fbloke said:alera said:What that the board want to sell and the owners dont ?
They are not sold yet nothing like it, first of all fit and proper persons then they have to come up with the cash, THEN they have to go to the high court and show that they can legally sell the club without the agreement of the majority shareholders.
This could drag on for months. Happy days.
Lets also not forget that LFC has been independently valued at £600m+ and yet the deal will be for the repayment of the debt only, about £250m.
Would anyone on here allow their property to be sold at such a deflated value leaving them with nothing?
discopop said:CityPar said:In advance, I apologise if this has been posted anywhere else.
I have just heard from a source I trust completely that Liverpool have 2 buyers interested and 1 of them is so far down the road an announcement will be made soon.
Liverpools Yanks current loan to RBS needs to be paid by tomorrow but is subject to a period of grace (9 days I am led to believe). So to all intents and purposes the RBS will step in on 15th October as it appears there is little hope Gillet or Hicks can settle it. However, the RBS takeover will not be required for long (if at all) as we'll start to hear that progress has been made on the buyers takeover.
Spot on origianal poster it seems.
Someone who was ITK
Also, another snippet of info is I was told that when RBS introduced the penalty payments, they put in a clause saying they could convert the £2.5m per year into equity. This means they will not put the LFC into administration, because they’ll own it. The Premier League have apparently indicated they are OK with this. Again, the hope for RBS is that they will be able to sell quickly which by my source seems to be a done deal.
Just thought I'd throw this out there and will take whatever crap comes my way if nothing happens soon ;o)!!
bluwes said:fbloke said:Lets also not forget that LFC has been independently valued at £600m+ and yet the deal will be for the repayment of the debt only, about £250m.
Would anyone on here allow their property to be sold at such a deflated value leaving them with nothing?
When your house gets repossed because you cant afford the mortgage repayments, the banks foreclose on the mortgage and sell it off for what they can get
The PL are happy to have a club owned by the taxpayer - well no change there as the country has been bailing out Murkyside for decades!!<br /><br />-- Wed Oct 06, 2010 10:17 am --<br /><br />discopop said:CityPar said:In advance, I apologise if this has been posted anywhere else.
I have just heard from a source I trust completely that Liverpool have 2 buyers interested and 1 of them is so far down the road an announcement will be made soon.
Liverpools Yanks current loan to RBS needs to be paid by tomorrow but is subject to a period of grace (9 days I am led to believe). So to all intents and purposes the RBS will step in on 15th October as it appears there is little hope Gillet or Hicks can settle it. However, the RBS takeover will not be required for long (if at all) as we'll start to hear that progress has been made on the buyers takeover.
Spot on origianal poster it seems.
Someone who was ITK
Also, another snippet of info is I was told that when RBS introduced the penalty payments, they put in a clause saying they could convert the £2.5m per year into equity. This means they will not put the LFC into administration, because they’ll own it. The Premier League have apparently indicated they are OK with this. Again, the hope for RBS is that they will be able to sell quickly which by my source seems to be a done deal.
Just thought I'd throw this out there and will take whatever crap comes my way if nothing happens soon ;o)!!
fbloke said:
Absolutely, nice one from the OP.
However I still maintain the timing seems strange and the whole thing is still unsigned ;-)
-- Wed Oct 06, 2010 10:09 am --
bluwes said:When your house gets repossed because you cant afford the mortgage repayments, the banks foreclose on the mortgage and sell it off for what they can get
But they aren't allowed to agree a sale BEFORE the repossession has taken place or even had the paperwork prepared.
Indeed it could. I suspect there will be two legal challenges. The first will be over the ability of the other three board memebers to agree a sale without Hicks & Gillett.alera said:This could drag on for months. Happy days.
Do you think they´ll be able to get the legal processes in motion before RBS pull the plug and ride roughshod over their wishes?Prestwich_Blue said:Indeed it could. I suspect there will be two legal challenges. The first will be over the ability of the other three board memebers to agree a sale without Hicks & Gillett.alera said:This could drag on for months. Happy days.
If that fails then the second will presumably be around the duty of the board to consider the best interests of the shareholders in any sale, as the board are doing what they see as best for the club when their duty in law is to the shareholders. If H & G can prove that the sale significantly undervalues the club then they could stop the sale.
That´s why they all end up as (pseudo)Marxists in Murkyside!marco said:hahaha an email from a scouser just read out on sky- we dont want a sugar daddy like chealsea or city, we are not a play thing, we will buy our players with the profit the club makes and im going to buy a red sox flag for our next home game.