Liverpool SOLD to Boston Red Sox

71 replies
Found 6th Oct 2010
When I woke up this morning the headline was about the Americans trying to sack Purslow and Ayre from the Board to replace them with their own puppets. That legal dispute apparently continues, but BBC Sport has just popped up with this headline.

"Crisis-hit Liverpool are to be sold to the owners of the Boston Red Sox baseball team.

But the takeover by the New England Sports Ventures is subject to the resolution of a legal dispute with US owners Tom Hicks and George Gillett.

The Premier League will also have to approve the latest American buyout.

Earlier Hicks and Gillett tried to sack managing director Christian Purslow and commercial director Ian Ayre in a last-ditch bid to keep control of the club. "

Discuss.

71 Comments

saw this on bbc-however it is subject to the "resolution of a boardroom dispute" so it isnt a certainty

if hicks and gillet think the bid undervalues the club,which they own-dont see how they can be forced to sell
Edited by: "barky" 6th Oct 2010

Original Poster

barky

saw this on bbc-however it is subject to the "resolution of a boardroom … saw this on bbc-however it is subject to the "resolution of a boardroom dispute" so it isnt a certainty

Indeed, bit of a legal wrangle, with the Americans throwing their toys out of their pram now that the five man board has voted against them 3 to 2, which was always going to happen. That was originally the story this morning. At least we know where we stand, though, and I would expect that dispute to be resolved soon.

And by 'soon', I mean the next two to three years. That would be about right.

Banned

Once the deadline for the £285M payment required by the RBS passes, Liverpool will be insolvent, 9 points deducted and firmly on the foot of the table. I honestly don't think thats too far away in happening.

Nothing against Liverpool, but their former owners are the ones who should be shot for putting them in harms way through pure greed.

Aren't they falling into the same trap as many other clubs though, that headline could have said 'SOLD TO ANYONE' and Liverpool fans would be happy. Isn't that where it all went wrong in the first place with this club and many others. Don't you need to find out the levels of backing and investment planned before handing it over to another unknown.

Just because he owns the Red Sox what does that prove, nothing. By what I am hearing he far from being wealthy and is unliekly to bankroll a new stadium and team investment so will they realistically be any better off?

guv

Once the deadline for the £285M payment required by the RBS passes, … Once the deadline for the £285M payment required by the RBS passes, Liverpool will be insolvent, 9 points deducted and firmly on the foot of the table. I honestly don't think thats too far away in happening.



Great, then the tax-payer will then own 84% of Liverpool, Torres et all, wonderful ...NOT

Banned

greg_68

Aren't they falling into the same trap as many other clubs though, that … Aren't they falling into the same trap as many other clubs though, that headline could have said 'SOLD TO ANYONE' and Liverpool fans would be happy. Isn't that where it all went wrong in the first place with this club and many others. Don't you need to find out the levels of backing and investment planned before handing it over to another unknown.Just because he owns the Red Sox what does that prove, nothing. By what I am hearing he far from being wealthy and is unliekly to bankroll a new stadium and team investment so will they realistically be any better off?



American owners are bad for Football. Of the three high profile clubs with US owners, all have abused their position and used the club for their own purpose. How the authorities have allowed clubs to be bought with loans then given as a gift to the clubs in the form of club debts I'll never know. If you cant afford it GTF.

I wouldn't want to see Man U, Villa or Liverpool fold due to the yanks. Realistically it could very well happen. I mean come on.... £800M debt by one club! Crazyness!

this 9 point deduction is in no way certain as the club would have to be ran by bank/administrator and rbs have already said they have no interest in takin over control of club,they (rbs) can still sell the without the club after that deadline without taking control so the club wouldnt be deducted 9 points

Banned

barneydog

Great, then the tax-payer will then own 84% of Liverpool, Torres et all, … Great, then the tax-payer will then own 84% of Liverpool, Torres et all, wonderful ...NOT



The tax payer is already paying towards the upkeep of Newcastle Utd.

Banned

beso

this 9 point deduction is in no way certain as the club would have to be … this 9 point deduction is in no way certain as the club would have to be ran by bank/administrator and rbs have already said they have no interest in takin over control of club,they (rbs) can still sell the without the club after that deadline without taking control so the club wouldnt be deducted 9 points



If that debt IS called in, then Liverpool will be in administration and 9 points deducted. If the RBS are the ones selling the club (as youve suggested), then clearly they are in control.

Sad times for Liverpool. I'm enjoying laughing at their results, but I hate to think where this could all lead.

Banned

Same as guv.....seeing them loose is a hoot, but I feel sorry for the life long supporters and to see so much heritage go to the wall

ok confused about possible future outcomes, if hicks and gillette are now taking legal action against the board to stop the sale then it'll go to the high court, which of course takes forever, during that time all assets will be frozen and no sale can be made, meaning they are then liable for the payment to be made to RBS, but as this will not have been made by the deadline is it then the property of the bank when the eventual ruling is made

guv

If that debt IS called in, then Liverpool will be in administration and 9 … If that debt IS called in, then Liverpool will be in administration and 9 points deducted. If the RBS are the ones selling the club (as youve suggested), then clearly they are in control. Sad times for Liverpool. I'm enjoying laughing at their results, but I hate to think where this could all lead.



