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-   -   Football Season 2010/2011 (https://www.cableforum.uk/board/showthread.php?t=33667905)

yesman 04-10-2010 20:46
Re: Football Season 2010/2011
 
Quote:
Originally Posted by punky (Post 35102929)
Roy Hodson isn't a bad manager.

He took a weak Fulham team from relagation material to the UEFA Cup Final.
He was the man everyone thought should have one Manager Of The Year instead of Redknapp.
He was on the cusp of taking the biggest job in England
He was the fans' choice.

You don't go from all that to useless in 6 games. The fans are notoriously fickle but even so they are taking the biscuit here. There are 6 points (that's 2 wins) between 4th and bottom of the league. And Liverpool have played Arsenal, Citeh and Man Utd in those 6 games.

Get a grip!

Liverpool needs to stop assuming they should be top 4 and start playing like they should be.
Spot on, people expect instant success.
Remember Fergie in 1986 anyone ? Almost sacked for a run of bad results, the rest is history.

Uncle Peter 05-10-2010 01:37
Re: Football Season 2010/2011
 
Quote:
Originally Posted by yesman (Post 35103493)
Spot on, people expect instant success.
Remember Fergie in 1986 anyone ? Almost sacked for a run of bad results, the rest is history.
Some people do expect instant success which of course isn't the right attitude, however:

there are also some people who expect their new manager to conduct himself in a dignified and respectful fashion not only in the way that he treats the players and fans of his new club (in his willingness to blab to his media pals) but also that he at least ensures that there a semblence of competence reflected in the way he organises the players at his disposal regardless of the result...

unfortunately Roy has thus far failed on all of the above counts: blame the players then backtrack, insult the fans who are protesting against the owners then backtrack etc etc, list goes on. Seeing as he's so loved by his LMA chums and mates in the BBC/Sky perhaps he's better off somewhere where he's wanted, God forbid England fans, he could be the successor to Capello!

I hope that certain people and most of all the board at LFC who have no footballing knowledge who were behind the sacking of Rafael Benitez are now satisfied with what they've done.

(Don't mean to sound harsh on Roy the man outside football, he seems like a decent bloke but the poor guy looks like a broken man already and for the sake of his health I hope he does the right thing)

Russ 05-10-2010 23:15
Re: Football Season 2010/2011
 
http://beta.news.sky.com/skynews/Hom...ing_Two_Offers

So for all the Liverpool fans who goaded United supporters when the owner of an American football team took over......

Maybe a re-name to "The Liverpool Redsox" is on the cards...? :)

wwe 05-10-2010 23:18
Re: Football Season 2010/2011
 
what are u joking about re-naming it?

Uncle Peter 05-10-2010 23:25
Re: Football Season 2010/2011
 
Interesting how this news comes out at the same time as Mike Jefferies viral anti-Tom Hicks video. Smokescreen? I wonder who's feeding Dan Roan/BBC

wwe 05-10-2010 23:34
Re: Football Season 2010/2011
 
Liverpool Football Club tonight issued the following press statement: The Board of Directors have received two excellent financial offers to buy the Club that would repay all its long-term debt. A Board meeting was called today to review these bids and approve a sale. Shortly prior to the meeting, the owners - Tom Hicks and George Gillett - sought to remove Managing Director Christian Purslow and Commercial Director Ian Ayre from the Board, seeking to replace them with Mack Hicks and Lori Kay McCutheon

Uncle Peter 05-10-2010 23:41
Re: Football Season 2010/2011
 
Quote:
Originally Posted by wwe (Post 35104182)
Liverpool Football Club tonight issued the following press statement: The Board of Directors have received two excellent financial offers to buy the Club that would repay all its long-term debt. A Board meeting was called today to review these bids and approve a sale. Shortly prior to the meeting, the owners - Tom Hicks and George Gillett - sought to remove Managing Director Christian Purslow and Commercial Director Ian Ayre from the Board, seeking to replace them with Mack Hicks and Lori Kay McCutheon
http://www.liverpoolfc.tv/news/lates...fc-statement-3

gloves off, more lawyers to fatten up

Uncle Peter 06-10-2010 11:04
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35104188)
http://www.liverpoolfc.tv/news/lates...fc-statement-3

gloves off, more lawyers to fatten up
and the winning bid is: New England Sports Ventures

John W Henry (respected hedge fund magnate), Tom Werner (Cosby Show) and Les Otten (NY Times).

when the lawyers have finished at the trough that is.

(sorry should have edited my own post, it's been a long week already)

Damien 06-10-2010 11:08
Re: Football Season 2010/2011
 
Looks like it's going to be a fun day. Lots of confusion going on over the bid with three of the board approving the sale but it is unknown if they can actually do so without the American owners, who look set to challenge it.

sherer 06-10-2010 12:48
Re: Football Season 2010/2011
 
still not sure why these Americans want to own the club. With a hedge fund magnate it seems they are replacing bad with bad and sounds like he is just after making money.

Russ 06-10-2010 13:28
Re: Football Season 2010/2011
 
.....which sums up all the foreign 'sugar daddies' who have appeared in the game over the last 10 years.

Damien 06-10-2010 13:36
Re: Football Season 2010/2011
 
Quote:
Originally Posted by sherer (Post 35104425)
still not sure why these Americans want to own the club. With a hedge fund magnate it seems they are replacing bad with bad and sounds like he is just after making money.
His reputation with other teams is positive though.

Uncle Peter 06-10-2010 14:16
Re: Football Season 2010/2011
 
Court case is scheduled for next week to determine whether or not the board acted in a proper manner. Having said that Hicks and Gillet signed articles stating that they would not interfere in the sale process and that Broughton has the final say so they really don't have a leg to stand on. To suggest that the purported £300M undervalues the club at this stage is ludicrous! even £200M is pushing it.

sherer 06-10-2010 15:49
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35104457)
His reputation with other teams is positive though.
this guy does seem better than most actually, just read a bit more info on him. Seems he is interested in sports and so likes to own sports teams as a hobby.

Wish the PL rules would ban people who are just owning clubs to make a profit

Chris 06-10-2010 15:56
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Russ (Post 35104451)
.....which sums up all the foreign 'sugar daddies' who have appeared in the game over the last 10 years.
... which in turn are a symptom of the massive financial bubble the English Premier League exists in. It is ultimately unsustainable but for the time being there are still enough idiots prepared to shovel money down the pit to keep it going.

