also nixed Dubai International Capital's $800 million offer. Those were the days.
The U.K. papers are saying this time around, Hicks and Gillett do intend -- kinda got no choice at this point. From The Guardian: "The pair have hired the mergers and acquisitions arm of Barclays Bank to help find a buyer and are expected to announce the appointment of Martin Broughton, the chairman of British Airways, as independent chairman early this week." Which, if true, might explain what Hicks and Gillett were doing in England last week, when the twosome were said to have been meeting with attorneys about a sale. The Spirit of Shankly will believe it when it sees it.
Meanwhile, Chuck Greenberg's still waiting for Major League Baseball to get those danged creditors to sign off on the Texas Rangers sale. And three interested parties are lined up to crack open the Dallas Stars' books.
Word Out of England: Bank Extends Liverpool Loan If Hicks Looks for Buyer - Dallas News - Unfair Park
By Robert Wilonsky, Sunday, Apr. 11 2010 @ 5:36PM
At 9 this morning, I asked Tom Hicks's local spokesperson Lisa LeMaster to comment on reports out of England that he's finally ready to sell Liverpool FC. No word yet -- perhaps because The Official Word's not expected till later this week. So, instead, looks like we'll have to go with U.K. sources-said. As in: The Times has learned that Royal Bank of Scotland, to whom Hicks and co-owner George Gillett owe £237 million (along with Wachovia in the U.S.) no later than July, has agreed to give the twosome more time to pay down their note.
But there's a catch, according to the paper's sources: "RBS has indicated that it will grant a six-month extension of the loan provided that the American owners can convince the bank's board by July that they genuinely intend to sell." Geniunely being the operative word, following Hicks's decision to pass on Rhone Group's £100-million offer last week. And don't forget: Two years ago, Hicks also nixed Dubai International Capital's $800 million offer. Those were the days.
The U.K. papers are saying this time around, Hicks and Gillett do intend -- kinda got no choice at this point. From The Guardian: "The pair have hired the mergers and acquisitions arm of Barclays Bank to help find a buyer and are expected to announce the appointment of Martin Broughton, the chairman of British Airways, as independent chairman early this week." Which, if true, might explain what Hicks and Gillett were doing in England last week, when the twosome were said to have been meeting with attorneys about a sale. The Spirit of Shankly will believe it when it sees it.
Meanwhile, Chuck Greenberg's still waiting for Major League Baseball to get those danged creditors to sign off on the Texas Rangers sale. And three interested parties are lined up to crack open the Dallas Stars' books.
Word Out of England: Bank Extends Liverpool Loan If Hicks Looks for Buyer - Dallas News - Unfair Park
I heard that BarCap were being brought in from someone last week (who works there), who just said they were being tasked with the sale of the club. But were also looking for "investment opportunities"
It's all very confusing.
It's all very confusing.
The Guardian report:
Tom Hicks and George Gillett, Liverpool's unpopular co-owners, are expected to officially put the club up for sale this week but are unlikely to appease the manager, Rafael BenÃtez, or supporters opposed to their reign with an imminent departure from Anfield.
The Americans have received an option to extend their refinancing deal this summer from the Royal Bank of Scotland, their lenders, in response to the struggle to bring new investment into the club. The pair have hired the mergers and acquisitions arm of Barclays Bank to help find a buyer and are expected to announce the appointment of Martin Broughton, the chairman of British Airways, as independent chairman early this week.
Broughton's task will be to oversee the search for investment and secure the Americans' latest refinancing package at Liverpool in the meantime. Previously, and in a sign of their fractured business relationship, Hicks and Gillett appointed two separate banks, Rothschild and Merrill Lynch, to find an investor but have failed to receive an offer that meets their asking price of around £500m. The only official offer to emerge was The Rhône Group's proposal of £110m for a 40% stake in Liverpool, although its deadline for a response passed last Monday.
The appointment of Barclays and Broughton, a Chelsea fan, had raised hope among Liverpool supporters opposed to Hicks and Gillett of their swift exit and much-needed transfer funds for BenÃtez this summer. However, the absence of any suitable offers has led the co-owners to seek an extension to their refinancing deal and they have made progress with the RBS following talks in London last week.
It is understood a condition of RBS's latest refinancing deal – which amounts to a six-month extension – is a commitment from Hicks and Gillett that they intend to relinquish their hold on Liverpool. The Americans are expected to announce they will stand down as co-chairmen this week although, given the extension from the RBS and the bank's insistence that £100m of the club's £237m debt is repaid, their controversial tenure is likely to continue for some time.
That could have an impact on BenÃtez's spending power in the summer, with the prospect of Champions League qualification fading after today's goalless draw at home to Fulham. "I don't have too much information on this at this moment," the Liverpool manager said.There have been reports of a second refinancing offer to Hicks and Gillett, comprising a three-year deal worth £300m from Barclays that would see the bank displace the RBS. Anfield officials have distanced themselves from a refinancing deal with Barclays. However, Hicks and Gillett could explore a deal with Barclays as a fallback option.
Tom Hicks and George Gillett, Liverpool's unpopular co-owners, are expected to officially put the club up for sale this week but are unlikely to appease the manager, Rafael BenÃtez, or supporters opposed to their reign with an imminent departure from Anfield.
The Americans have received an option to extend their refinancing deal this summer from the Royal Bank of Scotland, their lenders, in response to the struggle to bring new investment into the club. The pair have hired the mergers and acquisitions arm of Barclays Bank to help find a buyer and are expected to announce the appointment of Martin Broughton, the chairman of British Airways, as independent chairman early this week.
