Liverpool FC Forum

by **112-1077774096** » Fri Mar 09, 2007 11:16 am

football 365

AMERICAN TAKEOVER ACCEPTED AT ANFIELD

Liverpool's takeover by George Gillett and Tom Hicks took a huge step towards a complete buy-out today when they announced to the Stock Exchange they have already secured 80.7% of all shares.

They need just another 9.3% to force a compulsory purchase of every share, and they have extended Monday's 3pm deadline until March 26 to allow remaining small shareholders to agree to sell and claim the package of privileges - including season ticket and cup ticket purchasing - on offer.

Gillett and Hicks attended Tuesday's memorable Champions League triumph over Barcelona at Anfield and afterwards received more good news having reached the 75% per cent take-up needed to make today's announcement of securing unconditional control.

It is believed the American sports tycoons met major figures ahead of the Barcelona game in Liverpool's boardroom to be assured there would not be any significant shareholder who would be holding out.

Those key men included Steve Morgan, previously the third-biggest shareholder with 6% who had four times tried to buy the club from chairman David Moores in recent years. It is also understood that Terry Neill, who has 3%, was involved in talks.

Morgan is also believed to have been introduced to Foster Gillett, George's son, who will be installed full-time alongside chief executive Rick Parry to run the club in the future.

Hicks and Gillett were therefore sufficiently confident of claiming that combined 9% that they have been able to make today's announcement, three days ahead of the original deadline.

Morgan is currently out of the country and was unavailable for comment yesterday, but he is not willing to make what would be just a pointless gesture by holding on to his shares and being forced to sell at a later date.

The announcement today also sends a strong message to stragglers who own just a few shares each, that the battle has been won by the US tycoons.

Once Moores sold his 51% to them, there was only going to be one winner in what will be a £470million injection of new money into the club that will secure the new stadium in Stanley Park, wipe out the £80million of debt and give manager Rafael Benitez significant transfer funds.

And by announcing a two-week extension Gillett and Hicks have shown themselves to be reasonable and understanding of fans' emotional attachment to the one or two shares many of them have as long-standing family involvement.

Two major city institutions with 3% each have also sold up and if Morgan and Neill do likewise, there will be no significant holders left.

The Americans do not want to be seen as buyers forcing shareholders out, so extending their package of privileges for a further two weeks is an important gesture.

The statement to the Stock Exchange this morning confirmed the American pair yesterday "received valid acceptances in respect of 28,089 Liverpool shares, representing approximately 80.7% of Liverpool's issued share capital to which the offer relates."

Shareholders had been offered £5,000 per share from Gillett and Hicks' Kop Football Ltd bid vehicle, and a positive response has seen the pair comfortably reach the 75% required for unconditional control.

Work is now expected to start on the new 60,000-seater Stanley Park imminently, with the pair having held further meetings this week after witnessing the Reds' away-goals victory against Barcelona.

The two sports tycoons, who both own NHL ice hockey franchises, spoke then of their joy and amazement after the latest European night - their first at Anfield.

Hicks said at the time: "That was like nothing I have ever heard or felt before. I've seen a lot of sporting events around the world, but nothing comes close to that.

"It was a special night, I was blown away by the crowd and the atmosphere."

For Moores this has been an emotional week, the end of 16 years as chairman in which the club won every honour in the game except the Premiership - including two European competitions.

Moores, who will stay on as a director and life president, said earlier this week: "The last 16 years have been an honour and a privilege for me.

"There have been difficult times, particularly over the last three years, but the thing which kept me going was the backing of the grass-roots supporters.

"I just want to take this opportunity to thank the supporters, the majority of whom have given me fantastic support over the last 16 years."

LIVERPOOL TAKEOVER TIMELINE

2004: March - Thailand's Prime Minister, Thaksin Shinawatra, is revealed to be interested in buying a stake in the club.

May - Shareholder Steve Morgan claims he has had two bids to take over the club turned down.

Shinawatra makes a formal bid for a 30% stake in the club.

June - Shinawatra ends his interest in Liverpool.

Thai media tycoon Paiboon Damrongchaitham reveals interest in buying a stake in the club.

August - Liverpool reject another takeover bid from Morgan.

December - Morgan abandons his proposed takeover.

2005: November - American billionaire Robert Kraft refuses to rule out investing in Liverpool.

2006: March 29 - Liverpool board confirm talks with potential investors which "may include an offer for the entire share capital of the club".

December 4 - Liverpool confirm they have "entered into a period of exclusive negotiations with Dubai International Capital about a possible investment in the club".

December 28 - DIC deny allegations it plans to sell the club in 2014 after making a huge profit.

