Liverpool: Parry, Hicks and Gillett battle it out

Liverpool's Parry & the boardroom battle are media fodder once more

At the end of a week in which Liverpool reached their third Champions League semi-final in four years, after not reaching it for the previous twenty (a fact lost on Rafa Benitez's critics), Liverpool’s unseemly boardroom battle plunged new depths in the national media.

Tom Hicks letter to Rick Parry, demanding his resignation, and which was splashed all over the media, was sent in the in full knowledge that he couldn’t force Parry's resignation. Moreover he was unlikely to get it given the support Parry has from the rest of the board (Hicks and his son aside).

Parry himself remained dignified, commenting only on the need for unity and focus as Liverpool chase fourth place in the Premier League, and more glory in the Champions League. Rafa Benitez too, chose his words carefully, particularly as his criticism of Parry’s transfer dealings were part of the reasons given for demanding Parry’s resignation.

David Moores has been quoted as saying he’s ‘heartbroken’ at the present situation Liverpool find themselves in, and that he’s determined to put it right. What he can do is clearly limited but at least he’s in there battling for Liverpool’s future. You can’t help feeling sorry for Moores. He’s done what he believed was in the best interests of the club, only to see his beloved Liverpool become engulfed in all his worst nightmares rolled into one.

Sources in the press say DIC’s pursuit of Liverpool is ‘remorseless’, and the caveat that gives one of the partners veto on the sale of the other’s share runs out in a month. Then events should pick up, with DIC waiting in the wings to do a deal with Gillett, and then force Hicks out.

Liverpool is clearly a valuable commodity, given the amount of battling that is going on to take control of the club. It really is unclear how this is going to end. For someone supposedly looking for an exit Tom Hicks is doing a good impression of a man determined to remain in control, come what may. You would have to think that somethings got to give in the end; the question is whether it will be Hicks, or the opposite camp of Parry, Gillett and DIC.

The Footy Focus team is praying it’s Hicks! This Parry resignation row really is plumbing new depths, and is as Moores says making Liverpool a laughing stock!

DIC Liverpool takeover crawling on

DIC reportedly to meet Hicks & Gillett to discuss Liverpool takeover

DIC, Tom Hicks and George Gillett are reportedly all to meet at the Emirates on Wednesday night to discuss the ownership of Liverpool, and DIC's proposed takeover.

George Gillett has now indicated he won't sell to his partner, and it is anticipated the credit crunch will soon force Tom Hicks hand, as he won't be able to raise the finance to buy out his partner. In addition Gillett clearly favours a sale to DIC, describing them as responsible owners.

Liverpool chief executive Ricky Parry has also come out urging a swift solution, in a further sign the tortourous saga is entering an end phase. He said "My plea is that something happens this week," he said. "There is a need for a degree of urgency but it is urgent to get it right, not urgent to come up with the wrong solution.

"I think George was pretty clear in stating the relationship between the two of them had broken down and, as a result of that, an alternative solution needs to be found.

"There is no question that to succeed you need unity at the top. I think it brings it to a head. All things are possible at the moment. Someone has to sell, that is clear if they are not able to co-exist."

The reports of DIC, Hicks and Gillett meeting at the Emirates on Wednesday to discuss the Liverpool takeover should be taken with a pinch of salt, what is clear however is that the DIC end-game is gradually edging forward and we think a DIC takeover will be complete by the season's end.

George Gillett - relationship with Tom Hicks 'untenable'

Gillett claims death threats and relationship with Hick untenable

George Gillett speaking on a radio station in Canada, has claimed he has been recieving death threats from Liverpool fans. He also claimed his partnership with Tom Hicks has completely broken down.

He said: “We get as many as 2,000 emails a week. I would say 95% of them have been directed at some of the comments made by my partner and 5% aimed at both of us, ’Go home Americans’." He added: “The fans don’t want him to have even one share of my stake in the club, based on what they are sending to me. As a result of that we have received many phone calls in the middle of the night threatening our lives - death threats.”

