Liverpool Football Club Prepares For The Takeover End Game


Ian began writing Twohundredpercent in May 2006. He lives in Brighton. He has also written for, amongst others, Pitch Invasion, FC Business Magazine, The Score, When Saturday Comes, Stand Against Modern Football and The Football Supporter. Ian was the first winner of the Socrates Award For Not Being Dead Yet at the 2010 NOPA awards for football bloggers.

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9 Responses

  1. alangky(Singapore) says:

    Not another Yank pls. They’ve proven how trustworthy they are and we’ve had enuf of that.

  2. Zahid says:

    I wouldn’t trust another Yank unless he has huge amounts of his own money and is willing to put it in the club. John W Henry was only worth 1.1 billion dollars in 2009, this means he will also probably get loans to purchase the club and buy a stadium with loans. If im right it would cost 300-350 million for the club, plus 400-500 for a new stadium and then you have transfer kitty for new players, are you telling me this guy would pay his total of what hes worth on us i doubt that very much, and if he did where would the rest of the money come from for the future running of the club???? Maybe he wants to buy to sell it on for a profit aswell. The Asian consortiam sounds better but we need to find out more about them aswell, the future of our club is in the balance here. The following is the link of how much John W. Henry was worth as of April 1 2009 (This wasn’t know Aprils fools joke either) you can also read about him in the, who have stated he was worth 1.1 billion in 2009 but now is worth around 900 million.

  3. Mish says:

    Due diligence has already been completed by both of the bidding parties.

    The meeting held in London yesterday was to discuss the acceptance of the approved bid.

    It is believed that Broughton, Purslow and Ayre expected the two Yanks to behave how they have and the board members are believed to have employed Slaughter & May to resolve the situation and resolve it they will.

  4. axmed says:

    This is the best and last oportunity to sell the club. I would say to members to ignore stupid owners and sell the ream as soon as passible.

  5. Borys says:

    How can a company’s board sell a company against the wishes of the owners?

  6. kruador says:

    Borys: by issuing enough new voting shares to dilute the existing owners’ holdings down to below 50% plus one share. The proceeds of selling those shares go into the company’s capital fund, there’s no recourse for any owners.

    Owning a company means owning enough shares to appoint enough directors to be certain of winning any votes of the board. Hicks and Gillett are no longer on the board itself: they gave up that right on the insistence of RBS, I believe, and their nominated directors aren’t voting the way that the owners of the shares want. That’s why they’re trying to replace the directors. It would require an Extraordinary General Meeting to replace the board, and I think that would need 14 days’ notice or the agreement of the board, or of 95% of the voting share capital. (I’m looking at the model Articles of Association attached to the Companies Act 2007, rather than Kop Holdings’ actual Articles.) I’m not sure how much of the share capital Hicks and Gillett actually own.

    Once you own more than 30% of the shares of a company, you must make a bid for the remaining shares or reduce your share back below 30%. If the bid results in over 50% of the shares being owned, you have control. If you own more than 90% you can purchase all the outstanding shares. Obviously you can then hold your EGM, vote in your own board, and do whatever you like.

  7. Borys says:

    Thank you the explanation.

  8. Albert Ross says:

    @Zahid – One of the things that you should ask as well is “why would anyone want to put in several hundred million into a football club?” The ONLY realistic answer is that it is some form of long-term investment – unless you are talking someone in the Roman Abramovic levels of the Super-Rich. Logically then the questions become ones concerning business plan, how the purchase is been funded etc – such as the Glazers at Man Utd. Some of the American sports (sic) moguls are interested because they see potentially huge sums of money around; I can’t imagine any other investors not wanting a return somehow.

    The problem is that us fans tend to not want to see dividends being paid out etc – we want to see any profits ploughed back in to increase the chance of success on the field. The two things are almost diametrically opposed – but with the top clubs now at the stage where not just a multimillionaire but a multibillionaire is needed as benefactor to keep things running smoothly, if there isn’t one around running as a profitable business is the only other viable option….

  1. October 6, 2010

    […] Liverpool Football Club Prepares For The Takeover End Game Tom Hicks, George Gillett “The day started with a co-ordinated attempt to saturate the American media with a video decrying the behaviour of the – for the time being – owners of their club, but it has ended with something even more extraordinary with a statement of near-unprecedented bluntness on the official club website which seems to indicate a state of near civil war at boardroom level. Welcome to the world of Liverpool Football Club in October 2010. As long time observers will be aware, October the 15th is said to be the deadline for George Gillett and Tom Hicks to secure the funding to complete their takeover of the club, in the face of increasingly militant objections from supporters’ groups but, with only a week and a half left before the bank can step in and take control of the club, hopes of a clear resolution to the issue of the future of the club are being clouded by a situation that is rapidly starting to resemble chaos.” (twohundredpercent) […]

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