Red Sox owners pledge to remove Liverpool's debt

[bigdelta 46]

LONDON -- Whatever you do, Liverpool fans, don't call your prospective new American owners the Yankees.

 

The owners of the Boston Red Sox are trying to buy the financially ailing Liverpool football club for 300 million pounds ($477 million) - about half the asking price of the current American owners.

 

If approved, it would unite two of the most storied franchises in sports - the soccer Reds, one of the most decorated teams in old England, and the baseball Red Sox, the oldest pro team in New England.

 

They have a lot in common.

 

Both have red uniforms - in fact, Liverpool players also wear red socks - and both have a proud heritage that includes championships and long periods of agonizing failure.

 

Each has its iconic symbols: from Fenway Park to Anfield; from the Green Monster to the Shankly Gates; from "Sweet Caroline" to "You Never Walk Alone"; from the Citgo sign to the "This Is Anfield" sign.

 

The Red Sox also had the Curse of the Bambino - the sale of slugger Babe Ruth to the New York Yankees - that was finally snapped when they won the World Series in 2004 after a wait of 86 years. They won the title again in 2007.

 

Liverpool fans hope John Henry's New England Sports Ventures can spark a similar revival of their debt-riddled club, which has fallen on hard times since winning its 18th and last English league crown in 1990. Liverpool is off to its worst start since 1953 and is in the relegation zone after losing last week to Blackpool.

 

As major port cities, Boston and Liverpool also share a rich history and strong Irish links. After the famine in Ireland in the mid-19th century, many Irish headed for the thriving port of Liverpool, and from there sailed to Boston. By 1851, it was estimated that a quarter of the populations of both cities was Irish.

 

For all that, though, the Red Sox owners might not be so fab in the home of the Beatles. Liverpool fans were already angry that the team was owned by two other Americans, Tom Hicks and George Gillett Jr., and now comes another U.S. group intending to take control.

 

"These Yanks are making us look like a laughingstock in the Premier League and in Europe," said Paul Tremarco, a season-ticket holder for 35 years. "We don't trust the Yanks anymore. They just asset-strip companies."

 

Liverpool chairman Martin Broughton said he understood the "instant reaction about them being American. But being American is not a problem. Leveraged ownership of a football club is the problem."

 

Serious financial issues have to be settled to conclude the long and bitter boardroom battle over the club.

 

The Boston ownership group is headed by Henry, a financial trader, with two other principals: Tom Werner, who made his money producing hit TV shows such as "The Cosby Show" and "Roseanne," and Larry Lucchino, a longtime baseball executive.

 

The New York Times Co., parent of the newspaper, is among the investors in the Red Sox ownership group. The Times said last year it was trying to sell its shares. In April, the Times announced it had sold a small portion of its NESV ownership stake.

 

The Red Sox owners' offer is only likely to cover the debts and bank charges stemming from the leveraged 2007 takeover by Hicks and Gillett. They are fighting the NESV bid, saying it "dramatically undervalues" the club. Hicks wants to sell for about 600 million pounds ($954 million).

 

Rival members of the Liverpool board, which accepted the Boston bid, are set to go to court to force the sale through before the Oct. 15 deadline set by the banks to repay the club's debt.

 

Liverpool is one of four Premier League clubs under American ownership, along with Manchester United, Aston Villa and Sunderland. Most prominent are Malcolm Glazer and his sons, owners of the Tampa Bay Buccaneers, who took over Manchester United in 2005 in a leveraged buyout worth $1.4 billion. The Glazers are deeply unpopular among United fans, with groups of supporters regularly protesting and calling for their ouster.

 

Major League Soccer Commissioner Don Garber said the Red Sox owners know how to take a franchise forward.

 

"There is something called the Red Sox Nation, a brand supported by fans going back generations, similar to Liverpool supporters," he said. "The ownership has not only graced that but enhanced it."

 

Liverpool fans will need to be convinced.

