Gillett Embarassed at Our Financial Situation

[Flight]

fyds - please note that it was not Flight who put that sub-title on the thread. It was that naughty man Nathan Explosion, and he is really really sorry for not causing you any embarrassment by making the joke back in early November and really hopes it had no input into you deciding to leave/not leave the forum in early December.

 

Liverpool co-owner George Gillett has admitted the club's financial difficulties have left him red-faced.

 

Gillett arrived at Anfield early last year alongside fellow American Tom Hicks, and the pair made the building of a new stadium in Stanley Park a top priority.

 

However, after months of speculation over their ability to fund the project, it was recently shelved until the current financial crisis eases.

 

"You feel a responsibility and an embarrassment on occasions when you haven't provided all you might have," Gillett told The Independent.

 

"There's a level of embarrassment and you want to correct it quickly."

 

 

Tweedle Dee Embarassed

[Flight]

Add this, form the separate thread, and you really have to wonder WTF is going on :

 

 

Benitez said that Kuyt's contract situation, as well as central defender Daniel Agger's, "has to be" resolved by the new year. "I want them here for the future," he said. But discussions with the Dutchman have not even started yet – a product, it seems, of the current state of inertia Liverpool are in, with no clear sense of who will actually own the club in a year's time. Their best start to a Premier League season this might be, but the ownership issue remains the millstone around the club's neck.

 

 

Benitez Interview

Edited November 4, 2008 by Flight

[McBain]

"Liverpool fans embarassed at our owner situation"

[Stew F]

Interesting bit in the Times from Oliver Kay, in an article about contracts, tonight etc.

 

"Kuyt seems rather more relaxed about the prospect, (Signing a contract) but he, too, is eager for liverpool's American owners, who, contrary to their public protestations, are preoccupied with trying to off load the club at a profit, to open contract negotiations with his representatives.

 

Please God let it be.

[Woodsyla]

Interesting bit in the Times from Oliver Kay, in an article about contracts, tonight etc.

 

"Kuyt seems rather more relaxed about the prospect, (Signing a contract) but he, too, is eager for liverpool's American owners, who, contrary to their public protestations, are preoccupied with trying to off load the club at a profit, to open contract negotiations with his representatives.

 

Please God let it be.

Is this the new takeover thread ? Maybe Gillett knows he is off and is trying to make a bit of peace before he goes ?

 

God bless the credit crunch.

[Redkop]

Bet he hasn't lost any sleep over it...

[Mike]

these stories are all from that radio interview last week.

[muleskinner]

This same story in the Independent seems to confirm what Tony Barrett said about transfers:

 

Gillett said that the financial crisis is affecting his sports interests. "All the sports teams I know of are re-examining all of their futures." He claimed that his sports franchises do not necessarily need big-money superstars. "We now have [clubs] that will be successful in the long run, that can compete for the championship every year and don't depend on buying high-priced players every year," he said.

[Woodsyla]

This same story in the Independent seems to confirm what Tony Barrett said about transfers:

 

Gillett said that the financial crisis is affecting his sports interests. "All the sports teams I know of are re-examining all of their futures." He claimed that his sports franchises do not necessarily need big-money superstars. "We now have [clubs] that will be successful in the long run, that can compete for the championship every year and don't depend on buying high-priced players every year," he said.

Unfortunately George with Dubai down the east lancs road and the spending power of the Mancs and Chelsea we are finding out that the above is not true anymore. If you want proof look at Arsenal. I can't see them winning another league title unless Wenger spends some serious money.

[McBain]

Competing for the championship could well be our future with these two in charge

[fyds]

Is this the new takeover thread ? Maybe Gillett knows he is off and is trying to make a bit of peace before he goes ?

 

God bless the credit crunch.

There is a logic in that - if you are actively trying to sell the club, you don't want to say 'we're desperate, sh*t and skint', at the same time some fluffy comment about 'being embarassed at not being able to spend what we would have liked' creates a far more stable impression and tell at least a half-truth.

[jimmylibel]

This same story in the Independent seems to confirm what Tony Barrett said about transfers:

 

Gillett said that the financial crisis is affecting his sports interests. "All the sports teams I know of are re-examining all of their futures." He claimed that his sports franchises do not necessarily need big-money superstars. "We now have [clubs] that will be successful in the long run, that can compete for the championship every year and don't depend on buying high-priced players every year," he said.

 

What did Tony Barrett say about transfers (I'm presuming something along the lines that there won't be any)?? Missed that article.

[Chili Palmer]

What did Tony Barrett say about transfers (I'm presuming something along the lines that there won't be any)?? Missed that article.

 

 

said we couldn't even afford free transfers.

[honourablegeorge]

What did Tony Barrett say about transfers (I'm presuming something along the lines that there won't be any)?? Missed that article.

 

 

transfer budget is "in the red" after buyinrg Riera - Pennant was to be sold to fund him, basically.

[jimmylibel]

said we couldn't even afford free transfers.

 

 

transfer budget is "in the red" after buyinrg Riera - Pennant was to be sold to fund him, basically.

 

Thanks. More than a little disturbing that.

 

Was this a recent article incidentally?

Edited November 4, 2008 by jimmylibel

[Chili Palmer]

Thanks. More than a little disturbing that.

 

Was this a recent article incidentally?

 

 

yeah, a couple of weeks ago maybe.

