Tom Hicks’ Liverpool Debt To Be Refinanced

by Rodney on Jun 23, 2009 4:32 PM CDT Comment 18 comments

The BBC is reporting that Royal Bank of Scotland will refinance a debt of £350 million that was due to be paid in July. There are, however, still negotiations ongoing with Wachovia, which also is due part of the loan.

Email response from Hicks:

“We have been working closely with RBS for several months on both an extension and a permanent financing, and have their commitment to do so. Our new Managing Director, Christian Purslow, is leading the negotiations for us, and we anticipate finalizing everything during the next few weeks. Liverpool had a record year financially and came within a few points of winning the English Premier League for the first time in 20 years.”

From Insidecorner.

Let's hope this frees up some cash in the budget for an acquisition.

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Good news

This at least takes away some of the uncertainty hanging over the head of Hicks Holdings.

"wORLD sEIRES HERE WE COMER!!!!!!!!!"by bigsteve on May 29, 2009 10:21 PM PDT
"Elvis Andrus has just performed a miracle." -Eric Nadel

by WestTxAg06 on Jun 23, 2009 4:35 PM CDT reply actions 0 recs

The story makes it sound as if

Hicks is so broke that the banks wont take the rangers as collateral so he has to sell his interest in order gain the option to refinance. (i assume this means he needs to make a “down payment” so to speak.

mormons stole me and held me against my will with Oklahoma beer and 12+ hour work days.

by Jayslick on Jun 23, 2009 5:33 PM CDT reply actions 0 recs

I suspect so

And I think the fact that Gillett suddenly has a ton of cash on hand helped to influence the bank to refinance.

Hopefully this means the Reds get that new stadium and a bit more transfer money to spend on a top-notch winger and a solid backup for Torres.

"I dont care to debate with a troll." - Sharky

by RCCook on Jun 23, 2009 5:52 PM CDT up reply actions 0 recs

Yes, we all really care about that, too.

Poops a little

The 40 Trumps All!!!

Everyone needs to drive a vehicle, even the very tall. This was the largest auto I could afford. Should I therefore be made the subject of fun?

by thedirkatron on Jun 23, 2009 8:48 PM CDT up reply actions 0 recs

Heh, like Glen Johnson?

What the hell was that? If I held his debt I’d be like Um, you can’t pay us but you shell out 18 mil Euro for a guy who’s had one decent season? Not so much.

"Was this really necsarry?" - cowpoke/hurler hurley

by trza on Jun 23, 2009 9:36 PM CDT up reply actions 0 recs

Johnson

He’s not a star, but he is the current starting right back for England, and Liverpool needed another English player or two to meet the Champions League requirement that a team have eight players from your “home” country on their roster.

Honestly, I thought the price was a bit excessive too, but Chelsea was willing to match the bid, and Portsmouth still owed Liverpool 7 million pounds for Peter Crouch, which was applied towards the bid for Johnson, so Liverpool only shelled out 11 million total.

Supposedly, they have enough transfer money for one other big signing, and can finance another minor signing or two if they sell off some of the fringe players on the team.

That’s probably more than most of you non-soccer/non-Liverpool fans wanted to know. :)

"I dont care to debate with a troll." - Sharky

by RCCook on Jun 23, 2009 11:01 PM CDT up reply actions 0 recs

As a Chelsea fan...

…I’d rather just stick with Bosingwa. But since that seems to not be an option (though I’m still confused as to why), I think I’d rather just have a better player like Maicon and try to play the home country roster game at other spots.

by GhettoBear04 on Jun 24, 2009 12:34 AM CDT up reply actions 0 recs

maicon is one of the best backs in the world

and is owned by inter, where the special one manages, no way in hell you can get him off inter. 2 of the best right backs in the world are alves and maicon, alves is owned by barca and maicon is owned by inter who mourinho coaches.

good friggin luck, which why liverpool bought johnson

mormons stole me and held me against my will with Oklahoma beer and 12+ hour work days.

by Jayslick on Jun 24, 2009 9:21 AM CDT up reply actions 0 recs

I know.

I didn’t think he was even available, but his manager is making a lot of noise and Inter wants Deco and Carvalho. And for some reason Bosingwa to Bayern seems done…I still can’t figure out why.

