Kenny Huang leading serious bid for LFC
- Thread starter Jürgen4PM
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It's Bamba time....
Just to bring a little sanity to the guessing-games as to who I’m ‘working for’. No-one. I’m certainly not cheerleading one particular bid. I salute the work Jack Slater and others are doing in urging caution and proper detailed scrutiny before we welcome a new bunch of well-heeled saviours through the Shankly Gates. That said, the Huang bid is the one I know a lot about; have done for a while; and am satisfied, via friends, colleagues and contacts inside and outside LFC and the City of London financial community, that his bid and his proposal for the future development of the club stacks up. If there’s another bid of substance that is currently on the table complete with proof of funding, then neither myself or anyone I rely upon for a credible inside track knows about it.
There was definitely a feeling on Friday afternoon that Huang was to be named preferred bidder. It remains a mystery as to why the club advised, around tea-time last Friday, that an official statement was coming within the hour, only for the non-committal statement we all saw to be issued some three or four hours later. It was also odd listening to Christian Purslow state on 5Live that no bid was jumping out as being particularly attractive at the moment, and none had supplied proof of funding. Huang’s bid came complete with the necessary proofs, though a well-placed financial journalist thinks the club has asked for more documentation.
The same journo is convinced that Huang’s proposed takeover has come down to a blinking match. Martin Broughton is looking for a richer valuation than Huang is prepared to pay. Huang is adamant he’ll put as little profit as possible in the current owners’ pockets. Something has to give, and it could be that Huang retires for the time being, if a deal can’t be concluded in time for Roy Hodgson to invest in the current transfer market.
In terms of my gagging, Alan F has it spot on. By a process of elimination, those closest to the sale process will work out who is giving classified information to the likes of myself. For my part, I’ve passed some of that on to the moderators of this site, so they’re satisfied there’s no skulduggery or stealth PR going on. There’s a lot of fascinating detail to reveal, and in time it will all come out. For now, I really am going to shut it. I want Hicks and Gillett gone, and I’m not saying anything more that might in any way stop, or delay that happening.
Keep checking The Times. The two Tonys speak to the same people, and they’re the only journalists who keep calling this takeover accurately.
Just to bring a little sanity to the guessing-games as to who I’m ‘working for’. No-one. I’m certainly not cheerleading one particular bid. I salute the work Jack Slater and others are doing in urging caution and proper detailed scrutiny before we welcome a new bunch of well-heeled saviours through the Shankly Gates. That said, the Huang bid is the one I know a lot about; have done for a while; and am satisfied, via friends, colleagues and contacts inside and outside LFC and the City of London financial community, that his bid and his proposal for the future development of the club stacks up. If there’s another bid of substance that is currently on the table complete with proof of funding, then neither myself or anyone I rely upon for a credible inside track knows about it.
There was definitely a feeling on Friday afternoon that Huang was to be named preferred bidder. It remains a mystery as to why the club advised, around tea-time last Friday, that an official statement was coming within the hour, only for the non-committal statement we all saw to be issued some three or four hours later. It was also odd listening to Christian Purslow state on 5Live that no bid was jumping out as being particularly attractive at the moment, and none had supplied proof of funding. Huang’s bid came complete with the necessary proofs, though a well-placed financial journalist thinks the club has asked for more documentation.
The same journo is convinced that Huang’s proposed takeover has come down to a blinking match. Martin Broughton is looking for a richer valuation than Huang is prepared to pay. Huang is adamant he’ll put as little profit as possible in the current owners’ pockets. Something has to give, and it could be that Huang retires for the time being, if a deal can’t be concluded in time for Roy Hodgson to invest in the current transfer market.
In terms of my gagging, Alan F has it spot on. By a process of elimination, those closest to the sale process will work out who is giving classified information to the likes of myself. For my part, I’ve passed some of that on to the moderators of this site, so they’re satisfied there’s no skulduggery or stealth PR going on. There’s a lot of fascinating detail to reveal, and in time it will all come out. For now, I really am going to shut it. I want Hicks and Gillett gone, and I’m not saying anything more that might in any way stop, or delay that happening.
Keep checking The Times. The two Tonys speak to the same people, and they’re the only journalists who keep calling this takeover accurately.
