Barclays Premier League Season 2010/2011

[Subject Delta]

Tom Hicks has vowed to fight the ?300m sale of Liverpool in the High Court.

The Reds board agreed the deal with New England Sports Ventures but co-owners Hicks and George Gillett claim to have sacked two directors to halt the sale. However, chairman Martin Broughton has stated that the American duo do not have the power to change the board. Both parties are now set for a legal dispute after Hicks told BBC Radio 5 live's Brian Alexander he intended to pursue the matter through the courts. The Liverpool board consisting of Broughton, managing director Christian Purslow and commercial director Ian Ayre outvoted Hicks and Gillett in agreeing the sale.

Full Story: BBC News

[rajputwarrior]

Tom Hicks has vowed to fight the ?300m sale of Liverpool in the High Court.

Full Story: BBC News

would they just **** off already....

[fenham]

would they just **** off already....

not a 'Pool supporter but I don't like this. Still it could be worse you could have our owner - Mike Ashley

I still don't understand why Hodgson got the job - never a big club manager, no proven success with a big club but has done well with little clubs with limited funding. Thought Liverpool could have done better

;)

[Subject Delta]

Liverpool are likely to face a nine-point deduction if parent company Kop Holdings goes into administration.

League rules say a deduction can be applied if a parent company insolvency is caused by the club's management. Sources suggest owners Tom Hicks and George Gillett would struggle to argue that the running of the football club has not affected the holding company. Liverpool could enter administration if a sale to the owners of the Boston Red Sox is not completed by 15 October.

Full Story

Seriously, why can't they just do the right thing for the club and f*** off

[Rappy Veteran]

doesn't get much better for Liverpool fans :unsure:

[Subject Delta]

Nope. Seems hicks is intent to destroy the club in his last desperate attempts to hold onto power. The only thing we can hope is that RBS can do the decent thing and hold back their deadline until the legal matters are resolved.

[WelshBluebird]

Re the holding company thing. It was the same with Southampton wasn't it?

It was the holding company who went into admin, not the actual Football club. They tried to fight the points deduction on that grounds, but failed.

I still can't see Liverpool going into admin though. Either Hicks will give up, or RBS will be a bit leniant.

[Rappy Veteran]

Re the holding company thing. It was the same with Southampton wasn't it?

It was the holding company who went into admin, not the actual Football club. They tried to fight the points deduction on that grounds, but failed.

I still can't see Liverpool going into admin though. Either Hicks will give up, or RBS will be a bit leniant.

I think RBS will be lenient but Hicks won't give up he wants his money.

[Subject Delta]

I think that RBS know that as long as this legal battle rages, they are unlikely to have the debt met anyway, and it would be better for them in my opinion to wait on the outcome of the legal wrangling before acting.

[Rappy Veteran]

If only real life debt collectors were so nice :p :(

[Kostaz]

Deduction will never happen,the Premier League won't risk losing a club with Liverpool's fanbase

[rajputwarrior]

not a 'Pool supporter but I don't like this. Still it could be worse you could have our owner - Mike Ashley

I still don't understand why Hodgson got the job - never a big club manager, no proven success with a big club but has done well with little clubs with limited funding. Thought Liverpool could have done better

;)

that's what we are now...

doesn't get much better for Liverpool fans :unsure:

just relegate us now

[Subject Delta]

With a club like Fulham, if you start from nothing and do a great job, you get noticed. With a club like Liverpool mediocrity is not good enough, which is why Roy has a very hard job ahead of him even if we resolve our financial issues.

[rajputwarrior]

Premier League approves Liverpool takeover

well that's good, but hicks and gillette are still going to attemp to cockblock the deal..

Man Utd reports record loss despite revenue rise

132 million loss... no one is making money

[Subject Delta]

Well at least NESV's bid has been ratified, which means if the legal wrangling comes down against Hicks, and in favour of the board then the sale can proceed.

[Rappy Veteran]

The bidding contest for Liverpool FC may not be over, the BBC can reveal.

