Liam Liam Liam O Posted October 14, 2010 Share Posted October 14, 2010 Just been watching those people being rescued on the news. It's so nice to see a glimmer of hope in their eyes and a smile on their mucky faces. But I still hope Everton beat them on Sunday. I go and get my coat Borrowed that. Link to post Share on other sites More sharing options...
Cronky Posted October 14, 2010 Share Posted October 14, 2010 There was a story earlier (I think on the BBC) that the Board had asked NESV to indemnify them against being sued by H & G, for negligence in selling for under the market price. NESV had apparently agreed to this to get things moving. This has always struck me as the weak point of the Board's actions - yes, they have the right to make the decision, and H & G do not have the power to remove any of them from the Board. But some kind of civil suit for damages is a different matter, and it looks like this Texas legal action - while it has not been able to over-rule the High Court - may have actually been designed to put the shits up Broughton and co. If H & G do have a case and NESV end up picking up the tab, that may well have a knock-on effect further down the line on their ability to finance transfers or a stadium development. I don't think it's over yet. Link to post Share on other sites More sharing options...
Guest gggg Posted October 14, 2010 Share Posted October 14, 2010 Why do people keep saying they've been sold under the market price? They were on sale for six months and had 130 offers, in the end by the deadline they had two serious offers for the same price, paying off the debt and nothing more. So that IS the market price. The only person who thinks they've been undervalued is Hicks because he isn't getting a penny, and is trying to use a magazine valuation as evidence!? but something is only worth what people are prepared to pay for it. Nobody has gone near his valuation, why would they if it's only going in his pockets and not on assets? Link to post Share on other sites More sharing options...
madras Posted October 14, 2010 Share Posted October 14, 2010 it gives me a giggly though that the owners can have it sold from underneath them. Link to post Share on other sites More sharing options...
Cronky Posted October 14, 2010 Share Posted October 14, 2010 Why do people keep saying they've been sold under the market price? They were on sale for six months and had 130 offers, in the end by the deadline they had two serious offers for the same price, paying off the debt and nothing more. So that IS the market price. The only person who thinks they've been undervalued is Hicks because he isn't getting a penny, and is trying to use a magazine valuation as evidence!? but something is only worth what people are prepared to pay for it. Nobody has gone near his valuation, why would they if it's only going in his pockets and not on assets? I think it's more complex than that. My reading of it is that H and G had their valuation and were hoping to re-finance the club according to a valuation that would have allowed them to clear the RBS debt but still remain in control. The Board and RBS didn't want that, and felt they had the authority to sell the club at a price that would allow the RBS debt to be cleared, but otherwise leave the club debt-free. Obviously the H and G proposal would simply mean transferring the debt from one lender to another. Even if the club didn't go down the re-financing route, there would probably have been buyers who would have gone over the £300m, even if they weren't prepared to meet H and G's price. However, at that stage, there wouldn't have been much point in making a bid until RBS had taken over and the club was in administration. Then, the club could have been sold at a lower price than if the auction had taken place before administration. However, the final price could still have been way over £300m. So there was deadlock. RBS and the Board didn't want to go into administration, and had nothing to gain themselves by obtaining a price over £300m. H and G either wanted to re-finance, or get an auction started after administration. That, I think, is H and G's case that the club was under-sold and that they should be compensated. Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted October 15, 2010 Share Posted October 15, 2010 Hicks is trying to do a deal with Mill Financial to pay off RBS and retain the club. Link to post Share on other sites More sharing options...
NG32 Posted October 15, 2010 Share Posted October 15, 2010 Hicks is trying to do a deal with Mill Financial to pay off RBS and retain the club. Nice ! Last minute deals are gonner be great ! Link to post Share on other sites More sharing options...
Parky Posted October 15, 2010 Share Posted October 15, 2010 Hicks is trying to do a deal with Mill Financial to pay off RBS and retain the club. Go Hicks!! Going to give myself another goal. Link to post Share on other sites More sharing options...
Parky Posted October 15, 2010 Share Posted October 15, 2010 Hicks has asked Obama to assemble a task force. Navy seals seen in the Mersey Link to post Share on other sites More sharing options...
UV Posted October 15, 2010 Share Posted October 15, 2010 Liverpool 3 - 0 Hicks & Gillett HT NESV Goal 1' High Court Goal 39', 44' A comeback from this situation would be impossible. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted October 15, 2010 Share Posted October 15, 2010 Liverpool 3 - 0 Hicks & Gillett HT NESV Goal 1' High Court Goal 39', 44' A comeback from this situation would be impossible. They're introducing a late substitute though, don't count them out yet! Link to post Share on other sites More sharing options...
Optimistic Nut Posted October 15, 2010 Share Posted October 15, 2010 I'm guessing if the takeover isn't complete today, RBS will still have to have their £250m paid today? Link to post Share on other sites More sharing options...
