Reds still held to ransom by outrageous asking price

When Liverpool co-owner Tom Hicks reportedly put a figure as high as £800m on the club shortly after he and George Gillett had put it up for sale it shattered any illusion that the owners had finally admitted it was time to move on.

Gillett Hicks RBSLater figures suggested demands as ‘low’ as £500m – but were still some way short of what was on offer from the only known bidder for the club.

Although Huang had initially suggested his offer would be no higher than £325m his eventual offer is believed to have been £400m. Despite being more than double the price paid by the current owners in 2007 it would still leave them without any profit to speak of. Annual profits have all been eaten up to cover the high costs of the club’s RBS debt.  The last official figure on that debt is £237m; by the time the next attempt to refinance is due, in October, it will be nearer £300m.

On top of the debt to the bank is the debt to the owners. Rather than putting any money in as equity they put their money in as intercompany loans that they slap an annual interest rate of 10% onto. This figure stood at around £130m the last time it was officially revealed.

Hicks is said to expect potential revenues from a stadium yet to be built added onto the asking price. He can’t take the risk on the project himself yet expects a premium to allow others to do so. Most observers are astounded at these demands.

£400m is seen as paying well above the club’s true worth.

Getting Hicks to accept a realistic offer for the club has been seen as the biggest stumbling block for any takeover since DIC first returned to attempt a takeover late in 2007. Martin Broughton’s appointment as an independent chairman was expected to address that issue, his control over the sales process was claimed to include making a decision on what constitutes an acceptable price.

But doubts about how independent Broughton actually is are beginning to rise.

The lack of any official response to Kenny Huang’s statement is telling. And Broughton had no problem speaking to the media after Huang had first made his interest known publicly.

The Hicks camp were said to have shown much delight at the imminent appointment of Broughton back in April amidst reports that former Citigroup executive Michael Klein had been involved in persuading the BA chairman to take the task on. Klein’s links to Barclays Capital (he was involved in their acquisition of New York’s Lehman Brothers) were also said to have been a key factor in BarCap’s agreement to run the sales process for Broughton.

Hicks is said to be close to Klein, a long-time associate, and Klein was expected to act as an adviser to Gillett and Hicks as the auction of the club progressed.

The statement the club put out to announce Broughton’s arrival made it clear what his main role was going to be: “The new Chairman will oversee a formal sale process launched by current owners.

“Following numerous expressions of interest from third parties, the Club has engaged Barclays Capital to advise on the sale process. The Club has the full support of its existing bankers for this process and has financing in place which will fully support the Club’s operations.”

The statement also made another promise: “The Club will continue to progress the well-advanced plans for a new, larger, and state-of-the-art stadium which will form an exciting part of the club’s future development.” The club has not made any noticeable progress on those plans. The shovels remain unused. In fact the shovels are still in the shop.

Another promise made was that Hicks and Gillett were looking to sell to “owners committed to take the Club through its next level of growth and development” and that Broughton would “oversee the sales process in the best interests of the Club and its supporters.”

Broughton himself made promises too: “I will run this sale process in the right way, for the benefit of the Club and its fans.”

After the statement came a number of interviews and more of the right kind of words from Broughton: “Whoever comes in has to be the right owner and the board will ensure that we make the right decision,” he insisted.

But he also made it clear that he wasn’t acting just for the supporters or the club: “We will make it very clear what the buyer needs to do from the point of view of the supporters, and Tom Hicks and George Gillett will make clear to us what they are looking for in terms of price.”

And perhaps that is key to why the process has stalled. Did Broughton concede more control to the owners over the sale price than he has claimed in subsequent interviews?

At that time he wasn’t insisting on new owners coming in and taking away the debt: “We will look at every offer that comes in for the club. We are ruling nothing out, but when you look at what we have said we want from a buyer it is very different [to 100% debt]. That sort of bid is not going to be particularly attractive and we would need to be persuaded that it was in the best interests of the club.