2007: January 26 - Liverpool reveal American businessman George Gillett has made an approach "which may or may not" lead to a takeover offer.

January 30 - Liverpool board meet to discuss Gillett proposal after deciding not to formally accept DIC bid.

January 31 - DIC pull out of takeover.

February 2: It emerges Tom Hicks, another American owner of an ice hockey team, joined Gillett in flying to England to present Liverpool chairman David Moores and chief executive Rick Parry with their provisional offer.

February 6 - Liverpool agree to the terms offered by Gillett and Hicks to purchase the club's entire issued share capital.

March 9: Gillett and Hicks' Kop Football announces to the Stock Exchange they have met the acceptance condition of 75% required to secure unconditional control of the club.

by **red37** » Fri Mar 09, 2007 1:04 pm

A new phase in the history of this club has been entered, a new era of hope and optimism.

Here's to the incoming owners enjoying real success with Liverpool FC and its interests on/off the park.

Good luck Mssrs Hicks/Gillett and thankyou Mr Moores for your unstinting loyalty and support.

by **redmikey** » Fri Mar 09, 2007 3:21 pm

here to future sucess

by **Rafa D** » Fri Mar 09, 2007 3:41 pm

I haven't been around here much due to being busy with other commitments but I am glad to read that the takeover seems to be going through with minimum fuss.

I didn't envisiage any problems even with Mr Morgan but its nice to see no surprises in what is the biggest moment for our club in a while - business wise. I went the Barcelona game the other day and on European nights I sit about 3 rows in front of the directors box, so get to see all the injured players, Moores, Parry etc. I seen Mr Hicks in the box very early on, on Tuesday night and turned round to give him a little wave to which he waved back. Mr Gillett turned up and many fans got there programmes signed by him and Hicks but I couldn't be arsed to be honest. They seemed to enjoy the Anfield atmosphere and at the end when the final whistle went I turned round and raised a clench fist to which Mr Gillett blew me a kiss?!? ask timmit he was sitting next to me. I gave him a bamboozled look and he just laughed so I assume he just got caught up in the emotion of it all. I am looking forward to the new era under the Americans. I am not against foreign ownership at all but am slightly glad it was the Americans more than DIC. They have made all the right noises and if there good enough for Moores, then they are certainly good enough for me.

Mr Hicks has been quoted as saying he wants to run the football club more like United than Chelsea and that suits me fine. I don't want to become a home for football mercenaries. I want players to come to this club to play for the club and its fans. We are more than a club here at Liverpool, "were like a marriage of people who like each other" and I am certainly happy to welcome Mr Hicks and Mr Gillett into our famliy.

by **RedRoots** » Sat Mar 10, 2007 5:26 am

"were like a marriage of people who like each other"

Unlike a normal wedding then

by **Crouchamania** » Sat Mar 10, 2007 10:11 am

Yeah I think thats what he was hinting at

by **Kash_Mountain** » Sat Mar 10, 2007 1:33 pm

redmikey wrote:here to future sucess

Agreed.

Someone get down to Ik3@ and buy throphy cabinets by the truck load

by **RAGE UK** » Sun Mar 11, 2007 2:01 am

Amiga wrote:WOOOO USA WOOOO LIVERPOOLSA WHAT C.UNTS YOU LOT ARE, FOREVER IN BISHOP AUCKLANDS SHADOWS.

IS THAT YOUR BRAIN OR AE YOU BRAKING IT IN FOR AN IDIOT

by **angel717** » Sun Mar 11, 2007 2:43 am

red37 wrote:A new phase in the history of this club has been entered, a new era of hope and optimism.

Here's to the incoming owners enjoying real success with Liverpool FC and its interests on/off the park.

Good luck Mssrs Hicks/Gillett and thankyou Mr Moores for your unstinting loyalty and support.

Agreed! Here's To Future Success!!!!

by **The Manhattan Project** » Sun Mar 11, 2007 4:12 am

WOOOO USA WOOOO LIVERPOOLSA WHAT C.UNTS YOU LOT ARE, FOREVER IN BISHOP AUCKLANDS SHADOWS.

The Shadows?

What's Sir Cliff Richard got to do with football?

by **Bad Bob** » Mon Mar 12, 2007 7:21 pm

jorgevb1 wrote:
The Manhattan Project wrote:
WOOOO USA WOOOO LIVERPOOLSA WHAT C.UNTS YOU LOT ARE, FOREVER IN BISHOP AUCKLANDS SHADOWS.

The Shadows?

What's Sir Cliff Richard got to do with football?

nothing. nor has cliff richard's shadows anything to do with bishop auckland - theyre from acton, actually.

Picked that up in Honduras did you "Jorge"?

Get a life, WUM. :angry:

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