I didn’t mean to suggest it was a done deal, but considering the options that’s how I’d rank them. Not that Bosingwa is better than Maicon, just that I’d rather see the money spent elsewhere.

by GhettoBear04 on Jun 24, 2009 11:44 AM CDT up reply actions 0 recs

and out of the 10M pounds they owed on glen

they are splitting up the payments over the years of his contract (5) so they are really only paying 2M a season for 5 seasons. Rafa said the other day that this wouldnt limit another signing and that they dont need to sell to buy. all thats good. so as much as i hate the idea of spending 17M pounds on him, its not really costing that much at the moment that would limit the purchases going forward.

besides arby is strong on defense and his weakness is getting forward while glen’s game is the other way around and he accelerates at getting forward. If LFC can have both an stick glen in for those games against lesser teams, they should win it all this season. we win one game against a fulham or a weaker team this season we drew to and we are champs, so i can see why he was purchased.

mormons stole me and held me against my will with Oklahoma beer and 12+ hour work days.

by Jayslick on Jun 24, 2009 9:18 AM CDT up reply actions 0 recs

Yep

I’d like to see them keep Arbeloa too. Johnson’s going to make a big difference against those teams that like to pack the box against us- Fulham and Stoke, for example- and it’ll be nice to have a right back who’s fairly adept at whipping in crosses.

I am curious to see what other attacking players Rafa has in mind. I’m pretty much inclined to give Babel a full season as Torres’ backup (he’s better as a striker anyway) and go get another winger that can give Riera and Kuyt some competition.

I’m also very inclined to tell Real Madrid and Barca to fuck off and stop asking about Xabi and Masch.

"I dont care to debate with a troll." - Sharky

by RCCook on Jun 24, 2009 9:43 AM CDT up reply actions 0 recs

we're on the same page on that stuff

no to masch and no to xabi moves thats the spine of the club. Give babel a shot at 2nd striker and see what he can do when torres is out and give him time to develop and spend big on a wing to help/put competition on the left side a la gerry laird when he caught. and if the rumors of micah richardson is available in the cheap

mormons stole me and held me against my will with Oklahoma beer and 12+ hour work days.

by Jayslick on Jun 24, 2009 5:00 PM CDT up reply actions 0 recs

Micah Richards

I wouldn’t mind having him if he’s cheap- he can play CB and RB, which we’ll need if Arbeloa goes.

I read a few minutes ago that it looks like Sebastian Leto’s off to Panathinaikos, which will put another 3 million pounds in the transfer kitty. Oddly enough, Djibril Cisse is about to sign for them as well! I remember thinking that he was going to be a star for us. Oh, well…

"I dont care to debate with a troll." - Sharky

by RCCook on Jun 24, 2009 7:32 PM CDT up reply actions 0 recs

And from the Department of Irony Department:

The Number 1 Most Expensive Home in Dallas 2009

Cinda and Tom Hicks
$41,462,030
On the one hand, the investor and sports team magnate looks to be in trouble: he recently defaulted on $525 million in loans, he’s trying to sell off parts of the Stars and Rangers, and this month the $400 million loan he used to buy Liverpool FC comes due. On the other hand: he lives in a 28,996-square-foot house on 25 acres, and last year he used 10 million gallons of water.

"Back on the scene, with a gangsta lean" RW
"you gonna lose your horse. seriously." FX2
Yes we can! November 04, 2008

by Rodney on Jun 23, 2009 6:42 PM CDT reply actions 0 recs

Might as well pump big money into a house

if you might go bankrupt. I thought under Texas Bankruptcy Law you couldn’t take the house in bankruptcy proceedings.

"I saw a soldier try to dig a foxhole with his bare hands. He didn't notice that he'd torn off all his fingernails. I got him out of there quickly; not for his sake, but for ours. Fear is poison in combat...destructive, contagious." - Band of Brothers

by DJCahill on Jun 23, 2009 6:49 PM CDT up reply actions 0 recs

nope

go ask enron employees.

but the water bill can come collecting…

"I just want to comment on how it’s become like a common thing in the [MLB] for guys to fall in love with [the Rangers’s] sloppy seconds." (thanks cstorm)

by ab03 on Jun 23, 2009 6:55 PM CDT up reply actions 0 recs