New bidder emerges

[Portly]

Story in today's "Liverpool Echo" (25th August)

http://www.liverpoolecho.co.uk/liverpool-news/local-news/2010/08/25/new-overseas-buyer-in-the-frame-for-liverpool-fc-100252-27127848/

Mystery bidder is being lined up to buy Liverpool FC

Renowned deal-broker Keith Harris claims an overseas buyer is considering making an offer of between £400million and £500million for Liverpool.

The former Football League chairman, who has had a hand in the sales of Aston Villa, West Ham and Manchester City in the past, said due diligence has already been done.

Harris also said the party he was representing was not one mentioned publicly before.

"The overseas buyer we represent has completed due diligence. A huge amount of work has been done," he said.

"It is none of the groups mentioned in the press. The ball is now in our client’s court to make an offer.

"I do not think the deal will be done before the transfer window closes this month but the next pressure point is October when some of the RBS loan of £237million has to be repaid.

"It may happen then. But in the present climate these things are impossible to predict."

 

[Y1]

Great! At last someone dares to post a new thread on the possibility of another buyer while it was posted under the Chinese thread. That thread should have been sent to the gallows.

 

[manwithnoname]

[quote author=Portly link=topic=41590.msg1161510#msg1161510 date=1282723024]

"It may happen then. But in the present climate these things are impossible to predict."

[/quote]

No they aren't: it won't happen.

 

[Portly]

[quote author=Y1 link=topic=41590.msg1161516#msg1161516 date=1282723519]
Great! At last someone dares to post a new thread on the possibility of another buyer while it was posted under the Chinese thread. That thread should have been sent to the gallows.
[/quote]

Hope I did the right thing starting a new thread. It is after all a "potential" new bidder. I didn't realise anything had been posted on the "Chinese" thread.

 

[spider-Neil]

[quote author=Portly link=topic=41590.msg1161530#msg1161530 date=1282723813]
[quote author=Y1 link=topic=41590.msg1161516#msg1161516 date=1282723519]
Great! At last someone dares to post a new thread on the possibility of another buyer while it was posted under the Chinese thread. That thread should have been sent to the gallows.
[/quote]

Hope I did the right thing starting a new thread. It is after all a "potential" new bidder. I didn't realise anything had been posted on the "Chinese" thread.
[/quote]

you've done the right thing, it's not a chinese bid, so this new bidder information shouldn't be in there.

 

[doctor_mac]

[quote author=Portly link=topic=41590.msg1161530#msg1161530 date=1282723813]
[quote author=Y1 link=topic=41590.msg1161516#msg1161516 date=1282723519]
Great! At last someone dares to post a new thread on the possibility of another buyer while it was posted under the Chinese thread. That thread should have been sent to the gallows.
[/quote]

Hope I did the right thing starting a new thread. It is after all a "potential" new bidder. I didn't realise anything had been posted on the "Chinese" thread.
[/quote]

You need to do more research before you just wire in and create a new thread, Portly.

 

[Y1]

[quote author=Portly link=topic=41590.msg1161530#msg1161530 date=1282723813]
[quote author=Y1 link=topic=41590.msg1161516#msg1161516 date=1282723519]
Great! At last someone dares to post a new thread on the possibility of another buyer while it was posted under the Chinese thread. That thread should have been sent to the gallows.
[/quote]

Hope I did the right thing starting a new thread. It is after all a "potential" new bidder. I didn't realise anything had been posted on the "Chinese" thread.
[/quote]

The 'news' (more like publicity for Keith Harris) broke yesterday and it was posted there. Not many responded as many are already sick to the teeth about the Chinese abortion and so did not read it there!

 

[Jack D Rips]

Consider yourself told off Portly. However if I had my way I would dump that Chinese thread out the window and gleefully start spending Harris' or the Qatari Royal Family's money here.

 

[6TimesaRed]

The Mystery Bidder with Keith Harris

 

[aquaman4]

h&G:MR. HARRIS tell them a secret bidder has joined the list of potential buyers and take your pick bmw or benz .

