TRon Posted January 23, 2009 Share Posted January 23, 2009 Please... Can you turn your interest to the north-east. The Independent : Liverpool are engaged in covert talks with one of the wealthiest families in Kuwait, with a view to the sale of the club. The Al-Kharafi family has a collective wealth put at around £8bn, with the most significant member involved in the prospective purchase of Liverpool understood to be Rafed Al-Kharafi, nephew of patriarch Nasser, who was linked with the potential purchase of Newcastle United last year. Though it had been thought that Liverpool's current American owners, Tom Hicks and George Gillett, who have been seeking a new owner for months now, may have settled on a figure of £350m the total sum of the club's debt it is understood that they may secure £500m for a sale from the Kuwaitis. Two of Hicks' key allies at the club, finance director Philip Nash and commercial director Ian Ayre, have been in Kuwait this week, ostensibly seeking finance for the stalled development of the club's new stadium and though it is as yet unclear whether the two very much in the Hicks camp have yet had direct discussions with the Al-Kharafis, the events of the week point to a move towards a sale. One possibly outcome is that that the Al-Kharafis might buy out the 50 per cent share of Hicks' co-owner George Gillett, comfortably the less well off of the two owners and deeply frustrated by the current struggle to settle manager Rafael Benitez's contract issue. The money the Al-Kharafis could bring made from the family's construction, engineering and telecommunications businesses is vitally needed, with Hicks and Gillett having conceded weeks ago that they do not have the capital to progress the new stadium project and Benitez still forced to sell players before he can buy. The prospects of a sale were looking slim with Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai, now out of the picture. But there were rumours earlier this week that financier Amanda Staveley, who had brought al-Maktoum back to the negotiating table after their initial bid to buy Liverpool was dismissed in favour of the Americans in 2007, had become actively involved again in a prospective sale. There are suggestions that Gillett has not been involved in the trip to Kuwait this week and that he and Liverpool chief executive Rick Parry, an ally, have been kept out of the tentative discussions. But Gillett is the more likely to sell and the Kuwaitis becoming minority shareholders is a possibility. Though Liverpool's current £350m bank facility was extended for six months earlier this year, there are doubts as to whether it will continue beyond then with the two banks, Royal Bank of Scotland and Wachovia, both severely by the global financial crisis. A £500m deal, to include taking on the club's debt, was all but agreed by one mystery buyer in the autumn but with a deal seemingly minutes away from signing, it went up in smoke for reasons which have never become clear. It now appears that the prospective buyers on that occasion were the Al Kharafis. Liverpool are about 400 million in debt and they still haven't bought a stadium. oh dear. How come they haven;t gone into administration instead of buying Torres, Kuyt and Keane ? They have been getting it wrong all these years. If Liverpool don't get bought out they could be in the shit further down the line though. Who would have thought Chelsea would be cutting back on their spending a year ago? Link to post Share on other sites More sharing options...
LooneyToonArmy Posted January 25, 2009 Share Posted January 25, 2009 Just NOTW ARABS PULL OUT OF TAKEOVER LIVERPOOL were reeling from a £1billion blow last night when the Kuwaiti consortium pulled OUT of negotiations to buy the club. http://www.newsoftheworld.co.uk/sport/141811/ARABS-PULL-OUT-OF-TAKEOVER.html Link to post Share on other sites More sharing options...
EthiGeordie Posted January 25, 2009 Share Posted January 25, 2009 Wish the come to the black and white army. Link to post Share on other sites More sharing options...
Cronky Posted January 25, 2009 Share Posted January 25, 2009 It just sounds like Liverpool are well and truly in the shit. £350 million in debt, no new stadium, the banks running out of patience, and other rival clubs (Man U, Chelsea, Arsenal, Man City) in a stronger position financially. It's hard to imagine, in the current financial climate, of any buyer willing to take that on. It's either going to go in the Chelsea or the Leeds direction. Chelsea were lucky to find a sugardaddy when they were on the brink, but Liverpool may have missed the boat. I think there's an unspoken assumption that Liverpool are far too big a name to go down, but anything can happen. Link to post Share on other sites More sharing options...
Doug Posted January 25, 2009 Share Posted January 25, 2009 Just NOTW ARABS PULL OUT OF TAKEOVER LIVERPOOL were reeling from a £1billion blow last night when the Kuwaiti consortium pulled OUT of negotiations to buy the club. http://www.newsoftheworld.co.uk/sport/141811/ARABS-PULL-OUT-OF-TAKEOVER.html WTF....... you mean to tell me there was no truth in the story that the scousers were being taken over by rich arabs. Well I,m frankly flabbergasted. who would have thought that the papers would have led us to believe that was happening only just a week ago without it being true.. Link to post Share on other sites More sharing options...