Guest Roger Kint Posted October 15, 2010 Share Posted October 15, 2010 I'm guessing if the takeover isn't complete today, RBS will still have to have their £250m paid today? What was said this morning on SSN. Wonder how the league will dodge slapping the points penalty on then....... Link to post Share on other sites More sharing options...
NG32 Posted October 15, 2010 Share Posted October 15, 2010 I'm guessing if the takeover isn't complete today, RBS will still have to have their £250m paid today? What was said this morning on SSN. Wonder how the league will dodge slapping the points penalty on then....... They'll just extend the timescale for them to sort things out. It should be set that as soon as you fail to make payment or whatever its an automatic deduction. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted October 15, 2010 Share Posted October 15, 2010 I'm guessing if the takeover isn't complete today, RBS will still have to have their £250m paid today? What was said this morning on SSN. Wonder how the league will dodge slapping the points penalty on then....... They'll just extend the timescale for them to sort things out. It should be set that as soon as you fail to make payment or whatever its an automatic deduction. Totally agree. The reaction from Pompey will be interesting like if an exception is made. Link to post Share on other sites More sharing options...
Optimistic Nut Posted October 15, 2010 Share Posted October 15, 2010 Surely there'd be hell on if RBS extended it given the "current climate" based on a sale that may or still may not go through? Otherwise everyday customers could argue, "I'm just waiting to sell this item on ebay then I can pay off my overdraft, please don't charge me". Link to post Share on other sites More sharing options...
Parky Posted October 15, 2010 Share Posted October 15, 2010 Beeb: Texan court hi jinx continues.... Liverpool co-owner Tom Hicks is attempting to hijack the sale of the club by offloading his stake in the Reds to US hedge fund Mill Financial. The club were hopeful of ending the ownership saga on Friday by selling to North England Sports Ventures (NESV). Hicks believes he can scupper those plans by selling to Mill, which assumed control of American businessman George Gillett's 50% stake in August. It would then pay off the £237m debt owed to Royal Bank of Scotland (RBS). NESV's £300m deal is being held up by restraining order issued by a court in Texas, which is set to resume its hearing at 1300 BST. BBC Sports editor David Bond said: "They are still bound by the restraining order which hasn't been lifted because the Dallas court inexplicably adjourned overnight. "The feeling is that this was done to buy Hicks time to get a deal with Mill Financial done and potentially transfer the [debt] this morning, which leaves NESV in a difficult position because if the RBS debt is paid off a lot of pressure to sell to John Henry goes off." But on Friday, NESV owner Henry said on his Twitter feed: "We have a binding contract. Will fight Mill Hicks Gillett attempt to keep club today. Their last desperate attempt to entrench their regime." More to follow. Link to post Share on other sites More sharing options...
NG32 Posted October 15, 2010 Share Posted October 15, 2010 The longer this drags on the better! They wont be able to move forward at all. Link to post Share on other sites More sharing options...
Parky Posted October 15, 2010 Share Posted October 15, 2010 The longer this drags on the better! They wont be able to move forward at all. I'll give Hicks this, he's no pushover. All this lark with a Texan court is hilarious and shows him for the Machiavelli character he is. If he and Mill financial can broker a deal today, we're back to square one. Link to post Share on other sites More sharing options...
NG32 Posted October 15, 2010 Share Posted October 15, 2010 The longer this drags on the better! They wont be able to move forward at all. I'll give Hicks this, he's no pushover. All this lark with a Texan court is hilarious and shows him for the Machiavelli character he is. If he and Mill financial can broker a deal today, we're back to square one. Parky hits the cross bar! Link to post Share on other sites More sharing options...
Dokko Posted October 15, 2010 Share Posted October 15, 2010 Block lifted according to sky nooz. Link to post Share on other sites More sharing options...
clintdempsey Posted October 15, 2010 Share Posted October 15, 2010 Which should mean that H+G has struck a deal with Mill. Surely they wouldn't cave in already? Link to post Share on other sites More sharing options...
NG32 Posted October 15, 2010 Share Posted October 15, 2010 So whats happening? Link to post Share on other sites More sharing options...
clintdempsey Posted October 15, 2010 Share Posted October 15, 2010 Apparently the word on Twitter is that a deal has been struck between H+G and Mill. Which would mean that Mill would pay off the debt to RBS and we're back to square one. Link to post Share on other sites More sharing options...
Dokko Posted October 15, 2010 Share Posted October 15, 2010 Apparently the word on Twitter is that a deal has been struck between H+G and Mill. Which would mean that Mill would pay off the debt to RBS and we're back to square one. Fuk off!!! That would br epic lolz Link to post Share on other sites More sharing options...
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