 

"It'll still be important that these people come out and engage with supporters and tell us what their intentions are," said James McKenna, spokesman for the Spirit of Shankly, a fan group named after Liverpool manager Bill Shankly, who won three league titles, two FA Cups and the UEFA Cup from 1959-1974.

 

 

 

Read more: http://www.miamiherald.com/2010/10/06/1859...l#ixzz11e4kQVYT

[nidnoyham 30]

I hope they have a translator on hand to talk to the fans !

[MC_Ldop 40]

If approved, it would unite two of the most storied franchises in sports - the soccer Reds, one of the most decorated teams in old England, and the baseball Red Sox, the oldest pro team in New England.

 

They have a lot in common.

 

Yes, they're both full of asshats. It's nice to have another reason to dislike Gerrard though.

[wacmedia 277]

Hi,

 

I know lots of posters on here think all Americans are venal, corrupt shysters. However, I think this guy has done a good job in Boston so he can do the same in what is another Irish town.

[joekicker 53]

Heh. My favourite part, from another version of this story, quoting the Liverpool people:

 

"The board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner. NESV's philosophy is all about winning and they have fully demonstrated that at the Red Sox."

 

It's all about winning. Yes, of course. Anyone notice what the Red Sox are doing RIGHT NOW while better teams are still playing baseball?

 

Don't josh me, Liverpudlians. It's all about THE MONEY!

 

.

[wacmedia 277]

It's all about winning. Yes, of course. Anyone notice what the Red Sox are doing RIGHT NOW while better teams are still playing baseball?

 

Don't josh me, Liverpudlians. It's all about THE MONEY!

 

.

 

Hi,

 

With Americans its always about the money! These guys have a good track record overall though.

[midlifecrisis 4,030]

Heh. My favourite part, from another version of this story, quoting the Liverpool people:

 

"The board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner. NESV's philosophy is all about winning and they have fully demonstrated that at the Red Sox."

 

It's all about winning. Yes, of course. Anyone notice what the Red Sox are doing RIGHT NOW while better teams are still playing baseball?

 

Don't josh me, Liverpudlians. It's all about THE MONEY!

 

.

Joe, the Red Sox were decimated by injury after injury this season. That is not an indication of the health (no pun intended) of their franchise.

 

They had only two players play over 150 games:

 

http://boston.redsox.mlb.com/stats/sortabl...ts.jsp?c_id=bos

 

They won World Series in 2004 and 2007 and made the ALCS last season.

 

It is about money too but there are teams with money who are not successful here. Big market teams like the Mets and Cubs come to mind and the Dodgers made the playoffs last year and the year before and stunk it up this year (they were favored to win the division). Their last WS title was 1988 if memory serves.

 

The Red Sox have done a great job righting a ship that was broken for many many years, winning championships and making money. Liverpool could do much worse for a partner.

Edited October 9, 2010 by midlifecrisis

[joekicker 53]

It is about money too but there are teams with money who are not successful here.

 

That was actually my point - the Liverpudlians claiming it was all about winning. I was born Thursday but not last Thursday. A losing team that makes a grazillion pounds will suit the Liverpool board. What are the Liverpool fans going to do, go across the river and cheer for Everton?

 

And I don't MIND that a losing team that makes money is better for the board than a winning team that loses money. And I don't doubt they'd like to have a winning team that makes money. But it's not all about winning, any more than the Red Sox are all about winning. It's all about the money. That's the JOB of the board. Winning is only part of making money, and very often a tiny part as you so willingly offer up about the Mets and others.

 

.

[brotherbuzz 3,196]

With Americans its always about the money!

It's also about power and prestige, but, stop putting money in your owners and players pockets and then tell me how much you enjoyed the pick-up matches at the public park.

[midlifecrisis 4,030]

With Americans its always about the money!

Kind of like Manchester United? Real Madrid.........

[CheshireTom 1,377]

Kind of like Manchester United? Real Madrid.........

 

Err, exactly like Man U.

 

Have they bought Real Madrid as well?

