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Tom Hicks Liverpool Owners Sounds Like A Deluded Home Owner

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http://www.newsoftheworld.co.uk/sport/football/978593/A-KOP-ALYPSE-NOW.html

TOM HICKS has unveiled devastating plans to delay the sale of Liverpool for up to TWO YEARS.

The Texan is on the verge of a £280million deal with The Blackstone/GSO Group to retain his share in the cash-stricken club and buy out partner George Gillett.

Despite the hatred towards him on Merseyside, Hicks told the rest of the Anfield board in a meeting this week the refinance agreement will be signed by October 1.

But in a move which will cause deep despair on Merseyside, the terms would ensure the American has until 2012 to find a buyer.

.......

By 2012, the value of the club is more likely to have plummeted due to consecutive years without Champions League football.

As Sport of the World first revealed a month ago, Anfield is in the grip of a boardroom war over refinancing.

.......

Planning permission for the new arena on Stanley Park will have expired by September, 2011. And the GSO deal will also mean the debt against the club rises and interest rates increase.

Hicks in this sounds like a deluded home owner that's struggling with debts and decides to keep the house on in the hope that in a few years it's going to be worth more.

Debt is a killer, but these are very "wealthy" people so I'm sure they understand far better than I do.

Rather than exiting with no debt he's prepared to gamble and hope he can leave with a profit, amazing how many people think that debt is actually worth something and they should be rewarded for having acquired it.

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http://www.newsoftheworld.co.uk/sport/football/977802/ASHLEY-PLOUGHS-MORE-CASH-INTO-TOON.html

MIKE ASHLEY has personally had to plough nearly £50 million into Newcastle in the last 12 months to keep the club viable.

The club's perilous financial position meant that Ashley had to finance both the fees AND the new salaries to land five players during the transfer window.

That saw the Sports Direct owner underwrite around £13 million in deals that landed Cheick Tiote, Sol Campbell, Hatem Ben Arfa, James Perch and Dan Gosling.

Newcastle had previously gone on record at the end of last season to declare that there would be no funds available to strengthen the squad that Chris Hughton led to the Championship title.

That was a legacy of relegation and also the fact the club was wrestling with a £30million overdraft.

And in the same paper we have this story, football is drowning in debt.

Then there's this article as well in the same paper:

http://www.newsoftheworld.co.uk/sport/football/941981/I-WILL-NEVER-MAKE-ANY-MONEY-OUT-OF-FOOTBALL.html

"Football clubs cannot and should not be toys," said Belokon, 50, who is worth about £250m compared to Abramovich's £9billion.

"In my other companies, once a year we have a shareholders' meeting. At Blackpool, there is a shareholders' meeting every week - the thousands of supporters.

"There are 11 healthy, strong men on the pitch. They don't need charity. They should earn decent money, but not excessive money.

"I want a healthy business. I'm in the banking business so I give loans to people with the expectation of getting the money back. There are a lot of debts in football which will not be repaid, and that is not right. People can throw money around, that's their problem, but it creates other problems when clubs try to compete.

From Blackpools owner.

It will be interesting to see how long this football bubble can be sustained for. So far Sky appear to have sustained subscriber numbers. If that falters the Premier league could get very interesting very quickly. However I'm sure that in the current financial climate households will continue to keep paying Sky £50 a month for sport..... (or what ever it is now)

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  • 150 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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