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Rbs (Uk Taxpayer) Getting Closer To Taking Over Liverpool?

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Can't find the notw article as it's offline but it's been mentioned before in the press.

http://www.guardian.co.uk/football/2010/aug/08/liverpool-rbs-takeover

Liverpool are two months from becoming majority-owned by the taxpayer, which, the Observer can reveal, has become the likeliest outcome if a sale has not neared completion in that time.

The Royal Bank of Scotland's main £237m loan to the club expires on 6 October and must either be repaid or rolled over. Additional sums owing to RBS are believed to have increased the club's total debt to the bank to £325m. Liverpool's company secretary, Ian Silvester, said: "From what I understand, and that's all I can say, the urgency is there due to the pressure from the banks, so I would anticipate that something will be happening within the next four to six weeks or so."

One option open to RBS would be to put the club's parent company, Kop Football (Holdings), into administration, but that is not favoured since it would almost inevitably lead to a nine-point deduction under Premier League insolvency rules. Instead, the Observer has learned, unless one of the parties involved in negotiations to take over at Anfield follows through with a formal offer, RBS's corporate-restructuring team would assume control of Liverpool and run the club as a wholly owned subsidiary. That would effectively put the five-times European champions in the hands of the taxpayer who, through the government-owned UK Financial Investments Ltd, holds 84.42% of the issued share capital in RBS.

The NOTW article is saying that the 9 point deduction wouldn't happen as it would just be the parent company in administration and not the actual club. So it look like if the owners can't sell the club will be took off them and then the taxpayer gets to run a Prem League football club.

From the other article the plan is for RBS to find a buyer and sell the club on, one would hope for at least the amount the bank is owed. Clearly if there are any interested parties buying from the bank maybe a better option than trying to pay an over inflated price it, plus the bank may lend you the money to buy it with.

Have Hicks and Gillett took management fees out of Liverpool like Glazers have with Man U? Because even if they have they are hardly walking away with nothing from this.

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So it look like if the owners can't sell the club will be took off them and then the taxpayer gets to run a Prem League football club.

yay! Can we take it in turns though so we all get a go?

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China offered to buy it @ cost....but strangly alsorts of other bids "arrived" at the same time.............China smiled & walked away after leaving their card.....the other "bids" suddenly "went away" as well.............i smell "MG Rover"............

Mike

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Can't find the notw article as it's offline but it's been mentioned before in the press.

http://www.guardian.co.uk/football/2010/aug/08/liverpool-rbs-takeover

The NOTW article is saying that the 9 point deduction wouldn't happen as it would just be the parent company in administration and not the actual club.

ISTR Southampton (or was it Crystal Palace?) claimed this to avoid a points deduction.

It didn't work

tim

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I think they're fecked.

Ground is too small, no money, shrinking fan base and a second rate team with diminishing chances to qualify for the major european competition let alone actually win anything.

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http://www.newsoftheworld.co.uk/sport/football/942020/ROYAL-BANK-OF-SCOUSE.html

LIVERPOOL will avoid a nine-point penalty if they fall under bank ownership next month.

The Premier League will approve an Anfield takeover by the Royal Bank of Scotland if co-owners Tom Hicks and George Gillet don't find a buyer or repay their debt by October 6.

The RBS has had power to seize the club before but there were concerns about league sanctions. Fans feared that if the Americans defaulted on their loans the club would be plunged into administration, leading to a nine-point deduction.

And that would almost certainly end their hopes of qualifying for the Champions League with devastating consequences for the club.

But clarification that a bank takeover is within Premier League rules is of huge significance. It means the league recognises the distinction between the owners' debts and the club's debt.

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China offered to buy it @ cost....but strangly alsorts of other bids "arrived" at the same time.............China smiled & walked away after leaving their card.....the other "bids" suddenly "went away" as well.............i smell "MG Rover"............

Mike

smarter than some think those Chinese

what they gonna do about the banksters though

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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