Hicks and Gillette lose in court...

[Stat Brother]

Where they ever heralded a 'the saviours of Liverpool'.
I can't remember but listening to ALL the fan, recently you'd think they were all anti right from day one.

 

[Gordon Bennett]

I can't understand why Moores and Parry aren't getting more stick, they were the two clowns who set up the deal to let the Yanks in in the first place. It seems as though it was fairly common knowledge in business circles that H&G's business model was to borrow heavily and put all the debt onto the ventue they were buying.

Maybe, just maybe this whole sorry saga will help to bring some sanity back into football finance?

 

[Bold Seagull]

£10 million NET spend.

Not £78m as featured in the Telegraph!?

http://www.telegraph.co.uk/sport/football/teams/liverpool/7675751/Rafael-Benitezs-transfer-dealings-during-his-six-year-reign-at-Liverpool.html

Or £111.39m as featured in Times!?

http://www.timesonline.co.uk/tol/sport/football/premier_league/article5946946.ece

Or over a 5 year period the BBC has it at £82.5m

http://news.bbc.co.uk/sport1/hi/football/eng_prem/7956396.stm

Where exactly have you got this £10m net spend over his entire reign from!?

 

[Chicken Runner61]

Not £78m as featured in the Telegraph!?

http://www.telegraph.co.uk/sport/football/teams/liverpool/7675751/Rafael-Benitezs-transfer-dealings-during-his-six-year-reign-at-Liverpool.html

Or £111.39m as featured in Times!?

http://www.timesonline.co.uk/tol/sport/football/premier_league/article5946946.ece

Or over a 5 year period the BBC has it at £82.5m

http://news.bbc.co.uk/sport1/hi/football/eng_prem/7956396.stm

Where exactly have you got this £10m net spend over his entire reign from!?

He's probably talking about what the loss will be if they sold Torres f sayetc.

Thats all very well if they got what they think they are worth but the way they (including Torres) are playing they will be lucky to get anywhere near that

 

[Aldo]

Was about a NET spend of £10 million each summer, is what i meant

 

[Uwinsc]

The lose is probably going to be more than 140 million now as they have been ordered to pay all cost from the court case including for RBS lawyer (and that isn't going to be cheap!).
I'm pleased they are all most certainly out partly because it makes my sister a nicer person to live with and partly because I think it's bad for football to have any club owned by people who are only intrested in making money.

 

[newhaven seagull 85]

The lose is probably going to be more than 140 million now as they have been ordered to pay all cost from the court case including for RBS lawyer (and that isn't going to be cheap!).
I'm pleased they are all most certainly out partly because it makes my sister a nicer person to live with and partly because I think it's bad for football to have any club owned by people who are only intrested in making money.

most higher league clubs are owned by people who want to make money.
infact i'm sure that the new owners of liverpool are not going in to help the community but to help there own bank balance.

 

[Paynaldinho]

good riddance

 

[16bha]

Although I couldn't really give a toss, I have to admit, in the defence of Hicks and Gilette, that I too would battle it out in the courts if it meant losing tens of millions of pounds.

 

[Chicken Runner61]

Apparently Hicks has been to court in Texas and a judge there has granted an injunction saying the ruling here is a swindle and cannot go ahead!!!

Much as I dislike Hicks & Gillette and what they stand for it does seem unfair that as owners they can't say who they should sell to!

 

[Aldo]

Apparently Hicks has been to court in Texas and a judge there has granted an injunction saying the ruling here is a swindle and cannot go ahead!!!

Much as I dislike Hicks & Gillette and what they stand for it does seem unfair that as owners they can't say who they should sell to!

They signed the rights over to Broughton. Theses idiots have no dignity and will lose in the next month they may as well give up.

 

[e77]

How can a court in Texas stop the sale of a British business?

 

[vegster]

Although I couldn't really give a toss, I have to admit, in the defence of Hicks and Gilette, that I too would battle it out in the courts if it meant losing tens of millions of pounds.

With respect, I think that because their "ownership" of Liverpool is based on borrowed capital, they have a cheek

 

[Giraffe]

How can a court in Texas stop the sale of a British business?

I blame JR Ewing

 

[Chicken Runner61]

How can a court in Texas stop the sale of a British business?

Its a British business owned by two Americans who are major shareholders.

 

[beorhthelm]

Much as I dislike Hicks & Gillette and what they stand for it does seem unfair that as owners they can't say who they should sell to!

They signed the rights over to Broughton.

they agreed to conditions for their loan with RBS for two other board members with equal voting rights. thats what the court case was essentiall about, they lost. share ownership does not automatically mean they have full rights in all decision making. As of Friday they dont anyway, if RBS wanted to place them in adminstration.

Its a British business owned by two Americans who are major shareholders.

a british buinsess operating wholey in the UK, so US courts have no jurisdiction. it might mean the directors of Liverpool FC cannot travel to the US in case they face charges there, but otherwise a meaningless waste of everyones time (except the US lawyers picking up some fees).

on seeing the other injuction news, it might impact on RBS or the incoming owners. i read about the texan courts getting involved in all sorts of disputes in the tecnology arena, they'll issue an injucntion for turning up and asking for one but you rarely hear anything of the outcome.

 

[sten_super]

a british buinsess operating wholey in the UK, so US courts have no jurisdiction. it might mean the directors of Liverpool FC cannot travel to the US in case they face charges there, but otherwise a meaningless waste of everyones time (except the US lawyers picking up some fees).

on seeing the other injuction news, it might impact on RBS or the incoming owners. i read about the texan courts getting involved in all sorts of disputes in the tecnology arena, they'll issue an injucntion for turning up and asking for one but you rarely hear anything of the outcome.

Agreed, they have little jurisdiction but the issue is that RBS have significant US interests and will not endanger those by being held in contempt of a US court.

It is clear that this is simply a stalling device being used by Gillette and Hicks, the thing I don't understand is why, as surely as soon as we reach Friday RBS can simply take ownership of the club and sell to whoever they want; why is it in Gillette and Hicks' interest to stop the sale going through?

 

[BensGrandad]

Has the offer from the otrher chap Lim? been considered or will it be or just pushed under the table so that the owners of Red Sox can buy them.

 

[Kinky Gerbil]

If its not sold by tomorrow there is a chance of a points deduction and the other yanks losing interest, maybe thats what they are hoping for

 

[Bold Seagull]

Agreed, they have little jurisdiction but the issue is that RBS have significant US interests and will not endanger those by being held in contempt of a US court.

It is clear that this is simply a stalling device being used by Gillette and Hicks, the thing I don't understand is why, as surely as soon as we reach Friday RBS can simply take ownership of the club and sell to whoever they want; why is it in Gillette and Hicks' interest to stop the sale going through?

Not just RBS, but of course the prospective purchasers are American, and so they don't want to be in breach of a US court either. RBS wouldn't be in breach as they are not actually ratifying the sale, they have simply argued for the Liverpool board being able to sell as was set out in the conditions of their loans to LFC. Not sure how this injunction will effect things if LFC turn to Lim's bid instead.