I can see this running on until RBS forces the club into insolvency. The Redsox will then get it, but not before the Premiership docks 9 points off Liverpool's already measly total. Somehow I doubt even this will do much to halt the money-go-round.

Uncle Peter 06-10-2010 16:20
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Chris (Post 35104508)
... which in turn are a symptom of the massive financial bubble the English Premier League exists in. It is ultimately unsustainable but for the time being there are still enough idiots prepared to shovel money down the pit to keep it going.

I can see this running on until RBS forces the club into insolvency. The Redsox will then get it, but not before the Premiership docks 9 points off Liverpool's already measly total. Somehow I doubt even this will do much to halt the money-go-round.
It's looking unlikely that administration is anything other than the bank's trump card at this stage. To quote Martin Broughton earlier today when asked about Tom Hicks attempt to replace two of the non owner board members in favour of the sale:

"We don't think it was valid to do it. Essentially when I took the role they gave a couple of written undertakings to Royal Bank of Scotland. Those written undertakings included that I was the only person entitled to change the board and that was written into the articles of the covenants, and also that they would take no action to frustrate any reasonable sale. And I think they flagrantly abused both of those written undertakings."

http://www.liverpoolfc.tv/news/lates...n-takeover-q-a

Even if, by some unimaginable reason the judgement went against the board, by this stage RBS would be within their rights to force Kop Holdings (the club's holding entity and debtor in question) into administration.

Following some of the journo twitters this morning it seems that there are noises coming from the Premier League that they won't apply the 9 point penalty because the club is still a solvent, trading entity. I expect this little snippet of information has been circulated to put the frighteners on the two parasites, ie: they have no options left. They're surrounded now and the snipers are on the roof but the war isn't over yet.

Julian 06-10-2010 17:14
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Chris (Post 35104508)
... which in turn are a symptom of the massive financial bubble the English Premier League exists in. It is ultimately unsustainable but for the time being there are still enough idiots prepared to shovel money down the pit to keep it going.
I can see this running on until RBS forces the club into insolvency. The Redsox will then get it, but not before the Premiership docks 9 points off Liverpool's already measly total. Somehow I doubt even this will do much to halt the money-go-round.
I'm waiting for the result of the court action being taken by the landlady in THIS ARTICLE.

Success for her would be fantastic and would stick one up the premier league and sky.

I wonder why there hasn't been more publicity about it...;)

sherer 06-10-2010 17:30
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Julian (Post 35104537)
I'm waiting for the result of the court action being taken by the landlady in THIS ARTICLE.

Success for her would be fantastic and would stick one up the premier league and sky.

I wonder why there hasn't been more publicity about it...;)
don't forget a lot of papers, the red tops mainly, are owned by News Copr which is Sky so why would they report on this.

TheDaddy 06-10-2010 17:50
Re: Football Season 2010/2011
 
Hicks and Gillett are understood to have argued that the club's English directors were not acting in the best interests of Liverpool

:rofl:

---------- Post added at 16:50 ---------- Previous post was at 16:40 ----------

Quote:
Originally Posted by TheDaddy (Post 35075094)
I liked this post from another site, given the current wave of doom sweeping over the club just one game in

10 reasons why we will be relegated if we lose to Bolton.

(1) The last time we lost our opening two games (2000-01) we were relegated (well, OK, we weren't, but I don't see why facts should get in the way of a good point, well made.)

(2) No team with 0 points after 2 games has gone on to avoid relegation.

Except Bolton, Blackburn and Everton last year

Spurs, Wigan and Pompey in 2008-9

Spurs, Boro and Bolton in 2007-8

Wigan and Pompey in 2005-6

Again, mere facts, and in no way relevant.

(3) The transfer window will be closed and we won't be able to make any more signings. (OK, OK, so there'll still be 10 days to go, but no one will be making any signings that close to the end of the transfer window...)

(4) Our new signings have turned out to be flops. Barrera, who ought to be match fit and used to the pace of the Prem after a couple of half matches and a brief run out looked anything but ready, and there's very little chance he will improve as he gets more match time. And as for that Hitzlsperger, well he may as well have been out injured for all the difference he made...

(5) Bolton are not in any way, shape or form one of our bogey sides, and the fact that they have managed to beat us 6 games in a row means that we're obviously better than them and 'should be beating sides like this'.

(6) In the seasons when we have lost to Bolton at the Boleyn we have been reelgated (again, not true, but I'm sure you get the picture...)

(7) No other team in the PL will have made such a poor start, and all the other teams in the PL will go on to amass 50 points or more, leaving us with about 6.

(8) With only 36 games left, we would have absolutely no hope of making up ground on those teams so far ahead of us.

(9) Gollivan will sack Grant if we lose, and The Scottish manager will be given the job, with Ian Dowie and Glen Roeder as his assistants.

(10) We have never previously made a bad start to a PL season and then gone on to avoid relegation (apart from when we have, obviously.)

Now, I know some of you optimistic types will try to argue me out of it, but I know I am right, and I know that King WHUFC will back me up on this.

Saturday is our season defining game.

Lose it, and we may as well say goodbye to the PL.

You know I'm talking (non) sense...

Follow up post

1) We are bottom of the table. So it's obvious.

2) With only 31 games to go we are now 1 point away from safety, but with our poor GD that is effectively 2. There's no way we can make that up in the time available.

3) We are three points worse off than the 10th placed team - which just goes to show what a poor team we are, and how off the pace we are.

4) We are showing terrible form. We have dropped 4 out of 9 points in our last three games.

5) We have conceded a goal in two of our last three games, which shows how poor our defence is.

6) We can't even beat Fulham, a team 4 points ahead of us who are unbeaten this season. What hope is there?

7) No team who has been bottom going into the 2nd Interantional break has avoided relegation. (Well, OK, some have, but we won't.)

8) Grant's obsession with signing former Pompey players is really hurting us. OK, so we haven't signed Ben Haim, and he is only back up, but that Piquionne - I mean, what's the point? He's only managed THREE goals in our last 4 games. We should have signed Sandra Redknapp. And as for the rest of them - well, all right so there aren't any, but that's not the point...