 

[spider-Neil]

[quote author=jono@home link=topic=41590.msg1161603#msg1161603 date=1282726986]
The Mystery Bidder with Keith Harris

[/quote]

when he takes over, the sky's the limit.

 

[Insignificance]

[quote author=spider-neil link=topic=41590.msg1161629#msg1161629 date=1282728625]
[quote author=jono@home link=topic=41590.msg1161603#msg1161603 date=1282726986]
The Mystery Bidder with Keith Harris

[/quote]

when he takes over, the sky's the limit.
[/quote]

Still miles better than Hicks and Gillette.

 

[Woland]

You know that being-bought-out fatigue is rife when this story has been out for 24 hours and you haven't had a single text message about it.

 

[spider-Neil]

[quote author=crump link=topic=41590.msg1161638#msg1161638 date=1282729072]
You know that being-bought-out fatigue is rife when this story has been out for 24 hours and you haven't had a single text message about it.
[/quote]

the liverpool fans have seen too many false dawns and are way too jaded

 

[Portly]

I think the only aspect that makes this "potential" bid worth attention, is that Harris claims that the "due diligence" work has already been done. "Due Diligence" involves quite a lot of work and heavy accountancy and legal fees, so it seems to me that this potential bidder must be a significant player.

 

[Insignificance]

[quote author=Portly link=topic=41590.msg1161648#msg1161648 date=1282729634]
I think the only aspect that makes this "potential" bid worth attention, is that Harris claims that the "due diligence" work has already been done. "Due Diligence" involves quite a lot of work and heavy accountancy and legal fees, so it seems to me that this potential bidder must be a significant player.
[/quote]

But Harris also went public as well as slammed others who has gone public.

Combine this with American owners (Hicks and Gillette is probably involved at some stage here anyway).

I dont like this at all.

 

[Y1]

[quote author=Portly link=topic=41590.msg1161648#msg1161648 date=1282729634]
I think the only aspect that makes this "potential" bid worth attention, is that Harris claims that the "due diligence" work has already been done. "Due Diligence" involves quite a lot of work and heavy accountancy and legal fees, so it seems to me that this potential bidder must be a significant player.
[/quote]

But can anyone confirm that d d has been actually performed? Keith H might also be spinning to gain publicity? Like the other KH?

 

[spider-Neil]

what's weird is says people that are serious bidders remain silent until the deal is done and here he is opening his mouth.

 

[Sunny]

[quote author=spider-neil link=topic=41590.msg1161640#msg1161640 date=1282729190]
[quote author=crump link=topic=41590.msg1161638#msg1161638 date=1282729072]
You know that being-bought-out fatigue is rife when this story has been out for 24 hours and you haven't had a single text message about it.
[/quote]

the liverpool fans have seen too many false dawns and are way too jaded
[/quote]

Indeed. We've become altogether cynical and non-believing of anything - such is the amount of lies and spin we've been served up over the last few years. I hate so much about our club at the moment. We're a fucking joke. You can only hope Broughton is doing a number in the background...

 

[the count]

Hicks in hunt for finance

Interesting that Liverpool's co-owner Tom Hicks is on the look out for some fresh financing – $230m according to a Securities and Exchange Commission filing in the US. Digger wonders what Hicks Acquisition Co II could need that sort of money for. Hicks Acquisition Co I was set up in 2007 and was at the time the biggest ever market launch of a "special purpose acquisition company" — ie one set up specifically to complete a purchase. A press releaseat the time said: "Hicks Acquisition was formed for the purpose of acquiring, or acquiring control of, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, one or more businesses or assets." Might it be that, with administration potentially looming for Liverpool, Hicks is looking for co-investors to buy the club anew?


http://www.guardian.co.uk/sport/2010/aug/24/manchester-city-uefa-spending-rules

 

[Whitey85]

Fucking hell

 

[Hansern]

[quote author=spider-neil link=topic=41590.msg1161668#msg1161668 date=1282730397]
what's weird is says people that are serious bidders remain silent until the deal is done and here he is opening his mouth.
[/quote]

Without saying who his client is though. Big difference. But, it smells of BS.

