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 Attempt to force Gillet and Hicks Out

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Shankly Gates
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PostSubject: Attempt to force Gillet and Hicks Out   Mon 2 Aug 2010 - 12:20

Liverpool co-owners set to be ousted by Chinese billionaire Kenneth Huang
Kenneth Huang, a Chinese billionaire, has made a direct offer to the Royal Bank of Scotland to buy Liverpool’s £237 million debt and oust the club’s current owners, George Gillett and Tom Hicks.

By Rory Smith
Published: 7:15AM BST 02 Aug 2010



RBS has granted George Gillett time to speak to Syrian businesman Yahya Kirdi Photo: AP In an effort to delay RBS accepting the offer, Gillett has presented Syrian businessman Yahya Kirdi as a viable bidder for Liverpool.

Gillett informed RBS last week that he was in advanced negotiations with Kirdi, a former Syria international footballer, after Huang entered into talks with the bank over a deal that would see the American and his partner, Tom Hicks, exit Anfield without any profit.


Huang, a Wall Street stockbroker and chairman of the Hong Kong-based QSL Sports group, is backed by one of the wealthiest investment funds in the Far East. It is believed he has already approached a number of senior figures at the club to prove his determination to force Hicks and Gillett out, while he will also ask Fernando Torres, due to return to training today, to delay a decision on his future.

Huang’s bid will have the financial clout to provide the Spaniard with the squad reinforcements he has made plain he wishes to see if he is to stay on Merseyside and will clear the club of debt, but that proposal is unattractive to Hicks and Gillett.

By approaching RBS directly, Huang hopes to seize control of the club by guaranteeing the repayment of the vast majority of the debt the Americans have laden on to Anfield. His offer, though, will fall far short of the £600  million price Hicks and Gillett expect for their shareholding in the club.

As a condition of the refinancing deal put in place this year — which coincided with the appointment of Martin Broughton as Liverpool’s chairman — RBS can take control of the sale and negotiate a deal should they feel such action represents the best course to repay their loan and secure the sale of the club.

Gillett, though, had hoped to delay the process by introducing Kirdi as a possible alternative, to force Huang — who hopes to conclude the deal in the coming days to ensure manager Roy Hodgson has the chance to strengthen his squad this month — to make an improved offer.

RBS, who are obliged to listen to any bids raised by the club’s owners, have granted him time to discuss a deal with the Syrian, though sources at Liverpool have dismissed the idea that the businessman is a legitimate contender to buy the club and he is not expected to lodge a firm bid.

Kirdi, a long-term friend of Gillett’s son, Foster, was first linked with a takeover in April, but an offer failed to materialise after it emerged he was not, as suggested, backed by funds from the United Arab Emirates.

The Americans officially put the club up for sale in April, appointing Broughton as chairman and Barclays Capital to oversee the process. As recently as July 1, Broughton was bullish about triggering an “auction” for the club, insisting a sale could be completed before the end of the summer transfer window.

However, no firm offers have been received and RBS face the prospect of Hicks and Gillett retaining control beyond the end of the month, when Liverpool become a significantly less attractive proposition, thanks to the closure of the transfer window.

Despite reports that RBS had, with the appointment of Broughton, agreed to refinance Liverpool’s debt for another year in order to grant the British Airways chairman time to guarantee a sale, the bank has the option of calling in a portion of the debt in October.

Should Huang’s bid be rejected by the bank and no offer at the level Hicks and Gillett hope be forthcoming, Liverpool’s loan could become distressed debt, raising the spectre of the club being put into administration.

Meanwhile, Liverpool lost 1-0 to Borussia Mönchengladbach in Germany yesterday. Joe Cole made his first appearance in a red shirt, while Glen Johnson, Steven Gerrard and Jamie Carragher all featured.

Roy Hodgson, the club’s manager, is “in contact” with Juventus midfielder Christian Poulsen over a potential £4 million move, the player’s agent has revealed.

Emiliano Insua’s move to Fiorentina has collapsed after the Argentine failed to agree personal terms.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Mon 2 Aug 2010 - 12:42

Given the report of the hostile takeover bid being launched by Huang and also the recent statement by Broughton that the right buyer would found and also given the
total absence of any other real buyer and by this I mean forget the fake arab being presented by Gillet. Then if Mr Huang has the backing to to do what he says he will do, and this needs confirming i.e. pay off the debt, make available transfer funds immediately, build new stadium immediately.

As I have said "IF" it can be proved he has the funds then they have to sell him.


This Hostile take over is just what is needed in my opinion as it will scare the living daylights out of the present owners as they realise just what a fragile position they are in.
A sharp dose of reality that could mean them walking away with virtually nothing, although I personally believe they have already taken their profit out of the debt that has been accumulated.

By this I mean some of that debt went straight into their pockets so they will never walk away with nothing.

I expect immediate movement on the sale of the club following this announcement either the hostile takeover succeeds or a new buyer takes over at a realistic price but one or the other will now happen.

LFC scarf LFC scarf LFC scarf

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Mon 2 Aug 2010 - 20:50

Sportsmail Reporter Last updated at 3:16 PM on 2nd August 2010

Chinese businessman Kenny Huang has pledged to invest heavily in Liverpool should his ownership bid succeed.
Promises: Huang has big ideas for Liverpool
The head of Hong Kong-based investment company QSL Sports Ltd has been in talks with Royal Bank of Scotland for some time over buying out the Reds' £237million debt.
That would give him 'a ridiculously large amount of leverage', a source said, in order to be able to force out unpopular owners Tom Hicks and George Gillett.


But the spending would not stop there as Huang, whose interest is described as 'remarkably serious', is keen to get a deal done in order to be able to furnish manager Roy Hodgson with money to spend in this month's transfer window.
In addition, he will also turn his attention to finally getting Liverpool's new 60,000-seater stadium built in Stanley Park after three years of inertia.

'He wants to get it done quickly so investment can come this summer,' said a source close to the bid.
'Liverpool need investment in the playing squad and infrastructure and Huang wants to build the stadium.
'The club has an outstanding reputation but does not have the infrastructure to keep with it and make it grow.'
Huang is backed by one of the wealthiest investment funds in the Far East and is well known in China for his interests in baseball and basketball, last year buying a 15 per cent stake in American NBA side Cleveland Cavaliers.
Liverpool's American co-owners owe RBS about £237m

He was first linked with a buy-out at Liverpool two years ago but believes now is the time to make his move.
Huang is making all the right noises to get supporters on board but, although the majority will be delighted to see the back of Hicks and Gillett, the fans will be wary of grandiose promises.
The American owners made similar claims when they assumed control at Anfield just over three years ago, with Gillett insisting there would be a 'spade in the ground (for the new stadium) within 60 days'.
That particular boast, like many others, remains unfulfilled while investment in the squad has gone backwards during their tempestuous reign.