Given that both Benitez and Houllier have recieved equally distasteful remarks, painted at the clubs training ground, due to results floundering, we are not surprised the Americans are getting nasty phonecalls. The whole episode is a mess really and can't come to a conclusion quick enough for either the Americans, the fans and staff of Liverpool FC.

DIC Liverpool takeover back on

Credit Crunch opens the door, with DIC confident of a deal for Liverpool within the month

Long-time pursuers of Liverpool, Dubai International Capital are reportedly set to be within three or four weeks of making a bid for complete control of Anfield.

DIC is set to offer £400million for Liverpool FC, and would also bring in a minority investor. DIC, who lost out to Gillett and Hicks in the race for Liverpool last year, are said to be confident that Hicks will sell now, despite Hicks recently being adament he won't sell at all.

Although DIC, which is the private equity investment arm of the Dubai government, realises it is paying a high price for Liverpool – Gillett and Hicks bought the club for £219m 13 months ago – it believes it will be a price worth paying.

A source is quoted as saying: "It's not a cheap deal and Hicks is holding out but there is confidence that it will now finally happen."

DIC, whose chief executive Sameer Al-Ansari is a life-long fan of the club and who will join the board, has ambitious plans which could include involving some of its other investment vehicles in an attempt to raise its profile.

The hotel group Jumeirah could be used as part of the development of a new stadium. A wide-ranging review of the club, and its revenue streams, will be conducted.

DIC's confidence appears to stem from claims that some of the loans Hicks used to buy Liverpool are due to be refinanced again soon with the American money markets now less welcoming to big loans as a result of the credit crunch.

Tom Hicks pulls plug on DIC purchase

Hicks aiming to hold all the power as he pulls the plug on DIC

Tom Hicks has ended negotiations with DIC over their proposed purchase of 49% of Liverpool Football Club. Citing DIC's requirement to run the club by 'committee', he has ended the delicate negotiations that were going on in Dubai.

Hicks today said: "Based on a meeting held earlier today in Dubai between my representatives and officials of Dubai International Capital LLC, as well as other recent contacts between us and them, I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop and, in turn, in the Club.DIC made it clear that if they invested in the Club, they would want it to be managed by committee."

"Based on my thirteen years of successful experience as an owner of professional sports teams, and based in particular on the situation at Liverpool Football Club over the past year, it is clear to me that such a committee approach would not be in the best interest of Kop, of the Club or of the Club's loyal and passionate supporters.Accordingly, I have decided to exercise my right under the Kop Football (Holdings) Limited partnership agreement to veto any sale of any portion of Kop and the Club to DIC. I and my colleagues and representatives will continue to explore a number of other options with regard to the ownership of Kop and the Club aimed at achieving an appropriate ownership, financial and organisational structure for Kop and the Club over the long term."

It is now unclear exactly what will happen next after this surprise move. Is it a prelude to a Hicks total sell-off, a mere tactic as the negotiations unfold or has Hicks really walked away to seek other options? George Gillett clearly wants to sell, DIC want to buy, but it seems the sticking point has been the issue of who will have the major say in running Liverpool. Minority shareholder rights are obviously significantly more limited than the majority holders, and it appears an impasse has been reached due to DIC wanting to mitigate this.

Hicks is clearly in trouble attempting to raise finances to own Liverpool outright, he cannot go on working with Gillett, so he has to resolve the situation somehow, but how this will end up is anyones guess. DIC seem very determined to get Liverpool in the long run, but they are dealing with an equally determined man in Tom Hicks.

Meanwhile Liverpool are in Milan preparing for their second leg game against Inter Milan, after winning the first leg 2-0. Missing are Xabi Alonso and Steve Finnan, but Javier Mascherano is back in the squad after pulling a hamstring in the 4-0 win against West Ham.

DIC clinch deal for 49% of Liverpool FC

Marriage made in hell? Hicks & DIC now the owners of Liverpool, as Gillett walks away

DIC have agreed a deal to purchase 49% of Liverpool FC from George Gillett. Gillett will also sell 1% of his holding to his partner, Tom Hicks, giving him technical majority control with a 51% holding.