[jimmylibel]

yeah, a couple of weeks ago maybe.

 

Can't believe I missed that.

 

Ta for the help.

[richwilks]

Can't believe I missed that.

 

Ta for the help.

 

All looks bleak.

[ali]

Staveley banks a £40m bonanza for brokering Barclays' Abu Dhabi deal

 

By James Thompson

Monday, 3 November 2008

 

 

............................PCP netted a commission of about £10m for masterminding the deal with Manchester City. Ms Staveley has also been involved over the summer in separate negotiations between Sheikh Mohammed bin Rashid al Maktoum and his Dubai International Capital (DIC) investment vehicle, the American owners of the club, to buy a minority 49 per cent stake in Liverpool football club.

 

 

http://www.independent.co.uk/news/business...eal-987113.html

[aka Dus]

When's the AGM?

[muleskinner]

When's the AGM?

 

Shouldn't think they will bother, who can force them?

[growler]

Article indicates we just missed out on a take over.... anyone know what would have scared them away?

 

http://www.timesonline.co.uk/tol/sport/foo...icle5084553.ece

 

 

The ownership saga at Liverpool has taken another twist amid claims that a Middle East investment group came close to buying the Merseyside club two weeks ago, only to drop its interest in mysterious circumstances.

 

Tom Hicks and George Gillett Jr, the club’s American owners, continue to deny that they are looking to sell Liverpool and that they have held negotiations with any potential buyer, but sources claimed last night that an Arab group — unrelated to Sheikh Mohammed, the ruler of Dubai — had made a firm offer for the club, having inspected the company accounts, but walked away without explanation with a deal looking imminent.

 

The Times has learnt that there has been interest shown in Liverpool recently by a consortium from Kuwait, although it is not clear whether this was the same group that came close to buying the Merseyside club. The previous £500 million offer from Sheikh Mohammed, now operating independently of, rather than through, the Dubai International Capital group, remains on the table.

 

The American tycoons are expected to issue another public denial today, amid concerns that the price could be driven down if they are seen as active sellers, but it is an open secret in the world of football finance that they are willing to sell for the right price. Even if they have not been directly involved in negotiations, others have negotiated on their behalf. Last month The Times revealed that they engaged Merrill Lynch, the investment bank, to help to find a buyer. Another swift denial was issued that day, but Gillett squirmed and declined to comment when put on the spot in an interview with a Canadian radio station last week.

 

Gillett conceded in the same interview that he was “embarrassed” by certain episodes since buying the club with Hicks in February 2007, such as the failure to deliver their promise of a new stadium in Stanley Park, the construction of which has been postponed indefinitely because of their inability to raise the funds.

 

The Americans are under additional pressure to restructure their £350 million loan with the Royal Bank of Scotland (RBS) and Wachovia banks, which expires on January 25. If no buyer can be found in time, they hope to be given permission to take up the option of a six-month extension, but RBS, at present under public ownership because of the credit crunch, is by no means guaranteed to renew thereafter. Amid that growing pressure, Hicks and Gillett are firmly expected to sell the club sooner rather than later.

[Cam]

book IV, chapter 2. KYTOTS

 

Why is it always The Times taking the lead on these things and dredging up newsless news articles - are they being drip-fed info from the DIC camp?

[meredithmathieson]

Says The Times:

 

Oliver Kay

 

The ownership saga at Liverpool has taken another twist amid claims that a Middle East investment group came close to buying the Merseyside club two weeks ago, only to drop its interest in mysterious circumstances.

 

Tom Hicks and George Gillett Jr, the club’s American owners, continue to deny that they are looking to sell Liverpool and that they have held negotiations with any potential buyer, but sources claimed last night that an Arab group — unrelated to Sheikh Mohammed, the ruler of Dubai — had made a firm offer for the club, having inspected the company accounts, but walked away without explanation with a deal looking imminent.

 

The Times has learnt that there has been interest shown in Liverpool recently by a consortium from Kuwait, although it is not clear whether this was the same group that came close to buying the Merseyside club. The previous £500 million offer from Sheikh Mohammed, now operating independently of, rather than through, the Dubai International Capital group, remains on the table.

 

The American tycoons are expected to issue another public denial today, amid concerns that the price could be driven down if they are seen as active sellers, but it is an open secret in the world of football finance that they are willing to sell for the right price. Even if they have not been directly involved in negotiations, others have negotiated on their behalf. Last month The Times revealed that they engaged Merrill Lynch, the investment bank, to help to find a buyer. Another swift denial was issued that day, but Gillett squirmed and declined to comment when put on the spot in an interview with a Canadian radio station last week.

 

 

Gillett conceded in the same interview that he was “embarrassed” by certain episodes since buying the club with Hicks in February 2007, such as the failure to deliver their promise of a new stadium in Stanley Park, the construction of which has been postponed indefinitely because of their inability to raise the funds.

 

The Americans are under additional pressure to restructure their £350 million loan with the Royal Bank of Scotland (RBS) and Wachovia banks, which expires on January 25. If no buyer can be found in time, they hope to be given permission to take up the option of a six-month extension, but RBS, at present under public ownership because of the credit crunch, is by no means guaranteed to renew thereafter. Amid that growing pressure, Hicks and Gillett are firmly expected to sell the club sooner rather than later.

 

[Apologies for new topic - Takeover thread locked?].

[aka Dus]

Apparently there's no news on the take over you know...