The pair put the club up for sale in April after admitting they had taken Liverpool as far as they could and independent chairman Martin Broughton was appointed along with Barclays Capital to find a new buyer.
However, Huang bypassed that process completely by going straight to major creditors RBS.
He hopes by making an offer which will see the bank receive most of their money back he can stay one step ahead and force Hicks and Gillett out of Anfield.
'By going to RBS you can leverage a large amount of pressure that no one else can on the owners,' the insider added.
'It is a deal which has no interest in shareholders, meaning there will be no profit for Hicks and Gillett.'

Gillett informed RBS last week that he was in advanced negotiations with Syrian businessman Yahya Kirdi.
However, this has been viewed as a stalling tactic in an attempt to delay the bank's considerations.
If RBS decide to turn down Huang's proposal - and no new viable bidders are forthcoming - they have the option of calling in their loan in October.
It would then be classed as 'distressed debt' but with the transfer window, by then, having closed Liverpool would be a much less attractive proposition to investors.
Huang is believed to have already spoken to senior figures at Anfield to express his seriousness about a buy-out and in the hope that his message will filter down to help persuade top stars like Fernando Torres, who returned to training today after his post-World Cup break, the club does have a better future.



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PostSubject: Re: Attempt to force Gillet and Hicks Out   Tue 3 Aug 2010 - 12:32

The statement below from Broughton smacks of desperation to me. Remember he is Hicks and Gillets man on the board. Purslow is the banks man. He openly admits that more than one offer has gone direct to RBS, the obvious question is why??? If the board truly is in control why would International business men be wasting their time sending an offer directly to RBS???

I don't believe the Board as Broughton describes it is really in control at all.

The reality is Huang and possibly others have gone for what has always been Hicks and Gillets achilles heel. If they cannot pay the debt by the due date October(Transfer window closed club loses value) and the board was to block them from a fire sale of players as this would possibly risk devaluing the club to an extent that their debt could not be recovered they are then caught between a rock and a hard place. If RBS decides to sell the debt whoever buys it effectively controls the club and Hicks and Gillet are sidelined without any power. As I said in my previous post I believe we have entered the endgame stage of the H and G saga.



Broughton: Looking to conclude a quick sale

..The sale of Liverpool could be concluded this month, but chairman Martin Broughton insists the board remain in control of any deal.

Chinese businessman Kenny Huang has expressed his interest in assuming control of the Reds, with suggestions he would seek to acquire the club's £237million debt from the Royal Bank of Scotland.

However, Broughton, who was brought into the club in April to facilitate a sale, revealed there had been "several" bids for the Reds and insisted the decision over the sale will be made by the Liverpool board.

"Any bids that go straight to RBS - and there have been several - come to me and are directed to Barcap (Barclays Capital)," he told the Guardian.

"RBS are not involved. The control remains with the board."

Broughton, who was brought in to oversee the sale process, added: "It still remains the objective to conclude a deal before the end of the transfer window.

"That remains the objective but there are no deadlines, and we will continue working to complete the process.

"Both George Gillett and Tom Hicks remain on the board and they have given commitments that the board of Kop Holdings (Liverpool's UK parent company) is the party that is responsible for the sale."

Huang is the head of Hong Kong-based investment company QSL Sports Ltd and is believed to be keen to secure an agreement as soon as possible in order to give manager Roy Hodgson plenty of time to bring in reinforcements before the end of the transfer window.

Huang is believed to have already spoken to senior figures at Anfield to express his seriousness about a buy-out and in the hope that his message will filter down to help persuade top stars like Fernando Torres that the club does have a better future.

Torres has yet to publicly commit himself to the club and speculation still links the Spain striker with the likes of Chelsea and Manchester City.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Tue 3 Aug 2010 - 13:30

05:55 AM Aug 03, 2010LONDON - The battle for ownership of Liverpool has returned to the spotlight with reports that Chinese billionaire Kenny Huang has made a direct offer to the Royal Bank of Scotland to buy Liverpool's £237 million ($507.5 million) debt and oust the club's current owners, George Gillett and Tom Hicks.

Huang, who is partnered by one of the biggest sovereign wealth funds in the Far East, is determined to seize control before the transfer window closes at the end of the month so that new manager Roy Hodgson can be given extra funds to sign much-needed players this month.

He will also ask star striker Fernando Torres, who was due to return to training yesterday, to delay a decision on his future.

Huang will have the financial clout to provide the Spaniard with the squad reinforcements he has made plain he wishes to see if he is to stay on Merseyside and will clear the club of debt, but that proposal is unattractive to Hicks and Gillett.

By approaching RBS directly, Huang hopes to seize control of the club by guaranteeing the repayment of the vast majority of the debt the Americans have laden on to Anfield.

His offer, though, will fall far short of the £600? million price Hicks and Gillett expect for their shareholding in the club.

The duo made an initial investment of £220 million in their leveraged buyout of Liverpool in February 2007.

As a condition of the refinancing deal put in place this year - which coincided with the appointment of Martin Broughton as Liverpool's chairman - RBS can take control of the sale and negotiate a deal should they feel such action represents the best course to repay their loan and secure the sale of the club

Huang, a Wall Street stockbroker and chairman of the Hong Kong-based QSL Sports group, is backed by one of the wealthiest investment funds in the Far East. It is believed he has already approached a number of senior figures at the club to prove his determination to force Hicks and Gillett out.

The tycoon was first linked with a buyout at Liverpool two years ago but was put off by Hicks and Gillett's £650 million valuation. He made his most recent approach during the World Cup two months ago, saying players like Torres should be aware of any potential investments before deciding on their futures.

A buy-out could unlock a new financial future for Anfield, with Huang believed to be prepared to fund their new stadium plans.

Torres was said to be encouraged by the prospect of Huang's approach after he was briefed.

The Spanish striker is said to be frustrated at Liverpool's below-par performances in recent years. Last season, the Reds failed to qualify for the Champions League and will compete in the second-tier Europa League competition.




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PostSubject: Re: Attempt to force Gillet and Hicks Out   Wed 4 Aug 2010 - 11:00

With regard to the report below the fact that Gillet introduced this guy would be enough for me to want to discard him as a serious purchaser. I see this as an attempt by Gillet to force the price up nothing more. Broughton said we would sell to the best buyer of LFC subject to certain criteria this Arab /Canadian concoction would not to my mind meet this.

Apparently the sale will be decided by a 3 man majority of the board which means that Broughton could quite easily be outvoted. This is subterfuge by Gillet nothing more.


Liverpool have witnessed a twist in their takeover saga after the emergance of reports that a consortium of Arab and Canadian businessmen are in advanced discussions with the Premier League club.

Kenny Huang was thought to be in pole position to buyout American duo George Gillett and Tom Hicks at Anfield, and Sky Sports News reported on Tuesday that the Chinese tycoon had made a formal offer.

But now a group containing investors from the Middle East and Canada, fronted by former Syria international Yahya Kirdi, are said to be finalising a purchase price, repayment of debt and financing for Liverpool's planned new stadium in Stanley Park.

Co-owner Gillett is understood to have introduced Kirdi, a Unicef representative, to senior Anfield staff and the Royal Bank of Scotland, to which the club owes a reported £250million.

