Piijt
Player Valuation: £20m
Have a laugh lads.
From the Echo.
DUBAI International Capital is ready to make an offer for Tom Hicks’s stake in Liverpool FC.
The ECHO understands senior executives at the Dubai-based international investment company were given the go-ahead by Sheikh Mohammed Al Maktoum to launch a second bid to buy into Liverpool in a year.
An offer has been agreed in principle.
Co-owners Hicks and Gillett are edging closer to clinching a refinancing deal.
But DIC are hoping to make a move before any deal is completed.
Hicks and Gillet enjoyed a honeymoon period after their acquisition of the Reds.
But recent revelations they talked to Jurgen Klinsmann about the possibility of replacing the hugely popular Rafael Benitez as manager have led to them falling out of favour with the Liverpool fans.
While the financial restructuring deal, which would give them the necessary collateral to fund the building of the long-awaited new stadium, remains incomplete, DIC believe a window of opportunity still remains open to them.
New owners George Gillett (left) and Tom Hicks at Anfield
Whether Hicks is willing to sell is another matter entirely.
The Dallas-based multi-millionaire is on record saying he is not interested in selling his stake, even though there are tensions between himself and Gillett about the proposed refinancing deal.
In a recent interview with the ECHO Hicks said: “I just want to clear up with you that I am not selling any of my shares to anybody.
“I have no idea why anyone would think that. It was just rubbish.”
But with Sheikh Mohammed, one of the world’s richest men, now back on the scene Hicks looks likely to face some tough decisions in the days to come.
On the one hand a deal with DIC could present him with a sizeable return on his initial investment and an opportunity to walk away from the dual problems of securing the necessary loans to service their own debt, fund the new stadium and winning the fans over all over again.
But, on the other, there may be a reluctance to part with an asset which he fought so hard to acquire, one which he firmly believes can pay dividends in the long term.
Hicks insists financial restructuring could be complete within days, and if he is proven right it will make an immediate offer from DIC less likely.
The American pair have six weeks to secure a £350m loan that would refinance their original purchase of the club.
Hicks recently told the ECHO he hopes a deal can be signed off with the Royal Bank of Scotland and the US investment bank Wachovia by the middle of next week.
If, as expected, DIC follow up their interest with a firm bid the ownership of Liverpool FC could change for the second time in a year.
Club officials said today: “We do not comment on speculation.
Anfield fans in fear as Liverpool's future is on knife edge
DURING an exhaustive search for investment in Liverpool Football Club Reds chief executive Rick Parry spoke of the need for any deal to be absolutely right.
“You can only sell the family silver once,” he famously remarked.
Today Liverpool are facing up to the previously unimaginable possibility of half of the family silver being sold for the second time in less than a year – if Tom Hicks is willing to sell.
DIC loom large on the Anfield horizon again.
After missing out to Hicks and George Gillett last time around Sheikh Mohammed Al Maktoum is understood to be ready to do everything in his power to ensure it does not happen again.
Crown Prince of Dubai, Sheikh Mohammed bin Rashid Al Maktoum
But despite being one of the richest men in the world Sheikh Mohammed does not use his immense wealth to pay over the odds for any business.
When he was beaten to the punch by Hicks and Gillett last February one of his most trusted aides told the world bluntly “we won’t overpay for assets”.
So, if a deal is to be struck, it must suit all parties.
DIC chief executive and self-confessed Liverpool fan Sameer Al Ansari intimated the investment vehicle’s interest in the club ended when Hicks and Gillett took control.
But in reality their interest has never really gone away.
In the autumn they entered into talks with Hicks and Gillett with a view to snapping up a minority share of between 10-20% - only for any potential deal to founder on the Americans’ £1bn valuation of the club.
Now they are looking at setting up a deal in which they would buy, at the very least, a 50% share in Liverpool.
A firm bid could be forthcoming within days.
It is undoubtedly decision time for Hicks and Gillett who thought they had seen off DIC’s interest once and for all when they paid £218.9m for Liverpool last February.