[wacmedia 277]

It's also about power and prestige, but, stop putting money in your owners and players pockets and then tell me how much you enjoyed the pick-up matches at the public park.

 

Hi,

 

I think the best players are worth the money but the rest...?

 

And I don't MIND that a losing team that makes money is better for the board than a winning team that loses money.

.

 

Hi,

 

You should become a gooner.

[bigdelta 46]

How the fcuk can a Board of Directors force the sale of a club?Though I don't care for those owners,I'd be in court too.

Imagine pulling that crap in the US if you were the franchise owner.The owner decides when to sell his club,nor the B o D.

[brotherbuzz 3,196]

Hi,

 

I think the best players are worth the money but the rest...?

Rhetorically speaking, define "best". What I'm getting at is there are only a few who are the best at what they do, but they need the rest to be able to do it.

[wacmedia 277]

How the fcuk can a Board of Directors force the sale of a club?Though I don't care for those owners,I'd be in court too.

Imagine pulling that crap in the US if you were the franchise owner.The owner decides when to sell his club,nor the B o D.

 

Hi,

 

They have failed to refinance the club. At that stage are they still the owners ?

[bigdelta 46]

Hi,

 

They have failed to refinance the club. At that stage are they still the owners ?

I thught that at 1 pm local time that a decision was to be made regarding just that issue.

[CheshireTom 1,377]

Hi,

 

They have failed to refinance the club. At that stage are they still the owners ?

 

They're still the owners - the problem being that they owe RBS a shitload of cash that they don't have. As part of their agreement with RBS to extend the timeframe for repayment of that loan until this coming Friday, the company had to make efforts to find a buyer for Kop Holdings. It's the owners' attempts to try and renege on that agreement with RBS that was being decided at the High Court. Their argument that the club is worth more is pretty irrelevant if nobody was willing to match their valuation. I'm not sure the Red Sox guy is the right answer to capitalise of the club's global brand - the Singaporean guy, Lim, probably has a much better feel for the global potential of the club (he's the same guy that's behind the Man U bar/restaurant on Suk Soi 11 in BKK).

[joekicker 53]

I just found out that Lim is making serious offers, I didn't realise that until a couple of days ago. I think he'd be sensationally excellent for the problems Liverpool faces compared with the Boston crowd.

 

.

[bigdelta 46]

Marketing a club is one thing-running one successfully is another,which the "Boston crowd" has experience in.And yes,I get the "marketing" slant..........

Edited October 14, 2010 by LTGTR

[wacmedia 277]

Marketing a club is one thing-running one successfully is another,which the "Boston crowd" has experience in.And yes,I get the "marketing" slant..........

 

Hi,

 

Agreed. We are not running a hamburger stall here. Lim also may be a plant to upset the deal, and like many Chinese who have tried to enter the Premiership may not be as rich as he appears. The same could be said for some Americans and Arabs who have tried of course.

[joekicker 53]

Agreed. We are not running a hamburger stall here. Lim also may be a plant to upset the deal, and like many Chinese who have tried to enter the Premiership may not be as rich as he appears. The same could be said for some Americans and Arabs who have tried of course.

 

Jee Zeus! Lim is as "Chinese" as you are. You've heard of Singapore, I presume?

 

There is a very, very quick way to find out if they are rich enough. If you don't use that method, shame on you!

 

.

Edited October 14, 2010 by joekicker

[bigdelta 46]

Peter Lim (Chinaman) withdraws bid for Liverpool.

[joekicker 53]

Peter Lim (Chinaman) withdraws bid for Liverpool.

 

Actually, he's Singaporean. Yes, interesting that Liverpool simply ignored his cash-on-the-barrelhead offer.

 

.

[bigdelta 46]

Actually, he's Singaporean. Yes, interesting that Liverpool simply ignored his cash-on-the-barrelhead offer.

 

.

Same,same.LOL!

Edited October 15, 2010 by LTGTR

[joekicker 53]

Same,same.LOL!

 

Then I shall refer to you from now on as an African since that is where your ancestors came from.

 

LOL

 

.