NE5 Posted January 25, 2009 Share Posted January 25, 2009 It just sounds like Liverpool are well and truly in the shit. £350 million in debt, no new stadium, the banks running out of patience, and other rival clubs (Man U, Chelsea, Arsenal, Man City) in a stronger position financially. It's hard to imagine, in the current financial climate, of any buyer willing to take that on. It's either going to go in the Chelsea or the Leeds direction. Chelsea were lucky to find a sugardaddy when they were on the brink, but Liverpool may have missed the boat. I think there's an unspoken assumption that Liverpool are far too big a name to go down, but anything can happen. aye, they are already booking the church for the funeral, such is their utter despondency at their predicament, they are all longing for financial stability and league positions like their rivals across Stanley Park. Link to post Share on other sites More sharing options...
Thespence Posted January 25, 2009 Share Posted January 25, 2009 If the worst came to the worst Hicks & Gillett would pay it off & they would be the creditors..They have enough dosh & by the time the £350 million is wanted the £V$ will be even more in there favour. Link to post Share on other sites More sharing options...
Mick Posted January 25, 2009 Share Posted January 25, 2009 If the worst came to the worst Hicks & Gillett would pay it off & they would be the creditors..They have enough dosh & by the time the £350 million is wanted the £V$ will be even more in there favour. Where is George Gillett going to get the money from? Link to post Share on other sites More sharing options...
Cronky Posted January 25, 2009 Share Posted January 25, 2009 If the worst came to the worst Hicks & Gillett would pay it off & they would be the creditors..They have enough dosh & by the time the £350 million is wanted the £V$ will be even more in there favour. Where is George Gillett going to get the money from? You beat me to it. If you've already got the money, why go into debt? Link to post Share on other sites More sharing options...
Thespence Posted January 25, 2009 Share Posted January 25, 2009 If the worst came to the worst Hicks & Gillett would pay it off & they would be the creditors..They have enough dosh & by the time the £350 million is wanted the £V$ will be even more in there favour. Where is George Gillett going to get the money from? I have not checked the Forbes listing to how much Gillett is worth, do you have a link? Link to post Share on other sites More sharing options...
Mick Posted January 25, 2009 Share Posted January 25, 2009 I have not checked the Forbes listing to how much Gillett is worth, do you have a link? No but I do know that he's having financial issues and his NASCAR team are costing him a fortune and having to cut costs due to a lack of cash coming in. Link to post Share on other sites More sharing options...
Syrette Posted January 25, 2009 Share Posted January 25, 2009 He's got a lot less than Hicks as far as I know. Link to post Share on other sites More sharing options...
Thespence Posted January 25, 2009 Share Posted January 25, 2009 I have not checked the Forbes listing to how much Gillett is worth, do you have a link? No but I do know that he's having financial issues and his NASCAR team are costing him a fortune and having to cut costs due to a lack of cash coming in. Most people in motorsport are fucked look at F1. His other team; Montreal Canadiens are doing well & revenues should be well up with it being there 100 years anniversary & they are currently hosting the NHL-All Star weekend which George is at. Link to post Share on other sites More sharing options...
Thespence Posted January 25, 2009 Share Posted January 25, 2009 He's got a lot less than Hicks as far as I know. He may well have but he has to find half or sell up to Hicks. Link to post Share on other sites More sharing options...
Syrette Posted January 25, 2009 Share Posted January 25, 2009 He's definitely having problems, that's where this speculation about him wanting to sell has come from. Link to post Share on other sites More sharing options...
Mick Posted January 25, 2009 Share Posted January 25, 2009 I have not checked the Forbes listing to how much Gillett is worth, do you have a link? A year ago his estimated wealth was less than what Ashley is worth now, £550 million. I don't know how far down the pecking order the Forbes Rich list goes. Link to post Share on other sites More sharing options...
Mick Posted January 25, 2009 Share Posted January 25, 2009 Most people in motorsport are f***ed look at F1. His other team; Montreal Canadiens are doing well & revenues should be well up with it being there 100 years anniversary & they are currently hosting the NHL-All Star weekend which George is at. He was at number 25 on this list over a year ago. http://www.telegraph.co.uk/finance/2954887/Most-influential-Americans-in-the-UK-30-to-21.html Link to post Share on other sites More sharing options...
Thespence Posted January 25, 2009 Share Posted January 25, 2009 There is no doubt like all rich people he will not be as rich as he was this time last year. The Liverpool mess is for him & Hickey to sort out. Link to post Share on other sites More sharing options...
Mick Posted January 25, 2009 Share Posted January 25, 2009 There is no doubt like all rich people he will not be as rich as he was this time last year. The Liverpool mess is for him & Hickey to sort out. Agreed, I don't think they'll find it easy and I'm not sure what will happen when they reach a second deadline for paying RBS what they are owed. Link to post Share on other sites More sharing options...
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