Wrong, Kop Holdings Ltd will be insolvent, not the club itself. The club would be instantly sold (for the amount to cover RBS's debt) so there would be no need to enter administration therefore the points deduction would not take place

I dont get it, if gillette and hicks don't sell and its taken over by rbs then they get nothing, so its in their interests to cut their looses and at least re-coup some finances.

If it goes to the bank and the bank sells it on at the debt price of just short of 300m then you have to wonder who'll pick it up at such a bargin price!

Banned

roryk83

[Wrong, Kop Holdings Ltd will be insolvent, not the club itself. The club … [Wrong, Kop Holdings Ltd will be insolvent, not the club itself. The club would be instantly sold (for the amount to cover RBS's debt) so there would be no need to enter administration therefore the points deduction would not take place



Southampton tried that one.... and lost.

guv

Southampton tried that one.... and lost.



Southampton didn't have anyone waiting in the wings to purchase the club, we obviously do

this new American isn't in it for the long run, he's gona try to turn it over within I'd say two years and make a profit

Banned

roryk83

Southampton didn't have anyone waiting in the wings to purchase the club, … Southampton didn't have anyone waiting in the wings to purchase the club, we obviously do



I think you've missed the point.

If the club is insolvement, it doesn't matter if its a holding company or that someone is ready to buy. Its happened....... and rules is rules and all that.(Can you imagine the mess they would be in if they let Liverpool escape and not anyone else?) High court anyone?

guv

I think you've missed the point.If the club is insolvement, it doesn't … I think you've missed the point.If the club is insolvement, it doesn't matter if its a holding company or that someone is ready to buy. Its happened....... and rules is rules and all that.(Can you imagine the mess they would be in if they let Liverpool escape and not anyone else?) High court anyone?



Kop Holdings would not be entering administration, RBS would seize the asset and sell, there is no other debts (that we're aware of)

Rory, guv is right - if RBS call in the loan we will go into administration, but only if we cannot fulfill our financial commitments - it might mean the sale of a few players to prevent this.

Edited by: "midlandscomics" 6th Oct 2010

Banned

roryk83

Kop Holdings would not be entering administration, Kop Holdings would … Kop Holdings would not be entering administration, Kop Holdings would seize the asset and sell



Cool. All kop holdings have to do is give the RBS the £285M the club owe and everything is sorted.

Oh wait!
.
Edited by: "guv" 6th Oct 2010

guv

Cool. All kop holdings have to do is give the RBS the £285M the club owe … Cool. All kop holdings have to do is give the RBS the £285M the club owe and everything is sorted.Oh wait!.


guv

Cool. All kop holdings have to do is give the RBS the £285M the club owe … Cool. All kop holdings have to do is give the RBS the £285M the club owe and everything is sorted.Oh wait!.


guv

Cool. All kop holdings have to do is give the RBS the £285M the club owe … Cool. All kop holdings have to do is give the RBS the £285M the club owe and everything is sorted.Oh wait!.



I typed Kop Holdings by mistake, I meant RBS

midlandscomics

Rory, guv is right - if RBS call in the loan we will go into … Rory, guv is right - if RBS call in the loan we will go into administration, but only if we cannot fulfill our financial commitments - it might mean the sale of a few players to prevent this.



If RBS call in the debt they will effectively repossess the club ( in much the same way the bank would if you defaulted on your mortgage), which would be a temporary situation whilst a sale is arranged. If you defaulted on your mortgage and the bank repossessed you wouldn't be bankrupt

roryk83

If RBS call in the debt they will effectively repossess the club ( in … If RBS call in the debt they will effectively repossess the club ( in much the same way the bank would if you defaulted on your mortgage), which would be a temporary situation whilst a sale is arranged. If you defaulted on your mortgage and the bank repossessed you wouldn't be bankrupt



Like I said above, it'll only happen if we can't meet repayments to our creditors; unlikely, but possible.

Anyway, even though the new owners aren't mega-rich, they know how to run a club the right way (just look at the Red Sox) and means any silverware will be 'won', and not 'bought'.

Banned

roryk83

If RBS call in the debt they will effectively repossess the club ( in … If RBS call in the debt they will effectively repossess the club ( in much the same way the bank would if you defaulted on your mortgage), which would be a temporary situation whilst a sale is arranged. If you defaulted on your mortgage and the bank repossessed you wouldn't be bankrupt



i love your optimism. I think you'll find the premier league will disagree with your take on it. Anyway.... As I've already said, i hold no ill feelings towards Lfc.

Hopefully you find a decent buyer (but not too rich) and hicks and Gillette are sent packing.

Like I said above, it'll only happen if we can't meet repayments to our … Like I said above, it'll only happen if we can't meet repayments to our creditors; unlikely, but possible.Anyway, even though the new owners aren't mega-rich, they know how to run a club the right way (just look at the Red Sox) and means any silverware will be 'won', and not 'bought'.



