Two cunts announce losses of £42.6m

[SaintGeorge67]

Are the kuwaiti blokes still about?

 

[FoxForceFive]

[quote author=Ossi link=topic=33990.msg882841#msg882841 date=1244203829]
From the times:

Pre-construction work on the new site at Stanley Park was halted indefinitely last September, with the owners citing the unfavourable conditions in the global financial market.

In the accounts, however, they say that opening is “delayed until 2012†and that a revised planning application, with a view to raising the capacity from 60,000 to 73,000, will be submitted imminently

So we started digging and then stopped?
[/quote]

Yep, there's still an area dug out a bit in the park & fenced off. It was a blatant (& ultimately failed) attempt to secure a few million in an EU grant.

 

[Roger REDerer]

[quote author=SaintGeorge67 link=topic=33990.msg883030#msg883030 date=1244219636]
Are the kuwaiti blokes still about?
[/quote]

Yes. Very much still around.

If everything goes according to plan, al-Kharafi will be our new owner very soon.

 

[David Byrne]

[quote author=Roger REDerer link=topic=33990.msg883095#msg883095 date=1244225716]
[quote author=SaintGeorge67 link=topic=33990.msg883030#msg883030 date=1244219636]
Are the kuwaiti blokes still about?
[/quote]

Yes. Very much still around.

If everything goes according to plan, al-Kharafi will be our new owner very soon.
[/quote]

Amazing how many fans we have with sources inside every random middle eastern investment vehicle, who just happen to pass on highly confidential information about multi million quid takeovers.

The Kuwaiti's sound like another bunch of chancers who baulked at the price and have long gone.

 

[Boozer]

[quote author=Roger REDerer link=topic=33990.msg883095#msg883095 date=1244225716]
[quote author=SaintGeorge67 link=topic=33990.msg883030#msg883030 date=1244219636]
Are the kuwaiti blokes still about?
[/quote]

Yes. Very much still around.

If everything goes according to plan, al-Kharafi will be our new owner very soon.
[/quote]

Imminently, in the next couple of years, very soon?

 

[Rafiagra]

From The Times

LIVERPOOL have reacted bullishly to claims that they are on the point of financial meltdown by insisting they expect to be able to outspend both Manchester United and Arsenal in the transfer market this summer.

A senior Liverpool source told The Sunday Times last night: “We have more spare cash to spend than any club except Chelsea.â€

The source, who has detailed knowledge of the 2007 takeover at Anfield by the American businessmen Tom Hicks and George Gillett and insight into how they have run the club since, also says:

¤ the transfer budget will be a minimum of £20m plus sales this summer and that manager Rafael Benitez “is free to exceed it†if he can “make a convincing caseâ€

¤ Liverpool are not subject to some of the financial constraints on transfer dealings that limit Manchester United and Arsenal, who are more indebted to outsiders including banks and institutions

¤ Benitez is “an amazing guy who knows he has a healthy transfer budget to augment one of the world’s strongest squadsâ€.

The source also suggested Hicks and Gillett had two regrets over their takeover. First, they reneged on an initial promise not to put some of their buyout debt directly onto Liverpool; and second, they are unable to start work on the new Stanley Park stadium “because the world’s fallen apart financiallyâ€.

They both want to remain at Liverpool, ideally in partnership with a new investor — yet to be found — with deep pockets to help fund the stadium. However, more than £58m channelled into Kop Football Ltd (Liverpool’s UK holding company) from an arm of the Hicks-Gillett operations based in the Cayman Islands is “evidence in cash†of the owners’ commitment. That money is part of £421.6m owed by KFL to all creditors combined at the end of July 2008.

Premier League debt is back in the spotlight after Deloitte’s annual review of football finance showed top-flight clubs owe in total £3.1bn, two-thirds by the “Big Fourâ€. Chelsea owe Roman Abramovich £701m. Manchester United owe banks and hedge funds £649m and other creditors about £50m more. Arsenal owe £416m, spent largely on the Emirates Stadium and on property development at Highbury.

Kop Football Ltd posted losses of £42.6m for the year to July 2008, mainly down to interest payments of £36.5m on loans taken out by Hicks and Gillett to buy Liverpool.

http://www.timesonline.co.uk/tol/sport/football/premier_league/liverpool/article6446668.ece

£20m plus sales is crap - United, Chelsea will spend more than that on one player (and ideally we'd be after the type of calibre where we would need to)

I'm not surprised those 2 dickheads want to remain involved - we're one of the top sporting brands in the world. However, they need to fuck off. They are just parasites - look how they just want another investor to join 'with deep pockets'. Haha - "yes Sheikh Snoogie Doogie, for a minority share which gives you no power, we want you to take over all liability responsibility for the club. Our role?? We will just take any profits."

