Hicks Backs Rafa as 'Kop' Completes Financing Package (.tv)

[Guest macca777]

Kop Football (Holdings) Limited ("Kop"), the owner of Liverpool Football Club (the "Club"), is pleased to announce the successful completion of a £350 million financing package.

In addition it is pleased to announce confirmation of the selection of the architectural firm HKS, Inc. as designer of the Club's new stadium at Stanley Park.

 

The Financing Package

 

Kop has secured a £350 million financing package, led by The Royal Bank of Scotland and Wachovia Bank NA, which replaces previous financing that had been due in February 2008. The new financing will meet all of the Club's current financial needs and includes facilities to support the commencement of construction for the new stadium at Stanley Park and to provide working capital for the Club and future player transfers. Of the £350 million financing, £105 million is Club-level debt that will be used to fund commencement of construction of the new stadium at Stanley Park, for future player transfers, and to meet the Club's working capital needs.

 

The other £245 million will be at the holding company level and was used to refinance the £60 million of debt that was on the Club's books at the time of last year's acquisition as well as the loan related to the share purchase at that time. The overall financing is being supported by a combination of owner cash, letters of credit and personal guarantees totaling £225 million, ensuring that the Club remains on a sound financial footing.

 

Tom Hicks said: "This new financing package is a strong vote of confidence in the Club's financial strength and a recognition of the exceptional opportunity represented by the construction of the Club's new state-of-the-art stadium at Stanley Park. The successful completion of this financing package is particularly significant in light of the currently challenging credit-market environment. With the refinancing process now done, Club supporters can look forward to the timely commencement of construction work on the new stadium and renew their focus on actions on the pitch."

 

The New Stadium:

 

Confirmation of the selection of HKS was based on the firm's successful development of an improved stadium design that meets the objective of a cost-effective, supporter-friendly design. The new stadium, scheduled to open in August 2011, will ensure that Liverpool Football Club and its supporters get the much-anticipated groundbreaking iconic design at a capacity of approximately 71,000 seats, significantly more than is currently available at Anfield.

 

The new stadium will feature enhanced amenities for the Club's supporters while preserving the history and traditions of Anfield and the Club itself. It will be anchored by an expanded 18,500-seat standalone KOP, an increase of more than 5,000 seats.

 

Kop also announces the appointment of KUD International as project manager for the stadium. KUD, which will establish a Liverpool office to oversee the project, has developed projects globally, including Silvertown Quays, a large-scale mixed use scheme in London, as well as collegiate and professional stadiums in the United States including the Philadelphia Eagles' Lincoln Financial Field and the San Francisco Giants' AT&T Park.

 

Laing O'Rourke, the largest privately owned construction firm in the UK, has also joined, and provides further depth of experience to, the project team. Laing O'Rourke is currently working with developer Grosvenor on The Paradise Project in Liverpool – Europe's largest city-centre regeneration scheme.

 

Tom Hicks said: "HKS has developed a more efficient design that, at the same time, is just as stunning as its original design. Liverpool supporters should have high expectations for the future: a premier sporting experience at their new stadium at Stanley Park and a winning Club on the pitch for years to come."

 

Football Operations:

 

In response to questions recently raised about owner support of Rafa Benitez as Manager, Tom Hicks today commented: "Since the meeting with Rafa on December 16th, at which some widely reported communications issues were discussed, Rafa has been assured that he has continuing and enthusiastic support as the Club's Manager.

 

"Reflecting that support, Kop recently approved his transfer payment request to sign Martin Skrtel for £6.5 million and is in discussions with Rafa and Club management regarding additional player signings this summer.

 

"Rafa is under contract for two more seasons following this season. I am solidly behind Rafa and am confident of the team's competitive prospects under his continuing leadership."

So its official and Hicks has publicly backed Rafa.mmmm???Will Rafa stay under this c**** stewardship though?

[RP]

And the next Press Release from these guys will be to announce the sale of the Club to DIC.

 

Probably.

[johngibo YPC]

"Club supporters can look forward to the timely commencement of construction work on the new stadium and renew their focus on actions on the pitch."

 

Nice try mate

[honourablegeorge]

Nice one Tom. Now go f*** yourself.

[Boca]

And the next Press Release from these guys will be to announce the sale of the Club to DIC.

 

Probably.

 

 

It's only Hicks doing all the mouthing. Hopefully that means there is something going on behind the scenes.

[smicer07]

Excellent.

[RP]

It's only Hicks doing all the mouthing. Hopefully that means there is something going on behind the scenes.

 

 

I would say that much is nailed on.

 

Bye bye Hicks, I'd like to say it's been a pleasure.

[johngibo YPC]

"Reflecting that support, Kop recently approved his transfer payment request to sign Martin Skrtel for £6.5 million and is in discussions with Rafa and Club management regarding additional player signings this summer."

 

Not signing Masch in January then

[Boca]

I would say that much is nailed on.

 

Bye bye Hicks, I'd like to say it's been a pleasure.

 

I hope to f*** you're right.

[RP]

I hope to f*** you're right.

 

 

I probably am.

[Boca]

I probably am.

 

 

Well you always think you are, but hopefully on this occasion you actually are

[matty]

"Club supporters can look forward to the timely commencement of construction work on the new stadium and renew their focus on actions on the pitch."

