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I'm not very clued up on all this. Why do H&G want to cling onto something they can no longer afford or turn into anything profitable?
New bidder emerges
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They're hoping against hope that they can hang on until new TV deals make it possible for them to cash in big-time. I'm hopeful they're wrong, as it's hard to see who would want to pour yet more money down their throats.
There is the other reason... He knows he's fucked come October so if we haven't got a buyer then he'll be getting the club taken off him anyways.
Put it this way, I'd be refinancing to protect what I had regardless of any mad new TV structures if I was him, coz he could end up with fuck all.
Put it this way, I'd be refinancing to protect what I had regardless of any mad new TV structures if I was him, coz he could end up with fuck all.
well, one way or the other we wont have long to wait, the loan is up for review in october...
[quote author=spider-neil link=topic=41590.msg1162009#msg1162009 date=1282746856]
well, one way or the other we wont have long to wait, the loan is up for review in october...
[/quote]
And if we have no new buyers by then, can they decide to recall the loan during the review, sending the club into administration?
well, one way or the other we wont have long to wait, the loan is up for review in october...
[/quote]
And if we have no new buyers by then, can they decide to recall the loan during the review, sending the club into administration?
[quote author=Judge Jules link=topic=41590.msg1162000#msg1162000 date=1282746675]
They're hoping against hope that they can hang on until new TV deals make it possible for them to cash in big-time. I'm hopeful they're wrong, as it's hard to see who would want to pour yet more money down their throats.
[/quote]
If you owned a house that was worth lots of money.. and potentially even more money... and you were over-stretched withe the morgage repayments and facing the possibility of loosing said house... would you not try and sell some of the houses fixtures and fittings and try and seek some sort of re-finanicng deal so as you didn't end up with nothing?
If we're not sold... the loans will be re-financed... RBS will not take ownership of the club andf we'll not go in to adminstration either.
They're hoping against hope that they can hang on until new TV deals make it possible for them to cash in big-time. I'm hopeful they're wrong, as it's hard to see who would want to pour yet more money down their throats.
[/quote]
If you owned a house that was worth lots of money.. and potentially even more money... and you were over-stretched withe the morgage repayments and facing the possibility of loosing said house... would you not try and sell some of the houses fixtures and fittings and try and seek some sort of re-finanicng deal so as you didn't end up with nothing?
If we're not sold... the loans will be re-financed... RBS will not take ownership of the club andf we'll not go in to adminstration either.
As I understand it RBS can decide to recall the loan in October, but it's NOT automatic that the club would then be put into administration. RBS don't have to do that and in fact have very good reason not to, as it would immediately wipe plenty off the club's value.
Yes, I'm quite sure H and G would like to refinance. What I'm saying - and hoping - is that they'll find it extremely difficult to do so.
Yes, I'm quite sure H and G would like to refinance. What I'm saying - and hoping - is that they'll find it extremely difficult to do so.
I just don't see the bank taking it off them. They must know something we don't, or else why would they be fighting tooth and nail to reject any possible buyers, etc? They must be planning on sticking around for the tv money, long past october.
They will have a team of financial experts who have worked out the loan will end up 500 million in debt, but by then you can sell for 800 million. Something like that I'm just speculating.
They will have a team of financial experts who have worked out the loan will end up 500 million in debt, but by then you can sell for 800 million. Something like that I'm just speculating.
[quote author=Judge Jules link=topic=41590.msg1162021#msg1162021 date=1282747255]
As I understand it RBS can decide to recall the loan in October, but it's NOT automatic that the club would then be put into administration. RBS don't have to do that and in fact have very good reason not to, as it would immediately wipe plenty off the club's value.
Yes, I'm quite sure H and G would like to refinance. What I'm saying - and hoping - is that they'll find it extremely difficult to do so.
[/quote]
It was suggested BARCAP offered to take on the loans a while back.
They CAN use player sales to aid paying down the loans to a level that someone else might find suitable to re-finance.
If you believe that G&H are not the only ones who think that the clubs if valued at more that the current level of debt, then, while it's risky, it means someone mibght see taking on the loans as an opportunity to make some money.
As I understand it RBS can decide to recall the loan in October, but it's NOT automatic that the club would then be put into administration. RBS don't have to do that and in fact have very good reason not to, as it would immediately wipe plenty off the club's value.
Yes, I'm quite sure H and G would like to refinance. What I'm saying - and hoping - is that they'll find it extremely difficult to do so.
[/quote]
It was suggested BARCAP offered to take on the loans a while back.
They CAN use player sales to aid paying down the loans to a level that someone else might find suitable to re-finance.
If you believe that G&H are not the only ones who think that the clubs if valued at more that the current level of debt, then, while it's risky, it means someone mibght see taking on the loans as an opportunity to make some money.
[quote author=Hansern link=topic=41590.msg1161876#msg1161876 date=1282738169]
[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.
[/quote]
Didn't someone suggets the Board where 3-2 in favour of re-financing (ie G&H plus A N Other).
[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.
[/quote]
Didn't someone suggets the Board where 3-2 in favour of re-financing (ie G&H plus A N Other).
Hicks just went banckrupt with his Baseball team were he got nothing left on his investment. It is crystal clear that he will be more than happy to hang on to this one and maybe save a few dollars rather than letting it go for nothing. If he can he will turn all possible depth onto the club, as the risk will be on hte club (which actually ows him money!!!!) and not on him.
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