[quote author=Wilko link=topic=41235.msg1156877#msg1156877 date=1282166238]
[quote author=Paddy link=topic=41235.msg1156873#msg1156873 date=1282166183]
The Times is supposedly going to have a big story tonight on the takeover.
[/quote]
How do you know, old boy?
[/quote]
Plenty going around Twitter about it...
[quote author=Paddy link=topic=41235.msg1156873#msg1156873 date=1282166183]
The Times is supposedly going to have a big story tonight on the takeover.
[/quote]
How do you know, old boy?
[/quote]
Plenty going around Twitter about it...
I kind of hoped that Bamba had died. Never mind.
[quote author=Paddy link=topic=41235.msg1156879#msg1156879 date=1282166458]
[quote author=Wilko link=topic=41235.msg1156877#msg1156877 date=1282166238]
[quote author=Paddy link=topic=41235.msg1156873#msg1156873 date=1282166183]
The Times is supposedly going to have a big story tonight on the takeover.
[/quote]
How do you know, old boy?
[/quote]
Plenty going around Twitter about it...
[/quote]
I've never used the service. Does one need to be a twit?
[quote author=Wilko link=topic=41235.msg1156877#msg1156877 date=1282166238]
[quote author=Paddy link=topic=41235.msg1156873#msg1156873 date=1282166183]
The Times is supposedly going to have a big story tonight on the takeover.
[/quote]
How do you know, old boy?
[/quote]
Plenty going around Twitter about it...
[/quote]
I've never used the service. Does one need to be a twit?
Rumours that Huang is threatening to walk away from a deal. Apparently.
[quote author=Sheik Yerbouti link=topic=41235.msg1156888#msg1156888 date=1282167094]
Rumours that Huang is threatening to walk away from a deal. Apparently.
[/quote]
fucks sakes...
Rumours that Huang is threatening to walk away from a deal. Apparently.
[/quote]
fucks sakes...
[quote author=Sheik Yerbouti link=topic=41235.msg1156888#msg1156888 date=1282167094]
Rumours that Huang is threatening to walk away from a deal. Apparently.
[/quote]
Is it not that he will then bide his time if he does not get it done in time to give Roy transfer funds?
Rumours that Huang is threatening to walk away from a deal. Apparently.
[/quote]
Is it not that he will then bide his time if he does not get it done in time to give Roy transfer funds?
Just heard a rumour that something is going to happen in the next 24 hours. The Times is going to break the story appaz.
[quote author=gene hughes link=topic=41235.msg1156893#msg1156893 date=1282167618]
Just heard a rumour that something is going to happen in the next 24 hours. The Times is going to break the story appaz.
[/quote]
Yeah, their weather forecast has said it's going to rain somewhere in Britain.
Just heard a rumour that something is going to happen in the next 24 hours. The Times is going to break the story appaz.
[/quote]
Yeah, their weather forecast has said it's going to rain somewhere in Britain.
http://www.guardian.co.uk/football/2010/aug/18/liverpool-takeover-kenny-huang
Kenny Huang, the Chinese businessman attempting to buy Liverpool, is believed to be growing frustrated at the lack of progress in his attempt to gain control of the club from Tom Hicks and George Gillett at Anfield.
Huang is one of several interested parties who submitted an offer for Liverpool ahead of last Friday's deadline, and the Anfield board are now verifying proof of funding and identifying their preferred bidder. The board will then determine who purchases the club from Hicks and Gillett on a majority vote.
The entrepreneur, however, is anxious to complete a deal in advance of the transfer window closing so he can provide Roy Hodgson, the manager, with significant funds for squad improvement.
Though Hodgson has made it clear he would not rush into any extravagant deals in the wake of a sudden transfer windfall, Huang is said to be frustrated that a decision has not been reached by Liverpool.
Kenny Huang, the Chinese businessman attempting to buy Liverpool, is believed to be growing frustrated at the lack of progress in his attempt to gain control of the club from Tom Hicks and George Gillett at Anfield.
Huang is one of several interested parties who submitted an offer for Liverpool ahead of last Friday's deadline, and the Anfield board are now verifying proof of funding and identifying their preferred bidder. The board will then determine who purchases the club from Hicks and Gillett on a majority vote.