9) There is no team spirit or desire, and no one is playing for the shirt. We saw with that limp display against Spurs, and the way they gave up after going down a goal agaisnt Fulham that they are a bunch of quitters. A mate of mine saw Grant wandering around the BML stand at half-time on Saturday, and asked him where he was going. Grant said he'd lost the dressing room

10) We haven't been reduced to using Johnny 'where am I?' Spector since the Man Utd game (EDIT (c) Hammertime32) - which shows how poor our side must be.

Not quite as good but still worth posting

-----------------------------------------------------------------------------------------------------------------------------

Not so clever Trevor

Steve McClaren could manage the England national team again, according to the Football Association's director of football development Trevor Brooking

http://news.bbc.co.uk/sport1/hi/football/9066019.stm


Finally, I've just seen the Liverpool players outside my house playing football with a hedgehog, I was disgusted and just as I picked the phone up to ring the RSPCA the hedgehog went one nil up..... :D

Niles Crane 06-10-2010 19:25
Re: Football Season 2010/2011
 
On a lighter note, this Hertha Berlin player is obviously pretty desperate to get his hands on a cup this season:

https://www.cableforum.co.uk/images/...2010/10/48.jpg

Damien 06-10-2010 22:33
Re: Football Season 2010/2011
 
Quote:
Originally Posted by TheDaddy (Post 35104556)
Not so clever Trevor

Steve McClaren could manage the England national team again, according to the Football Association's director of football development Trevor Brooking

http://news.bbc.co.uk/sport1/hi/football/9066019.stm
Not sure it's that absurd. He continues to do well abroad, like he did here before he become manager of the national team. It's won't happen of course, he knows better than to be England manager again and then their is his previous record, which although poor often overlooked the difficultly of the group. Besides, as the press often point out, This is a guy who uses an umbrella in the rain what kind of prat does that?

sherer 07-10-2010 00:04
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35104822)
Not sure it's that absurd. He continues to do well abroad, like he did here before he become manager of the national team. It's won't happen of course, he knows better than to be England manager again and then their is his previous record, which although poor often overlooked the difficultly of the group. Besides, as the press often point out, This is a guy who uses an umbrella in the rain what kind of prat does that?
The tabloids have blown this out of all proportion. I think Sir Trevor was asked if he could manage the team again and he said he is continues to do well he wouldn't be excluded

TheDaddy 07-10-2010 02:28
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35104822)
Not sure it's that absurd. He continues to do well abroad, like he did here before he become manager of the national team. It's won't happen of course, he knows better than to be England manager again and then their is his previous record, which although poor often overlooked the difficultly of the group. Besides, as the press often point out, This is a guy who uses an umbrella in the rain what kind of prat does that?
Yes what kind of prat indeed....

http://www.youtube.com/watch?v=2ZnoP4sUV90

TheDaddy 08-10-2010 13:49
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35104520)
It's looking unlikely that administration is anything other than the bank's trump card at this stage. To quote Martin Broughton earlier today when asked about Tom Hicks attempt to replace two of the non owner board members in favour of the sale:

"We don't think it was valid to do it. Essentially when I took the role they gave a couple of written undertakings to Royal Bank of Scotland. Those written undertakings included that I was the only person entitled to change the board and that was written into the articles of the covenants, and also that they would take no action to frustrate any reasonable sale. And I think they flagrantly abused both of those written undertakings."

http://www.liverpoolfc.tv/news/lates...n-takeover-q-a

Even if, by some unimaginable reason the judgement went against the board, by this stage RBS would be within their rights to force Kop Holdings (the club's holding entity and debtor in question) into administration.

Following some of the journo twitters this morning it seems that there are noises coming from the Premier League that they won't apply the 9 point penalty because the club is still a solvent, trading entity. I expect this little snippet of information has been circulated to put the frighteners on the two parasites, ie: they have no options left. They're surrounded now and the snipers are on the roof but the war isn't over yet.
That's what I thought but now this breaks

http://news.bbc.co.uk/sport1/hi/foot...ol/9074311.stm

Also

Manchester United has reported an annual pre-tax loss of £79.6m, hit by one-off finance charges and reduced revenues from the sale of players

http://www.bbc.co.uk/news/business-11499023

yesman 10-10-2010 01:35
Re: Football Season 2010/2011
 
This is totally absurd....

Quote:
NESV's proposed £300m takeover is set to be opposed in the High Court next week by Liverpool owners Tom Hicks and George Gillett.
Their parent company Kop Holdings owe £280m to Royal Bank of Scotland (RBS) and must pay by 15 October.
If the American duo are successful in blocking the proposed sale, or if it is delayed beyond next Friday, RBS may place Kop Holdings into administration to release the money owed to them.
Because the club is the only asset of Kop Holdings, the Premier League would then be likely to deduct nine points, leaving Liverpool on -3 points and bottom of the table after a dismal start to the season.
It now appears this could dissuade NESV from concluding any sale. Broughton said on Friday he fears the club is at risk of entering administration, leaving it devalued and "wide open to predators".
This coming week will be the most important in the existance of Liverpool FC.

I hope Liverpool FC come through this for the sake of the supporters and the club.

http://news.bbc.co.uk/sport1/hi/foot...ol/9077048.stm

Uncle Peter 10-10-2010 04:04
Re: Football Season 2010/2011
 
Quote:
Originally Posted by yesman (Post 35106645)
This is totally absurd....



This coming week will be the most important in the existance of Liverpool FC.

I hope Liverpool FC come through this for the sake of the supporters and the club.

http://news.bbc.co.uk/sport1/hi/foot...ol/9077048.stm
it's the pre court case PR circus as expected. Hicks holding out until the last for a better deal and bits of info being strategically leaked to try and pressure him into backing down. Hopefully this will break him and his despicable family for good. Gillett is already finished.

punky 10-10-2010 10:54
Re: Football Season 2010/2011
 
I don't get the points deduction.

I thought it was confirmed earlier that they wouldn't get points deducted as they weren't insolvent (like West Ham didn't). Now the papers seem very sure that it's at least likely.

Damien 10-10-2010 11:14
Re: Football Season 2010/2011
 
Quote:
Originally Posted by punky (Post 35106717)
I don't get the points deduction.

I thought it was confirmed earlier that they wouldn't get points deducted as they weren't insolvent (like West Ham didn't). Now the papers seem very sure that it's at least likely.
The Football League have made similar points deductions. The crucial matter is if the holding company is irrevocably linked to the Football club and in this case they certainly are. Liverpool Football Club and Kop holdings are linked to such a degree that they won't get away with claiming the club itself is still solvent because they simply loaded the debt onto the parent company.

