"Trust Me", says Rick Parry

[Bromage]

Many will know that my patience has stayed firmly in its place since Rick Parry's management capabilities have been questioned in the last year or two. My belief was that his professionalism in launching the Premier League brought a great deal to the WI Market Stall management style which is known as the Liverpool FC Boardroom. However my patience is now tested to such a breaking point that I feel compelled to write this.

 

We know very little about events other than what the parties disclose or press fabricate but what is certain is;

 

1. George Gillett made an offer for the club last year which was rejected after consideration by the board.

2. DIC made its bid last November and received approval to conduct due diligence prior to confirmation of the offer. Their CEO is a fan of some 30 years standing.

3. George Gillett, a bankrupt in 1991, has an estimated ?fortune? of around £450m and almost certainly would finance the takeover through loans, similar to the Glaziers.

4. DIC would also finance the take over through loans but the significant difference is that the city is falling over itself to offer them the money due to their credibility and the wealth of those involved.

5. George Gillett conducted his due diligence process in 3 days.

6. DIC raised questions as a result of their due diligence process which may have affected their valuation; we don?t know the details.

7. The directors do indeed have a fiduciary duty to consider all serious offers in the interests of the shareholders.

8. DIC were advised last week that their offer would be put to the LFC Board this week for approval.

 

So in my mind this means that the decision to bring the Gillett bid back into the mix is as a direct result of the possible lower share valuation, resulting in less money for the shareholders and nothing to do with the amount of the investment money paid into the club towards the debt and the new ground, plus funds for development of the squad.

 

I can forgive Parry for the Houllier saga, the Gerrard saga and even the Thai PM?s crooked deal but on this occasion I just have to say this; if you are any good at business you have to be able to keep all parties happy in this situation and you do that by keeping them informed. If it were down to me I would have him on the next plane to Dubai, prostrating himself at the feet of DIC and pleading with them to come back to the negotiating table, in the interest of the fans.

 

But rather than propose a ?Parry Out? vote right now I would prefer to ask people who they would prefer to buy out David Moores; DIC or George Gillett?

[IgPig]

On point 3 - its looking like he's in this with a partner. We will presumably take on some debt for the stadium, but to compare it to the Glaziers is premature.

 

On point 5 - he has been looking at the books at various periods since the Charity Shield apparently.

Edited February 1, 2007 by Post Kuytal Glow

[Hassony]

[Herbie von Smalls]

i'm not sure any of us know so much about the intentions of either party that we can say which is better for the club and the fans. the media coverage hasn't proven to be terribly enlightening with regard to the whys and the wherefores of the collapsed bid.

 

from what i've read of robert kraft, he would've been the ideal man. as far as the status quo goes, gillett's looking like the only option.

Edited February 1, 2007 by Herbie von Smalls

[Knox_Harrington]

Bromage, is a "No Buyout" option not a starter here?

[muleskinner]

Nobody really knows anything.

 

This whole episode has, if it really needed to, confirmed it and then some.

[Hassony]

Bromage, is a "No Buyout" option not a starter here?

but how else can we compete with the likes of chelsea, man u and west ham

[Mike]

i wrote a post in november that gillet had made a bid and LFC where going with him, it came from the guy who runs our youth recruitment so i don't think he's a johnny come lately.

sounds like he isn't going it alone either....

 

more to the point, where the hell have you been bromage?

[Kite]

Don't think the way you've proposed the question really makes full sense or takes in the full picture.

 

a) What would Parry have to do with the Board not recommending DIC to shareholders? If DIC walked away because the Board wanted to consider all offers available, than Parry has no responsibility for that at all.

 

b) Also think that some posters have been quite clear and helpful in establishing that Gilette is not like Glazier - his approach and offer will be of a substantially type in structure and meaning to the club.

 

c) There's also evidence that DICs bid was not as straightforward as originally cast, given the seven year strategy document etc. How can we really be sure their approach was the best for fans?

 

d) In a similar vein, you cannot say it is definitely all about the share value given that there has been reports about the under-writing of the cost of the new stadium - ie DIC refused to give Moores the type of assurances on this that Gilette gave.

 

e) DICs response, storming off, to Gilette's new interest also seems to have been excessive and basically, very odd for seasoned business negotiators. It doesn't scan with a company here to do business but one doing a bit of positive PR for themselves by grabbing a "moral high" ground before, perhaps, the negative PR of an announcement that they had lost with their offer?

 

Overall, my answer to the poll would be one that's not been offered - I just don't know. I don't really know what DIC offered or what they ultimately came to the table with and I don't know what Gilette offered on his return to the table. So how can I pick which is best? It makes no sense to make these kind of judgments from "gut feelings" etc, without having facts on the matter. I also agree with Knox that a "Buy Out" may not be the be all and end all for LFC.

Edited February 1, 2007 by Mr Kite

[Gomez]

I've been honest and gone for DIC, but to be fair, we have had 6 weeks of positive spin praising them.

 

However, no matter who you believe, the fact they threw their toys out the pram so readily and withdrew does make you wonder how committed they were in the first place.

 

Would they have done this at the first sign of trouble? Say missing out on the CL? They might have just flogged us to the highest bidder no matter who that was.

[DaveLFC]

Overall, my answer to the poll would be one that's not been offered - I just don't know. I don't really know what DIC offered or what they ultimately came to the table with and I don't know what Gilette offered on his return to the table. So how can I pick which is best? It makes no sense to make these kind of judgments from "gut feelings" etc, without having facts on the matter. I also agree with Knox that a "Buy Out" may not be the be all and end all for LFC.

 

Took the words right out of my computer.