The entrepreneur, however, is anxious to complete a deal in advance of the transfer window closing so he can provide Roy Hodgson, the manager, with significant funds for squad improvement.
Though Hodgson has made it clear he would not rush into any extravagant deals in the wake of a sudden transfer windfall, Huang is said to be frustrated that a decision has not been reached by Liverpool.
[quote author=Redshrek link=topic=41235.msg1156895#msg1156895 date=1282167967]
The entrepreneur, however, is anxious to complete a deal in advance of the transfer window closing so he can provide Roy Hodgson, the manager, with significant funds for squad improvement.
[/quote]
Is it just me or does anyone else feel that Huang's reasons for wanting a quick decision aren't because he wants to make funds available before the transfer window closes?
The entrepreneur, however, is anxious to complete a deal in advance of the transfer window closing so he can provide Roy Hodgson, the manager, with significant funds for squad improvement.
[/quote]
Is it just me or does anyone else feel that Huang's reasons for wanting a quick decision aren't because he wants to make funds available before the transfer window closes?
No, I don't believe that either. Anyway, Roy wouldn't have a scooby who to buy. He's being scouting in the bargain bin all month.
[quote author=Sheik Yerbouti link=topic=41235.msg1156897#msg1156897 date=1282168423]
[quote author=Redshrek link=topic=41235.msg1156895#msg1156895 date=1282167967]
The entrepreneur, however, is anxious to complete a deal in advance of the transfer window closing so he can provide Roy Hodgson, the manager, with significant funds for squad improvement.
[/quote]
Is it just me or does anyone else feel that Huang's reasons for wanting a quick decision aren't because he wants to make funds available before the transfer window closes?
[/quote]Just thinking the very same thing. Great minds etc. Methinks that caution is required and I expect the board to proceed accordingly.
[quote author=Redshrek link=topic=41235.msg1156895#msg1156895 date=1282167967]
The entrepreneur, however, is anxious to complete a deal in advance of the transfer window closing so he can provide Roy Hodgson, the manager, with significant funds for squad improvement.
[/quote]
Is it just me or does anyone else feel that Huang's reasons for wanting a quick decision aren't because he wants to make funds available before the transfer window closes?
[/quote]Just thinking the very same thing. Great minds etc. Methinks that caution is required and I expect the board to proceed accordingly.
Tony Evans, Football Editor, Helen Power, Business Correspondent
Exclusive
The Liverpool takeover saga was plunged into crisis last night when Kenny Huang delivered a take-it-or-leave it message to Martin Broughton.
Huang, the Hong Kong-based businessman, has grown frustrated by what he perceives as delaying tactics by the Liverpool chairman and will walk away unless the Chinese bid is accepted.
Despite Liverpool’s assertions that there are other bidders, Huang believes that his offer is the only viable one on the table. Senior members of the hierarchy at Liverpool have also expressed concern at the pace of the sales process.
After the Chinese interest was revealed in these pages two weeks ago, Broughton said that he expected the club to be sold by the end of last week. However, the deadline passed with Anfield sources claiming that there were still as many as five bids. Huang — who has China Investment Corporation, one of the world’s biggest sovereign wealth funds, among his backers — believes that this is a ploy to push up the price.
Liverpool have suggested that Huang has not offered proof of funds but The Times understands that the Chinese bid has supplied all the necessary documentation required by the memorandum of sale, a legal framework for potential buyers.
A source close to Royal Bank of Scotland (RBS) — which is owed £237 million by Tom Hicks and George Gillett Jr, Liverpool’s owners — said last night that Huang was “there or thereabouts†on providing proof of funding to Barclays Capital, the investment bank brokering the deal. The Chinese offer would make the club debt-free and also bring large-scale investment as part of a total outlay of about £800 million.
Huang is eager to complete the deal before the transfer window closes. The Chinese are concerned that without investment in the squad Liverpool could finish outside the top four this season and want to be in place to provide funds for Roy Hodgson, the manager, as quickly as possible.
Huang has a transfer war chest and has put aside cash to build a new stadium. The Chinese will not dip into these budgets to increase their offer and benefit Hicks and Gillett at the expense of investment in Anfield.
