RyanSxi
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Registered: 26th Jul 06
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No not a player...
"Americans Thomas Hicks and George Gillett Jr have borrowed nearly £300m from the Bank of Scotland in order to fund their takeover of Liverpool. (The Guardian)"
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Robbo
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Registered: 6th Aug 02
Location: London
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No worse than Man Utd and not all that much more than we have :S
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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I wondered who would post it first. I actually expected Nath, or especially Marc when I saw him on
Ive known about the loans for ages, it was all detailed out in 'The Offer' booklet we got before selling the shares.
They have taken out 2 loans from RBS, one for £185m to fund the buying of the shares and the costs associated with it. And the rest (to make a total of £298m) if for paying off current debt, working capital and to begin work on new stadium/revise those plans.
The loans are not directly to Liverpool, they are to a company Hicks and Gillet set up called Kop Investments Ltd (think thats the right one) and then this company loans the money to Kop Ltd and thats who has bought Liverpool.
This is for a few reasons, the main one being is that the loans are NOT secured against the clubs assets like the funding Glazer used to buy Utd. So if things went wrong it would be Hicks and Gillet personally who are in trouble and not Liverpool as a club.
The other reason is for tax, but thats not really anything new in the business world. Neither is funding company purchase via loans as it provides a certain sense of security for the owners and also means their cash isnt tied up.
The main thing is that the loans ARE NOT secured against the club at all like Utd and the club is in ZERO debt.
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Robbo
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Registered: 6th Aug 02
Location: London
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Sound slike a very good way of doing things, I think you did a good job sacking off the Dubai guys 
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RyanSxi
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Registered: 26th Jul 06
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cosmo i only noticed it so stuck it up. thought i'd get a long reply from your kind self
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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quote:
Originally posted by Robbo
Sound slike a very good way of doing things, I think you did a good job sacking off the Dubai guys
yeah, although it depends what you read about the Dubai people as some say they were funding it like Utd were and other say they were using their investment money so no loans.
Either way these two guys seem excellent so far. Have taken debt on themselves so shows they have trust in what they expect the club to become.
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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quote:
Originally posted by RyanSxi
cosmo i only noticed it so stuck it up. thought i'd get a long reply from your kind self
no way to write it in a short reply 
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Marc
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Registered: 11th Aug 02
Location: York
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Debt Debt Debt
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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quote:
Originally posted by Marc
Debt Debt Debt
we have none none none 
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