The deal worth upto $170m was agreed late Friday, and Amanda Stavely, leading negotiations for DIC said "The legal documents have yet to be signed, but we're really pleased," said Staveley. "Of course we want to own Liverpool outright but this large stake is a great start."

DIC clearly have a long term goal to own Liverpool outright, and it is unlikely that they would be going down this avenue, unless they thought they could do so. However in the short term DIC need to agree on a partnership with Gillett's co-chairman and fellow American, Tom Hicks, who has made it clear he has no intention of giving up his control of Anfield.

It is understood that despite Hicks' angry media attack on Staveley on Saturday, he has not ruled out the possibility of a key meeting with DIC executives in Dubai today.

DIC to buy Gillett Liverpool share

DIC in for the kill as Gillett ready to sell and Hicks stands aside

George Gillett and DIC are moving ever closer to a deal for DIC to purchase his 50% stake in Liverpool. In dramatic developments, Tom Hicks has contacted DIC to inform them he will not stand in the way of the deal and has committed to undertake further discussions with DIC on the future of the club.

DIC are now increasingly confident that a deal will be done that will allow them full control of Liverpool in the near future, and events do now seem to be gathering rapid momentum towards a full DIC takeover. DIC had such faith a deal will be done, they dispatched a representative to Liverpool for the game against West Ham on Wednesday, to talk with fans groups regarding the future direction of the club.

These latest events will delight Liverpool fans who have rapidly lost all faith in the clubs American owners, after the covert meetings with Jurgen Klinsmann, the relatively low net transfer spending, and the loading of the club with debt after originally denying this would happen. Maybe the angry reception Tom Hicks Jnr recieved in the Sandon Pub and the fans protests have convinced them to abandon their investment with the tidy profit promised by DIC? Either way, DIC going public with comments on the discussions to date was a clear tactic to stir up more anti-Hicks and Gillett feeling, by giving the fans the possibility of DIC coming to the rescue.

It's a season of turmoil at Liverpool and a number of figures at the club now face very uncertain future. Rafael Benitez is by no means certain to stay in his job if DIC takeover. DIC are reportedly as unconvinced by the teams results as the Americans have been after another season of underachievement, and Jose Mourinho is looming large as an unemployed proven successor. Rick Parry must also now be wondering if he will be at his beloved Liverpool next season. He reportedly understands he may well be moved on if DIC take control, but would reluctantly do so providing the club are in good hands, and he does not consider Hicks and Gillett to any longer be the ones to take the club forward.

David Moores will also most likely be a victim of the boardroom power struggle regardless of wins. If Hicks gains full control, he is unlikely to survive given the soured relationship, and if DIC move in, they have already signalled their intention to bring in their own team

DIC Takeover - Liverpool fans urges Hicks & Gillett to sell

Liverpool fans stage half-time 'sit in' and send message across the Atlantic

Liverpool's fans staged a half-time 'sit in' during their Premier League 4-0 victory against West Ham and made a barrage of noise against Liverpool's American owners Tom Hicks and George Gillett. "Liverpool Football Club is in the wrong hands," fans sang while banners where unfurled that read read "Take ya bounty and get out of our club" and "Dubai SOS. Yank Out." Fans are upset that Hicks and Gillett, who bought the club in March, have saddled the club with debt and large interest payments, after denying they would do so, have failed to progress building a new stadium and sought to replace popular manager Rafa Benitez in a covert meeting with Jurgen Klinsmann.

 

There's no denying that this protest is exactly what DIC has sought to instigate, with its briefings and public comments to the media. Rather than this story coming to a rapid conclusion, it is only the beginning in an end-game DIC will hope see them gain full control of Liverpool. DIC are now seeking Gillett's share, while hoping to force Hicks into also selling via fan pressure. They are clearly seeking to exploit the fan's distaste for the Americans by increasing the protests against them, to the point where their position becomes untenable.

 

Hicks has repeatedly said he wants to keep is stake in the club, while Gillett has signaled a willingness to sell. However, Hicks has said he can block Gillett from selling. Also it is widely being reported that despite the public stance Hicks is continuing to talk to DIC. DIC clearly think they have a good chance of wresting control of Liverpool from Hicks and Gillett and are upping the ante' in their attempt to do so. Reports are now surfacing of an increased offer to Gillett, that would allow him to walk away with 80 million pound profit. Gillett is disputing this and puts the figure at 40 million.