Sky Sports News have quoted Kirdi as saying: "Liverpool is a massive football club with passionate and proud fans in Merseyside and in every part of the world.

"With additional money to improve the squad and financing in place to build the new stadium, Liverpool will be on a solid foundation to compete in the Premiership and in Europe for years to come."

Gillett and Hicks put Liverpool up for sale in May and appointed Martin Broughton as chairman to oversee the process and Barclays Capital has been hired to assist.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Wed 4 Aug 2010 - 11:08

Huang's decision to go public with his bid for the club was an attempt to pressure RBS and Broughton into pressing forward with his offer. While Hicks and Gillett are highly unlikely to approve any deal that does not reflect the value they believe they have added to the club, the other members of the board could overrule them and approve a sale.

As well as Broughton, managing director Christian Purslow and commercial director Ian Ayre sit on the board, and together could outvote the Americans.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Thu 5 Aug 2010 - 15:26

It is being rumoured the Chinese government is behind Kenny Huang' attempt to buy LFC.

Now I believe the Chinese government takes a long term view of matters when making investment decisions.

They also tend to carry through on their commitments getting what they planned done.

Are they doing this for a profit? I would almost certainly think so, although the boost that could be given to their national game and the possible
world wide platform for their best players could equally be sound reasons as to why they would wish to purchase LFC.

Am I concerned about their human rights record? In a word NO.

And I believe the people who are making an issue out of this are not LFC fans, just fans of other clubs who would not like to see Liverpool revived with no debt a new stadium and a transfer budget to compete with anyone. Oh and I suppose Spirit of Shankly ought to be included in the votes against as this would totally eradicate them and their ideas.

Do I like the way they are going about this deal by pushing out the Yanks with the minimum profit possible? Very much so.

Do I believe Kirdi is a serious bidder when he publicly states that the club is being sold too cheaply!!! And his deal would include a consideration for the present owners!!!

Again in a word NO

Nobody and I repeat nobody talks the price up when they are trying to buy something.

I seriously want the Chinese deal to go through as Liverpool fan and my only real concern is that we may be forced to play Chinese players who are as good as we already have. And that is my only concern.

I don't know how to say "thank you very much" in Chinese but if this deal goes through I will learn.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Fri 6 Aug 2010 - 12:37


By Rory Smith
Published: 7:15AM BST 06 Aug 2010

Good news: Chinatown in Liverpool has greeted the potential takeover with warmth Photo: HOWARD BARLOW Such are the funds apparently available to Kenny Huang and his mysterious backers that they might have chosen any football club in the world. They did not just happen upon Anfield, though. This is more than just chance.

True, England’s most decorated football team represent a sound commercial vehicle, an almost unrivalled investment opportunity. They are the grandest name in the country in the doldrums. By returning Liverpool to their perch, there is money to be made.


But it is more than that. Liverpool resonate in China, thanks to their prominence at the time when Chinese state television finally opened up its broadcasts to outside influences. And China resonates in Liverpool.

“Go to the waterfront in Shanghai,” says Jennie Wong, owner of Ma Bo restaurant on Nelson Street, just by the ornamental arch which represents the heart of Europe’s oldest Chinatown. “It looks just like the Liver buildings.” And parts of Liverpool, no doubt, return the favour. The city’s Chinese community is second biggest to San Francisco globally. They are fiercely proud of their identity, both local and ancestral. Little wonder the prospect of Liverpool falling under Chinese ownership is seen as a positive.

“I would feel a great sense of pride if we became a successful club on and off the pitch under Chinese ownership,” says Alex Woo, 20, a property administrator who sacrificed his Anfield season ticket in protest of Tom Hicks and George Gillett. “It would have financial advantages – merchandise sales in Asia and increased market exposure.

“Given the already strong links between China and Liverpool, and the large Chinese population in the city, I think Chinese ownership would definitely be a better fit for us than owners from, for example, the Middle East or North America. Potentially, I think it would be highly beneficial for the city, too, as I’d envisage an increase in tourism and commerce from eastern Asia.”

The concerns over Huang’s potential takeover, of course, centre on the mooted role of the Chinese government, though sources close to the China Investment Corporation, Huang’s apparent backers, dismissed reports of their involvement. Such a prospect, of course, raises the spectre of moral, rather than just economic, concerns.

“Human rights should not come in to it,” says Colin Ling, a Liverpool-supporting business consultant. “The only way to open the country up is to expose them more to the West

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PostSubject: Excellent article   Fri 6 Aug 2010 - 12:40

Get real Liverpool fans, we sold our soul to the Chinese ages agoBy Des Kelly


It’s too late to moralise over human rights abuses just because China wants to buy a Premier League football club.

It’s too late to start whining about the implications of taking cash from the Chinese Government just because some men who kick a ball about might find they have unsavoury new paymasters.

Take a look at your clothes, or at the sports shoes you are wearing. The chances are they will say ‘Made In China’ on them, just like the label on your refrigerator, on the back of your television or on half of your child’s toy collection.

China is the largest exporter in the world - and their largest export is money. We can pick and choose when their cash and trade might be acceptable, but it would be preposterously naive.

When America teetered on the brink of financial collapse, it was Chinese money that dragged the economy back from the precipice.

Our own Chancellor George Osborne said the UK’s recovery is reliant on China’s trade and investment when he went cap in hand to Beijing just eight weeks ago.

So what is he going to do now, express concern that Liverpool might pass into Chinese ownership? Don’t be ridiculous.

China already owns a considerable chunk of Canary Wharf in east London, the heart of the nation’s financial empire. So it’s meaningless to complain Britain is selling its soul. That was traded a while back, with repayment conditions.

Anyone who tries to pretend football is different and exempt from the rules of the international market has not been paying attention over the last decade.

Oddly, some are still embarrassed by their dependence on Chinese cash, if only for public relations purposes.


The Apple iPod sitting next to me, for instance, is labelled ‘Designed by Apple in California, Assembled in China’, as if the thought that the gadget had been sketched in Cupertino makes a difference to workers paid less than £1 a day to bring the design to life in Shanghai. Either way, I’ll bet you bought one. Does that make you a hypocrite? Probably.

Our Premier League actively sells itself as a global product. The fact that there remains anything English about it is merely down to a quirk of geography.

England might be where the matches are played (for the time being, at least) but conglomerates, governments and businesses from around the world increasingly control the process.

The Premier League has been happy to embrace oligarchs like Chelsea owner Roman Abramovich, who has links directly to Russian Prime Minister Vladimir Putin.

You may think he is a private investor, just as you may think he earned those billions of his without government help.

Remember the Premier League also rolled out the red carpet at Manchester City for Thaksin Shinawatra, the former Prime Minister of Thailand, despite huge controversy over his involvement in human rights abuses in his homeland.
When he was sentenced on corruption charges, the Abu Dhabi United Group stepped into the void. They are the investment arm of Sheik Mansour and the royal rulers of the United Arab Emirates’ second largest federation.

