Royal bank of scouse

[hamptonmanger]

thought some of you Liverpool fans might like to read this, sorry if it has already been posted i couldn't find it, also it is from the news of the world so don't know how true it is

The Premier League will approve an Anfield takeover by the Royal Bank of Scotland if co-owners Tom Hicks and George Gillet don't find a buyer or repay their debt by October 6.

If the bank takes over, the owners' existing debts will be wiped out but they would lose the club without receiving a penny.

An RBS takeover will enable the bank to deal directly with buyers from next month and sell the club for a reasonable price.

full story
http://www.newsoftheworld.co.uk/sport/football/942020/ROYAL-BANK-OF-SCOUSE.html

 

[Alex]

That makes me feel a bit better.

 

[Eds]

Slightly confused. Surely that's a good thing for us?

 

[Nick.]

lol, i thought this was a story for a moment XD

 

[hamptonmanger]

Slightly confused. Surely that's a good thing for us?

by the looks of it, it is great as the bank will wipe out your debt and the owner won't receive a penny for the club

 

[Niall]

So the bank will recoup the debts owed to themselves through the sale of the club, but what will happen to Hicks' and Gillett's inter-company loans?

Sorry if I've missed something obvious.

 

[hamptonmanger]

So the bank will recoup the debts owed to themselves through the sale of the club, but what will happen to Hicks' and Gillett's inter-company loans?

Sorry if I've missed something obvious.

i have no idea im guessing they will lose out if they have put a loan from their company into Liverpool i believe it won't be paid and written of as bad debt

 

[Ride The Walrus]

Slightly confused. Surely that's a good thing for us?

As far as I've read it's a very good thing, the owners get out, get no money, we're ran for a bit by a good honest bank, and we don't get a 9 point deduc^^)

 

[Gaffer]

scotland to the rescue

 

[Mike.]

anyone seen this on another source? sceptical about this becuase a) its from the news of the world, not exactly known for telling the truth, and b) the paper is pro purslow so it might be spinning it in his favour

 

[Scott]

It is all circumstancial, as it would mean the bank wanting to buy the club, the bank being willing to wipe out the clubs debts and the bank puttng an reasonable price on the club.

 

[Steve*]

I have to say it makes logical sence, If the repayments arent met by October 6th the bank has every right to seize the assets of the club and H&G will have no choice to relinquish control of the club.RBS will simply then offload the club to the highest bidder once the 237 million debt is covered. It will be great to see Hicks and Gillett leave with nothing.
@themadsheep2001, We all know the NOTW isnt the most reliable source but once H&G cant sell the club RBS will move in and force them to relinquish control of the club.

 

[Tezzz]

If this is true, then yes it's good. Although I think they're just pressuring them to find a new owner. It will be interesting to see how thins change come October 6th.

 

[Mike.]

I have to say it makes logical sence, If the repayments arent met by October 6th the bank has every right to seize the assets of the club and H&G will have no choice to relinquish control of the club.RBS will simply then offload the club to the highest bidder once the 237 million debt is covered. It will be great to see Hicks and Gillett leave with nothing.
@themadsheep2001, We all know the NOTW isnt the most reliable source but once H&G cant sell the club RBS will move in and force them to relinquish control of the club.

not debating that, im debating whether they would be willing to wipe the debts etc, as Scott says its circumstancial, and im scepitcal until i hear from more reputable sources.

 

[Billy]

scotland to the rescue

Actually, RBS is a part of the Royal Bank of Scotland Group, which in turn is controlled by Her Majesty's Treasury, which is traced back to English origins.

Source: interwebz

 

[Gaffer]

Actually, RBS is a part of the Royal Bank of Scotland Group, which in turn is controlled by Her Majesty's Treasury, which is traced back to English origins.

Source: interwebz

its got scotland in the name, not many people will know what you just said, so it'll look like we're saving the day :$

 

[coop21]

Hahaha 6th Oct is my Birthday wat a present the yanks out of liverpool lol

 

[Dobcheev]

its got scotland in the name, not many people will know what you just said, so it'll look like we're saving the day :$

From now on, the bagpipes will be my favourite musical instrument after the Gibson T-Bird bass.
I'd like the yanks ( paticularly Hicks ) to be declared bankrupt as well. Wouldn't that be both sweet & just ? (H)

 

[Zebedee]

not debating that, im debating whether they would be willing to wipe the debts etc, as Scott says its circumstancial, and im scepitcal until i hear from more reputable sources.

It's been an option for a while. The problem is that Hicks and Gillett could conceivably push this into court and so force administration. Administration would be disasterous in that case because the club could be forced into a January fire-sale.

 

[Mike.]

It's been an option for a while. The problem is that Hicks and Gillett could conceivably push this into court and so force administration. Administration would be disasterous in that case because the club could be forced into a January fire-sale.

thats a bit grim, how could they force this to court, on what grounds?