 

This whole sorry, tawdry tale has some time to run yet and who knows the eventual outcome. As a Liverpool fan I only wish for a rich owner and stability!

DIC Liverpool takeover - midnight deadline or its off

DIC tell Hicks and Gillett its midnight or your dreaming

The battle to gain control of Liverpool is rapidly reaching a climax, with DIC telling Tom Hicks and George Gillett they have until midnight to accept their offer of 400 million or they will walk away.

DIC also upped the ante in their rhetoric, with Al Ansari accusing the American duo of being in dreamland in their valuation of the club. Reports are that they are increasingly bemused by the billion pound valuation of Liverpool, given that they paid little over 171 million for just over a year ago.

Our view is that this can't come to conclusion soon enough with hopefully DIC being the winners. That isn't anti-Americanism as some people have commented on this site. It's simply that DIC appear to have more investment clout than Hicks and Gillett. All Liverpool fans want is an investor to take the club forward, provide stability and enable them to compete with Europes best. DIC clearly seem the best placed of the two parties to do this.

DIC close to 50% stake in Liverpool

Reports of Gillett to sell his Liverpool share to DIC, while Hicks denies exit talk

Reports are mounting that George Gillett is all set to sell his 50% stake in Liverpool to Dubai International Capital (DIC). His relationship with Tom Hicks is beyond repair, and he is now looking for a way out of the doomed partnership. A specialist team of bankers and solicitors have been put in place by the investment arm of the Dubai government as it awaits permission to study the club's books, which it is understood will be granted shortly.

DIC are reportedly willing to purchase his share, but not in a deal that will leave Hicks in charge of Liverpool. They are looking to make immediate decisions on the Liverpool's future post the deal, and will look to either dilute or purchase some of Hick's share so they will have majority control of the club.

It is anticipated the deal to purchase George Gillett's 50% share could be concluded within three weeks, and then lead onto a second stage whereby attempts will be made to gain majority control of Liverpool.

Hicks meanwhile has reiterated his stance on holding onto his stake in Liverpool, again making a long term commitment to the club. Whether this position will be held in the medium to long-term given his inability to buy out his partner remains to be seen. Liverpool's fans will be delighted at developments and will hope that Hicks also sells his stake in the not to distant future.

Its a fascinating but worrying time to be a Liverpool fan, and this tale is sure to have many twists and turns yet!

Hicks & Gillett to sell Liverpool as DIC wait to takeover

Rumours turning to action as DIC close to securing takeover of Liverpool

In news that will delight Liverpool fans, it is being widely reported that a deal for a DIC takeover of Liverpool has moved substantially closer today. The American owners George Gillett and Tom Hicks, are reportedly ready to open Liverpool's books and DIC's advisors have set themselves a mid-March deadline to complete the first stage of a two-stage takeover process.

George Gillett is widely expected to be the first of the duo to sell his stake, however Tom Hicks, the more abrasive of the two, is not going to go quietly. DIC wish to secure full control of the club in the long term, however Hicks wants to remain in charge after the deal, which has been swiftly rebuffed.

A more likely outcome is that Hicks will remain on the board in the short term, and DIC will seek to dilute his holding by injecting equity into Liverpool. This injection will cover the cost of the new stadium, present debts and funds for new players. They will also seek to provide stability after a season of unprecedented turmoil at Anfield.

Hicks is understood to have tried to raise funds to buy out his partner, but failed due to the credit crunch. That he is fighting to remain in control of Liverpool, and that DIC are so stubbornly pursuing ownership, makes it clear that Liverpool promises a substantial return on investment for these two sets of hard-headed businessmen.

Liverpool fans will just be glad to see the back of Hicks and Gillett, who have brought nothing but turmoil and broken promises to Anfield.