If you imagine they don’t have human rights controversies in the UAE, visit a building site in Dubai or Abu Dhabi and ask the migrant workers from Pakistan for their views on the matter. Yet few complain this is ‘dirty money’.

And who do you think funded all those wonderful stadiums when Britain was waving the Union flag at the last Olympics? China is a one-party Communist state.

When you deal with China, you deal with the government somewhere along the line, end of story.

That does not excuse ongoing human rights abuses. It does not mean we should forget the horrors of Tiananmen Square.

But ethics are not something to be brought out for special occasions, like your mother’s best porcelain tea set. We either do business with China or we do not.

Twelve months ago the Premier League chief executive Richard Scudamore oversaw a new TV deal that ensures live football is moved on to the Communist-run CCTV terrestrial network for maximum exposure to the 1.3bn population.

The Communist state’s TV propaganda arm will boost every club’s profile and profit. How can English football now complain China wants to spend that money on the product they have been asked to endorse?

The Premier League is merely another plaything, like a giant game of Risk, where America, China, Russia and the Arabian oil powers move their pieces around and use sport to promote their image, boost commerce and shift huge sums across international borders.

Hand-wringing about the moral consequences is futile. Yes, the Free Tibet movement might sell more T-shirts to Everton fans, but beyond that, everyone knows the Kop would happily sing Ferry Cross the Yangtze if Chinese cash helps them win the league again.




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PostSubject: Re: Attempt to force Gillet and Hicks Out   Fri 6 Aug 2010 - 12:49

So we are now hearing denials from Mr Huang and the CIC that this is where the funds are coming from?

Given the way that business is conducted in China this seems perfectly normal to me.

A couple of points I would like to make here.

There is an awful lot of money floating around in China looking for a home in a currency other than the Chinese RMB

If things go quiet, as they seem to be doing, this signifies to me that we have probably entered the due diligence period and nothing will be said until this process is complete.

All I can ask is that those carrying out the due dilligence process do it a little more thouroughly than they did with Hicks and Gillet. The fact it is an international investment bank that is carrying out this task should ensure that a better job is made of it this time.

If Mr Huang and his backers, whoever they may be, have the funds to buy out the debt, build the stadium and provide immediate funds for the manager then now is the time to prove it!

Really our motto here has to be " We won't get fooled again"

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Fri 6 Aug 2010 - 13:00

China's Liverpool bid promises huge transfer fund, new stadium and end to debts... but no windfall for unpopular American owners
By Sportsmail Reporter
Last updated at 10:21 AM on 6th August 2010

The Chinese investors trying to buy Liverpool have pledged to rival Manchester City and Real Madrid by making them one of the biggest spenders in world football.

The cash-strapped club would also be made completely debt-free and American owners Tom Hicks and George Gillett have been warned not to expect a windfall from the deal.
The bid fronted by Kenny Huang also promises to exploit the huge Asian market and follow through on promises to construct the long-delayed new stadium.
You won't make a fortune: Gillet and Hicks have been warned

Marc Ganis, whose Chicago-based company Sportscorp has helped form the investment group, said it first contacted Liverpool chairman Martin Broughton on Monday, a day after reports of a possible bid first surfaced.
UPPING THE BID
The Chinese investors four objectives are...
To make Liverpool debt free;
make a significant equity investment and construct the long-delayed new stadium to replace Anfield;
invest a large amount that would be available for player transfers;
have an Asian initiative to expand Liverpool's fan base and commercial activities with the goal of creating new economic value for the club using QSL's platform in China.
'We haven't submitted a formal proposal but we submitted the broad parameters of what a proposal would look like to see if it would be welcomed, and it was,' he said.
'Liverpool are and always should be one of the highest-spending clubs in all of football. And our financial models presume Liverpool will be at or near the top in spending on players every year.'
A company called QSL Sports would be controlling owner of the limited liability corporation that would own Liverpool.

QSL is co-headed by Huang, a Hong Kong businessman, and Guang Yang, executive vice president of Franklin Templeton Investments and chief investment officer of the China Life/Franklin Templeton Fund.
Ganis said those two would be the only owners involved in the management of the club. Other investors would be passive, and each would own no more than 20 per cent.
China Investment Corp - the country's sovereign wealth fund - would not have a direct ownership stake in the club. However, Ganis said it may be part of an investment vehicle organized by Yang and his financial team that would have a passive ownership interest.
'What is not one of our goals in the enrichment of the existing owners,' Ganis said. 'If we submit a proposal and it is accepted, it would be focused on the future and not the past.'

Barclays have told potential bidders they will have to show they have the financing to go through with the proposals. After QSL's interest emerged, former Syrian footballer Yahya Kirdi claimed on Wednesday that he was fronting a consortium of investors from the Middle East and Canada that was close to completing a takeover.
Liverpool have won 18 English league titles - but none since 1990. Beset by infighting between Hicks and Gillett plus player injuries, they failed to qualify for this season's Champions League, losing tens of millions in revenue.
But, amid the promise of a takeover, captain Steven Gerrard and star striker Fernando Torres have decided to remain with the club under new manager Roy Hodgson.

Ganis said any deal would not close until well after the summer transfer window ends on August 31, and Hodgson has already come to terms with the fact he can't spend immediately.


Hicks, whose MLB team the Texas Rangers were auctioned this week in US Bankruptcy Court in Fort Worth, bought Liverpool with Gillett three years ago in a deal valued at £271million. Hicks said he wants £600m to £800m for the club, whose known debt last stood at £236m.
Ganis said his group will not meet the owners demands.

'If anybody wants to, good luck,' he said, without disclosing what his group is willing to bid. 'We know what we would be prepared to do. If somebody else wants to look at it in a different way, it's their money. That would be their business, not ours.'
His group aren't concerned about high-spending owners in the Premier League, who include Manchester City's Sheik Mansour bin Zayed Al Nahyan and Chelsea's Roman Abramovich.
Ganis said the Financial Fair Play rules that begin for European football this season will help curb extreme spending on transfers.





'That creates certain constraints that many observers feel are quite responsible and will reduce the risk of irrational money being spent,' he said.

Ganis said that they have been impressed in many ways with the manner in which Liverpool are being operated.
'From what we have seen from afar, many of the people currently running Liverpool are doing a good job,' he said. 'There shouldn't be an expectation there would be a mass upheaval if we submit and are approved.'
Ganis and the China-based group began forming last spring as a potential investor with another group that evaluated a potential investment in Liverpool.

Ganis contacted the Royal Bank of Scotland, which holds Liverpool's debt, and was put in contact last week with Broughton and Barclays Capital, which is attempting to sell the club for the co-owners.

QSL, in conjunction with the Chinese government, owns and operated two professional sports leagues and one minor league. QSL also owns sports publications and in September will roll out an all-sports website.