“Some debt is inevitable, given the plans for a new stadium, and it would be foolish to run a club like Liverpool with no debt. You would be mismanaging the balance sheet, but there is a major difference between some debt and a hundred percent debt.”

Two-and-a-half months later and Broughton admitted there was yet to be a bid for the club. “There have not been any offers at this stage,” he said. “There haven’t been any offers to turn down and I wouldn’t have expected there to have been at this stage. There are a number of interested parties, but there’s no specific deadline on it. We are looking to the middle of July-ish for the first round of bids but that’s not a final stage – that’s a first entry through.”

So based on getting that first round of bids in by mid-July Broughton had a target for getting the whole deal done: “We’re hopeful – and I wouldn’t put it any stronger than that – that a deal can be done by the end of the transfer season. That was always from the outset a hope rather than necessarily an expectation, because these things can take time. We are on course, pretty well, with where we would have expected to be.”

As it was he still hadn’t had a single bid by mid-July. By the middle of August he’d had at least one bid, with proof of funds included. Yet he was still sending out the message that it would take until October to finalise the process. It’s little wonder Huang was unimpressed.

By now Broughton was denying that the owners could name their price: “The owners can’t block the sale of the club. I read all too frequently numbers being floated about in the media, normally associated with Tom Hicks’ name. I would like to make it clear there is no number. There is no base line.” Not quite what he’d said in April.

He went on to explain what kind of bid would win: “This is a willing buyer, willing seller auction. We will do a deal with what we consider to be the best bidder. The best bidder may not be the highest bidder.”

And then came the claims that in light of last night’s developments seem some way off the truth: “It’s about more than just money. It’s about stadium development, the team and the whole piece. Once we’ve been through the process, the best bidder gets it.”

So it’s not just about the money, it’s also about stadium development and the team. Which brings to mind a statement issued last night by Kenny Huang: “We concluded that a plan that properly capitalizes the business and provides funds for a new stadium and player related costs would allow Liverpool FC to provide its great fans with the success they deserve.” So that’s the money, the stadium and the team all covered. What else does Broughton want?

As of last night there was no evidence of one single other bidder who had both put in a serious bid and proved the funding was in place. By default Huang’s bid was the best bid.

To add more weight to the theories that Broughton had received no other viable bid, suggestions were made earlier this week that potential investors were still being approached about making a bid for the club, well after Broughton’s supposed bid deadline was over.

Less than three weeks ago Broughton still said he was aiming for a deal to be done by the end of this month. Huang had just been named as a potential bidder, it was the 2nd of August, and Broughton said: “It still remains the objective to conclude a deal before the end of the transfer window. That remains the objective but there are no deadlines, and we will continue working to complete the process.”

And Broughton suggested there was no guarantee of a sale price that gave Hicks and Gillett a profit: “There could be a possible realisation of an equity consideration, but both George Gillett and Tom Hicks remain on the board and they have given commitments that the board of Kop Holdings is the party that is responsible for the sale.”

When Huang made his first move for the club, many months after starting work on the project, he went to RBS first, looking at the possibility of buying out the debt as a way of gaining control of the club.

RBS asked him to speak to Broughton instead. He agreed to this and would eventually make his bid for the club through the process Broughton was running. He followed Broughton’s instructions, gave Broughton everything he’d asked for in their talks ahead of the formal bid. Broughton didn’t even bother using his staff discount (assuming he still gets one) to take a flight to Hong Kong or Beijing to meet Huang.

In the end Huang wouldn’t wait any longer for Broughton, now fans are left wondering if that’s what Broughton wanted anyway.

46 thoughts on “Reds still held to ransom by outrageous asking price”

  1. Good read Jim, but are you expecting Broughton to sign up to twitter and keep you updated? he is covered by NDA and confidentiality agreements.

