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Is This A Can Of Worms I See Before Me ?

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themn

themn

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Leaked by Spirit Of Shankly, maybe ?

From The Echo.


http://goo.gl/KE142

Christian Purslow 'slammed NESV deal' to buy Liverpool FC before the sale

?

EXCLUSIVE by David Bartlett at the High Court

Feb 11 2011

WHAT PURSLOW TOLD LFC BOARD IN EMAIL

“TO GET it straight, I think we should avoid the natural temptation to jump straight in to the deal with NESV. Whilst they are charming, intelligent and credible their bid is by any standards at the extreme bottom end of the of the ‘right deal’ threshold we set for ourselves: it only reduces debt by less than half and is I feel unlikely to yield incremental equity to fund a stadium.

“They may say they have money if necessary but I do not take this very seriously. Their eyes only lit up at the idea of other opportunity improvements. An American deal guy simply can't avoid using other people's money if they can.

"There is no extra money on the table to enable short-term investment in what remains a squad palpably needing more quality if we are to be definitively top four. New American sport team owners with the senior guy being a hedge fund manager could not be worst from an image standpoint, which is an issue for us independents. I have not even talked about valuation. I leave that to other members of the board.

"So what is positive? Answer, they exist. Which is not a lot, but it is not to be underestimated in importance."

?

He then suggests they "double check that none of the possibles who have come and gone in the last 18 months to apparent levels lower than Sharjah but higher than NESV are not there.

"So I repeat this is a bottom of the barrel outcome," he ends.
 
I think that's being a bit harsh though; itwould have been his job to try to get the best deal possible and he might hve hoped for bigger offers from elsewhere.
 
I saw on the news the other night that H&G are back around trying to sue over the epic swindle like they said they would. Wasn't really listening properly though.
 
[quote author=doctor_mac link=topic=44189.msg1283598#msg1283598 date=1297422852]
G&H have obviously released this.
[/quote]

Yeah, that's a good guess.

My instinct is that the old Yanks are just hoping for some quick settlement from NESV to make them go away.

There were no other real takers except for a fake Syrian and that hedge fund; and the directors whilst owing their greatest duty to the shareholders (GnH) still have to ensure the viability of the club after the sale. The directors wouldnt be expected to ratify any sale that netted the most money for them at the expense of risking the club to bankruptcy or administration and the loss of thousands of jobs and the destrction of one of the worlds most important sporting names.
 
Everything he said is essentially correct. But Nesv were still by far the best choice for the future.
 
[quote author=Avvy link=topic=44189.msg1283604#msg1283604 date=1297423231]
[quote author=doctor_mac link=topic=44189.msg1283598#msg1283598 date=1297422852]
G&H have obviously released this.
[/quote]

Yeah, that's a good guess.

My instinct is that the old Yanks are just hoping for some quick settlement from NESV to make them go away.

There were no other real takers except for a fake Syrian and that hedge fund; and the directors whilst owing their greatest duty to the shareholders (GnH) still have to ensure the viability of the club after the sale. The directors wouldnt be expected to ratify any sale that netted the most money for them at the expense of risking the club to bankruptcy or administration and the loss of thousands of jobs and the destrction of one of the worlds most important sporting names.
[/quote]

Why was he faking being Syrian? What good would that do him?
 
[quote author=Rosco link=topic=44189.msg1283606#msg1283606 date=1297423349]
Everything he said is essentially correct. But Nesv were still by far the best choice for the future.

[/quote]

We hope so.
 
[quote author=Rosco link=topic=44189.msg1283606#msg1283606 date=1297423349]
Everything he said is essentially correct. But Nesv were still by far the best choice for the future.


[/quote]

Yeah, I have no problem with his summation, many of us felt the same. From a purely financial viewpoint they are very close to the bottom of the barrel, it's their viewpoint on sports, or at least their 'supposed' viewpoint on sports & traditions that mean they look a lot more like the owners we've been hoping for.

To believe they are the perfect owners is naive, to believe they are possibly the best choice is simply facing the facts.
 
I can't see that an isolated email in a bunch of them makes any difference. The question in court before was: did the board act legally?

The verdict was that they did. On what basis could that be overturned?, expressing a view in an email (which we haven't got the other emails in which to contextualize it) isn't going to do it; only evidence of insider trading or some other unlawful act. Saying you might have got a better deal if you'd have hung on long enough isn't a defence is it?