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PostSubject: Re: Attempt to force Gillet and Hicks Out   Sat 7 Aug 2010 - 14:19

The news coming from Kenny Huang is confusing at best. We have gone in less than a week from a position where his group would, pay off the debt, transfer funds immediately available in this transfer window, immediate start on the new stadium. To a situation where there are no funds available to start on the new stadium, the deal will not be complete before the end of the transfer window. He does still state that the debt will be paid off.

This smacks of deja vu.

We as Liverpool fans would take almost anyone as a new owner to get rid of H & G, or would we?

For me H & G are already gone. they can't make the repayments on their debt and the bank control the club. And to be fair the bank are doing a darn sight better job of running the club than either Moores or H & G did. The bank though are not in the business of running footbal clubs and want their money either back or the loan taken over by someone who has the ability to meet the payments without bankrupting the club.

If Mr Huang can truly clear the debt of the club as opposed to simply moving the debt from A to B i.e. robbing Peter to pay Paul or in this case H & G to pay RBS then it is a good move for the club. The motives of the new owners remain the same as H & G that is to unlock the potential value in LFC by running the club as a worldwide international brand opening up and maximising the potential of the markets of not only Asia but also the USA where football is a rapidly expanding business. You would also have to build the new stadium to allow the club to generate the income required to compete with the best among their peers. I read of certain comments of local Liverpool fans who felt that a football club should be owned and run by local people.

Whilst having some sympathy with this view it is sadly not realistic in the present world of International Business that football has become.

If we can acheive all of the aims above to not even put us on a par with income generated by Man U, Arsenal, Chelsea and soon Spurs when they get their new stadium open but as I said not EVEN put us on a par, but to commence the process of catching up with them then this can only be good news for LFC.

If Mr Huang is really the best proposal or even the only proposal, on the table to start this process then it has to be seen as good news. However the backtracking we have seen in just seven days does not fill me with confidence.
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PostSubject: Re: Attempt to force Gillet and Hicks Out   Mon 9 Aug 2010 - 11:31

Liverpool bidders prepare to play their hands in Anfield club takeover battle
Four of Liverpool’s suitors are expected to table bids soon after chairman Martin Broughton informed all interested parties they must submit formal, legally-binding proposals by the end of the week.

By Rory Smith
Published: 7:00AM BST 09 Aug 2010

Red letter day: The fight to take over Anfield is about to reach a crescendo Photo: GETTY IMAGES Kenny Huang, the Chinese entrepreneur who was the first to declare his hand in the battle to oust owners Tom Hicks and George Gillett and take control of the club, is expected to submit his offer, worth around £400 million, early this week, despite continuing confusion over the identity of his backers.

Huang has held talks with Broughton and Barclays Capital (BarCap), the investment bank appointed several months ago to identify new owners.


He is described as a “serious contender” by sources at the club, BarCap and the Royal Bank of Scotland, which owns Liverpool’s £237 million debt.

The three rival bidders who emerged after Huang’s declaration of interest last week all have just five days to decide whether they will attempt to better that offer.

Of those suitors, the Syrian-Canadian businessman Yahya Kirdi seems the most bullish. Reportedly backed by money from the Emirate of Sharjah, Kirdi is thought to be Hicks and Gillett’s preferred bidder.

Sources acquainted with the bidding process have informed Telegraph Sport that the Rhone Group, the New York-based private equity firm, and the Kuwaiti Al-Kharafi family are considering whether to crystallise their interest.

Broughton has insisted the process will not be an 'auction’ in which the highest price wins, but rather one in which he attempts to secure the best possible future ownership for the club. The proposals must include detailed plans and provide proof of funds.

Broughton is believed to be keen to secure a cash-only sale to one individual, rather than to two or more parties, to avoid a repeat of the debt troubles Liverpool have endured under Hicks and Gillett.

The club are also adamant that any new owner must provide detailed plans for the construction of a new stadium on Stanley Park, while at least one of the bids is expected to include provisions to draft former players and some fan representatives on to an advisory panel in contact with the club’s board.

Though Liverpool’s club secretary, Ian Silvester, suggested last week that any deal would take between “four and six weeks” to complete, time is of the essence for the club.

Hicks and Gillett paid around £36.5 million – £100,000 a day – in interest on their debt for the last period for which accounts are available. The longer the process drags on, the more money Liverpool will be forced to pay RBS to service their debt.

That debt has to be refinanced in October, when, if a sale has not been completed, Gillett and Hicks will be asked to pay down a substantial portion of their debt.

Meanwhile, Liverpool have been quoted £14 million for Tottenham striker Peter Crouch. That fee remains beyond Liverpool’s reach, at least until a takeover is completed.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Tue 10 Aug 2010 - 10:48

The Liverpool board will meet to consider offers for the club on Thursday with club chairman Martin Broughton hoping at least two serious bids will finally be tabled. On Monday night it was unclear whether the club's American owners, Tom Hicks and George Gillett, would attend.

By Paul Kelso, Chief Sports Reporter
Published: 10:24PM BST 09 Aug 2010


Broughton has asked for fully-costed offers from bidders, with several facing a significant credibility gap. According to sources with knowledge of the sales process none of the bidders has yet provided proof of funds, and in some cases they have proved evasive when Barclays Capital (BarCap) have attempted to establish where funding may come from.

According to one source the bidders can be split into two camps: those who definitely have the funding to invest but may not wish to, and those who are desperate to get involved but have not yet shown they have the money.



Huang group reveals detail on Liverpool takeover bid In the first group is the Rhone Group, a New York-based investment house, and a Kuwaiti bid fronted by Rafed Al-Kharafi. Neither has made any public statement. The Indian finance and media giant Sahara India Pariwar said on Monday it would not bid for the club "for the time being".

In the second group are two bids that have made a great deal of noise without demonstrating they have the money to buy the club. Most prominent has been the Chinese bid headed by sports investor Kenneth Huang.

Huang's associates and public relations advisers insist that he is a serious bidder, but the last eight days have done little to endorse his credibility.

Denials, misinformation and confusion have clouded almost every aspect of the Huang bid, and if he does buy Liverpool their supporters better hope he runs the club more coherently than his bid.

Huang initially claimed to have the backing of China's sovereign wealth fund China Investment Corporation (CIC) but within 24 hours this was denied, and on Friday Huang's American business partner, Marc Ganis, conceded CIC was not a committed partner, would take only a maximum of 20 per cent of their consortium if it did invest, and may not put in any money at all.

Huang will not reveal who is funding the bid, but Ganis said no investor would control more than 20 per cent, meaning that at least five individuals or companies will have a say, which would have implications for the efficient management of the club.

The identity of these backers also remains a mystery to Broughton and BarCap. It is understood that attempts by BarCap to meet them or speak by telephone have failed.

There has been confusion too over the role of Huang's business partner Guang Yang, who initially denied he was involved via his US employer Franklin Templeton.

Huang's own credentials have come under scrutiny, though not via his QSL Sports website, which has been displaying the message 'Site Under Maintenance', since early last week.

The company has investments in Chinese basketball and baseball and a marketing agreement with the Cleveland Cavaliers, but suggestions QSL had a 15 per cent stake in the NBA outfit were quickly denied in the US.