Huang’s stance will heap pressure on Broughton. The chairman of British Airways was brought into the club in April to oversee the sale. The 63-year-old arrived at Anfield with impeccable credentials in the City. However, Broughton has struggled to fulfil this role and is in danger of damaging his reputation.
RBS believes that Huang has the most credible bid and played down the notion of five potential buyers. Sources close to the bank said it was possible that GameDay, the Montreal-based group behind Yahya Kirdi, the Syrian businessman, may become a serious contender if it can show proof of funds.
Rhône Capital, the American private equity group, is still in discussions with Barclays Capital but has not been able to raise sufficient funds to bid.
It has also emerged that RBS could, if necessary, seize control of Liverpool without putting the club into administration, a move that would result in an automatic nine-point deduction by the Premier League.
The bank has been charging Hicks and Gillett £2.5 million a week in penalty fees and could threaten to pursue the Americans for the money if they fail to hand over the keys to Liverpool as part of a debt-for-equity swap.
Other options would include removing Hicks and Gillett from the club’s board.
Exclusive
The Liverpool takeover saga was plunged into crisis last night when Kenny Huang delivered a take-it-or-leave it message to Martin Broughton.
Huang, the Hong Kong-based businessman, has grown frustrated by what he perceives as delaying tactics by the Liverpool chairman and will walk away unless the Chinese bid is accepted.
Despite Liverpool’s assertions that there are other bidders, Huang believes that his offer is the only viable one on the table. Senior members of the hierarchy at Liverpool have also expressed concern at the pace of the sales process.
After the Chinese interest was revealed in these pages two weeks ago, Broughton said that he expected the club to be sold by the end of last week. However, the deadline passed with Anfield sources claiming that there were still as many as five bids. Huang — who has China Investment Corporation, one of the world’s biggest sovereign wealth funds, among his backers — believes that this is a ploy to push up the price.
Liverpool have suggested that Huang has not offered proof of funds but The Times understands that the Chinese bid has supplied all the necessary documentation required by the memorandum of sale, a legal framework for potential buyers.
A source close to Royal Bank of Scotland (RBS) — which is owed £237 million by Tom Hicks and George Gillett Jr, Liverpool’s owners — said last night that Huang was “there or thereabouts†on providing proof of funding to Barclays Capital, the investment bank brokering the deal. The Chinese offer would make the club debt-free and also bring large-scale investment as part of a total outlay of about £800 million.
Huang is eager to complete the deal before the transfer window closes. The Chinese are concerned that without investment in the squad Liverpool could finish outside the top four this season and want to be in place to provide funds for Roy Hodgson, the manager, as quickly as possible.
Huang has a transfer war chest and has put aside cash to build a new stadium. The Chinese will not dip into these budgets to increase their offer and benefit Hicks and Gillett at the expense of investment in Anfield.
Huang’s stance will heap pressure on Broughton. The chairman of British Airways was brought into the club in April to oversee the sale. The 63-year-old arrived at Anfield with impeccable credentials in the City. However, Broughton has struggled to fulfil this role and is in danger of damaging his reputation.
RBS believes that Huang has the most credible bid and played down the notion of five potential buyers. Sources close to the bank said it was possible that GameDay, the Montreal-based group behind Yahya Kirdi, the Syrian businessman, may become a serious contender if it can show proof of funds.
Rhône Capital, the American private equity group, is still in discussions with Barclays Capital but has not been able to raise sufficient funds to bid.
It has also emerged that RBS could, if necessary, seize control of Liverpool without putting the club into administration, a move that would result in an automatic nine-point deduction by the Premier League.
The bank has been charging Hicks and Gillett £2.5 million a week in penalty fees and could threaten to pursue the Americans for the money if they fail to hand over the keys to Liverpool as part of a debt-for-equity swap.
Other options would include removing Hicks and Gillett from the club’s board.
Does no else think this rushing by the Chinese slightly suspicious? Its not like its going to be the last transfer window to buy. There shouldn't be any excuse to ensure the buyers are the right people and if it means missing the end of this transfer window then so be it. We have already been burnt once by not researching our potential owners.
[quote author=Redshrek link=topic=41235.msg1156918#msg1156918 date=1282170578]
Does no else think this rushing by the Chinese slightly suspicious?
[/quote]
Still ignoring what I say after all these years.
