Liverpool's American owners make huge loss

Ugh

almost 3 years ago Brett Perryman 11 comments 0 recs |

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That is right at $69 million, by the way.

Arlington, TX: home of The Blue Blur

by Brett Perryman on Jun 4, 2009 4:39 PM CDT reply actions

Wow.

It’s getting to the point where I expect Hicks to be waiting on me at the Olive Garden on July 25 or so.

G G G E-flat_______ F F F D__________....

by t ball on Jun 4, 2009 4:51 PM CDT reply actions

i knew it was bad news when he bought liverpool

and to think not long after he bought that club he could have flipped them for a profit to dubai according to reports

"I'm against picketing, but I don't know how to show it." - Mitch Hedberg

by rentz on Jun 4, 2009 6:03 PM CDT reply actions

a huge profit. He gambled on completely breaking the bank with their building and all, and he missed his window for a huge windfall that could have really turned things around for him and the Rangers.

And yeah, he was obviously now full of crap when he claimed that his Liverpool ownership was only a good thing for Rangers fans. Even in a solid economy he had tons of debt to service, and the potential was unquestionably there that he would have to look elsewhere in his personal and business portfolio for cash flow. Meanwhile, finances for soccer teams are out there for all to see. Do you think that Liverpool fans were going to accept him diverting cash from their profits to finance his American sports interests rather than buying more players?

Arlington, TX: home of The Blue Blur

by Brett Perryman on Jun 4, 2009 11:10 PM CDT up reply actions

Welcome to American Business post 80s.

Pretty much the name of the game is investor loads up on debt, takes over company. Takes any assets of the company, releverages to get more debt to take over more companies. Most of the money made by companies goes not to employees or reinvested back in to companies capital, it just goes to servicing debt and paying management fees.

Worked OK until you couldn’t borrow any more. Until you ran out of money to borrow, the investors made a lot of money.

You end up with companies like the Rangers who have more debt on their books than their original purchase price, and not being able to service their debt in a downturn.

"Guillermo Moscoso despite his stunning game yesterday, is not a legit prospect. He is simply too old, too skinny, too weak, and lacks the fastball to make it at the professional level. ." - crops.mlblogs.com

by DJCahill on Jun 5, 2009 8:01 AM CDT up reply actions

Economics boiled down to a nice succinct read...

Couldn’t agree more. Add all the mergers into the mix and you have quite the witches’ brew.

The Texas Rangers have been synonymous with explosive firepower ever since they emptied 130 rounds into Bonnie Parker and Clyde Barrow in 1934. - Alyssa Milano

by bking on Jun 5, 2009 10:29 AM CDT up reply actions

This...

He gambled on completely breaking the bank with their building and all, and he missed his window for a huge windfall that could have really turned things around for him and the Rangers.

…is not what happened.

He didn’t sell the team because he wasn’t interested in selling the team, even at a huge profit.

by Texas_Dawg on Jun 6, 2009 5:43 PM CDT up reply actions

Hicks losing money in Liverpool is going to be a good thing for Ranger fans.

Ding, dong, the witch is almost dead.

"Dying ain't hard. It's living that's hard."

by Josey Wales on Jun 4, 2009 11:33 PM CDT reply actions

Only if he sells quickly..

I fear a long, protracted process, as embracing reality is not really his strong suit. He seems able to fool himself quite ably. As you and I have argued before, I think most of his problems stem from what he says and wrongly thinks rather than what he actually does.

The Texas Rangers have been synonymous with explosive firepower ever since they emptied 130 rounds into Bonnie Parker and Clyde Barrow in 1934. - Alyssa Milano

by bking on Jun 5, 2009 10:31 AM CDT up reply actions