West Ham was solvent and crucially it was merely one asset for their parent company, which was an Icelandic bank and therefore the League decided that it would not impose the deduction. Which is fair enough because why should the club be deducted points when the parent company's administration was brought about by other businesses.

UEFA are being similarly smart with their Fair Play Rules.

Although I think this is a ruse to force the sell to happen. I think Liverpool and Manchester United are two clubs the league will never impose deductions on because regardless of their current quality and success they are big commercial names world wide.

colin25 10-10-2010 11:18
Re: Football Season 2010/2011
 
I thought it depended on whether hicks still challenges the sale, therefore RBS calls in the debt...and thus 9 point deduction could ensue.

If they sell before then, then no issue.

Damien 10-10-2010 11:20
Re: Football Season 2010/2011
 
Quote:
Originally Posted by colin25 (Post 35106727)
I thought it depended on whether hicks still challenges the sale, therefore RBS calls in the debt...and thus 9 point deduction could ensue.

If they sell before then, then no issue.
Yes

Derek 10-10-2010 11:35
Re: Football Season 2010/2011
 
If they are placed in administration and the league don't deduct the points then the cries of favouritism and possible legal action from other clubs would be very quick in coming.

Personally though I would like the club to go into administration and sold to Rupert Murdoch purely to see the reaction from the fans. :omg: :devsmoke: :shocked:

punky 10-10-2010 12:31
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35106724)
The crucial matter is if the holding company is irrevocably linked to the Football club and in this case they certainly are.
That's a standard rule though so if it applies now it would apply before.

This is the link I was talking about:

http://www.bbc.co.uk/blogs/thereport...comes_soa.html

It is mentioned numerous times by the commentators that they won't get deducted points. Now they could just be deluded scousers inventing hope to cling on to but they do seem to know what they're talking about.

I've scanned through again and can't find any direct quotes but plenty like this:

Quote:
Come on Robert, you know as well as I do their will be no nine point deduction, the EPL have said (of coarse just ignore that).
Quote:
I'm surprised that the illustrious and well respected Mr Peston hasn't availed himself of the fact that the Premier League has already confirmed that LFC will not fall foul of the 9 point deduction for a club in administration, as the club is considered to be totally solvent (as opposed to being insolvent - recognise the difference?).
etc...

colin25 10-10-2010 12:36
Re: Football Season 2010/2011
 
I heard on radio that deal might not go through if 9 point deduction happens. Doesn't sound as definite as made out

Uncle Peter 10-10-2010 13:07
Re: Football Season 2010/2011
 
Thing is though that the club's lawyers are Slaughter and May who are probably the best in the business at what they do. If they didn't think the case was nigh on water-tight I very much doubt they would be taking this to the high court. I would also strongly doubt that a man of Martin Broughton's standing would put his reputation on the line unless he was holding all of the aces. In the meantime whatever is written in the papers by crap journos like Chris Bascombe is nothing more than scaremongering.

Damien 10-10-2010 14:23
Re: Football Season 2010/2011
 
Quote:
Originally Posted by punky (Post 35106767)
That's a standard rule though so if it applies now it would apply before.

This is the link I was talking about:

http://www.bbc.co.uk/blogs/thereport...comes_soa.html

It is mentioned numerous times by the commentators that they won't get deducted points. Now they could just be deluded scousers inventing hope to cling on to but they do seem to know what they're talking about.

I've scanned through again and can't find any direct quotes but plenty like this:

etc...
Well there is a lot of confusion but the Premier League have said nothing to confirm Liverpool will not get the point deduction. It was presumed they would not due to the stituation at West Ham but as I have said, they are not in the same situation. Otherwise clubs would easily avoid administration by storing the debt in a different company.

TheDaddy 10-10-2010 16:29
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35106779)
Thing is though that the club's lawyers are Slaughter and May who are probably the best in the business at what they do. If they didn't think the case was nigh on water-tight I very much doubt they would be taking this to the high court. I would also strongly doubt that a man of Martin Broughton's standing would put his reputation on the line unless he was holding all of the aces. In the meantime whatever is written in the papers by crap journos like Chris Bascombe is nothing more than scaremongering.
A member club can't take the Premier League to court....

Liverpool co-owner Tom Hicks has fuelled fan anger against his regime by describing protests against his presence at the club as "noise we are dealing with".
Full Story: News of the World

sherer 10-10-2010 19:55
Re: Football Season 2010/2011
 
Quote:
Originally Posted by TheDaddy (Post 35106869)
A member club can't take the Premier League to court....

Liverpool co-owner Tom Hicks has fuelled fan anger against his regime by describing protests against his presence at the club as "noise we are dealing with".
Full Story: News of the World
The PL probably has rules saying clubs can't take them to court and this should be handled by CAS instead but those rules haven't got a leg to stand on. F1 has the same rule but Flavio Briatore took the FIA to court when he got banned from F1.

The league Bosman was in probably had the same rules but he still managed to get his case heard in court too. if clubs want to take the PL to court they can and will

Uncle Peter 10-10-2010 21:05
Re: Football Season 2010/2011
 
Quote:
Originally Posted by TheDaddy (Post 35106869)
A member club can't take the Premier League to court....

Liverpool co-owner Tom Hicks has fuelled fan anger against his regime by describing protests against his presence at the club as "noise we are dealing with".
Full Story: News of the World
Not sure who's taking the premier league to court?? Next week's court hearing is merely to determine whether or not Martin Broughton acted properly in resisting Tom Hicks attempts to replace two of the non-owner board members prior to agreeing the proposed sale to NESV.

TheDaddy 11-10-2010 06:36
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35107040)
Not sure who's taking the premier league to court?? Next week's court hearing is merely to determine whether or not Martin Broughton acted properly in resisting Tom Hicks attempts to replace two of the non-owner board members prior to agreeing the proposed sale to NESV.
Sorry thought you meant they were going to take the Premier League to court over the points deduction.