 

[spider-Neil]

[quote author=Hansern link=topic=41590.msg1161844#msg1161844 date=1282736659]
[quote author=spider-neil link=topic=41590.msg1161668#msg1161668 date=1282730397]
what's weird is says people that are serious bidders remain silent until the deal is done and here he is opening his mouth.
[/quote]

Without saying who his client is though. Big difference. But, it smells of BS.
[/quote]

some hope is better than no hope, oct is just round the corner (though I suspect rbs would rather refinance than call in the loan, talk about being between a rock and hard place).

 

[the count]

Michael Klein re-emerges as key figure behind scenes at Liverpool

• Klein group set to earn up to £260,000 in fees




Michael Klein seems to have re-emerged as a key figure behind the scenes at Liverpool. The former Citibank grandee was instrumental in BarCap's acquisition of Lehman Bros two years ago and was the man who recommended the appointment of Martin Broughton as the Anfield chairman in April.

Klein and Broughton were, until 2008, co-chairmen of the Transatlantic Business Dialogue lobby and it was Broughton who confirmed that Liverpool's co-owners, Tom Hicks and George Gillett, "knew [Klein] from old".

Now Digger can reveal that a certain Klein Group – whose backer is unknown, but is more likely to be Michael Klein than the WalMart builder or the Dallas kids' clothing retailer by the same name – will earn up to $400,000 (£260,000) in fees from the setting up of the Hicks Acquisition Co II this column exposed yesterday.

That was set up at the time when BarCap drew up a refinancing proposal for Hicks and Gillett, and fans are worried the proximity of Klein both to Hicks and to BarCap will lead to Barclays assisting the Americans in retaining control of the club beyond Royal Bank of Scotland's 6 October refinancing deadline. The Kop Faithful pressure group yesterday sent an open letter to 40 BarCap staff demanding that they do not proceed with the refinancing plans. But it may never get that far in any case.

Although Broughton knows Klein well, he did oppose the refinancing scheme when it was presented to the board. And RBS, which as primary lender stands to lose most if BarCap were to deliver Liverpool to Hicks with reduced debt, told Digger: "We have full confidence in Barclays and the chairman to complete a sale."

http://www.guardian.co.uk/sport/2010/aug/25/liverpool-michael-klein-hicks-gillett


Can anyone make sense of what is happening at the moment

 

[Hansern]

Hicks is desperatly trying to refinance so that he can load us with even more debt. So far the board have rejected every effort, and will continue to do so, hopefully.

 

[Halmeister]

I'm going to stick my head on the chopping block, like I did a few months ago, and say once again that we won't be taken over before Christmas.

 

[spider-Neil]

[quote author=Hansern link=topic=41590.msg1161857#msg1161857 date=1282737275]
Hicks is desperatly trying to refinance so that he can load us with even more debt. So far the board have rejected every effort, and will continue to do so, hopefully.
[/quote]

are you speculating, hansern?

 

[Terrier]

Peter and the Wolf

yawn

 

[Hansern]

[quote author=spider-neil link=topic=41590.msg1161860#msg1161860 date=1282737353]
[quote author=Hansern link=topic=41590.msg1161857#msg1161857 date=1282737275]
Hicks is desperatly trying to refinance so that he can load us with even more debt. So far the board have rejected every effort, and will continue to do so, hopefully.
[/quote]

are you speculating, hansern?
[/quote]

Specualting? It's pretty clear that Hicks is trying to refinance. It's been stated in several articles, also the Echo I think, that the board won't allow this. So no, I'm not.

Hicks is one slimey bastard though, I wouldn't put it past him to acutally manage this one way or the other. If so, we are fucked.

The "good" news however is that when Barcap was appointed they said that this scenario wouldn't happen and that new owners were the way forward.

 

[zlatan18]

[quote author=Halmeister link=topic=41590.msg1161858#msg1161858 date=1282737310]
I'm going to stick my head on the chopping block, like I did a few months ago, and say once again that we won't be taken over before Christmas.
[/quote]

i agree with you, i dont think we are going to be taken over. The yanks are totally screwing us