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Dipper Takeover? [Merged]
- Thread starter bluemonkey71
- Start date
fbloke said:projectriver said:I have said it before and I will say it again.
There is nothing material in the "books" (ie due diligence files) that is not in the public domain. Everything required to value Liverpool to the nearest £10m is public information.
Anyway, Torres will now be up for grabs especially if the Mascherano deal is in doubt. All good news for us
Who do they owe money to?
Who is hoping to buy them?
As for Torres, I still have my bet on him being a City player by the end of the transfer window.
Who they (H&G I assume) owe money to is their business. Any interested party (and in answer to your second question, I don't believe there is a single bidder who is interested except on a distressed basis) will make an offer based on receiving the entire share capital free of any charge, security or other encumbrance. In any event, the debt H&G/Kop Holdings have doesn't affect what LFC as an enterprise is worth only what net profit (if any) H&G stand to make once debts are repaid at completion.
It's like saying that when you buy someones house it's key to know who the sellers mortgage is with in valuing the house. It isn't. What's important is they can deliver good title to the property and that any charge will be removed prior to completion.
Hope you win your bet!!!!
projectriver said:fbloke said:Who do they owe money to?
Who is hoping to buy them?
As for Torres, I still have my bet on him being a City player by the end of the transfer window.
Who they (H&G I assume) owe money to is their business. Any interested party (and in answer to your second question, I don't believe there is a single bidder who is interested except on a distressed basis) will make an offer based on receiving the entire share capital free of any charge, security or other encumbrance. In any event, the debt H&G/Kop Holdings have doesn't affect what LFC as an enterprise is worth only what net profit (if any) H&G stand to make once debts are repaid at completion.
It's like saying that when you buy someones house it's key to know who the sellers mortgage is with in valuing the house. It isn't. What's important is they can deliver good title to the property and that any charge will be removed prior to completion.
Hope you win your bet!!!!
There is a serious problem because some evidence apparently exists, to at least suggests the buyer and seller as well as one of the major creditors are very directly connected.
As I dont have the evidence and it is not yet in the public domain it is unwise to spell it out any further than that.
And indeed I have my fingers crossed for Fernando ;-)
BobKowalski
Well-Known Member
- Joined
- 17 May 2007
- Messages
- 20,218
fbloke said:projectriver said:Who they (H&G I assume) owe money to is their business. Any interested party (and in answer to your second question, I don't believe there is a single bidder who is interested except on a distressed basis) will make an offer based on receiving the entire share capital free of any charge, security or other encumbrance. In any event, the debt H&G/Kop Holdings have doesn't affect what LFC as an enterprise is worth only what net profit (if any) H&G stand to make once debts are repaid at completion.
It's like saying that when you buy someones house it's key to know who the sellers mortgage is with in valuing the house. It isn't. What's important is they can deliver good title to the property and that any charge will be removed prior to completion.
Hope you win your bet!!!!
There is a serious problem because some evidence apparently exists, to at least suggests the buyer and seller as well as one of the major creditors are very directly connected.
As I dont have the evidence and it is not yet in the public domain it is unwise to spell it out any further than that.
And indeed I have my fingers crossed for Fernando ;-)
Its fairly easy to piece together with SSN reporting that one of the creditor banks will lend funds to buy the club at a preferential rate of interest and the links between H&G and the Syrian bidder all smacks of a giant shell game with everyone shuffling around the table but not much changing in reality except a renegotiation on the interest on the debt at a more affordable level for H&G.
Least thats my take on it without going into the whole smelly affair.
fbloke said:projectriver said:Who they (H&G I assume) owe money to is their business. Any interested party (and in answer to your second question, I don't believe there is a single bidder who is interested except on a distressed basis) will make an offer based on receiving the entire share capital free of any charge, security or other encumbrance. In any event, the debt H&G/Kop Holdings have doesn't affect what LFC as an enterprise is worth only what net profit (if any) H&G stand to make once debts are repaid at completion.
It's like saying that when you buy someones house it's key to know who the sellers mortgage is with in valuing the house. It isn't. What's important is they can deliver good title to the property and that any charge will be removed prior to completion.