But since then plans to refinance their initial purchase and pay for the long-awaited new Anfield with a new loan running into hundreds of millions of pounds have been slowed down by the American credit crunch making borrowing money much more difficult than it was 12 months ago.
There has also been a reticence from honorary life president and former chairman David Moores and Parry to sign up to a refinancing package which will plunge the club into hundreds of millions of pounds of debt.
As progress has stalled DIC has stepped up its long-standing interest and it is now ready to pounce.
Their desire is understood to have been fuelled by speculation Moores is becoming increasingly minded he should have gone with DIC rather than Hicks and Gillett when both parties put forward rival bids last year.
The fact Liverpool fans displayed their displeasure with the way the club is being run by the American pair at Anfield on Tuesday night did not go unnoticed in Dubai.
Banners unfurled on the Kop during the FA Cup tie against Luton Town sent an SOS to DIC and there were several negative chants directed at Hicks and Gillett.
It could be that, like his fellow countryman, Man United owner Malcolm Glazer, Hicks is prepared to ride out any storm of controversy whipped up by unsettled fans.
But as a businessman of international repute, he will also be aware such naked negativity from his customers is not sustainable in the long term.
Liverpool’s very future is today on a knife edge.
The family silver could be up for grabs again.
Although it is still too early to tell whether it will eventually change hands, DIC are certainly ready to test the water.
Aims and assets of DIC
DUBAI International Capital (DIC) was established in October 2004 as the international investment arm of Dubai Holding.
The purpose of DIC is to create a return for its shareholder Dubai Holding and its ultimate shareholders, the ruling family of the Emirate of Dubai.
Its assets and investments include:
Travelodge – the UK budget hotel group was purchased in 2006 for £675m.
Mauser Group – the German industrial packaging company – one of the world’s leaders in its field – bought in June last year for 850m Euros.
A 3% stake in Sony acquired for $1.5bn.
A substantial stake in HSBC.
A 2% stake in German carmaker Daimler. which cost $1bn
A $1.25bn stake in the New York hedge fund Och-Ziff.
From the Echo.
DUBAI International Capital is ready to make an offer for Tom Hicks’s stake in Liverpool FC.
The ECHO understands senior executives at the Dubai-based international investment company were given the go-ahead by Sheikh Mohammed Al Maktoum to launch a second bid to buy into Liverpool in a year.
An offer has been agreed in principle.
Co-owners Hicks and Gillett are edging closer to clinching a refinancing deal.
But DIC are hoping to make a move before any deal is completed.
Hicks and Gillet enjoyed a honeymoon period after their acquisition of the Reds.
But recent revelations they talked to Jurgen Klinsmann about the possibility of replacing the hugely popular Rafael Benitez as manager have led to them falling out of favour with the Liverpool fans.
While the financial restructuring deal, which would give them the necessary collateral to fund the building of the long-awaited new stadium, remains incomplete, DIC believe a window of opportunity still remains open to them.
New owners George Gillett (left) and Tom Hicks at Anfield
Whether Hicks is willing to sell is another matter entirely.
The Dallas-based multi-millionaire is on record saying he is not interested in selling his stake, even though there are tensions between himself and Gillett about the proposed refinancing deal.
In a recent interview with the ECHO Hicks said: “I just want to clear up with you that I am not selling any of my shares to anybody.
“I have no idea why anyone would think that. It was just rubbish.”
But with Sheikh Mohammed, one of the world’s richest men, now back on the scene Hicks looks likely to face some tough decisions in the days to come.
On the one hand a deal with DIC could present him with a sizeable return on his initial investment and an opportunity to walk away from the dual problems of securing the necessary loans to service their own debt, fund the new stadium and winning the fans over all over again.
But, on the other, there may be a reluctance to part with an asset which he fought so hard to acquire, one which he firmly believes can pay dividends in the long term.
Hicks insists financial restructuring could be complete within days, and if he is proven right it will make an immediate offer from DIC less likely.
The American pair have six weeks to secure a £350m loan that would refinance their original purchase of the club.