Uncle Peter 11-10-2010 12:01
Re: Football Season 2010/2011
 
Quote:
Originally Posted by TheDaddy (Post 35107254)
Sorry thought you meant they were going to take the Premier League to court over the points deduction.
No prob :)

Brief recap for anyone not fully aware of the background then:

LFC board consists of: Martin Broughton (Chairman), Christian Purslow (Managing Director), Ian Ayre (Commercial Directoror) and the two shareholder owners Hicks and Gillett.

On Tuesday evening Martin Broughton called a board meeting to approve one of two bids on the table for the club. Before the meeting Tom Hicks attempted to remove Ian Ayre and Christian Purslow from the board replacing them with one of his sons and a director from his main investment vehicle: Hicks Holdings. This would give him a board majority sympathetic to his aim to block the bids as he maintains they were undervalued.

Broughton rejected the move to sack Purslow and Ayre on the basis that the owners had provided written guarantees on a number of counts: that neither of the owners would do anything to disrupt a sale at a reasonable fee and that Martin Broughton would have the final say in any changes to the board structure. These guarantees were provided as a condition of RBS extending the £237M loan repayment deadline in Easter.

It follows that the the board will now seek what's called a declaratory judgement in the high court to verify that Martin Broughton had acted in a proper manner. If the judgement is passed in the chairmans favour then the sale may proceed unless Hicks chooses to appeal, however: the appeal process is very swift.

Hearing is likely to be in chambers so it won't be in the court listings. Lord Grabiner QC will represent the club.

Uncle Peter 11-10-2010 14:39
Re: Football Season 2010/2011
 
Not in chambers. Listed for court 18 tomorrow. One of 7 hearings before Justice Floyd scheduled to start at 10:30am.

TheDaddy 11-10-2010 17:43
Re: Football Season 2010/2011
 
news.yahoo.com/s/ap/20101011...

Royal Bank of Scotland says it has obtained an interim injunction preventing Liverpool co-owners Tom Hicks and George Gillett Jr. from firing chairman Martin Broughton and two other board members.

Hicks tried to remove managing director Christian Purslow and commercial director Ian Ayre from Liverpool's board last week when they sought to sanction a $476 million sale of the club to the owners of the Boston Red Sox.

RBS, which holds the bulk of Liverpool's debt, is claiming breach of contract. The bank said Monday it obtained an interim injunction before a hearing the following day at London's High Court.

Hicks and Gillett agreed to RBS' demands in April to allow Broughton to have control of the sales process.

Uncle Peter 11-10-2010 17:55
Re: Football Season 2010/2011
 
Quote:
Originally Posted by TheDaddy (Post 35107500)
news.yahoo.com/s/ap/20101011...

Royal Bank of Scotland says it has obtained an interim injunction preventing Liverpool co-owners Tom Hicks and George Gillett Jr. from firing chairman Martin Broughton and two other board members.

Hicks tried to remove managing director Christian Purslow and commercial director Ian Ayre from Liverpool's board last week when they sought to sanction a $476 million sale of the club to the owners of the Boston Red Sox.

RBS, which holds the bulk of Liverpool's debt, is claiming breach of contract. The bank said Monday it obtained an interim injunction before a hearing the following day at London's High Court.

Hicks and Gillett agreed to RBS' demands in April to allow Broughton to have control of the sales process.
Yep, after which not even sure if it would come to a declaratory judgement if the injunction is upheld tomorrow. It would be a waste of the saggy Texan's time and money pursuing his pointless defence, he might as well just walk now.

Either way it's clear now why the hearing is listed as RBS vs Hicks and others

TheDaddy 11-10-2010 18:02
Re: Football Season 2010/2011
 
Good article here liked the bit where it says Hicks and Gillett will be out of pocket by £100 million due to a personal loan they gave Kop Holdings best

colin25 11-10-2010 18:07
Re: Football Season 2010/2011
 
Quote:
Originally Posted by TheDaddy (Post 35107508)
Good article here liked the bit where it says Hicks and Gillett will be out of pocket by £100 million due to a personal loan they gave Kop Holdings best
I thought i heard somewhere, that they only put in about £7m each, and they borrowed the rest.

Uncle Peter 11-10-2010 20:00
Re: Football Season 2010/2011
 
Quote:
Originally Posted by colin25 (Post 35107510)
I thought i heard somewhere, that they only put in about £7m each, and they borrowed the rest.
Initial deal was something like that but as part of the refinancing deal at easter they each had to stump up something to the tune of £70M each as personal security against the extended finance deal. Gillett borrowed that money from a hedge fund and secured it against his shares in the club (which I find hard to believe he was allowed to do). Not sure where Hicks share came from.

Either way I think they are both getting off lightly in walking away with the £140M or so loss. I have a strong feeling RBS have another ace up their sleeve which could have very, very serious consequences for Hicks and co. if it were pursued but I am saying nowt ;)

In another twist

Liverpool to receive new bid from Singapore billionaire

reported by Peston but I believe that the story originated from spin mouthpiece Dan Roan. As usual it's "sources" who are cited which is generally journo speak for someone's made it up. If said bidder had any credibility then this would be done out of the media spotlight and some of the content of the article is bordering on ludicrous in terms of what is supposed to have been said.

colin25 11-10-2010 20:38
Re: Football Season 2010/2011
 
Singapore slings for all..that will go down well in liverpool :D

wwe 11-10-2010 20:52
Re: Football Season 2010/2011
 
which offer do you think they will take as now we got a new person trying to buy anfield

colin25 11-10-2010 21:22
Re: Football Season 2010/2011
 
Well they have tried american..they might prefer asian now, quite popular choice :D

Uncle Peter 11-10-2010 21:28
Re: Football Season 2010/2011
 
Quote:
Originally Posted by wwe (Post 35107598)
which offer do you think they will take as now we got a new person trying to buy anfield
Not a new person at all, he was one of the original two bidders. Unlikely that the guy has the experience or financial resources to manage/develop the club as an ongoing concern which is why clearly why the NESV bid was accepted. Remember that NESV have a large number of backers, their source of capital is not limited to just 2 or 3 individuals.

Pay no attention to this story it is merely spin and unwanted background noise.