Hope you win your bet!!!!
There is a serious problem because some evidence apparently exists, to at least suggests the buyer and seller as well as one of the major creditors are very directly connected.
As I dont have the evidence and it is not yet in the public domain it is unwise to spell it out any further than that.
And indeed I have my fingers crossed for Fernando ;-)
Well a) odd deals rarely happen b) the only lender that really matters are RBS and they are definitely independent. No deal can happen without either discharging ie paying off RBS or without their consent to a change of control. The only way they would consent is if they were certain of the identity of the buyer and his credit risk.
There are high quality bankers and lawyers on the Liverpool side - I'll suspect something dodgy only if Barcap resign.
Against Hungary?waspish said:fbloke said:Who do they owe money to?
Who is hoping to buy them?
As for Torres, I still have my bet on him being a City player by the end of the transfer window.
the way Gerrard run the midfield tonight we should put a bid in for him
Kinky by name
Well-Known Member
EXCLUSIVE – Kenny Huang’s business partner: ‘No decision on Liverpool proposal’
By Nick Harris
10 August 2010
Kenny Huang, the Chinese businessman linked to a potential Liverpool takeover, has yet to decide whether to send the club a proposal, let alone a bid for the club, one of his American business partners has told sportingintelligence.
Marc Ganis, of the Chicago-based Sportscorp Ltd, contacted this website last night about a story involving Huang published yesterday (more of which in a moment), and in an extensive email exchange, said that “no proposal has been made and no decision to offer a proposal has been made.”
This will come as a shock to many Liverpool fans, who rightly or wrongly believe that Kenny Huang, backed by the sovereign resources of China, is a frontrunner to take control at Anfield.
During the email conversation with Mr Ganis late last night and in the early hours of this morning, sportingintelligence told Mr Ganis that his clarification of the situation was exactly the kind of information fans are seeking from him and Huang, if only to set the record straight on what they are proposing, or not.
Sportingintelligence requested permission to reproduce a key email from this exchange, verbatim, so here it is, solely and wholly in the words of Marc Ganis:
.
Email from Marc Ganis to Nick Harris of Sportingintelligence, received 1.24am UK time
“I have tried to not only be honest, but set the record straight.
“Among the most important points I have tried to get out, either directly or through Kenny’s releases, is that no proposal [in relation to a Liverpool bid] has been made and no decision to offer a proposal has been made.
“There were many reports about CIC, yet at no time to [any] party, whether [to] the media, Sir Martin [Broughton] or Barcap, have we ever identified that CIC was an investor.
“We have not identified any investors and I offered only one point about CIC in the AP story, and at that I made it clear they were not committed in any way.
“I made it clear there were no deadlines, meetings or discussions with players, their reps or managers, nor issue with regard to the date the transfer window would close. And I clarified many other points. I also made it clear that the PR firm that purported to represent us has and had no role with us.
“But for whatever reason our efforts to offer accurate information often falls on deaf ears.
“Kenny made it clear in a press release on April 12, 2010 that he had no interest in the Cavaliers. Yet the media continued to write he did. [Extract from aforementioned press release: ‘QSL Sports also confirmed that its two co‐founders and co‐chairmen Huang and Cheng do not hold any stake personally in Cleveland Cavaliers of NBA in the US.’]
“It’s hard to say why this all has been the case, but the facts are the facts.
“Reporters want Kenny to demonstrate all aspects of a bid – yet no bid has been presented and no decision to submit one has been made. If and when that time comes, the financial support will be presented to Barcap and the board.
“It is entirely inappropriate to do so to the media, despite requests and demands that it be done. That is simply not the way sports deals are done – and on this I have a fair amount of experience.
“If a proposal is submitted [and] if it is lacking in financial wherewithal that will be demonstrated by its rejection or its inability to close.
“For some reason, some in the media are insistent on tasting the cake before it is fully baked, when the very process of opening the oven and taking a taste in itself will adversely impact its baking.
“I know this is a difficult concept to recognize but it is the case in such deals.
“In any event, good luck with your columns.