Hicks recently told the ECHO he hopes a deal can be signed off with the Royal Bank of Scotland and the US investment bank Wachovia by the middle of next week.
If, as expected, DIC follow up their interest with a firm bid the ownership of Liverpool FC could change for the second time in a year.
Club officials said today: “We do not comment on speculation.
Anfield fans in fear as Liverpool's future is on knife edge
DURING an exhaustive search for investment in Liverpool Football Club Reds chief executive Rick Parry spoke of the need for any deal to be absolutely right.
“You can only sell the family silver once,” he famously remarked.
Today Liverpool are facing up to the previously unimaginable possibility of half of the family silver being sold for the second time in less than a year – if Tom Hicks is willing to sell.
DIC loom large on the Anfield horizon again.
After missing out to Hicks and George Gillett last time around Sheikh Mohammed Al Maktoum is understood to be ready to do everything in his power to ensure it does not happen again.
Crown Prince of Dubai, Sheikh Mohammed bin Rashid Al Maktoum
But despite being one of the richest men in the world Sheikh Mohammed does not use his immense wealth to pay over the odds for any business.
When he was beaten to the punch by Hicks and Gillett last February one of his most trusted aides told the world bluntly “we won’t overpay for assets”.
So, if a deal is to be struck, it must suit all parties.
DIC chief executive and self-confessed Liverpool fan Sameer Al Ansari intimated the investment vehicle’s interest in the club ended when Hicks and Gillett took control.
But in reality their interest has never really gone away.
In the autumn they entered into talks with Hicks and Gillett with a view to snapping up a minority share of between 10-20% - only for any potential deal to founder on the Americans’ £1bn valuation of the club.
Now they are looking at setting up a deal in which they would buy, at the very least, a 50% share in Liverpool.
A firm bid could be forthcoming within days.
It is undoubtedly decision time for Hicks and Gillett who thought they had seen off DIC’s interest once and for all when they paid £218.9m for Liverpool last February.
But since then plans to refinance their initial purchase and pay for the long-awaited new Anfield with a new loan running into hundreds of millions of pounds have been slowed down by the American credit crunch making borrowing money much more difficult than it was 12 months ago.
There has also been a reticence from honorary life president and former chairman David Moores and Parry to sign up to a refinancing package which will plunge the club into hundreds of millions of pounds of debt.
As progress has stalled DIC has stepped up its long-standing interest and it is now ready to pounce.
Their desire is understood to have been fuelled by speculation Moores is becoming increasingly minded he should have gone with DIC rather than Hicks and Gillett when both parties put forward rival bids last year.
The fact Liverpool fans displayed their displeasure with the way the club is being run by the American pair at Anfield on Tuesday night did not go unnoticed in Dubai.
Banners unfurled on the Kop during the FA Cup tie against Luton Town sent an SOS to DIC and there were several negative chants directed at Hicks and Gillett.
It could be that, like his fellow countryman, Man United owner Malcolm Glazer, Hicks is prepared to ride out any storm of controversy whipped up by unsettled fans.
But as a businessman of international repute, he will also be aware such naked negativity from his customers is not sustainable in the long term.
Liverpool’s very future is today on a knife edge.
The family silver could be up for grabs again.
Although it is still too early to tell whether it will eventually change hands, DIC are certainly ready to test the water.
Aims and assets of DIC
DUBAI International Capital (DIC) was established in October 2004 as the international investment arm of Dubai Holding.
The purpose of DIC is to create a return for its shareholder Dubai Holding and its ultimate shareholders, the ruling family of the Emirate of Dubai.
Its assets and investments include:
Travelodge – the UK budget hotel group was purchased in 2006 for £675m.
Mauser Group – the German industrial packaging company – one of the world’s leaders in its field – bought in June last year for 850m Euros.
A 3% stake in Sony acquired for $1.5bn.
A substantial stake in HSBC.
A 2% stake in German carmaker Daimler. which cost $1bn
A $1.25bn stake in the New York hedge fund Och-Ziff.