Hopefully the fact that all the new contracts were signed by Rafa and the players is a sign there is something yet to develop.

 

[Vlads Quiff]

Benítez will be active in the transfer market despite Liverpool’s accounts revealing that the club’s profits failed to cover interest payments on debt last year. Tom Hicks and George Gillett Jr, the club’s American owners, are almost certain to get an extension on their £350 million loan deal with Royal Bank of Scotland (RBS) and Wachovia, due for repayment on July 24. RBS, which owns 75 per cent of the debt, is unconcerned by the reported loss of £43 million since most of it was due to “non-cash†write-downs in the value of players.

It is understood that the bank’s only reservation about the performance of the owners is their inability to finance a new stadium. The banks are encouraging Hicks and Gillett to look for new investment to push through the new ground.

RBS was reassured when Benítez and Fernando Torres signed extensions to their contracts in the closing weeks of the season. The Spanish pair’s commitment to the club was a significant factor in giving the Americans financial breathing space.

 

[Rosco]

Which basically means the banks won't stump up all of the cash needed for the stadium.

 

[Vlads Quiff]

[quote author=Rosco link=topic=33990.msg883892#msg883892 date=1244413974]
Which basically means the banks won't stump up all of the cash needed for the stadium.
[/quote]

but what it does mean is they will exert pressure/conditions on them to sort the new ground out.
This needs to happen sooner rather than later all the do-gooders are bleating "shared stadium" again
regards

 

[Rosco]

[quote author=Vlads Quiff link=topic=33990.msg883895#msg883895 date=1244414149]
[quote author=Rosco link=topic=33990.msg883892#msg883892 date=1244413974]
Which basically means the banks won't stump up all of the cash needed for the stadium.
[/quote]

but what it does mean is they will exert pressure/conditions on them to sort the new ground out.
This needs to happen sooner rather than later all the do-gooders are bleating "shared stadium" again
regards

[/quote]

True, I wasn't looking at it from that point of view. More from the seeking finance aspect.

 

[Vlads Quiff]

I don't buy this idea that the Yanks will force Rafa to cut the spending budget because of the suggested finance issues. If they did they would be a bit thick, which they ain't.
They have an investment to protect. They saw us do surprisingly well in the league and like everyone else, will want to kick on, perhaps for differing reasons.
The continuing improvement and success of the club is imperative to them to keep the value up.
On the great scheme of things the odd £40m to try and do that is a sensible option, even if they have to dig into their own dosh to do so. They really do have to speculate to accumulate.
Also any potential outside investment and sponsors for the new ground will have to see us competing at the top.
Plus as others have agreed, Rafa would have been offski without any cast-iron guarantees on funding.
The press, for some obscure reason, are reveling in trying to make us look like we are up shit creek, it is not as bad as is being painted and RBS are going to refinance.
It seems like the world crisis is showing some positive signs, which will give some confidence.
If there is a problem in the market this year is that all the clubs with money are looking to spend.
regards

 

[Ryan]

Tom Hicks and George Gillett set to refinance Liverpool loan

• £350m loan to be refinanced after 24 July deadline
• Hicks reported to be 'very relaxed' and 'confident'

Elena Moya and Andy Hunter guardian.co.uk, Tuesday 9 June 2009 20.39

Liverpool's beleaguered co-owners, Tom Hicks and George Gillett, look set to ­refinance their £350m loan with the Royal Bank of Scotland and Wachovia from next month's deadline, the ­Guardian has learned. The extension could cost up to £3.5m for the arrangement fee, with ­interest payments – approximately 4% above the banking rate – similar to the terms on their current facility.

It was announced last week that Hicks' and Gillett's parent company, Kop ­Football (Holdings) Limited, suffered a £42.6m loss for the year ending July 2008 despite a record turnover of £164.2m. A Liverpool supporters group, Spirit of Shankly, has launched a protest campaign to dissuade RBS from extending the loan beyond the 24 July deadline.

However, the two banks are willing to extend their loan, given rising income at a club who finished second in the Premier League last season, qualifying for the lucrative Champions League for a ­seventh season in a row. "Banks won't want to jeopardise growth through ­taking control," a source close to the situation said.

Facing multi-billion pound losses, banks are pushing unprofitable companies into insolvency or demanding ­control through a debt-for-equity swap. In Spain the local savings bank Bancaja has ­practically taken control of Valencia, who have about £500m of debt. However, the source added: "It doesn't make sense to take control of a business that's performing well; this approach could be applicable to Liverpool."

The refinancing deal will buy Hicks and Gillett time as they attempt to avoid having to sell Liverpool, although their prospects of borrowing a further £400m to build a new stadium on Stanley Park have receded. Last week's accounts included a warning from the accountants, KPMG, that there would be "significant doubt on the group's and parent company's ability to continue as a going concern" without an extension to the £350m loan. A source close to Hicks responded that the Texan was "very relaxed" and "confident".