  2. Lots of speculation in your article. What are you trying to achieve? Stir up s**t again. Currently football seems to matter again and it’s the first time in quite a while. You don’t seem to like that. Do you really believe that Huang was serious about buying the club? I think he wasn’t because otherwise he wouldn’t have walked away.

  3. Liked the article. Does pose a lot of questions and definitely adds fuel to the fire about the issue of growing perceived bias of Broughton towards the owners. Broughton has said the right things but fails to address the supporters concerns and rebutt any other media speculation. Granted we don’t know what the “processes” are that Broughton and the “board” are dealing with the bid or “bids” but they are not doing themselves any favours by not rebutting the media ridicule by Huang regarding their treatment of his bid. This just adds to the speculation as higlighted in your article about Broughtons real objective. That objective seems to be to maximize the selling price of the club for the current oppressive regime. I don’t agree with airing the club’s dirty laundry in the press but the current owners have put the club in such a position that this does seem the only way to communicate and appease the true supporters of LFC.
    I do have a question though. What is the REAL possibility of RBS calling the debt and taking over the Club? Would they want to ? and if so what would be the ramifications for the Club and the current oppressive regime. I have this terrible feeling that come October there will be another deal done where an extension will be given to H&G and then there will be more pressure to sell our prized assets.
    The end of the transfer window is fast approaching and so is the very real possibility of the club making the top 4 due to lack of investment. As yet again the pressure is there for a net surplus from transfers to pay the interest of the debt bestowed upon us by H&G that is crippling our beloved club. Selling Kuyt and or mashcerano (as speculated in the press) to bring in another couple of players does not increase our team strength. Have no fear that come the next transfer window we can say goodbye to Stevie & Fernando…. and in all seriousness good luck to them. How can we expect them to stay. I have no doubt if SG & FT are sold we will be forced to probably spend only half of the funds on substandard players and again weaken our squad. Maybe things need to get a whole lot worse for LFC before it gets better thanks to ‘Laurel & Hardy’. I have faith though that LFC will rise again…. just as soon we can get rid of the two imbeciles pulling the strings and their ‘henchmen’ (aka broughton & purslow).

  4. Fact of Life:

    If Haung offered cash to RBS, RBS breaks off his arm grabbing it. Haung offered, no doubt, to “take over the debt” and then figure out what to do with the club.

    RBS isn’t legally in a position to remove Hicks & Gilette until their loan is actually in default. They didn’t “ask” Haung to “speak to” Broughton. They told him that, until he obtained the resources to take RBS out of the deal, they had to wait until default. That means the current “arrangement”, whatever that is, remains in place and Broughton is the appointed spoksman.

    Come default, RBS can sue for liquidation and that will wash the owners out.

    Broughton may well oversee the whole process.

    Get used to him.

  5. Broughton should never be a Chairman, since he openly admit he is Chelsea fan, even he will do professionaly and honestly(I hope so), his responsibilty of selling LFC, in the reality of business world this kind of situation called as “conflict of Interest”(cos he is Chelsea fan), and could not be appointed as chairman as per basic business rule.

  6. Using the same logic Myanmar we could claim Ronnie Whelan shouldn’t have pulled on the Liverpool shirt given he grew up a Utd fan.
    A conflict of interest would be within the same sphere of influence, business and pleasure do not mix as the saying goes.
    I am curious as to who is ‘the enemy’ beyond Tom and Jerry. Is MB working for the club? IS he balancing or is he there for the owners? I still have doubts about this Kenny bloke…

  7. Excellent articles. It’s a crucial moment and what happens here could set us as rich as Chelsea man city or points deduction and relegation risks. mb and the board has a lot to prove

  8. RBS need to do the right thing now. Come October call in the debt. They’ve had plenty of chances to sell the club and they just aren’t willing to do it at a reasonable price.
    Maybe G&H will somehow refinance it with another lender or through a partial sale of the club (worst case scenarios) but RBS just need to do what they can. Call in the debt and wash their hands of this nightmare.