The runner-up in the contest, Peter Lim, a Singapore billionaire, is to approach Liverpool's board with a view to making a higher offer for the club.

According to sources close to Mr Lim, he was the club's preferred bidder in the closing stages of the auction.

He had talks with Liverpool's chairman about how to announce his takeover, such was the apparent confidence that he would win the contest.

Mr Lim learned he was not the victor only a few hours before the club's chairman, Martin Broughton, announced on 6 October that Liverpool would be sold to John Henry's New England Sport Ventures for ?300m.

Mr Lim, who is being advised by the British firm of lawyers Macfarlanes and by the Wong Partnership of Singapore, still does not know why Mr Broughton went with New England Sports Ventures, owners of the Boston Red Sox.

He believes that in purely monetary terms, his offer was at least as attractive as Mr Henry's.

Mr Lim, too, was offering to repay all of Royal Bank of Scotland's and Wachovia's ?200m of long-term debt, to take on ?60m of other debt and to inject ?40m of working capital.

What's more - and Mr Lim regards this as crucial - all the money being provided by him would come from his own cash resources. He is not planning to borrow any of it.

I understand he is also offering to provide tens of millions of pounds to Liverpool's manager, Roy Hodgson, to allow him to buy players when the transfer window opens in January.

According to executives close to Mr Lim, he was told by Mr Broughton that his ability to fund the takeover for cash, and the size of his cash resources, meant he was a more attractive owner than New England Sports Ventures.

Mr Lim was told that Liverpool's board was concerned that New England Sports Ventures would have to borrow to finance the takeover - raising questions about whether Liverpool really would break free from the financial shackles perceived to have been imposed by the current owners, George Gillett and Tom Hicks.

In the event, New England Sports Ventures have insisted it will not load up Liverpool FC with debt.

But there are no guarantees that there will not be significant debt further up the corporate ownership structure of New England Sports Ventures - which could limit how much money Mr Henry and his colleagues can inject into Liverpool in the future.

Mr Lim is keeping a close eye on the court case, which starts on Tuesday.

The case is supposed to rule on whether Mr Broughton can sell Liverpool to New England Sports Ventures against the wishes of Mr Hicks and Mr Gillett.

The Singapore billionaire believes the judgement in that case may give him an opportunity to bid again, whatever Mr Broughton may wish.

[rajputwarrior]

i just smacked blackpool 5-0 in fifa...

sorry it makes me feel better :(

[Subject Delta]

Hmm

This situation is certainly getting interesting, I am not even sure which offer I prefer, although Peter Lim's offer comes with a promise of money for players which is hard to overlook given our current situation

[Rappy Veteran]

you can follow the court drama on Twitter :)

[WelshBluebird]

How the hell can they say the case should be heard next week, when, unless RBS shifts its position, money needs to be there in 3 days.

[rajputwarrior]

How the hell can they say the case should be heard next week, when, unless RBS shifts its position, money needs to be there in 3 days.

oh i'm sorry, you expected all this drama to make sense?

[WelshBluebird]

oh i'm sorry, you expected all this drama to make sense?

lol, not really. But I don't see the benefit to anyone (apart from any new owner) of Liverpool going into administration (which is what will happen if no new money comes in to pay RBS).

[rajputwarrior]

lol, not really. But I don't see the benefit to anyone (apart from any new owner) of Liverpool going into administration (which is what will happen if no new money comes in to pay RBS).

all i want is the original yanks out, then from there we can figure out this cluster ****....

[Rappy Veteran]

"seems lfc have until nov 1 to do deal with nesv - if rbs decide not to put club into admin'ion - judge says resolution this week "ambitious""

10:30am tomorrow for judgement!

[rajputwarrior]

"seems lfc have until nov 1 to do deal with nesv - if rbs decide not to put club into admin'ion - judge says resolution this week "ambitious""

10:30am tomorrow for judgement!

all this is doing is embarrassing the club and the league with all this BS drama...