£180 million take over bid for Liverpool

[saurabh]

Liverpool are on the verge of a £180 million take over by the man who designed Concorde according to reports.

Robin Herd CBE and his backers have been in contact with the club over the potential deal and lengthy negotiations have already taken place with chief executive Rick Parry.

Parry is now set to call an emergency summit with board members today to discuss the deal as Chairman David Moores is keen to sell his share in the club.

The identity of Herd's partners has not been revealed but it could be motor racing giants Jordan who Herd is rumoured to have made a joint bid for Newcastle United with in the past.


http://www.timesonline.co.uk/article/0,,27-2180888,00.html

[Lonso]

Interesting.

Good find saurabh, thanks :)

[yammy]

Why are you not posting this stuff in the 'Liverpool' thread?:confused:

[saurabh]

Why are you not posting this stuff in the 'Liverpool' thread?:confused:

I missed the thought. Maybe someone will merge it.

[Splatypus]

motor racing giants Jordan
Jordan were never giants and were bought out by Alexander Shnaider's Midland Racing Group last year.

[matt12345]

you're right they were never giants but had a long spell in f1. the outlay for a year in f1 is skyhigh so any buyer coming out of f1 i'm taking seriously.

[sof2xlc]

onl 189 pds? thats chump change.. i thought eng. football was rich

[Harv]

It all depends on which report you believe...saurabh's post indicates a takeover, but many reports I've read state that it is purely an investment (or cash injection) with chairman David Moores retaining his 51% majority interest...

The following article from The Guardian:

Liverpool meet today over cash injection

Monday May 15, 2006
The Guardian

Liverpool's chief executive Rick Parry will today meet Robin Herd, the former chairman of Oxford United, to discuss an investment proposal which would see significant funds pumped into the club and the current hierarchy at Anfield unchanged.

Herd, 67, is not planning to invest his own money but is acting as a conduit for a European financial institution. That group has yet to outline the details of their bid but will finalise their proposal today and hope to have the plans put forward at the club's board meeting on Thursday.

Until they see the proposals, Liverpool are wary of whether Herd's party have enough funds to prompt further talks. Parry, a close friend of Herd, is aware of interest from up to four other groups who have demonstrated their ability to inject significant funds. The Norwegian suitors Oystein Stray Spetalen and Petter Stordalen outlined an improved offer for a stake in the club last week.

But the chairman and majority shareholder David Moores would be attracted to Herd's proposals as they would not involve him diluting his 51% interest. That would allow Moores and the board to remain in their positions with new money injected to fund team strengthening and a new stadium on Stanley Park. Although Herd's background is in motor sport, it is understood no formula one figures are involved.

[saurabh]

It all depends on which report you believe...saurabh's post indicates a takeover, but many reports I've read state that it is purely an investment (or cash injection) with chairman David Moores retaining his 51% majority interest...

The following article from The Guardian:

Liverpool meet today over cash injection

Monday May 15, 2006
The Guardian

Liverpool's chief executive Rick Parry will today meet Robin Herd, the former chairman of Oxford United, to discuss an investment proposal which would see significant funds pumped into the club and the current hierarchy at Anfield unchanged.

Herd, 67, is not planning to invest his own money but is acting as a conduit for a European financial institution. That group has yet to outline the details of their bid but will finalise their proposal today and hope to have the plans put forward at the club's board meeting on Thursday.

Until they see the proposals, Liverpool are wary of whether Herd's party have enough funds to prompt further talks. Parry, a close friend of Herd, is aware of interest from up to four other groups who have demonstrated their ability to inject significant funds. The Norwegian suitors Oystein Stray Spetalen and Petter Stordalen outlined an improved offer for a stake in the club last week.

But the chairman and majority shareholder David Moores would be attracted to Herd's proposals as they would not involve him diluting his 51% interest. That would allow Moores and the board to remain in their positions with new money injected to fund team strengthening and a new stadium on Stanley Park. Although Herd's background is in motor sport, it is understood no formula one figures are involved.

You are right. It is difficult to say what exactly in offing, but certainly the investors will want something in return for their investment, and that has to be shares in the club. They are surely not offering a loan as we can get that from Barclays Bank.
The meeting has been scheduled for Thursday, and only then we will know if at all the board wants to do it or and if they want to do it, what are the details.
Right now only thing that is certain is Herd has made a serious bid and Liverpool are discussing the same.

[matt12345]

onl 189 pds? thats chump change.. i thought eng. football was rich
i think its cash in as well. take a look at what it took for the glazers to take over manchester united, certainly not chump change.