Broughton's task will be to oversee the search for investment and secure the Americans' latest refinancing package at Liverpool in the meantime. Previously, and in a sign of their fractured business relationship, Hicks and Gillett appointed two separate banks, Rothschild and Merrill Lynch, to find an investor but have failed to receive an offer that meets their asking price of around £500m. The only official offer to emerge was The Rhône Group's proposal of £110m for a 40% stake in Liverpool, although its deadline for a response passed last Monday.
The appointment of Barclays and Broughton, a Chelsea fan, had raised hope among Liverpool supporters opposed to Hicks and Gillett of their swift exit and much-needed transfer funds for BenÃtez this summer. However, the absence of any suitable offers has led the co-owners to seek an extension to their refinancing deal and they have made progress with the RBS following talks in London last week.
It is understood a condition of RBS's latest refinancing deal – which amounts to a six-month extension – is a commitment from Hicks and Gillett that they intend to relinquish their hold on Liverpool. The Americans are expected to announce they will stand down as co-chairmen this week although, given the extension from the RBS and the bank's insistence that £100m of the club's £237m debt is repaid, their controversial tenure is likely to continue for some time.
That could have an impact on BenÃtez's spending power in the summer, with the prospect of Champions League qualification fading after today's goalless draw at home to Fulham. "I don't have too much information on this at this moment," the Liverpool manager said.There have been reports of a second refinancing offer to Hicks and Gillett, comprising a three-year deal worth £300m from Barclays that would see the bank displace the RBS. Anfield officials have distanced themselves from a refinancing deal with Barclays. However, Hicks and Gillett could explore a deal with Barclays as a fallback option.
[quote author=Brendan link=topic=39787.msg1086866#msg1086866 date=1271060137]
I heard that BarCap were being brought in from someone last week (who works there), who just said they were being tasked with the sale of the club. But were also looking for "investment opportunities"
It's all very confusing.
[/quote]
And you didn't share this inside information with 6CM? Shame on you, Brendan!
I heard that BarCap were being brought in from someone last week (who works there), who just said they were being tasked with the sale of the club. But were also looking for "investment opportunities"
It's all very confusing.
[/quote]
And you didn't share this inside information with 6CM? Shame on you, Brendan!
That's pretty much my take on it. RBS have given the owners 6 months to sell up and BarCap will simply be doing the legwork to find new owners and not paying off the money owed to RBS. Hopefully this is a positive step with a speedy resolution, one that is finalised before the season starts. However, any potential investors will surely hang on as long as possible to engineer the price down. I can see the start of next season being pretty much the same as this.
[quote author=TheBunnyman link=topic=39787.msg1086868#msg1086868 date=1271060285]
[quote author=Brendan link=topic=39787.msg1086866#msg1086866 date=1271060137]
I heard that BarCap were being brought in from someone last week (who works there), who just said they were being tasked with the sale of the club. But were also looking for "investment opportunities"
It's all very confusing.
[/quote]
And you didn't share this inside information with 6CM? Shame on you, Brendan!
[/quote]
Well, it was sent to me on Thursday, and I thought it was common knowledge by then?
[quote author=Brendan link=topic=39787.msg1086866#msg1086866 date=1271060137]
I heard that BarCap were being brought in from someone last week (who works there), who just said they were being tasked with the sale of the club. But were also looking for "investment opportunities"
It's all very confusing.
[/quote]
And you didn't share this inside information with 6CM? Shame on you, Brendan!
[/quote]
Well, it was sent to me on Thursday, and I thought it was common knowledge by then?
[quote author=Sheik Yerbouti link=topic=39787.msg1086869#msg1086869 date=1271060454]
That's pretty much my take on it. RBS have given the owners 6 months to sell up and BarCap will simply be doing the legwork to find new owners and not paying off the money owed to RBS. Hopefully this is a positive step with a speedy resolution, one that is finalised before the season starts. However, any potential investors will surely hang on as long as possible to engineer the price down. I can see the start of next season being pretty much the same as this.
[/quote]
The fella on SSN mentioned three potential buyers, one in India, one middle east based and a third unkown one.
It seems nothing has changed
That's pretty much my take on it. RBS have given the owners 6 months to sell up and BarCap will simply be doing the legwork to find new owners and not paying off the money owed to RBS. Hopefully this is a positive step with a speedy resolution, one that is finalised before the season starts. However, any potential investors will surely hang on as long as possible to engineer the price down. I can see the start of next season being pretty much the same as this.
[/quote]
The fella on SSN mentioned three potential buyers, one in India, one middle east based and a third unkown one.
It seems nothing has changed
[quote author=Rosco link=topic=39787.msg1086700#msg1086700 date=1271018628]
[quote author=keniget link=topic=39787.msg1086690#msg1086690 date=1271017965]
On an aside, I was told today that Purslow and Benitez do not have a good relationship at all, which I found odd as I'm sure it's always said Purslow is a big fan.
Anyone heard anything similar?
[/quote]
Where did that come from Keni ?
I wouldn't be entirely surprised, but that's mainly because Benitez doesn't seem to have a good relationship with anybody else he works with.
[/quote]
Except that he's gone public in the not too distant past about how much he appreciates Purslow's support.
[quote author=keniget link=topic=39787.msg1086690#msg1086690 date=1271017965]
On an aside, I was told today that Purslow and Benitez do not have a good relationship at all, which I found odd as I'm sure it's always said Purslow is a big fan.
Anyone heard anything similar?
[/quote]
Where did that come from Keni ?
I wouldn't be entirely surprised, but that's mainly because Benitez doesn't seem to have a good relationship with anybody else he works with.
[/quote]
Except that he's gone public in the not too distant past about how much he appreciates Purslow's support.
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