Huang has secured a positive reception from the Liverpool fan base, however, and has arranged to meet the influential Spirit of Shankly group.

There is similar scepticism in the sales process over the bid launched by Yahya Kurdi, though it is not shared by the American owners, who consider the Syrian-Canadian's Middle Eastern-funded bid serious.

Kurdi's suggestion that he would meet the American's valuation of more than £500 million, as well as doubts about the derivation of his finance, is the main source of scepticism.

Kurdi's is the only bid that appears to believe the Americans can expect a profit given this is a forced sale. Neither have his listed Canadian business interests, which include a pizza delivery store and an off-licence, built confidence in his ability to run Liverpool.

Kurdi, Huang and the rest have until Thursday to erase these doubts

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Tue 10 Aug 2010 - 10:53

I am extremely worried about the Kirdi bid. the fact that this guy has reportedly been in direct negoations with H & G is enough to put me off.

I still feel that this is nothing more than a ploy by H&G to try and drive the price up. I do however have confidence in Broughton who is doing the right thing by saying to prospective bidders now is the time to show us the colour of your money. I personally don't believe Kurdi has any, what worries me is that his interference on the part of H&G may put off serious bidders for the club.

Apparently we will know more by the time of the board meeting on Thursday.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Wed 11 Aug 2010 - 12:28

With Kirdi now appearing to stall on his bid saying he wants to wait 2 months before making a "possible" bid, suprise, surprise this guy' credibility that was already thin has just vanished completely. It would now appear that Huang has absolutely no opposition to any serious bid he might make although even has has not made a formal, fully costed and supported bid for the club at any price. The fact that he has no opposition would seem to put him in a very favourable position. We can only hope that Broughton does his due dilligence effectively.

Liverpool tiring of rival bidders' posturing

By Ian Herbert


Wednesday, 11 August 2010


Martin Broughton is willing to go back to Liverpool's bankers if no viable bid is received and try to extend the club's loan




The investment bankers seeking to sell off Liverpool believe those supporting the prospective bids should remove themselves from the limelight as work to secure a deal continues.


Barclays Capital (BarCap) believe that work behind the scenes to pull together a financial deal should take precedence over an attempt to win any PR battle and Martin Broughton, the BarCap investment banker and Liverpool non-executive chairman, hired by Liverpool's owners, George Gillett and Tom Hicks, to find a buyer, is understood not to welcome the public utterances.

There is as yet no evidence that bids to buy the club will be on the table before the Liverpool board meets at Anfield tomorrow, though BarCap will not rush the process and will be looking for proof of funds from bidders before it can award preferred bidder status to any one prospective buyer.

The bid supposedly being put together by the Syrian businessman Yahya Kirdi has always seemed the least credible and Kirdi created more uncertainty about his intentions yesterday. He said he was not a "cowboy" and not crazy enough to pay "one pound more" than the market value of the club and rejected the suggestion that he had offered £600m.

"I can't pay one pound more than value of Liverpool," Kirdi said from his home in Montreal. "I'm not crazy," said Kirdi, who also claimed Liverpool had already rejected two of his bids since the club was put up for sale by its American owners in April.

Kirdi, whose representatives have suggested he wants to create a hotel and retail facility as part of a new ground development, said he is backed by "big names" from the Middle East and Canada. He refused to identify them, saying they wanted to remain anonymous until his offer was accepted.

If no viable bid is tabled, Broughton is prepared to go back to Liverpool's bankers, Royal Bank of Scotland, whose £237m loan to Hicks and Gillett is up for refinancing on 6 October and decide on the next course of action. The most likely option would be another extension of the loan, giving Broughton a further six months to find a buyer, though the alternative would be the bank taking over the club.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Thu 12 Aug 2010 - 10:21

The Daily Telegraph can disclose that the decision to postpone was taken amid continuing doubts about the credibility of potential bidders and after the date had been publicised in the media.

A well-placed source said it would have been “premature” to meet this week, indicating that the club were yet to receive any formal offers backed by proof of funds.

Sources said the board would not meet this week

and it is unclear when the five-man group – chairman Martin Broughton, owners Tom Hicks and George Gillett, managing director Christian Purslow and commercial director Ian Ayre – will now convene.

The delay raises doubts about the club’s prospects of changing hands this month, or even before the Oct 6 refinancing deadline set by Royal Bank of Scotland.

Broughton had asked as many as six potential buyers to table detailed offers, including proof of funds, by the end of this week, in the hope that two might be worth serious consideration. That deadline now looks ambitious.

For supporters desperate for clarity amid the claims and counter-claims of the last fortnight the postponement is not a positive sign.

Broughton might still emerge from the fog of speculation clutching a piece of paper securing the future of Liverpool FC in the near future, but this does not make it feel any more imminent.

At least five potential buyers are thought to have expressed an interest.

Chinese-American businessman Kenneth Huang and Syrian Yahya Kurdi have both said they are considering an offer for the club, while the Kuwaiti Al-Kharafi family and New York investors the Rhone Group are also thought to have expressed an interest.

Indian conglomerate Sahara said this week it would not bid “for the time being”, but did not rule it out.

Until any of them table offers with proof of funds, Broughton’s hopes of securing a deal before the end of the transfer window will be dashed.

The timing is significant. The deadline for formal offers falls on Friday and marks the end of the two-week window after which Huang indicated he would walk away if his offer was not accepted.

It is also just over a fortnight from the closure of the transfer window, the last opportunity for Roy Hodgson to enhance his squad.

It appears likely now that the window will close without a formal change in Liverpool’s ownership, leaving the far more significant deadline set by RBS looking like the decisive factor in regards to the fate of the club.

The bank agreed to extend its £237 million loan facility in April only after Hicks and Gillett agreed to sell and to appoint Broughton to oversee the process.

RBS is also understood to have imposed more expensive terms on the Americans, with £110 million of their debt reportedly converted to payment-in-kind loans accruing interest of up to £2.5 million a week.

This gives RBS by far the greatest leverage of any of the players in the Anfield saga, though whether the bank will choose to use it remains to be seen.

RBS is reported to have offered to “ease” the financing for any bidder, a move that emphasises the sensitivity of its position.

If October arrives with no acceptable offer RBS could extend its financing to the Americans again, or take a more drastic step and force out Hicks and Gillett and effectively take control of the club.

That would be a hugely controversial step for the publicly-owned bank to take and would require the endorsement of senior management including chief executive Stephen Hester.

Removing the Americans might be popular on Merseyside and would certainly simplify the process, but it would not be without implications for the bank’s reputation.

For potential bidders RBS’s situation offers an opportunity. Letting the clock tick down will increase the bank’s anxiety, the fees paid by Hicks and Gillett and drive the price down .

Sahara’s statement this week suggests that may be its strategy.

Kurdi, understood to be backed by investors from Sharjah and considered a serious bidder by the Americans, who are seeking a profit from their time in charge at Anfield, indicated he would do likewise.

