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Old 11-10-2010, 19:00   #446
Uncle Peter
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Re: Football Season 2010/2011

Quote:
Originally Posted by colin25 View Post
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.
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