[Hassony]

I went for Gillett, even though DIC are arab and from a personal point of view i would like that, there is something about their bid that I just can't trust

[jfogarty]

Many will know that my patience has stayed firmly in its place since Rick Parry's management capabilities have been questioned in the last year or two. My belief was that his professionalism in launching the Premier League brought a great deal to the WI Market Stall management style which is known as the Liverpool FC Boardroom. However my patience is now tested to such a breaking point that I feel compelled to write this.

 

We know very little about events other than what the parties disclose or press fabricate but what is certain is;

 

1. George Gillett made an offer for the club last year which was rejected after consideration by the board.

2. DIC made its bid last November and received approval to conduct due diligence prior to confirmation of the offer. Their CEO is a fan of some 30 years standing.

3. George Gillett, a bankrupt in 1991, has an estimated ?fortune? of around £450m and almost certainly would finance the takeover through loans, similar to the Glaziers.

4. DIC would also finance the take over through loans but the significant difference is that the city is falling over itself to offer them the money due to their credibility and the wealth of those involved.

5. George Gillett conducted his due diligence process in 3 days.

6. DIC raised questions as a result of their due diligence process which may have affected their valuation; we don?t know the details.

7. The directors do indeed have a fiduciary duty to consider all serious offers in the interests of the shareholders.

8. DIC were advised last week that their offer would be put to the LFC Board this week for approval.

 

So in my mind this means that the decision to bring the Gillett bid back into the mix is as a direct result of the possible lower share valuation, resulting in less money for the shareholders and nothing to do with the amount of the investment money paid into the club towards the debt and the new ground, plus funds for development of the squad.

 

I can forgive Parry for the Houllier saga, the Gerrard saga and even the Thai PM?s crooked deal but on this occasion I just have to say this; if you are any good at business you have to be able to keep all parties happy in this situation and you do that by keeping them informed. If it were down to me I would have him on the next plane to Dubai, prostrating himself at the feet of DIC and pleading with them to come back to the negotiating table, in the interest of the fans.

 

But rather than propose a ?Parry Out? vote right now I would prefer to ask people who they would prefer to buy out David Moores; DIC or George Gillett?

 

Why no "Trust Parry" option on the poll??

[Cobs]

Andy@Allerton

[McBain]

I chose DIC based purely on what i've heard from them over the months and what the people at the club have been saying about them previous to all the s*** kicking off

 

None of us know the whole story but we've all been watching it unfold slowly over the last two and a half years and for me DIC had everything we were looking for in an investor

 

Gillet may turn out to be our saviour he may turn out to be the death of the club i have no idea as i've heard not a single thing from him or his people regarding what he would do should he take control.

[hideNseek]

I picked DIC because I know nothing about financies and the press have hood winked me into thinking they'd spend £100 mill a year on transfers...................but at least I'm being honest.

[Sion]

After what Parry has said about DIC 'bullying' us, if it's true I want neither DIC nowhere near our club.

 

But saying that, I don't particularly want Gillett either, and panicing into accepting his bid could be suicidal as i'm sure his offer isn't exactly one we can't afford to turn down because it's so good.

 

I don't want investment now if it means we're just accepting a bid because we're annoyed over how long it's taking. I'd rather we take more time and make sure we're sure of what we're doing

[Jeff guitar]

Voted - 'Somebody else' as my prefered option, of course i am hoping for an Anfield born bilionaire to come out of the woodwork from somewhere.

 

DIC - Very fishy dealings going on here, in my, admittedly, unqualified opinion. Giving the club 12 hours to review Gillet's revised offer may be the way to run a huge beast like DIC but it doesn't seem very professional and is tantamount to blackmail and bullying. reading tonights statement from Parry it seems to me he is trying to indicate that the deal in the end wasn't right for LFC (he may of course be doing a damage limitation exercise).

 

Gillet - don't know that much about him but have misgivings due to his bankruptcy history. Are we likely to just be another basket for some of his eggs? He obviously protected himself and his assets very well last time even if he did lose a billion dollars.

 

At this moment in time i still trust Parry and Moores wholeheartedly, to deliver what they feel is right for our club and i have no evidence to contradict this other than rumour and gossip at the moment.

[Guest Kev]

Never trusted either and never will.

 

Never trusted Parry since the Gerrard saga, and never trusted Moores since someone a friend knows had a business dealing with him. We have Laurel and Hardy running our club.

[Ginu]

i would choose DIC strictly from a marketing perspective... they would be able to create a global Liverpool brand, something I think Gillet will be unable to do or do ineffectively... this is from living in Canada my whole life and supporting the Canadiens for 20 years

Edited February 1, 2007 by Ginu

[Clay Davis]

Never trusted either and never will.

what if they both saved your life by risking theirs? would you trust them then?

[Guest Kev]

what if they both saved your life by risking theirs? would you trust them then?

 

Considering neither will ever be in a position to, the question is pointless.

[fabfive]

But they are in charge and doing what they deem best for the club. As should the board.

 

It's interesting most of the replies are based on media speculation and not on directly what's been offered by DIC or Gillett. Considering how much the media plays into and up people fears, why trust them now?

 

Considering the PR groups will get their hands on anything really made public, why believe them either.

 

Afterall most of us are supporters and not in the know. Nor are we likely to find out most of the real truth because LFC doesn't wash it's linen in public like other clubs.

 

 

If Gillett gets the club then i'll support him until he does some dirty on us. If it's someone else or other group then they'll get the same lattitude.

[anfield]

Given how Gillett has a history of taking out huge loans, bankruptcy and has hocked the Canadians into debt to give himself a 75 million dollar payoff, I find it incredible that anyone can support this takeover........

[Guest Kev]

But they are in charge and doing what they deem best for the club.

 

And there lays my problem. I don't believe they are doing what is best for the club. I believe they are doing what is best for them, the club come second.