I've no doubt Broughton, Henry etc would've been ready and expecting further legal challenges, I'm sure there'll be others until G&H exhaust their cash or law firms won't represent them. They got this deal wrong is all. Eventually they'll suck it up.
 
[quote author=Rosco link=topic=44189.msg1283623#msg1283623 date=1297424177]
Why does every headline need to be so dramatic?
[/quote]

I know. I'm not getting involved in this one. Groundhog day
 
Context & date are all important here. Might be early in the negotiation. Certainly sounds like initial discussions.

Who benefits from this. SOS & G&H as they both have an axe to grind.

In any case it's bullshit - they've shown they will invest if it's right & their not loading purchase debt on to the club.
 
[quote author=FoxForceFive link=topic=44189.msg1283609#msg1283609 date=1297423417]
[quote author=Avvy link=topic=44189.msg1283604#msg1283604 date=1297423231]
[quote author=doctor_mac link=topic=44189.msg1283598#msg1283598 date=1297422852]
G&H have obviously released this.
[/quote]

Yeah, that's a good guess.

My instinct is that the old Yanks are just hoping for some quick settlement from NESV to make them go away.

There were no other real takers except for a fake Syrian and that hedge fund; and the directors whilst owing their greatest duty to the shareholders (GnH) still have to ensure the viability of the club after the sale. The directors wouldnt be expected to ratify any sale that netted the most money for them at the expense of risking the club to bankruptcy or administration and the loss of thousands of jobs and the destrction of one of the worlds most important sporting names.
[/quote]

Why was he faking being Syrian? What good would that do him?
[/quote]

*considers flashing his longjohns*
 
The fact that NESV have kept Purslow on the board provides a pretty comprehensive response to anyone trying to stir up discontent within the club. It's a non-issue.
 
I thought NESV are nothing to do with the court case. G&H 's case is against the old board and the RBS its got nothing to do with the club.
 
[quote author=StevieM link=topic=44189.msg1283633#msg1283633 date=1297424835]
Context & date are all important here. Might be early in the negotiation. Certainly sounds like initial discussions.

Who benefits from this. SOS & G&H as they both have an axe to grind.

In any case it's bullshit - they've shown they will invest if it's right & their not loading purchase debt on to the club.
[/quote]

They havent shown a willingness to invest, they have showed a willingness to allow the club to spend what it earns.
 
[quote author=Rosco link=topic=44189.msg1283769#msg1283769 date=1297429058]
[quote author=StevieM link=topic=44189.msg1283633#msg1283633 date=1297424835]
Context & date are all important here. Might be early in the negotiation. Certainly sounds like initial discussions.

Who benefits from this. SOS & G&H as they both have an axe to grind.

In any case it's bullshit - they've shown they will invest if it's right & their not loading purchase debt on to the club.
[/quote]

They havent shown a willingness to invest, they have showed a willingness to allow the club to spend what it earns.


[/quote]

They were allowing Commolli and Kenny to invest at least another 10-15m in the transfer window.
 
I think using the term investment when you are talking about spending on players is misleading. It gives the impression that one party is funding the business of another, when there is no evidence to support it.

One of the reasons why shrewder American owners like Henry only arrived recently is because of the impending Financial Fair Play rules which rule out big investments by the owners into clubs for plsyers. He isnt about to throw his money away on players. We will continue to spend what the club can afford to, 15m wouldnt have been unreasonable based on matchbox calculations.

Also the 200m they bought the club with, the source of funding was never revealed.

Im a long standing fan of Nesv, but i think we will win because of the brains they bring to the organisation. Not the money.
 
We have had enough money in the last 15 years to win one title. We are already a much smarter organisation than ever before based on the Torres deal, its only a matter of time before we succeed. We have the money and the staff in place to ensure a title.
 
Wouldn't disagree with that, but John Henry himself has indicated it won't happen overnight and they'll have to make sure the money supply keeps up meanwhile. It may not take vast amounts of extra cash over and above what we can generate, but there may well be times when some pump-priming is called for.
 
That so? I hadn't realised they were quite *that* strict.

The current big spenders really are going to have draw their horns in, aren't they?
 
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