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Old 6th October 2010, 03:45 PM   #1 (permalink)
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Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and Gill

Crisis club Liverpool have agreed to sell up to US company New England Sports Ventures in a move that is set to end of the reign of Tom Hicks and George Gillett.
The deal is now subject to Premier League approval and the resolution of an incredible board row on Tuesday night that shed more light on the mess the club is currently in



Reds chairman Martin Broughton said: 'I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive.
'The board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner. NESV's philosophy is all about winning and they have fully demonstrated that at the Red Sox.
'We've met them in Boston, London and Liverpool over several weeks and I am immensely impressed with what they have achieved and with their vision for Liverpool Football Club.
American dream went wrong: Hicks and Gillett never won over the Kop faithful
'By removing the burden of acquisition debt, this offer allows us to focus on investment in the team. I am only disappointed that the owners (Tom Hicks and George Gillett) have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale.'
NESV owns a portfolio of companies including the Boston Red Sox. The team are owned by John William Henry ll, a hedge fund specialist with a net fortune of around £545m who is determined to expand his sporting interests by buying out current owners.

Henry is understood to have placed negotiations in the hands of the baseball club's chief executive Larry Lucchino, who specialises in franchises planning to build new stadiums and is said to have held talks with Anfield's under-fire hierarchy.
Lucchino's involvement will enhance the prospects of a deal with the Red Sox, since Broughton and Purslow have insisted all along that any prospective purchaser must give an undertaking to proceed with the construction of a new ground at Stanley Park.

Henry was behind the takeover of the Red Sox for close on £420m in 2002, and they have since won two World Series. But worryingly for long-suffering Liverpool followers, Henry has courted controversy at times.

He caused uproar in 2006 by proposing a change of kit and 200 per cent ticket price hike, while some leading American publications have questioned the company founded by the Illinois-born 61-year old.
The Boston Magazine reported in March 2006 that it had encountered 'difficulties', while, a year later, the Wall Street Journal and Bloomberg noted further problems with the firm.

The on-going boardroom battle between American owners Hicks and Gillett and their England-based colleagues escalated to dramatic new levels on Tuesday night.





With news of two new 'excellent' bids having been received, the pair, led primarily by Hicks, attempted to sack managing director Christian Purslow and commercial director Ian Ayre from the board minutes before a meeting to discuss the new offers.
The move was intended to allow the Americans to regain control of the sale process, handing them the final say on any offer.
Hicks and Gillett wanted to install Mack Hicks, one of Tom's sons, and Lori Kay McCutcheon, financial controller at Hicks Holdings. This was rebuffed as the two club officials, backed by chairman Broughton, out-voted the Americans three to two.
The club issued an unprecedented statement detailing the saga in which they also revealed this boardroom issue was now the subject of a legal review.

However, the statement pointedly went on to stress that Broughton, Purslow and Ayre would 'continue to explore every possible route to achieving a sale of the club at the earliest opportunity'.
There has been a division on the board from the moment Hicks and Gillett announced in April they wanted to end their three-year tenure at Anfield, but that split has turned into a chasm.
Broughton was appointed as independent chairman as part of the sale process, ensuring the Americans no longer had a majority vote and could not prevent a sale that was in the best interests of the club.



Central to the whole saga has been next week's looming deadline for the repayment or refinancing of £282million of loans - owed principally to the Royal Bank of Scotland.
Hicks has been trying to hold on to power by attempting to raise capital to pay off or reduce the debt but has so far been unsuccessful.

He remained steadfast in his belief there was a profit to be made from the sale of Liverpool but, with the prospect of RBS having to call in their debt and possibly take control at Anfield, the price the club is actually worth has been falling by the week.

The Americans know if the bank steps in then they will receive nothing, hence the move to restructure the board to buy them more time.
A statement from the pair on Tuesday read: 'In April, we confirmed our agreement to sell Liverpool Football Club, and appointed a new chairman and advisers to oversee the process.
'At that time we and Martin Broughton stated our commitment to finding the right buyer for LFC, one that could support and sustain the club in the future. We remain committed to that goal.
'The owners have invested more than 270 million US dollars in cash into the club, and during their tenure revenues have nearly doubled, investment in players has increased and the club is one of the most profitable in the EPL.

'As such, the board has been presented with offers that we believe dramatically undervalue the club.



'To be clear, there is no change in our commitment to finding a buyer for Liverpool Football Club at a fair price that reflects the very significant investment we've made. We will, however, resist any attempt to sell the club without due process or agreement by the owners.'
But with the trio based in England determined to push through the sale and the overtly-positive terminology used to described the two bids - the first time the club have officially confirmed formal interest - it appeared to be the beginning of the end for Hicks and Gillett.

The only stumbling block which may delay the process is the legal review and uncertainty over the status of the current Liverpool board.