  9. to the internet tough-guy zero tolerance, grow up MORON!
    we are all frustrated and worried about the future of our once-great club but stop talking b*****ks!

  10. I can understand the suspicion that surrounds this whole process but didn’t MB say that the board would not comment on press speculation? Whilst supporters would love to know what’s going on maybe prospective buyers (if they exist) do not want their names in the media. I know “sources” leak stuff but not knowing which side they are on adds to the speculation. As has been said didn’t Chelsea and City change hands without much fuss?
    By the way – what’s the best guestimate for the price of the club or at least where the bidding might start? (not what the Yanks want)

  11. @steve mcauley – I’ve removed the comment from “zero tolerance”, it was over the top and was let through by mistake.

  12. it looks to me like the yanks are desperate to find someone who will either match their valuation of the shares, and let them walk away with their blood money, or is willing to purchase the entire debt outright, in an investment capacity. Primarily this is to get rbs off their backs…, but also to delay repayment of the loan until the season after next, when the renegotiated tv deal will provide them with the capital to refinance the deal once again, and the opportunity to ultimately hold on to the club… im desperately afraid that the squirming, lying, name calling, smoke and mirrors and false dawns has only just begun…

  13. The statement by Joe is spot on – wish you were in charge mate . The only cosilation in all this is that given all his problems in America as well Hicks is going to go bust and the longer he stall the less he gets – LOVELY.

  14. Interesting article and it keeps Martin Broughton and the board under the spotlight and the fans informed.

    By far the most informative reds fans website around.

    Keep up the good work Jim.

  15. As JQ says….if Huang is the only serious bid on the table, he would be better off waiting till the October deadline which would pave the way for a smoother sale.

    Martin Broughton & the board would be obliged to explore every bid thoroughly rather than fast track Huang’s bid as Tom & Jerry would hit them with every possible legal challenge down the line.

    Huang really did seem like a serious investor and if they are backed by CIC Sovereign Wealth fund then I can only see them being seriously ambitious. With a quarter of the world’s population in China, whichever Club they invest in is only going to grow its revenue at a frightening pace. China’s economy growth is frightening there is a loyal LFC fan base there already.

    The other worry is the UEFA mooted limited spending based on club revenue, so we need things to happen quickly………both on the ridiculous interest we are paying and to reinvest in the team so that we can be competitive at the top.

    The “custodians” from the hapless Moore & Parry through to Tom & Jerry have already:

    * Wasted £45 million pounds on advisory and architect fees on a stadium that is nothing but a few fancy images on the club website.

    * Nearly lost both Torres and Gerrard with their false promises (and who would blame them if they both left next year if we are without new owners)

    * Debt up to £300 million in October and they are asking for £600-£800 million (what planet are they on!!!!)

    * Whatever happened to “The Big Summer of Spending” Tom? Do you want to add LFC to the Texas Rangers fiasco?

    This whole thing is such a monumentous mess and thoroughly depressing for every LFC fan. My only hope is that Huang is biding his time and waiting for October. I dont realistically see another lender (unless its an American Bank) refinancing with those two morons.

    Surely RBS need to call in their debts in October? Would this mean a 9 point deduction for us though Jim?

  16. There is no point in making an offer at this time. The man responsible for overseeing the sale is a puppet of G&H. Don’t you believe anything else! He is hanging on to get them the price they want and as that is not forth-coming he has nowhere to go.
    The next round of half-hearted attempts at arranging a sale will be when the banks make their decision in October and I fully expect them to continue to endorse the present owners.
    Why should the banks do otherwise as they are getting a very good rate of interest on the sum and picking up tidy little “late payment” sums. To them it is good business and indeed it is. The more than interesting time will come in the January window. Torres will leave and possibly so will Gerard as there is no future for either of them nor indeed LFC.
    GandH will continue to load debts and attempt to walk away via the bankrupcy courts for they are business men and have no time for sport , especially UK football.

