The OFFICIAL Liverpool Supporters thread

[stevo-08]

more talk about the DIC takeover (from the indo today)


American owners get Anfield takeover ball rolling

By Oliver Kay
Tuesday February 26 2008


TOM Hicks and George Gillett Jr, Liverpool's American owners, are preparing to signal the beginning of the end of their regime at Anfield by granting Dubai International Capital (DIC) permission to examine the club's accounts with a view to making an official takeover bid next month.


Hicks has consistently claimed that he has no intention of selling his 50pc stake in the club, but, while he plans to retain some of his shares and some of his influence at Anfield for the immediate future, face-to-face discussions with DIC officials in Dubai and, more significantly, London last week, have brought a deal closer.

Although a final agreement is understood to be some weeks away, with the Americans eager to maximise their profits after a turbulent 12 months in control, sources in the US have indicated that Hicks and Gillett are ready to show their willingness to sell by granting a period of due diligence to DIC.

Gillett, whose involvement with the club is now minimal, is expected to be the first to sell his 50pc stake, possibly by the middle of next month. Hicks is likely to sell only part of his stake initially, leaving DIC in majority control of the club but retaining some interest and his board place at least in the short term.

Hicks's abrasive manner means that he is regarded as the most likely obstacle to any deal being completed, but discussions are said to be progressing "sensibly and professionally", albeit slowly. Although Hicks could, in theory, buy Gillett's stake in order to strengthen his own bargaining position, that is thought to be unlikely.

For now, no price has been agreed between DIC and either of the co-chairmen. The Americans, whose initial takeover just over 12 months ago was valued at £218.9m, now put the club's worth at more than £400m, but £350m of that figure would be swallowed by the debts incurred as a result of their recent refinancing deal. DIC would be reluctant to meet that valuation if, as remains the case, Liverpool are in danger of missing out on qualification for next season's Champions League and the associated riches.

DIC's plans for Liverpool are not yet clear beyond its eagerness to conduct a wide-ranging review of all departments of the club, but its arrival would be greeted enthusiastically by many fans.

Welcomed by some as saviours in February last year, the Americans have attracted hostility not only by taking the club into debt -- something that they pledged they would not do -- but also by their treatment of Rafael Benitez, the manager, having held talks with Jurgen Klinsmann about replacing him. There was also the embarrassment over their grandiose designs for a new stadium, which were unveiled amid fanfare in July only to be dropped owing to spiralling costs five months later.

Tom Hicks Jr, who was invited to join his father on the board, was confronted angrily by some supporters when he visited a pub near Anfield on Saturday. He claimed yesterday that he "had several constructive conversations" during his visit and that he hoped to "follow up with them next time I am in Liverpool".

By contrast, Gillett's son, Foster, who was initially dispatched to Merseyside to liaise between Benitez and the owners, has spent the past month in Montreal, apparently with no plans to return. Benitez has attempted to build bridges with Hicks in the meantime, but now it seems that power at Anfield is about to be transferred to Dubai. (© The Times, London)

- Oliver Kay

[Minder]

I take it that is from the Times and not the "indo" ?

[stevo-08]

Taken from todays irish independent, See here:
http://www.independent.ie/sport/soccer/american-owners-get-anfield-takeover-ball-rolling-1297971.html

[AZOffaly]

I think the point is the indo reprint a lot of their material from the Times' columnists.

Here you go...

By contrast, Gillett's son, Foster, who was initially dispatched to Merseyside to liaise between Benitez and the owners, has spent the past month in Montreal, apparently with no plans to return. Benitez has attempted to build bridges with Hicks in the meantime, but now it seems that power at Anfield is about to be transferred to Dubai. (© The Times, London)

The Times' journalists are the only ones worth reading a lot of the time.

[An Fear Rua]

Where were all these protests when they first came in ? its not as if there wasnt enough evidence of what would happen just up the road , but instead they kissed ass

[stevo-08]

ah ok, i missed that point. 

would never read the indo myself but someone at work had the paper and i just spotted the article. anyway, just looked at the times online and exact same article there too...

[AZOffaly]

In fairness AFR, they came in and said they were not following the Glazier model. Of course they turned around and did exactly that, but the most you could say is that the Liverpool fans were desperate for an infusion of money to the club, and totally naive. Then Hicks and Gillete did a complete second hand carsalesmans job on selling themselves, and it was music to our ears.

There is always the danger when you are desperate for a quick fix that you get stung, and that's what seems to have happened here. DIC seem to be much more cautious, which will be unpopular initially, but probably long term is far more stable.

[An Fear Rua]

In fairness AFR, they came in and said they were not following the Glazier model.

No they didnt, they came in and said that they wouldnt do what the glazers were doing wrt avoiding talking to the fans, They freely admitted that they were doing exactly what the glazers were doing money wise and that exactly the same model was used  to buy weetabix. 
Funny I didnt see many stars and stripes at anfield this year...

[AZOffaly]

Initially they said they would not use the club to secure debt for the new stadium. They stuck to that line for a long time.

[An Fear Rua]

Initially they said they would not use the club to secure debt for the new stadium. They stuck to that line for a long time.

And they also said that they were using the fans money to buy the club for them!!
The guy was practically bragging about a couple of months in.

http://football.guardian.co.uk/championsleague200607/story/0,,2085147,00.html

[AZOffaly]

Sorry? I don't understand that?

[Minder]

An Fear Rua.....Where are all the protests and burning of season tickets outside Salford Stadium, or does success make people forget?

[An Fear Rua]

dont understand what?
debt for a new stadium, is one piece of the club and the business model.


At the end of the day they borrowed a load of money, told everyone that they did it and that the punters would be paying back their loan for them, and everyone cheered.

[An Fear Rua]

An Fear Rua.....Where are all the protests and burning of season tickets outside Salford Stadium, or does success make people forget?

come back when your ready to join in

[AZOffaly]

dont understand what?
debt for a new stadium, is one piece of the club and the business model.


At the end of the day they borrowed a load of money, told everyone that they did it and that the punters would be paying back their loan for them, and everyone cheered.

You added in the link after I said I didn't understand. He made those comments in May, after they had taken over. I don't think anyone cheered then. That was the beginnings of the grumbling.