Damien 11-10-2010 21:30
Re: Football Season 2010/2011
 
I can see a situation where the Liverpool fans put pressure on the board to accept the Asian bid. He has promised millions in transfer money whereas the American bids seems to be offering a more stable, but less wealthy, management.

colin25 11-10-2010 21:49
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35107622)
I can see a situation where the Liverpool fans put pressure on the board to accept the Asian bid. He has promised millions in transfer money whereas the American bids seems to be offering a more stable, but less wealthy, management.
Hmm...and then..2 years later..they find out there is no money..protests about asian owners...in come arab bidders..and the circle continues :D

---------- Post added at 20:49 ---------- Previous post was at 20:37 ----------

spotted this though, saying american bid is solid..unless hicks wins court case

http://soccernet.espn.go.com/news/st...ngland&cc=5739

Uncle Peter 11-10-2010 21:59
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35107622)
I can see a situation where the Liverpool fans put pressure on the board to accept the Asian bid. He has promised millions in transfer money whereas the American bids seems to be offering a more stable, but less wealthy, management.
Quite the opposite. If the story has any substance then Lim is in actual fact very close to being on the receiving end of the fans' wrath for spreading yet more FUD in the already fluid situation. I can only assume that the publicity will raise his public profile as he seeks other clubs in the premiership for potential acquisition. Broughton and the board wouldn't have revealed the identity of the losing bid until the dust had settled and Lim probably wants a piece of the PR action while the presses are hot.

TheDaddy 12-10-2010 07:18
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35107622)
I can see a situation where the Liverpool fans put pressure on the board to accept the Asian bid. He has promised millions in transfer money whereas the American bids seems to be offering a more stable, but less wealthy, management.
How can they put pressure on them? They have already accepted a bid and are in the process of being taken over, this is a complete non story and it wouldn't shock me to find its origin is Hicks and Gillett trying to buy more time.

---------- Post added at 06:18 ---------- Previous post was at 06:16 ----------

Quote:
Originally Posted by Uncle Peter (Post 35107645)
Quite the opposite. If the story has any substance then Lim is in actual fact very close to being on the receiving end of the fans' wrath for spreading yet more FUD in the already fluid situation.
Wait to see the wrath when this gets out

Lim, 57, ranked as the eighth-richest Singaporean with an estimated wealth of $1.6 billion (1 billion pounds) by Forbes, has exclusive rights to own and operate a chain of Manchester United-themed restaurants and bars in Asia.

http://uk.reuters.com/article/idUKTRE69B0A420101012

Damien 12-10-2010 09:54
Re: Football Season 2010/2011
 
I work near St Pauls/Bank and have seen a few people with Liverpool shirts on. They may be going to the high court, are there protests planned?

Derek 12-10-2010 10:12
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35107826)
I work near St Pauls/Bank and have seen a few people with Liverpool shirts on. They may be going to the high court, are there protests planned?
Don't these people have jobs to go to???

Oh right. Liverpool fans... ;)

Uncle Peter 12-10-2010 11:32
Re: Football Season 2010/2011
 
Quote:
Originally Posted by TheDaddy (Post 35107793)
Lim, 57, ranked as the eighth-richest Singaporean with an estimated wealth of $1.6 billion (1 billion pounds) by Forbes, has exclusive rights to own and operate a chain of Manchester United-themed restaurants and bars in Asia.

http://uk.reuters.com/article/idUKTRE69B0A420101012
With all due respect to Lim as a businessman he has no track record in the ongoing development of a major/global sports brand. Estimated wealth? well it shouldn't need to be pointed out that these figures are usually wildly optimistic especially where Forbes are concerned. I would be very surprised if he had even a third of his estimated wealth attracting moths in his wallet. PR won't have done him any harm in raising his public profile but in terms of the LFC bid he has majorly discredited himself because these things must be done in commercial confidence and not through the media.

There probably will be LFC fans at the high court today as it's a public hearing although the case will be swiftly ajourned until later in the week to allow the judge to examine the case material in greater detail. Fans attending are aware that the 7/7 inquest is being held this week so out of respect it is highly unlikely there will be any mass, vocal protesting and anyone doing so will be duly lynched.

Update: Looks like the full hearing may be today and not the adjournment. Maybe the courts have played a blinder here to prevent masses of people turning up.. good move in the circumstances. Coverage of the case as it happens:

http://www.guardian.co.uk/football/b...t-john-w-henry

wwe 12-10-2010 15:04
Re: Football Season 2010/2011
 
when will we hear who the new owner of liverpool is as they been in the court since 11. will we hear today or later on this week?

Uncle Peter 12-10-2010 15:11
Re: Football Season 2010/2011
 
Quote:
Originally Posted by wwe (Post 35107956)
when will we hear who the new owner of liverpool is as they been in the court since 11. will we hear today or later on this week?
Hard to say at the moment. A further hearing may be required.

Uncle Peter 12-10-2010 15:45
Re: Football Season 2010/2011
 
Hicks and Gillette's representative currently resorting to schoolyard tactics, accusations and excuses to try and divert attention from the real issues.

Damien 12-10-2010 15:49
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35107971)
Hicks and Gillette's representative currently resorting to schoolyard tactics, accusations and excuses to try and divert attention from the real issues.
Quote:
Originally Posted by The Guardian
2.15pm: Back to the High Court: G&H claim that the remaining three directors, Broughton, Purslow and Ayre formed a 'sub committee' which then considered the bids and after discussions with RBS decided to go with NESV.

2.18pm: From the court: H&G argue: "Resolution of the sub-committee is invalid because the English directors were in breach of the sales contract with RBS."

2.32pm: From Sachin Nakrani outside court: Hicks claims that the sub-committee became so ingrained that the directors started to refer to it as the "home team" in emails between themselves. One of which was accidentally sent to the owners at start of last week. Hicks claims that he only breached sales agreement by trying to oust two board members because the sub committee was a breach of the sales agreement in itself.
If true it sounds like that they have a case...

Uncle Peter 12-10-2010 15:56
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35107974)
If true it sounds like that they have a case...
2.46pm: From court: G&H QC, Paul Girolami, dismisses Friday's deadline and says that instead the owners and RBS are "locked into an agreement" until 1 November.

Trying to buy time. RBS argument will be that a defined process was followed in order to complete due diligence and the sale of the club before the debt repayment deadline.

...Lord Grabiner is now up to cut through the chaff

Damien 12-10-2010 16:09
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35107977)
2.46pm: From court: G&H QC, Paul Girolami, dismisses Friday's deadline and says that instead the owners and RBS are "locked into an agreement" until 1 November.

Trying to buy time. RBS argument will be that a defined process was followed in order to complete due diligence and the sale of the club before the debt repayment deadline.

