Re: LFC Sold to NESV (New England Sports Ventures)
Stuck in work, has the case started yet?
Stuck in work, has the case started yet?
LFC SOLD to NESV.
- Thread starter Terrier
- Start date
- Latest activity Latest activity:
Re: LFC Sold to NESV (New England Sports Ventures)
I believe the usual time for starting a case is 10.30, so yes, unless the lawyers are negotiating outside court, which can delay the start.
I believe the usual time for starting a case is 10.30, so yes, unless the lawyers are negotiating outside court, which can delay the start.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=FoxForceFive link=topic=41783.msg1193053#msg1193053 date=1286877128]
Stuck in work, has the case started yet?
[/quote]
Not quite yet mate - According to SSN it's due to begin at 11am. It should all be over 2 hours after that.
[quote author=FoxForceFive link=topic=41783.msg1193053#msg1193053 date=1286877128]
Stuck in work, has the case started yet?
[/quote]
Not quite yet mate - According to SSN it's due to begin at 11am. It should all be over 2 hours after that.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=TheBunnyman link=topic=41783.msg1193049#msg1193049 date=1286876615]
[quote author=Sunny link=topic=41783.msg1193034#msg1193034 date=1286875831]
If that's true JJ, that guy will never buy a drink again.
[/quote]
Until or unless these owners turn into nightmares like the last lot...
[/quote]
IF Bunny, IF. Judge them by their actions not by the actions of their predecessors. They deserve a chance - it would be unfair to do otherwise.
[quote author=TheBunnyman link=topic=41783.msg1193049#msg1193049 date=1286876615]
[quote author=Sunny link=topic=41783.msg1193034#msg1193034 date=1286875831]
If that's true JJ, that guy will never buy a drink again.
[/quote]
Until or unless these owners turn into nightmares like the last lot...
[/quote]
IF Bunny, IF. Judge them by their actions not by the actions of their predecessors. They deserve a chance - it would be unfair to do otherwise.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=spider-neil link=topic=41783.msg1193050#msg1193050 date=1286876680]
we are absolutely ideally placed when the new rules come into practice, the likes of chelsea and man city are fucked, but saying that chelsea's recent success has drastically improved their turnover.
[/quote]
We're ideally placed?
You mean on the verge of bankruptcy with no new stadium in sight?
[quote author=spider-neil link=topic=41783.msg1193050#msg1193050 date=1286876680]
we are absolutely ideally placed when the new rules come into practice, the likes of chelsea and man city are fucked, but saying that chelsea's recent success has drastically improved their turnover.
[/quote]
We're ideally placed?
You mean on the verge of bankruptcy with no new stadium in sight?
Re: LFC Sold to NESV (New England Sports Ventures)
The club itself isn't "on the verge of bankruptcy". If we were, nobody would have been interested in buying it.
The club itself isn't "on the verge of bankruptcy". If we were, nobody would have been interested in buying it.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Judge Jules link=topic=41783.msg1193065#msg1193065 date=1286877850]
The club itself isn't "on the verge of bankruptcy". If we were, nobody would have been interested in buying it.
[/quote]
Technically speaking, that's incorrect.
Do we have assets, yes.
Does it equal the debt owed?
..........Well that's why they're going to court.
[quote author=Judge Jules link=topic=41783.msg1193065#msg1193065 date=1286877850]
The club itself isn't "on the verge of bankruptcy". If we were, nobody would have been interested in buying it.
[/quote]
Technically speaking, that's incorrect.
Do we have assets, yes.
Does it equal the debt owed?
..........Well that's why they're going to court.
