Not a billionaire. Worth ~£555 mil
That's £554,999,999 more than Kenwright is worth.
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Not a billionaire. Worth ~£555 mil
No thenNot a billionaire. Worth ~£555 mil
FWIW, if it happens then £200 m is a very good deal indeed for shareholders. Is it a good deal for the club? That depends upon what comes with the deal in terms of much needed additional investment.
People forget it's a consortium, apparently moore and noell are combined worth 1b.. and it's more investors than just those two, so it'd be in excess of 1-1.2b.Not a billionaire. Worth ~£555 mil
According to some Irish website that ran a story on Noell buying a 6m pound property in Ireland, described him as a billionaire from baltimorePeople forget it's a consortium, apparently moore and noell are combined worth 1b.. and it's more investors than just those two, so it'd be in excess of 1-1.2b.
Dollar billionaire perhaps? Navan wasn't it.According to some Irish website that ran a story on Noell buying a 6m pound property in Ireland, described him as a billionaire from baltimore
Football Governance - Culture, Media and Sport Committee
Leveraged buy outs
173. Limited companies can change ownership through a leveraged buyout (LBO). There are two relatively recent, and high profile, examples of this occurring in English football; at Liverpool by former Liverpool owners, US businessmen Gillett and Hicks, and at Manchester United by current owners, the US Glazer family. Highly leveraged buyouts in football can appear particularly problematic because the prospective owners borrow the money required to buy the club on the premise that they will then make the club responsible for servicing the debt.
174. For Andy Green:
Leveraged buyouts (LBOs) are in some ways even more problematic than borrowing in the hope of success on the pitch. […] With LBOs, clubs are saddled with debt solely to allow a particular party to take over the club. The club gains little or no benefit, no players are purchased, no facilities are built or improved.[234]
He also observed that the LBO model has not been limited to the high profile examples of Manchester United and Liverpool:
debt financing has been a material part of other purchases and subsequent problems of other football clubs including Portsmouth and Hull City as well as smaller clubs like Chesterfield. There is also suspicion that other 'equity financed' takeovers have actually been funded with debt (Notts County and Derby being recent examples).[235]
Andy Green accepted that, in "normal" industries, LBOs could possibly be defended on the grounds that they brought efficiencies and financial discipline to large companies. However, he argued that in a football context, they resulted in ticket price rises (to service interest costs) and reduced investment (for example, in Liverpool's case, deferral of plans to build a new stadium). It is also the case that, given the uncertainty of competition, some revenue streams cannot be guaranteed. Hence, Liverpool's failure to qualify for the riches of the Champions League contributed to a near default on its LBO debt, and the enforced sale of the club. According to Manchester United Supporters Trust, Manchester United had no debts before the LBO, but now "the amount of money required to finance the debt exceeds the club's operating profits".[236] Manchester United Chief Executive David Gill, however, denied that debt was an operational concern.[237] It is noteworthy that Manchester United has greater revenue-earning potential than Liverpool and, unlike Liverpool, its sporting performance has not dropped since the LBO.
175. Richard Scudamore observed, with regard to whether he disapproved of the LBO model: "If it was too highly leveraged, yes; if it was leveraged, not as good; if there was no leverage at all, obviously better".[238] William Gaillard, on behalf of UEFA, explained that:
What we are saying is that the leveraged buyouts ended up for many clubs in a disaster. Just take Liverpool. You have owners who came, contracted debt […] and saddled the club with the debt. The club has been rescued, thank God, because of the tremendous heritage that Liverpool actually represents, but it was a close call.[239]
UEFA was also clear that "the use of large levels of debt connected to leveraged buy outs […] in general appears to act as a burden, soaking up club's operating profits, whilst offering little merit to the club and their supporters".[240]
176. In all the evidence we have received, a whole-hearted defence of the use of leveraged buyouts to buy football clubs is entirely absent. Within a football context, the leveraged buyout appears to be a particularly risky vehicle with little obvious benefit, and certainly not to supporters and local communities.
What's that in dollars, about $830,000,000? Pauper. Not that it matters - I doubt you get to be that rich by spending your own money. There would be other investors involved, other ways to raise money.Not a billionaire. Worth ~£555 mil
Good point on the dollar bit, probably a billionaire USA but not GBPDollar billionaire perhaps? Navan wasn't it.
People forget it's a consortium, apparently moore and noell are combined worth 1b.. and it's more investors than just those two, so it'd be in excess of 1-1.2b.
According to some Irish website that ran a story on Noell buying a 6m pound property in Ireland, described him as a billionaire from baltimore
What's that in dollars, about $830,000,000? Pauper. Not that it matters - I doubt you get to be that rich by spending your own money. There would be other investors involved, other ways to raise money.
http://www.irishcentral.com/news/ba...state-for-63-million-207168671-237588821.htmlI can't find anything on Noell's net worth.
The share purchase may well not be leveraged as if both a ground and the buy out were leveraged FFP would probably be breached.
I'd say one or the other will be personally. There is actually a way of doing it by having a share issue of B shares which opens up the possibility of dividends being paid when the company has positive reserves. The down side is that dividend extraction is covered by FFP as well.
The old taxman first thing is now a bit of a myth and is the reason that HMRC take a hard line with Football Clubs, or is the very dim light at the back of my head switching to the fact that it is part of EPL rules.
No money owed to Johnson in the accounts.
Anglo American bid so certainly from a UK resident side the only conceivable advantage of an offshore holding company for the shares is currently a timing issue for CGT as if money were taken out and distributed, it would be taxed as income on the recipient if they were UK resident. Suppose you could put an offshore Trust in place to hold the shares in the holding company though.
Alder Hey thing - here's the link mate https://www.justgiving.com/GrandOldTeam
http://www.irishcentral.com/news/ba...state-for-63-million-207168671-237588821.html
As hibbos class mentioned he might be a billionaire in USD not pounds