“I want at least two months, two months to see everything. After that if everything is OK it’s a deal. If not, 'Thank you very much’,” he told Bloomberg this week.

The Huang bid told The Daily Telegraph on Wednesday that it had still not decided whether to make an offer.

Marc Ganis, a US associate of Huang’s, said via email: “We haven’t yet decided to submit a formal proposal but are interested in looking at an investment there. I suspect that is obvious. We also have not identified the potential investors.”

Ganis’s statement is a far more sober assessment than the suggestions of a swift Chinese government-backed takeover emanating from Huang’s camp last week.

Huang, a sports business investor who cites top-level contacts in China and the US, has made no comment himself since news of his intentions emerged last week.

There has been confusion over the source of his funding and the exact make-up of his team.

His background has come under scrutiny too, though not via his company website, which has displayed the message 'Site Under Maintenance’ since his involvement.

Huang received an endorsement on Wednesday when Randy Levine, president of the New York Yankees, told the New York Times he had arranged marketing tie-ups in China.

Huang would hope to forge similar links for Liverpool, but first, like everyone else circling the club, he will have to convince Broughton he has the finances to pay for it.

If he and the other interested parties cannot, RBS may have to decide the club’s future in the autumn.

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Thu 12 Aug 2010 - 10:34

This saga is going to get very messy.

Mentions of Broughton brandishing a piece of paper to say a deal has been signed at this stage only evokes an image of Neville Chamberlain, and we all know how that ended up.

Given that the interest is reportedly rolling up daily at depending on which figure you care to take but somwhere between £100,000 and £200,000 on the PIK loans taken out by H & G.
These loans are similar to those that are crippling Man U taken by their amercian owners. Is it any wonder that buyers are not putting their money on the table.

Quite simply something has to give. Either H & G come up with some new funds to pay down these loans and the sale of players is about the only place they could get it from. Or the bank basically repossess the club. It is reported they would be loath to do this as it could effect their reputation. I think they have and are probably repossesing peoples homes on a daily basis because they can't keep up their mortgage payments so what is the difference?

From a buyers perspective though you would just wait because the price of LFC is going to go only one way from here and that is down.

Immediately after the transfer window closes the value of the club will decrease. The value of the club is decreasing daily by the amount of interest that is racking up on the loans. If you were a prospective buyer you would simply follow the golden rule of waiting until the blood was running in the streets before making an offer.

Sadly this is the scenario I feel we shall shortly be witnessing.

Good luck to Roy Hodgson and the team becasue they are going to need it.
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PostSubject: Re: Attempt to force Gillet and Hicks Out   Fri 13 Aug 2010 - 12:48


By Rory Smith
Published: 11:00PM BST 12 Aug 2010

Rory's Twitter


Though Kenny Huang, the leading contender to oust the Americans, yesterday insisted talks are progressing smoothly, he admits he is only "50 per cent" confident of securing a £400 million takeover.

The bank, which holds £237 million of debt placed on the Anfield side by its American owners, has imposed the so-called "ticking fees" against Hicks and Gillett, rather than Liverpool, in an attempt to force a sale of the club.

Huang twist in Liverpool saga Hicks and Gillett are also thought to be personally liable for millions of pounds in punitive interest charges since RBS agreed to a new refinancing deal in April. The bank will take the fees out of the proceeds of a sale of the club, though should Liverpool fetch less than the £282.4 million sum of its total debt, RBS will pursue the Americans for the extra funds.

Liverpool's current owners are holding out for a £600 million deal to cover liabilities elsewhere in their business empires, but sources familiar with the sale have suggested that such a price remains a pipe-dream.

Yahya Kirdi, the Syrian-Canadian businessman acknowledged as the Americans' preferred bidder, has denied he will meet that valuation, while Huang is thought to be preparing an offer of around £400 million.

The Chinese entrepreneur yesterday broke his silence on his prospective takeover in an interview published by Love Basketball magazine in his homeland, insisting an outline proposal has been approved by Liverpool's chairman, Martin Broughton, and the club's board.

He also moved to assuage a number of doubts over his offer, including the provenance of funds and the identities of his backers, though he stopped short of confirming whether he had tabled a formal bid to buy the club.

"We have signed a confidentiality clause with regards to the acquisition of Liverpool," Huang was quoted as saying. "I am 50 per cent confident we will acquire the club. We have provided a large number of documents. Liverpool's board has approved our proposal and we will have an answer in less than 10 days.

"Liverpool's board have given us a positive response, but there are still plenty of unknowns. Our competitors are very strong and the board has not confirmed they will accept us. There are rivals from North America and the Middle East. We still have some distance to go, but we were informed the board regard our proposal as acceptable in the macro."

Huang also dismissed suggestions he would walk away should a deal not be completed by the end of the week and confirmed that Yang Guang, his partner in Liverpool's would-be parent company QSL, is involved in the bid in an advisory capacity.

Though Liverpool fans will be unconcerned by personal debts accrued by their unpopular owners, the club's future, should Hicks and Gillett manage to retain control at Anfield, will be a cause of considerable distress.

"Liverpool's is not a long-term business model," said Philip Long of PKF accountants, who conduct an annual survey into football finance. "There simply is not a happy ending to leveraged buy-outs. The burden of the interest outweighs any profits the club make, and that becomes unmanageable.

"The two Americans hanging on and seeing their debt refinanced by RBS, continuing to pay interest, is a far worse scenario than the bank taking over the running of the club. The debt burden will just increase to a point where the interest is not being serviced any more. The ultimate end game, if Hicks and Gillett cling on, is that Liverpool goes bust."
Meanwhile, Huang could come face to face with one of the American owners he is trying to oust from Anfield at a London conference later this year, writes Paul Kelso.

Huang has not spoken to the UK media since making public his bid for the club, but regardless of what transpires with Liverpool, he has already agreed to give a presentation at the Economist Global Sport Summit at the end of October.

Juang is listed under his Chinese name, Jian-Hua Huang, among the speakers on the conference website. A spokesman for the conference said he had confirmed his attendance weeks before his interest in Liverpool became public.

In a twist that could add a little tension to events, George Gillett is among the delegates who have indicated they will attend the conference, which will be held at the Grosvenor House Hotel on Oct 29, two days before the annual NFL match at Wembley.

Whether the ownership of Liverpool will have transferred between Huang and Gillett is a moot point, and it remains to be seen whether both men fulfil their commitment to the event. Two years ago both Gillett and Tom Hicks attended the conference

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Fri 13 Aug 2010 - 13:03

So RBS have started to play hardball with H & G. The interest racking up is now the personal debt of H & G and the bank have stated they will pursue them individually for any shortfall in the eventual purchase price of the club and the total amount owing. This is welcome news not just for us fans but also for any prospective owner as the price of buying out the debt has been stabilised. However it is a double edged sword of damocles hanging over LFC as the urgency to act on the part of any new owner is lessened and the possibilty of players being sold to finance debt is increased. Unless of course H & G have been sidelined by the bank to the extent that they no longer have a say and I tend to believe that is probably the case given this latest news.