 

Hicks admitting all this sh*te has been a distraction? About time.

 

Now do one, you rubbish fat penis.

[RP]

Well you always think you are, but hopefully on this occasion you actually are

 

 

 

Can't argue with that.

[JimmyF]

Cowtownred on rawk just posted this:

 

Well, I'm almost scared to say anything.

 

But despite some unwarranted stick, anyone who bothers to look will see that what I've posted has been quite correct. As indeed have Raul and a few others.

 

I continue to say the following...

 

Nothing has changed. This deal was always going through, and there was always going to be an accompanying fanfare. What I didn't expect was the suicidal/infighting ideations this would arouse.

 

If those who are interested look harder at the (scant) details, it is FAR more telling by what has NOT happened.

 

Look at what has been said by Hicks (not his PR people... by himself). Gillet. Moores/Parry. Rafa. And most importantly of all, DIC. I won't do your research. YOU have a look at what has been written or said today, then come back and respond to my question. WHAT HAVE ANY OF THE PRINCIPLE PLAYERS ACTUALLY SAID TO MAKE YOU ALL SO f***ED OFF?

 

I know a hell of a lot more today than I did yesterday, from people at the heart of what is being thrashed out. I'm not f***ing saying another word... though one or two know. And I'm not self-flagellating.

 

There could be very different attitudes on here, sooner than anyone thinks.

[Eskimo]

The other £245 million will be at the holding company level and was used to refinance the £60 million of debt that was on the Club's books at the time of last year's acquisition as well as the loan related to the share purchase at that time. The overall financing is being supported by a combination of owner cash, letters of credit and personal guarantees totaling £225 million, ensuring that the Club remains on a sound financial footing.

 

What £60 million debt?

[SkippyjonJones]

Well you always think you are, but hopefully on this occasion you actually are

Scary thought isn’t it..

[Stevie H]

"Reflecting that support, Kop recently approved his transfer payment request to sign Martin Skrtel for £6.5 million and is in discussions with Rafa and Club management regarding additional player signings this summer."

 

Not signing Masch in January then

and it's not like the skrtel money was dragged from anywhere since it's less than we'd intended spending on heinze last summer.

[Cobs]

and it's not like the skrtel money was dragged from anywhere since it's less than we'd intended spending on heinze last summer.

but it's money that Rafa was told he couldn't spend last November though, wasn't it?

[beejay]

Cowtownred on rawk just posted this:

 

If those who are interested look harder at the (scant) details, it is FAR more telling by what has NOT happened.

 

Look at what has been said by Hicks (not his PR people... by himself). Gillet. Moores/Parry. Rafa. And most importantly of all, DIC. I won't do your research. YOU have a look at what has been written or said today, then come back and respond to my question. WHAT HAVE ANY OF THE PRINCIPLE PLAYERS ACTUALLY SAID TO MAKE YOU ALL SO f***ED OFF?

 

I know a hell of a lot more today than I did yesterday, from people at the heart of what is being thrashed out. I'm not f***ing saying another word... though one or two know. And I'm not self-flagellating.

 

There could be very different attitudes on here, sooner than anyone thinks.

 

Well,

 

No mention whatsoever of his partner Gillett = he is no longer involved in Kop Holdings?

 

No mention of any rejection of DIC = DIC are in negotiations or have bought out G?

 

Quotes on Rafa = Rafa's safe?

 

No mention of Parry or Moores = dunno

 

So what about Hicks then?

[benno2]

Is it possible that Gillett has agreed a sale to DIC, but Hicks, stubborn bugger that he is, is holding out for more and they're still negotiating? It certainly seems that Hicks has a much greater appetite for the fray than Gillett, who maybe knows that his bridges are burned here, whereas Hicks doesn't care and is just holding out for a better deal.

[Des]

Is it possible that Gillett has agreed a sale to DIC, but Hicks, stubborn bugger that he is, is holding out for more and they're still negotiating? It certainly seems that Hicks has a much greater appetite for the fray than Gillett, who maybe knows that his bridges are burned here, whereas Hicks doesn't care and is just holding out for a better deal.

 

Think this may be very close to the truth.

[Hus]

Is it possible that Gillett has agreed a sale to DIC, but Hicks, stubborn bugger that he is, is holding out for more and they're still negotiating? It certainly seems that Hicks has a much greater appetite for the fray than Gillett, who maybe knows that his bridges are burned here, whereas Hicks doesn't care and is just holding out for a better deal.

 

Definitely plausible IMO.

[CaptainXabi]

Think this may be very close to the truth.

I agree.

[Guest JV]

I'm going to miss hicks

[beejay]

Is it possible that Gillett has agreed a sale to DIC, but Hicks, stubborn bugger that he is, is holding out for more and they're still negotiating? It certainly seems that Hicks has a much greater appetite for the fray than Gillett, who maybe knows that his bridges are burned here, whereas Hicks doesn't care and is just holding out for a better deal.

 

But surely the refinancing wouldn't have been completed if Gillett had just agreed a sale to DIC? It's either DIC have bought his share and put up the required security OR Hicks has bought out Gillett and gone ahead with the deal himself