Liverpool closer to DIC takeover

Hicks softening to DIC Liverpool bid, as Gillett is expected to be first to go

Reports are being leaked to the media by one of the camps fighting over Liverpool, that Tom Hicks is now softening towards a takeover of Liverpool by DIC. The News of the World is reporting that the Americans will profit by 50 million pounds, when the deal is finally done, with Gillett the first one to be bought out. Liverpool are now valued at 400 million, with 350 million worth of debt, giving Hicks and Gillett their 50 million profit.

It will be a long and slow road however, with a nightmare scenario mooted of Hicks buying out Gillett, and assuming sole control. DIC however, are seeking a swift closing of the deal, but Hicks remains the major obstacle to completion of their takeover of Liverpool.

Interestingly, Chris Bascombe, in what must be more leaked briefings to the media, states Benitez and Hicks have now formed an unlikely alliance. Not sure what this all means, but clearly DIC are closing in and the instability surrounding Liverpool will be around for the rest of the season at least. Also given results, regardless of who owns Liverpool, Rafa Benitez must be odds on to be removed at the end of the season.

DIC to take over at Liverpool?

DIC edging closer to a deal for Liverpool and Yanks looking likely to move on.

Dubai International Capital are looking likely to agree a deal before the end of March, with Liverpool's American owners. The Mirror says an outline agreement to transfer ownership of the Anfield giants from George Gillett and Tom Hicks, to Dubai International Capital is in the pipeline.

Sources in New York have confirmed that a £460million deal with DIC - the Dubai government's financial arm and headed by Sheikh Mohammed Bin Rashid Al Maktoum s now close to being sealed, with Liverpool set to change hands twice in a little over twelve months.

The price for Liverpool is well below the gambit claim of £1billion that was put on the club by Hicks in November (He and Gillett paid just £219m to take control of Liverpool from David Moores a year ago).

Despite leaving Liverpool with a £350m debt, they will be able to walk away having made a substantial profit. Liverpool's fans will be overjoyed at the news and on tenterhooks until it comes off. The Yanks are pretty well loathed by all Liverpool fans, so news of an impending exit will be joyfully recieved!

DIC prepare Liverpool bid

DIC still keen as Hicks and Gillett get closer to refinancing

Dubai International Finance is preparing to bid again for Liverpool Football Club. The Liverpool Echo, long known as the voice of the club, is reporting that DIC are preparing to launch a bid for Tom Hick's stake in the club. Hicks and Gillett are getting closer to a refinancing deal, but DIC see the present struggle to refinance the loan as a window of opportunity to once again acquire an asset they have long coveted.

Whether Hicks will be willing to sell remains to be seen. He and Gillett fought long and hard to acquire Liverpool, and both are still of the firm view that it is an asset that will deliver a sizeable return in the long term.

Footy Focus suspects Liverpool fans will be praying for DIC to enter the fray, and remove at least one of the Americans out of the equation, in what has rapidly turned into a disasterous foray into the Premier League for Hicks and Gillett. Rafa Benitez too, wont be upset that at least one of the Americans maybe going, as it clearly represents his best hope of remaining in charge.

The next few days and weeks are going to very interesting as it all plays out. Sources close to Gillett insist he is undecided over whether to agree to the refinancing deal being mooted, or pursue the partnership with DIC, in an attempt to buy out Hick's share.

Arabs back in for Liverpool Takeover

DIC back in the frame as Gillett & Hicks get cold feet

Dubai International Capital are according to reports, back in the frame for a takeover at Liverpool. Also the Americans have, due to the global credit crunch, struggled to refinance the loan they took out to purchase the club, which is due for repayment at the end of February. Contrary to their original stated intentions, the duo have been attempting to transfer the liability for the debt onto the club itself. City sources say this will be extremely difficult to do, and their attempt to do so has caused tensions amongst the Anfield board.

The other members of the board are thought to be horrified that George Gillett and Tom Hicks have not brought long-term stability to the club, and reports have it that Parry and Moores are open to another takeover.

Its been mooted that the Americans want 1 billion for Liverpool, which has been ridiculed, but it is reported that a value of 500 million would be acceptable, with the Americans making a 75 million profit each. The Guardian reports takeover talks are thought to be scheduled for later this month