Precisely, kop holdings carries the debt owed to RBS, we're not aware of any other debt. The football club itself is profitable and can meet its financial demands/debts, so once the RBS debt is satisfied there will be no rush of creditors trying to place it into administration. All this talk of administration is scare mongering

I think you'll find the premier league will disagree with your take on … I think you'll find the premier league will disagree with your take on it. Anyway.



what are you basing this on?

guv

American owners are bad for Football. Of the three high profile clubs … American owners are bad for Football. Of the three high profile clubs with US owners, all have abused their position and used the club for their own purpose. How the authorities have allowed clubs to be bought with loans then given as a gift to the clubs in the form of club debts I'll never know. If you cant afford it GTF.I wouldn't want to see Man U, Villa or Liverpool fold due to the yanks. Realistically it could very well happen. I mean come on.... £800M debt by one club! Crazyness!



never ever would happen.

and villa have a very good owner and are run nothing like liverpool or man utd. get your facts straight before you jump on all american owners are bad.

Banned

LFC is KOP holdings only asset which will be seized by RBS if the dept isn't paid by next Friday....which is the best thing from RBS#s point of view.
Edited by: "slamdunkin" 6th Oct 2010

Sloth/Mod

muffinman_84

never ever would happen.and villa have a very good owner and are run … never ever would happen.and villa have a very good owner and are run nothing like liverpool or man utd. get your facts straight before you jump on all american owners are bad.



I agree that Randy Lerner has done well at Villa. He's not interfered much and seems to have a sound long term plan in place.

I'd say the only concern for Villa fans is the fact it is a selling club and the lack of investment following two big money sales. Although i don't know how much of that has gone to service Lerner's loan.

Will Ashley Young be the next?
Edited by: "Syzable" 6th Oct 2010

Villa aren't a selling club really they are just part of the stupid mega rich 'we can buy anyone circus'

The players we have sold have made financial sense as far as a business goes and unfortunately all clubs are run as such now.

Unfortunately Villa have become none existent as far as the league title is concerned along with 16 other clubs thanks to the spending madness that has been allowed to go on in the premiership.

As for Young he is due to sign a new contract this week maybe, but that is irrelevant anyway as we have no chance of winning the league anyway.

Sloth/Mod

I agree with what you are saying. I use the term selling club losely as i think it applies to everyone in the Prem bar Chelsea and Man City. Even Man Utd can't keep hold of players when the big money comes knocking.

If Young has any sense he'll stay. Better to play week in and week out rather than a dozen times a season just to say you won a medal that you hardly played a part in.

I blame the FA for this whole sorry mess for allowing the likes of Chelsea and Man City to spend ludicrous amount of money forcing the clubs below them to do the same when in reality it was only leading to disaster for the clubs without mega rich owners.

Sloth/Mod

I know. I'm a Liverpool Fan (pause for laughter) and the Premier League is fast becoming a nonsense. Thank god for the Championship (insert Liverpool joke) each week as i find it much more entertaining and competitive.

If things carry on this way i don't think it will be that long before the Premiership completely breaks away from the FA and kills off top flight football as it's a law unto itself.

Banned

muffinman_84

never ever would happen.and villa have a very good owner and are run … never ever would happen.and villa have a very good owner and are run nothing like liverpool or man utd. get your facts straight before you jump on all american owners are bad.



LOOL... bite from wrong Villa fan! X) Fact is, Villa can t compete financially now with any club. You lost your manager because of this.

roryk83

All this talk of administration is scare mongering



Liverpool are not profitable. They have huge debts and are unable to service their own loans. Yes, I realise the debt is the owners personal debt passed to the club to finance the purchase (which should be illegal IMHO), but thats irrelivant.

For the life of me, I cant see how Man Utd are going to get rid of that £800M debt unless a Charitable Bill Gates mega rich guy is found. But thats for the future. Today, Liverpool have a few days to come up with £285M for loans. Its very real Rory.

think I might pop down to Anfield now see whats happenin


roryk83

All this talk of administration is scare mongering



Liverpool are not profitable. They have huge debts and are unable to service their own loans. Yes, I realise the debt is the owners personal debt passed to the club to finance the purchase (which should be illegal IMHO), but thats irrelivant.

For the life of me, I cant see how Man Utd are going to get rid of that £800M debt unless a Charitable Bill Gates mega rich guy is found. But thats for the future. Today, Liverpool have a few days to come up with £285M for loans. Its very real Rory.[/quote]

I take your point Guv that these levels of debt are dangerous to the game, but Liverpool are profitable it is Kop Holding that owes the one debt and once it is repaid or the club seized there will be no other creditors looking to rush us into administration! Need to keep the case in hand in perspective, but I do take your point re debt and football in this country. Personally I think its time a wage cap is introduced to bring some genuine competitiveness back into the game

Banned

roryk83

think I might pop down to Anfield now see whats happenin



See you on the news

DLM

See you on the news



only if Hicks dares to show his face, then the whole place might kick off!
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