  17. Totally agree with the Headline, H & G`s valuation of the club is beyond belief. If we were winning the EPL & had a new stadium in place then i`d maybe agree with them. How can you ask a person to pay for something which isnt there? When you buy property is it valued as it is or with the possibity of adding this on? Theyre a pair of Leeches & want as much as they can to cover other ventures. Nothing but lies & deceit since they took control, at least they will be out soon. GOD bless Liverpoo fc.

  18. Maybe its to early but I m hodgson is dealing in the transfer market, loaned out aqua, got in poulsen so now we have three def midfielders, to add to that kuyt is on the way out and all the players we are linked with are all playing in scandinavia, definitely not one of the major forces at this time. hope I would not start missing Rafa more then I am now.


    I am a business executive who has worked with take overs on a few occasions and I am also a big Liverpool fan.

    1. This is a huge takeover deal.
    The amount in question are from £237 (debt) upward to £800 (Hicks valuation). On top of this comes the possibility (or need) of a new stadium and perhaps another £100 on improving the squad. There are not a lot of people ( or a consortium) that can get involved in this kind of transaction. Potensial buyers a few and far between, that’s for sure. They need fresh capital and even if you are worth £ billions, for most billionaires these values are somewhat tied up. You don’t sell all your stocks, interest and values that give you great dividends to buy a football club.

    2. “Short sale” vs. “Foreclosure”. There are no evidence that H&G needs to sell now. I am 99.99% sure that H&G still have a mayor influence on the sales process. The club is not into administration as of yet. This means that they have (most likely) a currently a valid loan agreement with RBS. Even though they have pledged to sell – it isn’t worth more than any of you readers saying I will pay down my credit card now; As long as you pay your monthly dues, the bank will leave you alone. Not until, they cannot pay what is due and no “short sale” / agreements between the bank, owners and purchasers have been mutually agreed. Only the will this move into a legal foreclosure process, which will take a lot of time. H&G doesn’t give a shit about Liverpool FC,but they are in desperate need of a good deal. They will sink with the ship rather than give it over to a rescuer without a good profit. Hence, the Huang bid, if it exists, was not going to succeed as it was not “enriching the owners”.

    3. Martin Broughton is hired by the owners, H&G, and is working for the owners, the bank and lastly the assets of the club. In priority I would think. This is not about what offer is best for the fans of Liverpool and the club. But how the owners can get paid well, the bank can get rid of its debth and cross your fingers it will also be a good offer for Liverpool. Fortunately the biggest asset of Liverpool is their fans. It is us!! It is the brand and goodwill! It is very unlikely someone will buy Liverpool and break up the assets. It is not worth it.
    That’s the good news! However, we may almost die under H&G…that’s the bad news!


  20. Really interesting reading the obvious split in the camp over this issue. Classic human behaviour. On the one side you’ve got the quiet worker ants that go about their daily business with no thoughts or intention of ever questioning the people in power. And on the other are people who continually demand answers from their controllers. The naysayers who want more from the people in power and who will not bow down to the big fat capitalist pig. I’m proud to be a naysayer and can’t for the life of me understand the voices telling people like me to be quiet and get on with supporting our club and to not worry about matters such as this. I will simply refer you worker ants to a very astute quote from a famous Liverpudlian:

    “Living is easy with eyes closed. Misunderstanding all you see.”

    Look at Broughton’s recent background – BA. This is a company who have on more than one occasion had a democratic decision taken by its own people overturned by the courts on some minor technicality. For those that ask the relevance of this to the current problems at LFC I ask you to take a look at the bigger picture. Those two fat American pigs are losing their assets, one by one and are now so desperate they will do anything to walk away with some form of profit.

    Isn’t it time that we (the fans) stood up and tried to make a difference by boycotting all LFC games? Tough love, but it needs to be done. Handing over any more of our hard earned money to these two (whether it be through shirt and/or ticket sales) is the worst thing we could possibly do.

