Extension – Probably the most likely course of action if there is a prospect of a deal on the table. Martin Broughton and Barclays Capital have been seeking buyers since April, and although there has apparently been a good deal of interest no one has put enough money on the table for a bid to be accepted. RBS will have to decide whether they would allow the loan to be extended so as to give Broughton more time and perhaps take a lead role in selling the club, taking away responsibilities from BarCap. An extension may only be a possibility though if RBS beliveve that some progress has been made on the takeover front with a prospective buyer.
Hicks’ refinancing – In recent days, Liverpool co-owner Tom Hicks has been rumoured to be discussing a refinancing deal to pay off the RBS debt with another £280m loan from privaty equity giant the Blackstone Group. It was confirmed however on Monday that Blackstone had failed to agree with Hicks on a refinancing package which would have kept the American in control for another two years. It was however unlikely to succeed anyway as Christian Purslow has stated that the 3 “non-owner” board members would be “very unlikely” to accept such a deal:
“That [refinancing] would require Board approval and the other members of the Board have made it clear that’s not what we want to see happen. . . Any incurrence of indebtedness by Liverpool Football Club needs full Board approval. The non-owner directors have made it clear that’s not what we want to see happen.”
In summary then, as the deadline draws nearer, it seems more and more likely that RBS will call in the debt, but it wouldn’t be surprising if they opted to extend the loan for a short period if a late offer emerges. What do you think will happen?
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A Renault Mégane was driven from Menton, France to Gisburn, Lancashire. Can a car change a town?
My feeling is that any interested parties are waiting for RBS to take control so that they will be able to purchase the club at a knockdown price, lets face it the americans are asking too much for the club, and any would be investor would be crazy to meet their valuation, especially as everyone knows that the club we be on the cheap once the americans are out of the picture, lets just hope the right buyer is waiting in the wings, also note that Christian Purslow has stated today that several potential buyers are going through due dilligence, maybe they are just biding their time waiting for ^th October?
I wouldn’t be surprised to see another short term extension, hoping for a sale, the idea of the bank taking over is not something I think will happen, I’m not up with the way these banks work but it just seems like too much work for RBS to tale over, if they see proof that there are possible birders considering a buyout
It’s ridiculouis to think the club is going bust. A look at the accounts will tell you that isn’t the case. The club will be sold but not at the current asking price. The media take delight in writing anything about The Reds. No other English club is subjected to such examination.
there’s no way hicks and gillette will want to lose money from liverpool without putting up a serious fight, they are conmen who dont care about liverpool and dont care if liverpool ends up ruined as long as they make profit. So dont be surprised if their ownership drags on well beyond october
Dont keep blaming Hicks and Gillett – the other 3 need to WAKE UP and FORCE THE SALE
the sooner the better the sale of the club is ressolved the sooner every thing can settle down and we ll know where we are with money and future signings .we need to be in the champions league and we need to start properly challenging for the premier league its just not good enough !ynwa
I have a feeling their will be another short term extention as well but all other possible buyers are waiting for that knock down price, wouldn’t you!
we all know too well that if any sort of extension is given the yanks are going to continue their greedy ways and try to squeeze 800m out of the buyer. there might be some progress made then they get difficult and we’re left in limbo again. giving them an extension is a waste of time, so for god sake RBS just take some action, repossess us and make sure that they leave with nothing. then we’ll finally have someone who’d actually pay for us. come on Sheikh Khalifa!
Lee
i agree you: “come on Sheikh Khalifa” lokk at my avatar 😉