Breaking News: Hicks terminates talks with Dubai group

[The Esk]

From Reuters:

MANCHESTER, England (AP) - Liverpool co-owner Tom Hicks has terminated talks with a Dubai consortium over acquiring a minority stake in the Premier League club.

His decision comes hours after Dubai International Capital said its negotiations with co-owner George Gillett Jr. were moving along.

Over the weekend, Hicks denounced DIC's conduct in trying to acquire 49 percent of the Reds from Gillett.

Excellent

 

[TX Bill]

Excellent

Came across my news ticker just a second ago.

Don't know what to make of it.

 

[SuitsBlue]

they are just sounding each other out, bit like the first round in a boxing match, weighing each other up and measuring distances.

 

[The Esk]

Don't know what to make of it.

How about:

1. Further unrest for the RS
2. Even worse relationship between Hicks and Gillette
3. Greater potential for breach of covenants relating to debt.
4. Stadium on hold
5. Unless resolved no money for summer transfers
6. On top of that failure to qualify for Champions League will create £10m black hole.

:yahoo::yahoo::yahoo:

 

[The Esk]

Official statement by Hicks

"Based on a meeting held earlier today in Dubai between my representatives and officials of Dubai International Capital LLC, as well as other recent contacts between us and them, I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop [Football Holdings Limited] and, in turn, in the club.

"DIC made it clear that if they invested in the club, they would want it to be managed by committee. Based on my 13 years of successful experience as an owner of professional sports teams, and based in particular on the situation at Liverpool Football Club over the past year, it is clear to me that such a committee approach would not be in the best interest of Kop, of the club or of the club's loyal and passionate supporters.

"Accordingly, I have decided to exercise my right under the Kop Football (Holdings) Limited partnership agreement to veto any sale of any portion of Kop and the club to DIC.

"I and my colleagues and representatives will continue to explore a number of other options with regard to the ownership of Kop and the club aimed at achieving an appropriate ownership, financial and organisational structure for Kop and the club over the long term."

just how pissed off will this make RS supporters ?

 

[TX Bill]

How about:

1. Further unrest for the RS
2. Even worse relationship between Hicks and Gillette
3. Greater potential for breach of covenants relating to debt.
4. Stadium on hold
5. Unless resolved no money for summer transfers
6. On top of that failure to qualify for Champions League will create £10m black hole.

:yahoo::yahoo::yahoo:

Great synopsis. I feel much better now.

 

[sandman]

Well Bill I know a few irish navvies who will dig down to oz for that sort of money to bury the [Poor language removed]

 

[The Esk]

Excellent - I'm trying to get hold of Hicks as I type.

I know you all have faith in me, thank you for your continued support.

 

[monty]

Inter 3 [Poor language removed] 0

Club value drops £50 mil, sell Stevie G and Torres to make up the deficitl. The [Poor language removed] relegated next season, new ground plans scrapped as EFC refuse to share, club value drops by a further £150 mil liquidators called in by RBS [Poor language removed] deducted 10 points and are relegated. the [Poor language removed] now ground sharing with Tranmere Rovers lose derby game but look foward to playing Leeds

Is this a dream

 

[TX Bill]

Inter 3 [Poor language removed] 0

Club value drops £50 mil, sell Stevie G and Torres to make up the deficitl. The [Poor language removed] relegated next season, new ground plans scrapped as EFC refuse to share, club value drops by a further £150 mil liquidators called in by RBS [Poor language removed] deducted 10 points and are relegated. the [Poor language removed] now ground sharing with Tranmere Rovers lose derby game but look foward to playing Leeds

Is this a dream

Save this post for future reference Monty.

I'd love for you to be able to come back at us in a year and say "I called it !!!"

 

[monty]

Save this post for future reference Monty.

I'd love for you to be able to come back at us in a year and say "I called it !!!"

I'll be on after this weeks game Bill have no fear mate

 

[Neiler]

Inter 3 [Poor language removed] 0

Club value drops £50 mil, sell Stevie G and Torres to make up the deficitl. The [Poor language removed] relegated next season, new ground plans scrapped as EFC refuse to share, club value drops by a further £150 mil liquidators called in by RBS [Poor language removed] deducted 10 points and are relegated. the [Poor language removed] now ground sharing with Tranmere Rovers lose derby game but look foward to playing Leeds

Is this a dream

If Carlesberg made Justice.........................!

 

[evertonianstu]

Came across my news ticker just a second ago.

Don't know what to make of it.

Me either! So, its Gilletts stake they are looking like acquiring?

 

[The Esk]

Me either! So, its Gilletts stake they are looking like acquiring?

DIC were about to acquire virtually all of Gillette's shares (98% to be precise) giving them 49% of the Company owning Liverpool FC. Hicks was to buy the other 1% giving him 51%.

When Hicks and Gillette bought Liverpool last year part of the agreement was that either could only sell shares if the other agreed. Therefore Hicks could, and has blocked Gillette's sale to DIC.

 

[monty]

DIC were about to acquire virtually all of Gillette's shares (98% to be precise) giving them 49% of the Company owning Liverpool FC. Hicks was to buy the other 1% giving him 51%.

When Hicks and Gillette bought Liverpool last year part of the agreement was that either could only sell shares if the other agreed. Therefore Hicks could, and has blocked Gillette's sale to DIC.

Could we say the DIC is [Poor language removed]