    No doubt this rallying cry will fall on deaf ears as I suspect the world is full of more ants than naysayers.

  21. WHR you talk a lot of sense. It is unthinkable that “most fans” would not seriously question the board not only from Tom & Jerry, but also back to Moores and Parry. We have been run by incompetent executives for far too long and they are lucky that they have fans like us. Every week that goes by we are losing ground and paying hundreds of thousands in interest when that moeny could be going to towards the squad or the new stadium. Pure madness and Tom & Jerry do not give a damn whilst they relax back in the states destroying other clubs.

    I imagine if nothing happens by the end of October the fans unrest will boil over into regular protests again. I was feeling hopefl with the Huang bid but now I am hoping that there is a serious bidder left with the resources required and want to play the whole thing behind closed doors until an announcement can be made.

    Hopefully a good result tomorrow night will give us all a lift!

  22. Jim, can I ask you have you done any research into Kenny Heung in the same way that you did with the Pizza delivery guy. How credible do you think his bid was and why? What in his history would tell you that someone with 400million to invest would need to use his services to do that? What skills and track record does he have to market us in China? Is it possible for you to do an article on him – I’d like to believe his story but it just doesn’t hold up, full stop. Have his backers pulled out? Why have they done so after all that work and having got this far? If his story did hold up and he was the only viaible bidder, then it would be time to take serious action.

  23. I’m undecided about MB.

    To listen to him he sounds genuine. I tend to believe him when he says hes following a process.

    Huang on the other hand sounded too good to be true from the start. He burst in to the limelight with talk of the backing of the Chinese government. That quickly turned out to be untrue and his takeover in 10 days withered away until eventually last Friday he pulled out of any deal. That strikes me as a guy who either couldnt provide the necessary proof of funding or never intended to purchase the club from the start.

    Unfortunately regarding Broughtons role in all of this it will be only when the next part of this story has been played out will we know whether his intentions were genuine and where his loyalties lay.

    Huangs brief involvement hasn’t done anything to convince me that Broughtons got another agenda. That said it doesn’t mean I trust him.

    Guess we’ll just have to wait and see……….

  24. Lars – very good post.

    Jim – Do you seriously think Huang is credible?

    ….this link was originally posted by Nik Black and raises huge concerns over Huang and any potential “serious bid” from him:

    I have to say the author seems to be very credible and not a “paid off journalist” of H&G: &…us-434670.html

  25. Another interesting piece on the Sporting Intelligence website if true.

    They are claiming Huang wanted to be granted a period of exclusivity so he could examine the books.

    The board apparently would be okay with this if Huang came up with proof of funds and the identity of his backers. Huang was unwilling or unable to carry out that request and subsequently pulled his bid.

    If this report does prove to be true it stands to prove that Huang was never serious about buying the club. Why wouldnt the board want to know if Huang and his backers were the real deal.

    Its about time the board flushed out time wasters.

  26. The silence from the board is quite deafening. I’m not convinced Broughton is interested in maintaining any kind of reputation as he no longer has one, nor to mention any dignity…not since Tony Blair made a wholly show of the idiot a couple of years ago over an issue relating to BA uniforms.

    And when Blair’s doing that to you, you must be in trouble! Why does LFC always get stuck with incompetent board members? Mind you, are there any other types out there?!

    Here’s hoping for a much needed win to boost some fan morale tonight.

  27. Oh dear. Don’t recall a game were we’ve been so comprehensively swept aside like this for a long time.

    At least the board are in control of things!

  28. hey cecil,

    we need a f*****g leftback! and for all you in the anti-rafa brigade. get ready, its going to be a long f*****g season. we have been s***e every match so far.

  29. So much for a 4 4 2 formation, roy was lost, no game plan, torres cannot play without gerrard behind him.

  30. @ Juan

    If we go along with the theory above, that all that was stopping Huang from getting exclusivity was to provide proof of funds AND identify his backers, then we go along with the idea there weren’t any other bidders.

