Explain please?
- Thread starter Asbo
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Possible I suppose. We'll see soon enough no doubt.
Theoretically yes, it is possible, but Purslow and Ayre will know by now how grim the outlook will be if H and G cling on. It's hard to envisage them accepting such here-today-gone-tomorrow offers, however sugar-coated H and G may try to make them.
Interesting times indeed.
Interesting times indeed.
But surely the point is that, Broughton has been appointed to ensure s ale by October or the RBS could call in the loan. Part of the deal for extending the loan was that a buyer must be found.
That's were G&H's holding on for extra cash falls down, because they either pay off the debt or find a way of re-financing the debt. I don't think G&H have any rabbits left up their sleeve. They're "probably" valuing the club so highly because of future earning potential from the next television deal & a new stadium, but look like they're run out of time to be abe to continue under the current debt arrangements.
The reason they got in this mess in the first place is because they couldn't raise the capital to build the stadium.. so I can't see how they're raise the capital to re-finance the debt again.
Broughton's already said thatit's not about the deal that offers the most money... it's about the deal that ticks all the right boxes. I suppose, ultimately, if the Board recommend accepting an offer for the club, the only way G&H can refuse it is if they can guarantee alterntaive funding or pay off RBS themselves.
That's were G&H's holding on for extra cash falls down, because they either pay off the debt or find a way of re-financing the debt. I don't think G&H have any rabbits left up their sleeve. They're "probably" valuing the club so highly because of future earning potential from the next television deal & a new stadium, but look like they're run out of time to be abe to continue under the current debt arrangements.
The reason they got in this mess in the first place is because they couldn't raise the capital to build the stadium.. so I can't see how they're raise the capital to re-finance the debt again.
Broughton's already said thatit's not about the deal that offers the most money... it's about the deal that ticks all the right boxes. I suppose, ultimately, if the Board recommend accepting an offer for the club, the only way G&H can refuse it is if they can guarantee alterntaive funding or pay off RBS themselves.
Broughton is no mug if his reputation is anything to be believed. He'll know what he is talking about and I do believe him if he says that G&H cannot block the sale. Anyhow RBS can recall the loan and seize control of the club when the Americans default.
The denials and admissions mean that this is a serious bid and is moving along at speed. Me happy! ;D
Liverpool chairman Martin Broughton is understood to have received assurances from both Hicks and Gillett that they will not stand in the way of his recommendation for new owner.
The Americans will accede to the wishes of Broughton as long as he has the joint backing of the remaining two board members, managing director Christian Purslow and commercial director Ian Ayre. In reality, their three board votes would defeat the Americans’ two, if they took a joint stance.
That appears to make it ever clearer that Hicks and Gillett lost full control at Anfield as soon as Mr Broughton arrived on the board in April this year with a remit to sell the club.
It has always been denied that Mr Broughton was appointed at the behest of Liverpool’s chief creditors, Royal Bank of Scotland, but what is clear is that they are fully behind the sale process being overseen by the British Airways chairman.
A source familiar with the situation said he enjoys the “confidence†of RBS. Chinese businessman Kenny Huang, is offering around £325m – far short of the £600m-plus price tag the Americans would like to sell for.
The club has a total debt of around £350m, with £237m of that owed to RBS. Any successful offer from Mr Huang is likely to have to involve paying off the total debts.
It is not believed a deal on LFC is imminent as the due diligence process being overseen by Mr Broughton is not straightforward. He has made it clear it is not simply a matter of accepting the highest bid, but rather assessing who is involved in the different consortiums, where the money is coming from, how much is being borrowed, and how much cash will be available for players and the crucial new stadium.
The denials and admissions mean that this is a serious bid and is moving along at speed. Me happy! ;D
Liverpool chairman Martin Broughton is understood to have received assurances from both Hicks and Gillett that they will not stand in the way of his recommendation for new owner.
The Americans will accede to the wishes of Broughton as long as he has the joint backing of the remaining two board members, managing director Christian Purslow and commercial director Ian Ayre. In reality, their three board votes would defeat the Americans’ two, if they took a joint stance.
That appears to make it ever clearer that Hicks and Gillett lost full control at Anfield as soon as Mr Broughton arrived on the board in April this year with a remit to sell the club.
It has always been denied that Mr Broughton was appointed at the behest of Liverpool’s chief creditors, Royal Bank of Scotland, but what is clear is that they are fully behind the sale process being overseen by the British Airways chairman.
A source familiar with the situation said he enjoys the “confidence†of RBS. Chinese businessman Kenny Huang, is offering around £325m – far short of the £600m-plus price tag the Americans would like to sell for.
The club has a total debt of around £350m, with £237m of that owed to RBS. Any successful offer from Mr Huang is likely to have to involve paying off the total debts.
It is not believed a deal on LFC is imminent as the due diligence process being overseen by Mr Broughton is not straightforward. He has made it clear it is not simply a matter of accepting the highest bid, but rather assessing who is involved in the different consortiums, where the money is coming from, how much is being borrowed, and how much cash will be available for players and the crucial new stadium.
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