Tag: News

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.

Later 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.
Continue reading Reds still held to ransom by outrageous asking price

A statement from Kenny Huang and QSL on last night announced that he had formally withdrawn from the process to sell Liverpool Football Club to new owners. Huang said: “I am now considering my future options and will be making no further comment at this time.”

No reason was given in the statement for the decision, but it is believed he had grown frustrated by the apparent slow pace of a process in which he firmly believed he was the only viable bidder.

Now there are doubts about how genuine Martin Broughton was when he said that the club would be sold to the best bidder. It suggested that, contrary to his claims, the current owners were not only able to block the sale of the club but were actively doing so.

It also suggested that Martin Broughton was not taking the bid seriously and in turn created doubts that he was even taking the sales process seriously.

Broughton once said: “I have always taken the view that if you’re not at the table you’re likely to be on the menu.” He now finds himself sitting alone at the table; there’s nothing palatable on the menu. And he has nobody else to blame.
Continue reading And then there were none.

Ever since it became obvious to supporters that Liverpool Football Club was “in the wrong hands” the arguments have raged about exactly whose fault it was.

Today, the club is still in the wrong hands. Today, the arguments rage about what kind of owner Kenny Huang might have been. Today, we’re talking in the past tense when discussing the man said to be fronting a bid that had the backing of China’s sovereign wealth fund. Huang pulled out of the sales process last night, clearly frustrated at the way he’d been treated.

This club has been at war with itself for three years. This war means all trust has gone. Not only will any potential bidder be instantly met with suspicion but also at times will anyone seen to have put their trust in that potential bidder.
Continue reading Time for Broughton to break his silence

The following statement has been issued on behalf of Kenny Huang and QSL Sports:

After due consideration, Kenny Huang and QSL Sports is withdrawing from the ongoing sales process with respect to Liverpool FC. Mr. Huang has formally notified the Chairman of the Liverpool FC Board.

“Over the past few months we learned firsthand that Liverpool has a very special place in the hearts of millions of fans around the world,” Mr. Huang said. “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. Our strategy and unique ability to expand the fan base in Asia would also have been of benefit to all. We regret that we will not have the opportunity to implement this strategy.”

“We thank the many Liverpool fans who expressed support for our efforts and wish the club great success in the years to come. I am now considering my future options and will be making no further comment at this time,” Mr. Huang said.

Liverpool v Trabzonspor – Europa League – Kick-off 7:45pm

Roy Hodgson said that the Europa League would be prioritised some way below the Premier League this season and for tonight’s play-off first leg he’s certainly not picked his strongest side.

Only one of the back-four survives from Sunday’s draw. Daniel Agger has been suffering from concussion since that game and is replaced by Fabio Aurelia at left-back. Johnson makes way for Kelly and Skrtel makes way for Kyrgiakos but Carragher keeps his place and will be captain tonight.

Carra’s got the armband because Gerrard is rested along with Mascherano, meaning Lucas will partner new signing Christian Poulsen in the centre of midfield.

Joe Cole is suspended for three league games so he gets a start tonight, along with Maxi and Jovanovich, with Ryan Babel set to start up front. Torres and Ngog are on the bench.

One first-choice player who starts is Pepe Reina and if he’s true to his usual form his mistake on Sunday against Arsenal will be long forgotten.

Liverpool: Reina, Kelly, Kyrgiakos, Carragher, Aurelio, Lucas, Poulsen, Cole, Maxi, Jovanovic, Babel.
Subs: Cavalieri, Torres, Wilson, Ngog, Spearing, Skrtel, Pacheco.