Re: LFC Sold to NESV (New England Sports Ventures)
LFC case 3rd up so probably late morning
30 minutes ago via web
LFC Chmn Martin Broughtom and MD Chris Purslow arrive at Court 16 - it begins
about 1 hour ago via web
Court clerk tells us LFC case likely to be heard early afternoon as it will take 2 hrs
about 1 hour ago via web
Talk here that LFC told Peter Lim his bid had failed by text - he was not happy
about 1 hour ago via web
Waiting outside Court 16 of High Court - long queue of press waiting to be allowed in - at 10.30 we'll me told when LFC case will be heard
about 1 hour ago via web
LFC case 3rd up so probably late morning
30 minutes ago via web
LFC Chmn Martin Broughtom and MD Chris Purslow arrive at Court 16 - it begins
about 1 hour ago via web
Court clerk tells us LFC case likely to be heard early afternoon as it will take 2 hrs
about 1 hour ago via web
Talk here that LFC told Peter Lim his bid had failed by text - he was not happy
about 1 hour ago via web
Waiting outside Court 16 of High Court - long queue of press waiting to be allowed in - at 10.30 we'll me told when LFC case will be heard
about 1 hour ago via web
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Terrier link=topic=41783.msg1193068#msg1193068 date=1286878072]
[quote author=Judge Jules link=topic=41783.msg1193065#msg1193065 date=1286877850]
The club itself isn't "on the verge of bankruptcy". If we were, nobody would have been interested in buying it.
[/quote]
Technically speaking, that's incorrect.
Do we have assets, yes.
Does it equal the debt owed?
..........Well that's why they're going to court.
[/quote]
Not so. It isn't LFC which owes the debt which brought about the court action.
[quote author=Terrier link=topic=41783.msg1193068#msg1193068 date=1286878072]
[quote author=Judge Jules link=topic=41783.msg1193065#msg1193065 date=1286877850]
The club itself isn't "on the verge of bankruptcy". If we were, nobody would have been interested in buying it.
[/quote]
Technically speaking, that's incorrect.
Do we have assets, yes.
Does it equal the debt owed?
..........Well that's why they're going to court.
[/quote]
Not so. It isn't LFC which owes the debt which brought about the court action.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=doctor_mac link=topic=41783.msg1193042#msg1193042 date=1286876210]
There's no doubt these guys are much more savvy businessmen than H&G, and we can expect to be run with a realistic plan to expand/rebuild and to have a better infrastructure (although it has to be said that our marketing infrastructure has definitely improved under the current regime). However, somewhere along the line they'll want a return on the investment. These aren't fans, their job always will be to milk the club of cash for investors. Can that ever work successfully as a model for the running of a flagship football club?
[/quote]
Not generally I wouldn't have thought. If the club is very successful then maybe but if you are up against other clubs who do need have any need to make profits then being successful is difficult isn't it?
If investors are prepared for the fact that they will be running at a big loss for a few years at least then yes, a football club could be a decent investment. For one, the club might then actually start being profitable itself, but also the individual or group might be able to benefit through their other business interests on the fact that they are owners of a high profile club.
Depends on the approach and expectation. Its difficult to say now what the expectations of Hicks and Gillett were
[quote author=doctor_mac link=topic=41783.msg1193042#msg1193042 date=1286876210]
There's no doubt these guys are much more savvy businessmen than H&G, and we can expect to be run with a realistic plan to expand/rebuild and to have a better infrastructure (although it has to be said that our marketing infrastructure has definitely improved under the current regime). However, somewhere along the line they'll want a return on the investment. These aren't fans, their job always will be to milk the club of cash for investors. Can that ever work successfully as a model for the running of a flagship football club?
[/quote]
Not generally I wouldn't have thought. If the club is very successful then maybe but if you are up against other clubs who do need have any need to make profits then being successful is difficult isn't it?
If investors are prepared for the fact that they will be running at a big loss for a few years at least then yes, a football club could be a decent investment. For one, the club might then actually start being profitable itself, but also the individual or group might be able to benefit through their other business interests on the fact that they are owners of a high profile club.
