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Liverpool Takeover Agreed

Gavmundo2010-05-02 19:24:12 +0000 #1
American duo George Gillett and Tom Hicks have reached an agreement to buy Liverpool in a deal thought to be worth £470m, BBC Sport understands.

The pair announced their buy-out to the Stock Exchange on Tuesday.

Liverpool chairman David Moores, who will become an honorary life president, said: "This is a great step forward, its shareholders and its fans."

The club have called a news conference at 1400 GMT to announce the details of the takeover.

Hicks and Gillett, who beat off competition from Dubai International Capital, will split the cost, paying about £175m for the shares in the club, £80m to cover the debt and a further £215m towards a new stadium.

A club statement said: "Liverpool FC today announced that the board have agreed the terms of an offer for the club from Mr George Gillett and Mr Tom Hicks.

"The board are unanimously recommending that the club's shareholders accept this offer."

Moores added: "This club is my passion and forms a huge part of my life. After much careful consideration, I have agreed to sell my shares to assist in securing the investment needed for the new stadium and for the playing squad.

"I urge all my fellow shareholders to do the same and to support the offer. By doing so, I believe you will be backing the successful future of Liverpool.

"I am also delighted to accept the offer from the Hicks and Gillett families to continue my involvement in the club by becoming honorary life president."

Liverpool chief executive Rick Parry added: "This is great for Liverpool, our supporters and the shareholders - it is the beginning of a new era for the club.

"They are bringing to the table tremendous and relevant experience, a passion for sport, real resources and a strong commitment to the traditions of Liverpool.

"Their approach represents exactly the sort of genuine partnership that Liverpool has been seeking over recent times.

"We know that George and Tom want a long-term relationship with Liverpool and that they also understand the importance of investing in our success both on and off the field.

"They have made clear their intention to move as quickly as practicable on the financing and construction of our proposed new stadium at Stanley Park and also to support investment in the playing squad.

"This has been an important time for the club. We now have the right partners for the future. I am absolutely certain we have now ended up in the right place, with owners who will help the club succeed and prosper.

A joint statement from Gillett and Hicks said: "Liverpool is a fantastic club with a remarkable history and a passionate fanbase.

"We fully acknowledge and appreciate the unique heritage and rich history of Liverpool and intend to respect this heritage in the future.

"The Hicks family and the Gillett family are extremely excited about continuing the club's legacy and tradition.

"We are particularly pleased that David Moores and Rick Parry will have a continuing involvement in the club. For us continuity and stability are keys to the future."


holicman2010-05-02 19:34:50 +0000 #2
This is absolutely fantastic news

Im extremely happy and I really hope that we can see us reach the heights we once had back in the 70's and 80's
Gavmundo2010-05-02 20:02:12 +0000 #3
Well I don't But welcome to the U.S. Club
Adammac192010-05-02 20:27:07 +0000 #4
I think this is a big step for Liverpool to compete in today modern game. I was impressed with what they said in the interviews but then again talk is cheap but buying the club debt free, no ground sharing and letting Rafa do what he wants with the club were all things I like to hear from the chairmens.
sandanista2010-05-02 19:39:29 +0000 #5
Quote:

Originally Posted by Adammac19

I think this is a big step for Liverpool to compete in today modern game. I was impressed with what they said in the interviews but then again talk is cheap but buying the club debt free, no ground sharing and letting Rafa do what he wants with the club were all things I like to hear from the chairmens.

only time will tell if they are as good as their word.

they won't have a bottomless pit of money like chelsea do and at the end of the day Hicks and Gillet are business men and are only getting involved because they see an opportunity to make money but i do think that liverpool will be looking to spend heavily this summer as Hicks has a history of splashing the cash to get the players he wants.

interesting to hear them refer to liverpool as a 'franchise' though - for all their words i dont think heritage and tradition are what really got them involved.

also i wonder how liverpool fans feel about their club now being co-owned by a crony of George W Bush? Hicks is one of Bush's biggest financial contributors.

or couldn't they care less as long as he delivers?
Langbaard2010-05-02 21:17:00 +0000 #6
Yeah you guys seem rather optimistic, but perhaps it's because you will have an even better shot to compete for the title now.

Personally I would hate the fact of a foreign owner taking over my club, I'd be scared our ideals and spirit would be left aside for commercial ends.

Fortunately though, this will NEVER happen here, since Ajax isn't stupid enough to have more than 50 % of their ownership on the market

But since Man Utd, Chelsea etc. have already been victim of a take-over, there's little choice left I suppose, the man seems rather in love with Liverpool, so hopefully it turns out well for them.
Adammac192010-05-02 20:41:56 +0000 #7
Quote:

Originally Posted by sandanista

interesting to hear them refer to liverpool as a 'franchise' though - for all their words i dont think heritage and tradition are what really got them involved.

also i wonder how liverpool fans feel about their club now being co-owned by a crony of George W Bush? Hicks is one of Bush's biggest financial contributors.

or couldn't they care less as long as he delivers?

I agree talk is cheap and we will have to wait and see if they put their money where their mouth is. The whole franchise thing is a term used for North America teams so I really dont read to much into the what words he says but I was impressed he never said "sawker"

Well from the impression I get a lot of supporters dont really care but the odd few do "anti american ones"
Gavmundo2010-05-02 21:15:47 +0000 #8
Well I can't see there being pots of money available. There will be an annual budget as they have already stated but doesn't say how much. People do tend to get a bit over excited when moneymen take over clubs but they are a business remember they aren't just going to throw stupid money at players. Liverpool always had a policy of spending so can't see a big change there! The New Stadium is a big plus though!

The Chelsea takeover is a one off. You don't see too many clubs throw so much money into transfers. They money comes from Roman's personal fortune which is a lot different to paying via the Business as 99% of other clubs do.

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