...Lord Grabiner is now up to cut through the chaff
Liverpool's position seems to be that the board can do what they want. H&G say that the agreement had already been violated by the three other board members by excluding them from decision making. If true, this would be a big dent in Liverpool's case.

Uncle Peter 12-10-2010 16:15
Re: Football Season 2010/2011
 
What Hicks claims is currently coming out in the wash. I assume that the board meeting which broke down was minuted. The bottom line will be that one of the owners attempted to block a reasonable sale which would appear to be another breach of contract.

TheDaddy 12-10-2010 16:19
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35107979)
What Hicks claims is currently coming out in the wash. I assume that the board meeting which broke down was minuted. The bottom line will be that one of the owners attempted to block a reasonable sale which would appear to be another breach of contract.
Hicks and Gillett didn't even bother to attend the board meeting IIRC

Uncle Peter 12-10-2010 16:22
Re: Football Season 2010/2011
 
Quote:
Originally Posted by TheDaddy (Post 35107981)
Hicks and Gillett didn't even bother to attend the board meeting IIRC
That's the basis of one of their arguments, that the meeting to ratify the sale went ahead anyway. Tom Hicks claims that it was within his rights to replace two of the board members with individuals who would oppose the sale to NESV (which his consel has already admiited that he wasn't).

Damien 12-10-2010 17:01
Re: Football Season 2010/2011
 
From BBC twitter:
http://twitter.com/#!/danroan
Quote:
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"

Uncle Peter 12-10-2010 17:51
Re: Football Season 2010/2011
 
Judgement made at 10:30 tomorrow morning. Fair play.

Damien 12-10-2010 17:53
Re: Football Season 2010/2011
 
Looks like sale will go though. Unless there is an appeal.

Damien 13-10-2010 11:46
Re: Football Season 2010/2011
 
Judge confirms sale can go ahead.

Uncle Peter 13-10-2010 11:56
Re: Football Season 2010/2011
 
I hope this is the first step for football getting it's house in order. Lord Grabiner QC and Snowden QC played a blinder

superbiatch 13-10-2010 11:56
Re: Football Season 2010/2011
 
As expected, they will appeal according to Talk Sport.

Uncle Peter 13-10-2010 12:09
Re: Football Season 2010/2011
 
Quote:
Originally Posted by superbiatch (Post 35108297)
As expected, they will appeal according to Talk Sport.
shhhh don't tell anyone you're listening to that of your own choice ;)

Board meeting at 8pm to resolve the details of the sale and RBS are now claiming costs. Wonder if the snakes will still want to appeal.


...and the judge rules that they are liable for costs of the board and RBS, ouch!

Damien 13-10-2010 12:13
Re: Football Season 2010/2011
 
Wonder if they might also be able to sue for damages as they won't get the £150 million they loaned to the club in order to buy players.

superbiatch 13-10-2010 12:14
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35108304)
shhhh don't tell anyone you're listening to that of your own choice ;)

Board meeting at 8pm to resolve the details of the sale and RBS are now claiming costs. Wonder if the snakes will still want to appeal.


...and the judge rules that they are liable for costs of the board and RBS, ouch!
Ouch thats gotta hurt, but i reckon they've got brass necks so watch this space ;)

Uncle Peter 13-10-2010 12:26
Re: Football Season 2010/2011
 
Seems that an appeal is unlikely and judge ruled it would have to be heard in the court of appeals, not the high court.

Damien 13-10-2010 12:47
Re: Football Season 2010/2011
 
I imagine the sale will go though but the owners can claim for damages, they are going to lose out on a lot of money they owned to the club to buy players. It's seem unlikely this can simply be dismissed....

colin25 13-10-2010 17:06
Re: Football Season 2010/2011
 
I like talksport...:D

Damien 13-10-2010 23:11
Re: Football Season 2010/2011
 
http://www.guardian.co.uk/football/b...t-verdict-live

Quote:
10.06pm: The big question that everyone is asking right now is precisely what jurisdiction does this Texas court have over the sale of the club?


10pm: Further to this story about a Texas court issuing an injunction on the sale of the club, Owen Gibson writes that Hicks and Gillett are claiming £1.6bn in damages.


9.58pm: Are Hicks and Gillett making life difficult? Are they ever. News reaches us that a Texas court has issued a restraining order on the sale of the club, calling it an "epic swindle".
Not sure what a Texas court can do. Pretty amusing though!

superbiatch 13-10-2010 23:26
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35108604)
Not sure what a Texas court can do. Pretty amusing though!
He's a joke! Just hope the board have the balls to go ahead with the sale :rolleyes:

Uncle Peter 13-10-2010 23:27
Re: Football Season 2010/2011
 
Ouch, one of NESV's backers is Carlos Slim. I hope they have deep pockets!

Damien 13-10-2010 23:52
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35108614)
Ouch, one of NESV's backers is Carlos Slim. I hope they have deep pockets!
What does that mean?

This whole thing is amazing, right at the last moment there is a ruling from a Texan court. It's the gift that keeps on giving, the level of absurdity keeps rising! I am expecting Rafa to feature again before this is over.

---------- Post added at 22:52 ---------- Previous post was at 22:44 ----------

Quote:
Originally Posted by The Guardian
10.48pm: More on the jurisdiction issue. "If Royal Bank of Scotland does business dealings in Texas, courts there would certainly have personal jurisdiction over the bank," writes Daniel Stauss.



Elsewhere in the Telegraph Paul Kelso claims that "The jurisdiction of the Texas order in the UK was not immediately clear, but sources said the impact of the action could be to put RBS, which has considerable US interests, Broughton, through his role as BA chairman, and NESV in contempt of a US Court."
RBS should just take over on Friday, quite why the owners are delaying it is beyond me. Whatever happens it looks like they are screwed.

punky 14-10-2010 00:19
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35108604)
http://www.guardian.co.uk/football/b...t-verdict-live

Not sure what a Texas court can do. Pretty amusing though!
Kop Holdings LLC owns the club and are an American company. So the court would have jurisdiction over them.

Also contrary to popular belief RBS do not own or run LFC. They own the debt. Kop Holdings LLC still own it until the bank moves to recover the debt (i.e. administration).