    I think whoever leaked that claim (a claim that I don’t fully believe) inadvertently leaked that there was no competition for Huang’s bid.

  31. you know what i found really funny about the henry winter puff piece, he could not really say what cecil does, other than that hes so f*****g great at his job. like ballsing up getting a left back. or signing chamakh, just to bring up two examples that fall under his assumed remit. it just made my blood boil to hear him talk to richardson and that t**t winter.

  32. so jim was that piece by nick harris oh huang bullsh*t in your opinion? (…in fact, how about all his articles including those on H&G too?)

    unlucky tonight… they took the chances and we didnt… they dominated posession tho..

  33. Ray, sorry, i had no seen complaints before, but if it bothers you, i wont. its easy to say dont read henry winter. the larger problem is that he is influential. thats why he bothers me.

    Rus, hard to see how we were unlucky. that was as poor a performance as anything seen last season. we did not make them work at all.

  34. @ corey
    I agree it’s going to be a long season, it’s just such a pity that “Rafa” left us with so much rubbish. How Roy could do with the 20/30 million that he had every year that wasn’t enough for him.

  35. @Kevin I think to just blame Rafa is not the way to go, LFC has the second healthiest income in the prem after United, but we still have no money to spend now why is that?

  36. kevin,

    our biggest problems are in rank order George Gillett, Tom Hicks, Cecil Purslow and Martin Broughton. All Reds supporters should know that and focus on that, whatever our views on the current or previous manager.

  37. News breaking that the group that Keith Harris has been representing has completed due diligence and is lining up a 400-500 million bid for Liverpool.

    The interesting part of the story is though that it is not one of the groups that have been mentioned already.

    A deal is not expected to be done before the transfer window shuts but there seems to be a deal on the horizon.

  38. @ Corey & Mr F

    Yes Yes you are both right those names are all at the top of our most hated list of course. It’s just when you see wastage like Aqualini, Dossena, Reira, just to name 3 at a time when City got Adam Johnson and Villa got J Milner for very reasonible money I find it quit annoying. It’s a shame that as LFC supporters none one is allowed to come on this site and speak about it without meeting stubborn resistance to the subject and it was you Corey that brought up the subject of the anti Rafa brigade. For the record I liked Rafa, but he lost me with his signings in the last 2 years.

  39. Hearing news today that Huang was never at New York for his mooted MBA, not on the board of the 4th largest Chinese Bank and does not own 15% of the Cleveland NBA franchise.

    Have we dodged another bullet in missing Huang?

    I can’t believe such charlatan’s coming out of the woodwork as his bid seemed to be the only serious one on the table.

    I truly hope that there is someone out there with the serious will to buy the club and invest in all the areas that are needed. Surely LFC is a huge coup for a serious investor but just how much are Gillette and Hicks blocking and stalling this whole process?

    We look like ending up with a £60 million pound interest bill in October. £45 million spent on a stadium that does not exist. Mismanagement of the very highest order for far too long.

    Poor performance last night and we lacked a cutting edge up front. Man City looked far too comfortable for long periods in the second half which was worrying. A 3 v 0 scoreline flattered them but they were still streets ahead of us. Joe Hart made a string of saves which made all the difference as 2 v 1 would have tilted the momentum of the game. Gerrard seemed to be the only one with any real fight.

    Hopefully a much better performance is coming the next game and who knows: a return the favour to City when they come to Anfield.

    A tough game coming up on Thursday in a hostile Turkish atmosphere. Come on The Reds!

  40. Until we sort this protracted takeover soon,Liverpool are heading for a steady decline,you cant improve if you hav to sell to buy,i hope we can sort this out,and be back we deserve to be,at the sumit of the premier league

  41. No new articles despite defeat at Citeh & europa tonight. What’s the story?? do we only talk about doom & takeovers

  42. @Kevin – So we didn’t write about defeat at City because we only talk about doom?

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