The latest statement from the club confirmed the sale was 'conditional on Premier League approval, resolution of the dispute concerning board membership and other matters'.
As well as the Boston Red Sox baseball team, NESV also owns New England Sports Network, Fenway Sports Group and Rousch Fenway Racing.
Liverpool are also in mess on the pitch. They are currently stuck in the Barclays Premier League relegation zone, while they were also knocked out of the Carling Cup at home to League Two minnows Northampton.
And after another humiliating defeat to Blackpool at Anfield on Sunday, fans called for the return of legend Kenny Dalglish with manager Roy Hodgson under increasing pressure.

Source: http://www.dailymail.co.uk/sport/foo...-Ventures.html

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Old 6th October 2010, 03:53 PM   #2 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

wtf man..i was scrolling down and i see that H&G faces.Feel like punching them . LOL haha~

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Old 6th October 2010, 04:04 PM   #3 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

Lets hope after this, Liverpool will be on the road of recovery and become a force to reckon with.

But first they must improve on their performances on the pitch.

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Old 6th October 2010, 08:01 PM   #4 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

Yes at the moment owner issues, then manager & players issue.

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Old 6th October 2010, 08:15 PM   #5 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

All the best to them

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Old 9th October 2010, 04:56 PM   #6 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

Thanks

Just received some info regarding H+G spending 152M pound in total for transfer and get back 142M pound through player sales, with a net spent of only 10M pound. 3 yrs under H+G Rafa only spend 10M net, impressive feat

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Old 10th October 2010, 12:29 AM   #7 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

and we might be facing 9 points deduction.. zz

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Old 10th October 2010, 01:47 PM   #8 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

Dont kan chiong, all this thing about 9pt deduction & Nesv possibly pull out is just another stunt by Broughton to put pressure on H+G & RBS. I believe it will turn out good

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Old 10th October 2010, 01:57 PM   #9 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

I dun think will get 9 points deduction. The new owners will surely prevent this, else their investment gg liao. Hope liverpool will improve and kick man city out of big four. (I am a man utd fan btw, but I hate man city more than liverpool)

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Old 10th October 2010, 02:16 PM   #10 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

Originally Posted by zenite View Post
I dun think will get 9 points deduction. The new owners will surely prevent this, else their investment gg liao. Hope liverpool will improve and kick man city out of big four. (I am a man utd fan btw, but I hate man city more than liverpool)
Kick us out of Champions league spot? I think you forgot that Liverpool are in the relegation zone now and we are in 2nd, ABOVE manure

Edit: And fyi, adminstration will only be caused if Hicks and Gillett wins the legal battle in 2 days time because the due date of RBS is Oct 15 owed by Kop Holdings, and as Kop Holdings only manage Liverpool and nothing else, unlike West Ham, it will induce a 9-point penalty according to PL rules.

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Old 10th October 2010, 04:15 PM   #11 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

Originally Posted by DoraTheExplorer View Post
Kick us out of Champions league spot? I think you forgot that Liverpool are in the relegation zone now and we are in 2nd, ABOVE manure

Edit: And fyi, adminstration will only be caused if Hicks and Gillett wins the legal battle in 2 days time because the due date of RBS is Oct 15 owed by Kop Holdings, and as Kop Holdings only manage Liverpool and nothing else, unlike West Ham, it will induce a 9-point penalty according to PL rules.
I think you forgot that your club bought that place 2 years ago.

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Old 11th October 2010, 10:04 PM   #12 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

Originally Posted by DoraTheExplorer View Post
Kick us out of Champions league spot? I think you forgot that Liverpool are in the relegation zone now and we are in 2nd, ABOVE manure

Edit: And fyi, adminstration will only be caused if Hicks and Gillett wins the legal battle in 2 days time because the due date of RBS is Oct 15 owed by Kop Holdings, and as Kop Holdings only manage Liverpool and nothing else, unlike West Ham, it will induce a 9-point penalty according to PL rules.
Typical Man City supporter haiz...I would laugh my @ss out if Man City fails to hit the top 4 at the end of the season despite the fact of having a rich owner.

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Old 11th October 2010, 11:59 PM   #13 (permalink)
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Re: Deal! Liverpool board agree to sell up to New England Sports Ventures as hate figures Hicks and

Originally Posted by zenite View Post
I dun think will get 9 points deduction. The new owners will surely prevent this, else their investment gg liao. Hope liverpool will improve and kick man city out of big four. (I am a man utd fan btw, but I hate man city more than liverpool)
Not just the new owner, RBS & EPL are all concerned. Why would they want one of their most successful club known in the world go down this way? Once our issue solved, the attention will be United.

Originally Posted by DoraTheExplorer View Post
Kick us out of Champions league spot? I think you forgot that Liverpool are in the relegation zone now and we are in 2nd, ABOVE manure

Edit: And fyi, adminstration will only be caused if Hicks and Gillett wins the legal battle in 2 days time because the due date of RBS is Oct 15 owed by Kop Holdings, and as Kop Holdings only manage Liverpool and nothing else, unlike West Ham, it will induce a 9-point penalty according to PL rules.
I think the season is still young. 7th game only right? I think it will be better to gauge your position with United after new year. I still wondering how much $$ is needed to bring City to CL spot, from takeover till now 2 yrs already right?

For your info, the legal battle will be against H+G versus RBS, overclaim whether H+G has the rights to change the board.

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