I don't have any love for H&G but I do wonder about RBS' motives here. They stipulate an 'independent' chairman as part of a refiancing deal and he just happens to agree a sale for the exact amount of the debt when others appear to offer more?

Chris 14-10-2010 00:21
Re: Football Season 2010/2011
 
This is great comedy. You couldn't make it up. Or could you?

https://www.cableforum.co.uk/images/...2010/10/36.jpg

:D

punky 14-10-2010 00:25
Re: Football Season 2010/2011
 
Also, Forbes (who know what they are doing) valued Liverpool at $822m in April. They haven't had that bad a start, and times aren't that bad when people should be accept less than half market value?

Chris 14-10-2010 00:33
Re: Football Season 2010/2011
 
The only 'value' that means anything is the one the buyer is prepared to write on the cheque. Everything else is just gossip and speculation.

The outcome of today's Court hearing (and I don't mean the redneck one) required, as a technicality, for the Board of LFC to be reconstituted. As the Club now has a 'new' board (albeit consisting of the same people as before) it is not bound to any agreement or undertaking it may have had with NESV. In fact, it is legally bound to consider an offer that may trump NESV's ... as the Lim offer does.

If the club is eventually sold, by the board of LFC, to a buyer in Singapore, the claim of jurisdiction the court in Texas has made today won't be worth the paper it's written on. Assuming, of course, that it's worth anything as of right now.

TheDaddy 14-10-2010 00:58
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35108622)
What does that mean?
He is the worlds richest man...

Uncle Peter 14-10-2010 01:00
Re: Football Season 2010/2011
 
Forbes so called valuations are notoriously optimistic so what Chris has posted above is the only realistic view as to the value of the club. I suspect that RBS may have a case that the owners have deceived the bank as to the purpose of the original loan agreement. It was supposed to be for the development of the new stadium but this turned out to be acquisition debt. Perhaps they have a case in this respect (possibly criminal?)

Chris 14-10-2010 09:55
Re: Football Season 2010/2011
 
The BBC's Robert Peston really is worth his weight in gold when complex business issues like this arise.

http://news.bbc.co.uk/sport1/hi/foot...ol/9080946.stm

He seems to have dug up a Texan legal expert called Tom Cruise to offer an opinion. :D

... which, incidentally, is along the lines of 'Hicks and Gillett haven't got a leg to stand on, even in Texas.'

Damien 14-10-2010 10:12
Re: Football Season 2010/2011
 
Still can't get over how funny this is. Right at the very last moment, people ready for the sale, they come up with one of the wackest ways to delay it I have heard. A court in the heart of Texas blocks the sale of a football club in Liverpool.

You have to concede that Hicks and Gillett certainly don't give up or take a hint.

Uncle Peter 14-10-2010 10:19
Re: Football Season 2010/2011
 
Obviously the actions of a desperate and deranged crook. I may at some point today seek an order via the regional court in Kathmandu:

1. that Tom Hicks traps his own dangly bits in a vice and sets fire to himself

2. that George Gillet is stripped naked and set adrift in Somali waters on Freddie Flintoff's pedalo.

that pretty much amounts to how ludicrous it is.

Uncle Peter 14-10-2010 14:41
Re: Football Season 2010/2011
 
The circus is back in court at 2PM. I can't imagine Mr Justice Floyd will be too impressed. I wonder if he'll have Hicks up for contempt.

Hmm I wonder if shadowy dealings have been going on too, maybe NESV to strike an ownership deal with Mill? we'll see

Damien 14-10-2010 14:55
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35108819)
The circus is back in court at 2PM. I can't imagine Mr Justice Floyd will be too impressed. I wonder if he'll have Hicks up for contempt.

Hmm I wonder if shadowy dealings have been going on too, maybe NESV to strike an ownership deal with Mill? we'll see
Whole thing is weird. A lot of morning was spent wondering if Hicks had sold his stake to Mill! Apparently not. I wonder how they can sell the club because Mill does own Giletts share so quite how they have the power to sell shares from other people...

Uncle Peter 14-10-2010 14:59
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Damien (Post 35108824)
Whole thing is weird. A lot of morning was spent wondering if Hicks had sold his stake to Mill! Apparently not. I wonder how they can sell the club because Mill does own Giletts share so quite how they have the power to sell shares from other people...
Apparently they don't technically as both H&G are still listed as owners on the Dallas court injunction. I've still yet to see any evidence that Mill have taken legal action to sieze Gillet's shares or that he has indeed signed them over. I suspect that even if he's in default they haven't yet taken action via the courts.. perhaps they have written undertakings via a side letter.

Uncle Peter 14-10-2010 18:26
Re: Football Season 2010/2011
 
5.21pm: Judge rules that anti-suit injunction wanted by RBS and other parties (board) against owners action in Texas is granted. "This case has nothing to do with Texas."

another blinder by Lord Grabiner QC (wouldn't fancy playing scrabble against this guy), Snowden QC and Chivers QC

Hicks last roll of the dice?

Their briefs didn't turn up.

Chris 14-10-2010 19:01
Re: Football Season 2010/2011
 
Well, at least when the club is sold out from under them, Hicks and Gillett have proven they're available for pantomimes.

Uncle Peter 14-10-2010 19:20
Re: Football Season 2010/2011
 
There's a hearing in Dallas at 7pm UK time so Hicks is either going to pull another stunt or withdraw his existing applications for litigation. Hopefully the latter or he will be in contempt of the high court.

Bulky 14-10-2010 20:26
Re: Football Season 2010/2011
 
Quote:
Originally Posted by Uncle Peter (Post 35108614)
Ouch, one of NESV's backers is Carlos Slim. I hope they have deep pockets!
Carlos slim owns a share of the new York times , the new York times owns a 17% share of NESV , the link is weak at best.

NoKnowledge 15-10-2010 15:45
Re: Football Season 2010/2011
 
NESV set to announce purchase of Premier League club Liverpool

Quote:
Tom Hicks and George Gillett accepted defeat in their bid to prevent a sale to NESV, but say they will pursue £1bn damages for an "extraordinary swindle".
"extraordinary swindle" - I burst out laughing and still laughing as I type this.

Damien 15-10-2010 16:55
Re: Football Season 2010/2011
 
Seems like Liverpool are now owned by NESV. Weirdest twist today was Hick is claiming that he attempted to pay the loan back today (with the finance coming from Mill Financial presumably) but RBS rejected it.


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