Finally some POSITIVE News about the sale
As you can imagine as editor of this website, the last few months have invariably meant me reporting stories and writing blogs about Liverpool that have not generally been positive. Hopes of a sale of the club in August were dashed, and this has been surrounded by the sacking of Rafa Benitez and a poor start to the season under new manager Roy Hodgson. All in all, the Reds are going through one of the most difficult periods in the club’s history and I am hoping that that the October 6th deadline and the subsequent ten days after, which could see the RBS call in their loan to the American owners, could bring to an end this drawn out saga.
The ownership issue has hung over the club for so long that it has begun to consume everything relating to the club. It has brought every Reds fans to their lowest ebb, and we all hope in the next 17 days that this despair can be lifted off the club. It is then with a small amount of hope that I read an article in the Liverpool Daily Post today about the possibility of two potential buyers being in the “advanced stages” of talks. Certainly it is not wise to get our hopes up, especially after they have been dashed many times before. The Daily Post is hesitant in what it says about the two parties for although they are going through due diligence, no former offer has been made.
One of the big issues ahead when the deadline comes along is what RBS will decide to do about the loan. With its majority being state-owned, RBS sees calling in the debt, forcing the club’s holding company into administration and selling the club on its own, as the last resort. At the same time though, it is unlikely that a sale of the club will take place before the deadline because of the American owners’ high asking price and the fact that the interested parties would see no point in paying a premium price when they could just wait for the American’s to default on the loan in a short space of time.
According to the report also, the Liverpool board are taking their time with the two interested parties. Martin Broughton, Christian Purslow and Ian Ayre are not really keen to sell the club to the highest bidder if a better offer for the club, in regards to financing player acquisitions, the stadium and reducing the debt, is on the table. Chairman Martin Broughton came out today to say to the Guardian that he wouldn’t be putting his name forward to become Chairman of the FA, indicating that that a deal to sell Liverpool is a long way off. He was appointed to oversee the takeover and he has taken his hat out of the ring for the FA solely because he hasn’t finished his job at Anfield.
I, like every other Reds supporter, would love to see the RBS call in the debt and leave the American owners with nothing. Whether this becomes a reality is up to whether the bank finally loses patience with Hicks and Gillett and tries to recover as much as they can themselves from the sale of the club. The waiting goes on, but let’s hopes, for the club’s sake, it is not for much longer.
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September 30th, 2010
From my understanding the valuation of the club has already gone down, but not by much, the October deadline is still the 6th but an extra 17 days is given to the board not the owners after the 6th of October. This is for them to put a realistic valuation on the club and to find the best buyer, if this fails aswell then RBS will have no choice but to takeover the club and the holding club will go in to administration, we will avoid the 9 point penalty but face a £60 million fine which will be added on top of the asking price, but the bank will then on auction off the club then it will be the highest bidder not the best buyer. So i hope the board finds the best buyer and it doesn’t go to auction. Just look at the current owners they only got the club because they paid Moores slightly more and we could have had DIC who would have been the better party even if Moores was right and they did sell it on for a profit later atleast wed probably have a new ground by now and world class players so they could have sold it for a profit……YNWA
September 30th, 2010
When are people going to realise that Purslow, Broughton and Ayre are on our side. They blocked hicks from refinancing using melwood or anfield as collateral. They are trying to do whats right for the club and the fans. Yes they may have failed in selling the club but I dont think anyone would have been able to sell to at the hugely inflated asking price.
Personaly im hoping a sale does go through before the deadline because theres no telling what RBS would do to recoup the money they are owed. All our star players could be sold in an asset stripping plan and then the club could be sold to the highest bidder without any care as to the future of Liverpool FC.
These are very anxious times with the very real possibility of Hicks retaining control.
September 30th, 2010
Rob A. I have 2 say thank you. The most reasonable and well thought out comment on the owner situation. Can’t keep blaming Purslow who along with Ayre 4 making Liverpool’s commercial activity a lot more professional and profitable. It’s the owners that are sucking the life blood out of the club. Nobody is going 2 pay the inflated price especially before the RBS deadline.
October 1st, 2010
I have a feeling the bank will take the club but do believe they will do us a good turn.
I think they will choose the best buyer as they are only out to recoup their debts.
For some reason i trust the bank more than i ever trusted David Moores.