Depends on the approach and expectation. Its difficult to say now what the expectations of Hicks and Gillett were
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Terrier link=topic=41783.msg1193064#msg1193064 date=1286877755]
[quote author=spider-neil link=topic=41783.msg1193050#msg1193050 date=1286876680]
we are absolutely ideally placed when the new rules come into practice, the likes of chelsea and man city are fucked, but saying that chelsea's recent success has drastically improved their turnover.
[/quote]
We're ideally placed?
You mean on the verge of bankruptcy with no new stadium in sight?
[/quote]
in that we have a high turnover.
[quote author=Terrier link=topic=41783.msg1193064#msg1193064 date=1286877755]
[quote author=spider-neil link=topic=41783.msg1193050#msg1193050 date=1286876680]
we are absolutely ideally placed when the new rules come into practice, the likes of chelsea and man city are fucked, but saying that chelsea's recent success has drastically improved their turnover.
[/quote]
We're ideally placed?
You mean on the verge of bankruptcy with no new stadium in sight?
[/quote]
in that we have a high turnover.
Re: LFC Sold to NESV (New England Sports Ventures)
11.25am: BREAKING, from our reporter Sachin Nakrani: "Case started. RBS accuse Hicks and Gillett of trying to 'profit from the confusion their actions have caused'."
11.25am: BREAKING, from our reporter Sachin Nakrani: "Case started. RBS accuse Hicks and Gillett of trying to 'profit from the confusion their actions have caused'."
Re: LFC Sold to NESV (New England Sports Ventures)
must...resist...urge...to...bring...up...hodgson's...wastefulness...
must...resist...urge...to...bring...up...hodgson's...wastefulness...
Re: LFC Sold to NESV (New England Sports Ventures)
"RBS appeal to judge to 'restore a clearly constituted and functioning board' today. 'It cannot wait and it would be wrong for Mr Hicks and Gillett to profit from their tactics.'," reports Sachin Nakrani.
"RBS appeal to judge to 'restore a clearly constituted and functioning board' today. 'It cannot wait and it would be wrong for Mr Hicks and Gillett to profit from their tactics.'," reports Sachin Nakrani.
Re: LFC Sold to NESV (New England Sports Ventures)
11.38am: Hicks and Gillett representative admits to breach of contract but feels there is no urge for board to be reconstituted before Friday.
RBS dismisses this as 'absurd' given the company needs to repay £200m to the bank by Friday.
11.38am: Hicks and Gillett representative admits to breach of contract but feels there is no urge for board to be reconstituted before Friday.
RBS dismisses this as 'absurd' given the company needs to repay £200m to the bank by Friday.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=spider-neil link=topic=41783.msg1193080#msg1193080 date=1286879538]
[quote author=Terrier link=topic=41783.msg1193064#msg1193064 date=1286877755]
[quote author=spider-neil link=topic=41783.msg1193050#msg1193050 date=1286876680]
we are absolutely ideally placed when the new rules come into practice, the likes of chelsea and man city are fucked, but saying that chelsea's recent success has drastically improved their turnover.
[/quote]
We're ideally placed?
You mean on the verge of bankruptcy with no new stadium in sight?
[/quote]
in that we have a high turnover.
[/quote]
exactly. while we're not ideally placed - that'd be arsenal - our reported revenue for 2010 of £200m is extremely encouraging: it's about £65m below man utd's record t/o but that's entirely accounted for by their mathcday income being £65m than ours.
long-term, and with stadium development, we should be able to compete financially with anyone.
[quote author=spider-neil link=topic=41783.msg1193080#msg1193080 date=1286879538]
[quote author=Terrier link=topic=41783.msg1193064#msg1193064 date=1286877755]
[quote author=spider-neil link=topic=41783.msg1193050#msg1193050 date=1286876680]
we are absolutely ideally placed when the new rules come into practice, the likes of chelsea and man city are fucked, but saying that chelsea's recent success has drastically improved their turnover.
[/quote]
We're ideally placed?
You mean on the verge of bankruptcy with no new stadium in sight?