I still feel though that as a prospective buyer a choice has to be made as to if you take the plunge and buy the club now by presenting a package the bank would be happy with or you wait until the club goes into administration and deal directly with the administrator. Hopefully this will not be the case as we could pick up points deduction penalties from the Prem League if this happened. The bank have already given guarantees that they will provide enough finance for the club to meet its commitments this season but what happens afterwards is any ones guess. This scenario would seem iunlikey also as the rate at which the debt on H & G is racking up would be enormous by the end of the season if there was no change in ownership.

One question that would worth knowing the answer to is do H & G really care if they are held personally responsible or more to the point CAN they effectively be held responsible?
If they answer is yes then this is excellent news and would confirm that the bank have total control of the club.
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PostSubject: Re: Attempt to force Gillet and Hicks Out   Tue 17 Aug 2010 - 12:44

It seems that an attempt was made by H & G at a board meeting last week for them to renogociate the debt of the club with another bank. Their idea was to set up a facilty with another bank to buy out £290 Million worth of debt held by RBS. Effectively taking RBS out of the picture and reganing control of the club.

This move was voted down by the majority of the board, Broughton, Poulsen and Ayres effectively outnumbering the votes of H & G. The americans are apparently seeking advice as to if they can challenge the legality of this vote?

This only confirms what I have been saying for some time H & G have been unable to meet their liabilities in regard to the loans they have taken out with RBS and the bank have effectively already repossesed LFC.

I do not expect the bank to come out and publicly state this as they do not see it in their public interests to be seen as having repossesed LFC but this is the true situation.

The fact they have already told H & G that if no deal has been done for the club by October 6th that the next tranche of Interest due £60 Million will NOT be added to the debt of the club but will be levied personally against H & G and that they will be personally and actively legally held responsible if they do not meet this payment.

Excellent news in my opinion.

Effectively H & G are already out of our club.

As to a legal challenge by them I think RBS would have already sought legal advice before taking this decision. I doubt that h & g have the resources to fund a challenge even if they thought they could win and I doubt they do.

So now we move on to finding the right buyer with the price of the club defined. This is important as I believe this has been the stumbling block that has prevented a sale of the club so far.

With the debt clock permanently ticking it meant that any prospective buyer never knew just how much they would have to pay for the club. That clock has now been stopped.

Allowing a sale to proceed.
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PostSubject: Re: Attempt to force Gillet and Hicks Out   Thu 19 Aug 2010 - 11:59


Liverpool chairman Martin Broughton was on Wednesday night on the cusp of seeing Kenny Huang, the only candidate who has made plain his intention to buy the Premier League club, walk away from negotiations.

By Rory Smith
Published: 8:30AM BST 19 Aug 2010


End of the road?: Kenny Huang is losing patience with Liverpool Photo: AP Sources at Anfield have suggested as many as five bids were submitted in time to meet Broughton’s deadline for offers last Friday, but of those only Huang has thus far confirmed he is in talks with the club over a potential takeover.

But the Chinese entrepreneur is believed to be unimpressed by the slow progress of negotiations over his proposed £400 million bid to buy out current owners Tom Hicks and George Gillett despite offering Broughton and Barclays Capital, the bank appointed in April to oversee the sale process, all the documentation required to complete a Memorandum of Sale.


Checks carried out by the club on the provenance of Huang’s funding have returned positive results and sources have confirmed that his offer is being taken seriously by Liverpool, Barcap and the Royal Bank of Scotland, who hold the £237 million of bank debt placed on the Anfield side by the current regime.

Huang had initially hoped to conclude a deal in time to offer manager Roy Hodgson substantial funds in the summer transfer window, though that now appears a remote possibility.

Huang admitted last week he was only “50 per cent” confident of succeeding with his bid.

Though Hicks and Gillett agreed to a full sale under pressure from RBS and advised by Michael Klein, the former Citigroup executive, after rejecting an investment offer from the Rhone Group six months ago, it has since emerged an attempt to refinance their debt with other lenders was blocked only by a legal challenge from their own board

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Fri 20 Aug 2010 - 11:32

Former Chelsea chief executive Peter Kenyon emerges as key player in Liverpool's takeover
Former Manchester United and Chelsea chief executive Peter Kenyon has emerged as a key player in Kenneth Huang’s proposed takeover of Liverpool, it was reported on Thursday night.

By Paul Kelso
Published: 7:00AM BST 20 Aug 2010




Peter Kenyon is understood to have been in talks with Anfield chairman Martin Broughton on behalf of Kenny Huang. Kenyon, who was in charge at Chelsea at the height of the club’s rivalry with Liverpool, is understood to have been in talks with Anfield chairman Martin Broughton on behalf of Huang’s QSL Sports bid.

Bloomberg News reported on Thursday night that Kenyon, now a director at the US-based Creative Artists Agency (CAA), was recruited several months ago because of his experience in English football and to offer insight into the financial situation of American owners Tom Hicks and George Gillett.


It is understood that Kenyon will remain involved during negotiations but would not take a seat on the club board if Huang wins control.

Sources close to Kenyon confirmed to The Daily Telegraph on Thursday that he and Huang know each other and have done for some time.

A spokesman for Huang declined to comment on the former Chelsea chief’s formal involvement in the takeover bid.

If confirmed the revelation of Kenyon’s involvement may offer the Huang bid credibility, but it could be controversial among supporters given the animosity that exists between Liverpool and his former clubs.

Kenyon was chief executive at Old Trafford from 2000 to 2003, and at Chelsea until last year, overseeing the club’s rise under Jose Mourinho that saw a bitter Champions League rivalry develop with Liverpool.

The revelation comes 24 hours after the Huang camp claimed to have issued Broughton with an ultimatum demanding that he close a deal before the transfer window or face the prospect of the Chinese walking away.

Sources close to the sale process were sceptical about the ultimatum on Thursday, suggesting it was a negotiating tactic. Huang’s spokesman said that he would issue a statement in the next 24 hours clarifying his position

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PostSubject: Re: Attempt to force Gillet and Hicks Out   Sat 21 Aug 2010 - 13:17

So Kenny Huang has decided to pull out of buying Liverpool?

Well he says he has pulled out, I personally believe it has got the stage where some serious questions were being asked and he couldn't answer them.

Contrary to what many may believe this is good news. You might ask how I can see it that way?

Quite simply we had the wool pulled over our eyes once, by H & G and the one thing the whole of the Liverpool fanbase is united on is that it is not allowed to happen again.

So I am pleased because it shows the Board are doing there job properly. If Huang thought he could just buy up LFC at a firesale price and exploit it further with no real interest in the club
he has been stopped from doing so.

There are many rumours flying about but the most likely one that I have heard is that he was asked to sign a confidentiality agreement and refused to. This would be normal business practice in any deal. Given that the press would have a field day with anything he decidedn to release to them in the interests of furthering his own aims would have been a potential catastrophe for the club.

So unless he wants to get real and treat this deal seriously it is bye bye Kenny.



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