*Shakes head in disappointment*
*Sighs*
Does no else think this rushing by the Chinese slightly suspicious?
[/quote]
Still ignoring what I say after all these years.
*Shakes head in disappointment*
*Sighs*
[quote author=Redshrek link=topic=41235.msg1156918#msg1156918 date=1282170578]
Does no else think this rushing by the Chinese slightly suspicious? Its not like its going to be the last transfer window to buy. There shouldn't be any excuse to ensure the buyers are the right people and if it means missing the end of this transfer window then so be it. We have already been burnt once by not researching our potential owners.
[/quote]
*Googles banks in Scotland*
Does no else think this rushing by the Chinese slightly suspicious? Its not like its going to be the last transfer window to buy. There shouldn't be any excuse to ensure the buyers are the right people and if it means missing the end of this transfer window then so be it. We have already been burnt once by not researching our potential owners.
[/quote]
*Googles banks in Scotland*
[quote author=Sheik Yerbouti link=topic=41235.msg1156897#msg1156897 date=1282168423]
[quote author=Redshrek link=topic=41235.msg1156895#msg1156895 date=1282167967]
The entrepreneur, however, is anxious to complete a deal in advance of the transfer window closing so he can provide Roy Hodgson, the manager, with significant funds for squad improvement.
[/quote]
Is it just me or does anyone else feel that Huang's reasons for wanting a quick decision aren't because he wants to make funds available before the transfer window closes?
[/quote]
Oh you cynic.
The details of the bid seem to change every time something is reported too.
[quote author=Redshrek link=topic=41235.msg1156895#msg1156895 date=1282167967]
The entrepreneur, however, is anxious to complete a deal in advance of the transfer window closing so he can provide Roy Hodgson, the manager, with significant funds for squad improvement.
[/quote]
Is it just me or does anyone else feel that Huang's reasons for wanting a quick decision aren't because he wants to make funds available before the transfer window closes?
[/quote]
Oh you cynic.
The details of the bid seem to change every time something is reported too.
[quote author=Redshrek link=topic=41235.msg1156918#msg1156918 date=1282170578]
Does no else think this rushing by the Chinese slightly suspicious? Its not like its going to be the last transfer window to buy. There shouldn't be any excuse to ensure the buyers are the right people and if it means missing the end of this transfer window then so be it. We have already been burnt once by not researching our potential owners.
[/quote]
DIC tried exactly the same thing didn't they ?
Does no else think this rushing by the Chinese slightly suspicious? Its not like its going to be the last transfer window to buy. There shouldn't be any excuse to ensure the buyers are the right people and if it means missing the end of this transfer window then so be it. We have already been burnt once by not researching our potential owners.
[/quote]
DIC tried exactly the same thing didn't they ?
Yep, we've got to make sure we get it right. Let's not buy into this sky ecitement over the August deadline, and doors 'slamming' shut, etc.
[quote author=Sheik Yerbouti link=topic=41235.msg1156919#msg1156919 date=1282170656]
[quote author=Redshrek link=topic=41235.msg1156918#msg1156918 date=1282170578]
Does no else think this rushing by the Chinese slightly suspicious?
[/quote]
Still ignoring what I say after all these years.
*Shakes head in disappointment*
*Sighs*
[/quote]
Ah didn't see that.
[quote author=Redshrek link=topic=41235.msg1156918#msg1156918 date=1282170578]
Does no else think this rushing by the Chinese slightly suspicious?
[/quote]
Still ignoring what I say after all these years.
*Shakes head in disappointment*
*Sighs*
[/quote]
Ah didn't see that.
Are they like sheep that go GRRRRRRRRRRRRRRRRRRRRR
The Arabs must be ready to pounce and are making the Chinese nervous.
Barratt seems very pro Huang.
CIC is also mentioned as back in the frame which seemed to evaporate shortly after the original suggestion.
If CIC is involved and they do agree to the stadium etc , why not ? What would make them any better or worse than any other option.
Tapping into the Chinese market would be like striking gold
regards
Barratt seems very pro Huang.
CIC is also mentioned as back in the frame which seemed to evaporate shortly after the original suggestion.
If CIC is involved and they do agree to the stadium etc , why not ? What would make them any better or worse than any other option.
Tapping into the Chinese market would be like striking gold
regards
- Status