Liverpool's manager, Rafael Benítez, meanwhile, has ­confirmed that he has funds to enhance his squad this summer. "I won't talk about any figures and I can't say how much we have," he said. "Clearly we don't have too much to spend but I think we have enough money to add the one or two players that we need."

 

[Roger REDerer]

[quote author=Ryan link=topic=33990.msg885442#msg885442 date=1244593509]
"....has ­confirmed that he has funds to enhance his squad this summer.......Clearly we don't have too much to spend but I think we have enough money to add the one or two players that we need."[/quote]

Errr helloooooooooo

Is it just me or has anyone else not missed this out ??

It basically means we will not be buying world-class talents simply cos we don't have the money to do so, especially in such an absurdly inflated market like the one now.

And it also basically means we will buying mediocre shite as per usual.

So all in all.....greeeeeeeeaaaaaaatttt

 

[Boozer]

[quote author=Roger REDerer link=topic=33990.msg885929#msg885929 date=1244663868]
[quote author=Ryan link=topic=33990.msg885442#msg885442 date=1244593509]
"....has ­confirmed that he has funds to enhance his squad this summer.......Clearly we don't have too much to spend but I think we have enough money to add the one or two players that we need."[/quote]

Errr helloooooooooo

Is it just me or has anyone else not missed this out ??

It basically means we will not be buying world-class talents simply cos we don't have the money to do so, especially in such an absurdly inflated market like the one now.

And it also basically means we will buying mediocre shite as per usual.

So all in all.....greeeeeeeeaaaaaaatttt
[/quote]

Really. I thought it basically means we can afford to buy his main targets, which is basically exactly what he says.

 

[Whitey85]

[quote author=Roger REDerer link=topic=33990.msg885929#msg885929 date=1244663868]
[quote author=Ryan link=topic=33990.msg885442#msg885442 date=1244593509]
"....has ­confirmed that he has funds to enhance his squad this summer.......Clearly we don't have too much to spend but I think we have enough money to add the one or two players that we need."[/quote]

Errr helloooooooooo

Is it just me or has anyone else not missed this out ??

It basically means we will not be buying world-class talents simply cos we don't have the money to do so, especially in such an absurdly inflated market like the one now.

And it also basically means we will buying mediocre shite as per usual.

So all in all.....greeeeeeeeaaaaaaatttt
[/quote]

Wait until the end of the summer before jumping to conclusions like this Rog.

 

[Jürgen4PM]

Liverpool owner receives takeover bid

George Gillett, co-owner of Liverpool Football Club in England, seems set to relinquish his control of the Montreal Canadiens National Hockey League franchise. Gillett, who has been undertaking an analysis of his sports property ownership which also includes a stake in Richard Petty Motorsports, Nascar team, has received two offers for the franchise. Reports from Canada indicate the bids may be as much as US$300 million.

The first is from the Molson Coors Brewing Co., effectively the Molson family. Led by Geoff Molson the consortium of potential investors includes his brothers Andrew and Jim. Geoff Molson, currently a director of the Canadiens as a result of his family’s minority shareholding in the team, said: “We have assembled a very solid and credible group of investors and financial institutions as part of our offer.â€

The second confirmed offer has come from Quebecor Media Inc., a Canadian media company that owns many of the country’s newspapers. Pierre Karl, the Quebecor chief executive, called the Canadiens “unquestionably one of the most prestigious and iconic sports franchises in the world†and described his bid as a “golden opportunity†for a Quebec-based firm to take over the team.

Currently Gillett is believed to own 80.1 per cent of the franchise with the Molsons owning the rest, a legacy of their previous full ownership of the franchise which dates back to 1957.

Gillett bought the Canadiens eight years ago for US$181 million. He also owns the Bell Center, where the team plays its home games. It is thought the venue would be part of any deal to buy the team.

 

[cochyn]

[quote author=Roger REDerer link=topic=33990.msg885929#msg885929 date=1244663868]
[quote author=Ryan link=topic=33990.msg885442#msg885442 date=1244593509]
"....has ­confirmed that he has funds to enhance his squad this summer.......Clearly we don't have too much to spend but I think we have enough money to add the one or two players that we need."[/quote]

Errr helloooooooooo

Is it just me or has anyone else not missed this out ??

It basically means we will not be buying world-class talents simply cos we don't have the money to do so, especially in such an absurdly inflated market like the one now.

And it also basically means we will buying mediocre shite as per usual.

So all in all.....greeeeeeeeaaaaaaatttt
[/quote]

its just you, your reading into it far too much, what does say is not a lot to be honest, its a very cagey statement

 

[SaintGeorge67]

http://forum.canadiens.com/index.ph...9bee&showtopic=21592&st=0&start=0

last page really