“All the best
“Marc.”
By Nick Harris
10 August 2010
Kenny Huang, the Chinese businessman linked to a potential Liverpool takeover, has yet to decide whether to send the club a proposal, let alone a bid for the club, one of his American business partners has told sportingintelligence.
Marc Ganis, of the Chicago-based Sportscorp Ltd, contacted this website last night about a story involving Huang published yesterday (more of which in a moment), and in an extensive email exchange, said that “no proposal has been made and no decision to offer a proposal has been made.”
This will come as a shock to many Liverpool fans, who rightly or wrongly believe that Kenny Huang, backed by the sovereign resources of China, is a frontrunner to take control at Anfield.
During the email conversation with Mr Ganis late last night and in the early hours of this morning, sportingintelligence told Mr Ganis that his clarification of the situation was exactly the kind of information fans are seeking from him and Huang, if only to set the record straight on what they are proposing, or not.
Sportingintelligence requested permission to reproduce a key email from this exchange, verbatim, so here it is, solely and wholly in the words of Marc Ganis:
.
Email from Marc Ganis to Nick Harris of Sportingintelligence, received 1.24am UK time
“I have tried to not only be honest, but set the record straight.
“Among the most important points I have tried to get out, either directly or through Kenny’s releases, is that no proposal [in relation to a Liverpool bid] has been made and no decision to offer a proposal has been made.
“There were many reports about CIC, yet at no time to [any] party, whether [to] the media, Sir Martin [Broughton] or Barcap, have we ever identified that CIC was an investor.
“We have not identified any investors and I offered only one point about CIC in the AP story, and at that I made it clear they were not committed in any way.
“I made it clear there were no deadlines, meetings or discussions with players, their reps or managers, nor issue
“But for whatever reason our efforts to offer accurate information often falls on deaf ears.
“Kenny made it clear in a press release on April 12, 2010 that he had no interest in the Cavaliers. Yet the media continued to write he did. [Extract from aforementioned press release: ‘QSL Sports also confirmed that its two co‐founders and co‐chairmen Huang and Cheng do not hold any stake personally in Cleveland Cavaliers of NBA in the US.’]
“It’s hard to say why this all has been the case, but the facts are the facts.
“Reporters want Kenny to demonstrate all aspects of a bid – yet no bid has been presented and no decision to submit one has been made. If and when that time comes, the financial support will be presented to Barcap and the board.
“It is entirely inappropriate to do so to the media, despite requests and demands that it be done. That is simply not the way sports deals are done – and on this I have a fair amount of experience.
“If a proposal is submitted [and] if it is lacking in financial wherewithal that will be demonstrated by its rejection or its inability to close.
“For some reason, some in the media are insistent on tasting the cake before it is fully baked, when the very process of opening the oven and taking a taste in itself will adversely impact its baking.
“I know this is a difficult concept to recognize but it is the case in such deals.
“In any event, good luck with your columns.
“All the best
“Marc.”
Funny as I thought all along nowhere near anyone making a serious offer let alone enough for the Yanks to accept.
The Yanks prefered bidder has said they want at least 2 months to look over the books and consider a deal FFS.
Its not just the books that need looking at, a decent team of accountants could find every skeleton within a few days. The big issues with Liverpool are the projected costs for the stadium and likely revenue streams. Getting those sort of plans and estimates in shape takes many months.
Without a new stadium Liverpool are simply are not viable a viable top 4 side and reasonable investment, you would be relying on a owner comming in like we have or Roman at Chelsea - if there was someone like that out there Liverpool would have been sold long ago.
The Yanks prefered bidder has said they want at least 2 months to look over the books and consider a deal FFS.
Its not just the books that need looking at, a decent team of accountants could find every skeleton within a few days. The big issues with Liverpool are the projected costs for the stadium and likely revenue streams. Getting those sort of plans and estimates in shape takes many months.
Without a new stadium Liverpool are simply are not viable a viable top 4 side and reasonable investment, you would be relying on a owner comming in like we have or Roman at Chelsea - if there was someone like that out there Liverpool would have been sold long ago.