[/quote]
in that we have a high turnover.
[/quote]
exactly. while we're not ideally placed - that'd be arsenal - our reported revenue for 2010 of £200m is extremely encouraging: it's about £65m below man utd's record t/o but that's entirely accounted for by their mathcday income being £65m than ours.
long-term, and with stadium development, we should be able to compete financially with anyone.
Re: LFC Sold to NESV (New England Sports Ventures)
If these reports from the court are accurate, it sounds as though H and G are struggling.
If these reports from the court are accurate, it sounds as though H and G are struggling.
Re: LFC Sold to NESV (New England Sports Ventures)
the updates from gene are more exciting that the updates from the match threads this season...
the updates from gene are more exciting that the updates from the match threads this season...
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Sunny link=topic=41783.msg1193093#msg1193093 date=1286880142]
RobHarrisUK Rob Harris
Rbs: hicks offers no defence to breach of contract claim
[/quote]
why'd they even bother to turn up to court then?
[quote author=Sunny link=topic=41783.msg1193093#msg1193093 date=1286880142]
RobHarrisUK Rob Harris
Rbs: hicks offers no defence to breach of contract claim
[/quote]
why'd they even bother to turn up to court then?
Re: LFC Sold to NESV (New England Sports Ventures)
Could H and G be in cahoots with Lim and therefore just trying to buy time?
Could H and G be in cahoots with Lim and therefore just trying to buy time?
Re: LFC Sold to NESV (New England Sports Ventures)
danroan
H&G QC says case should be heard next week - "no rush". Snowdon QC says that is "frankly. absurd"
danroan
H&G QC says case should be heard next week - "no rush". Snowdon QC says that is "frankly. absurd"
Re: LFC Sold to NESV (New England Sports Ventures)
11.38am: Hicks and Gillett representative admits to breach of contract but feels there is no urge for board to be reconstituted before Friday.
RBS dismisses this as 'absurd' given the company needs to repay £200m to the bank by Friday.
11.38am: Hicks and Gillett representative admits to breach of contract but feels there is no urge for board to be reconstituted before Friday.
RBS dismisses this as 'absurd' given the company needs to repay £200m to the bank by Friday.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Judge Jules link=topic=41783.msg1193101#msg1193101 date=1286880433]
Could H and G be in cahoots with Lim and therefore just trying to buy time?
[/quote]
to what end?
would rbs make more money from the lim deal?
basically if G&H can't change the board then the deal with NESV goes through as planned, if the yanks stall then the club goes into adminstration. maybe hicks is hoping NESV walk away, lim snaps up the club and the yanks lose less money.
[quote author=Judge Jules link=topic=41783.msg1193101#msg1193101 date=1286880433]
Could H and G be in cahoots with Lim and therefore just trying to buy time?
[/quote]
to what end?
would rbs make more money from the lim deal?
basically if G&H can't change the board then the deal with NESV goes through as planned, if the yanks stall then the club goes into adminstration. maybe hicks is hoping NESV walk away, lim snaps up the club and the yanks lose less money.
Re: LFC Sold to NESV (New England Sports Ventures)
[quote author=Avmenon link=topic=41783.msg1193105#msg1193105 date=1286880697]
There's not a chance in hell that Hicks will be able to show that The Lim offer is preferable to the NESV one.
WHy is Gillette even here?
Hasnt Mill Financial taken over or something?
[/quote]
Maybe someone thought he might have useful evidence to give in person? I can't see any other possibility.
[quote author=Avmenon link=topic=41783.msg1193105#msg1193105 date=1286880697]
There's not a chance in hell that Hicks will be able to show that The Lim offer is preferable to the NESV one.
WHy is Gillette even here?
Hasnt Mill Financial taken over or something?
[/quote]
Maybe someone thought he might have useful evidence to give in person? I can't see any other possibility.
Similar threads
- Locked
- Locked
- Locked
- Locked