December 14, 2019, 05:27:35 PM

Author Topic: Saudi prince set to invest  (Read 13877 times)

Offline Kopite999

  • Established
  • ****
  • Posts: 788
    • View Profile
Saudi prince set to invest
« on: September 27, 2009, 01:48:33 PM »
http://www.skysports.com/story/0,19528,11095_5586583,00.html

Saudi prince set to invest-Reports suggest Reds owners set to sell 50 per cent stake

A Saudi prince has revealed that he is set to make a significant investment in an English club.

Reports suggest that the side in question is Premier League giants Liverpool, who are currently experiencing financial difficulties under the ownership of Tom Hicks and George Gillett.

It is believed that the American duo are prepared to sell a 50 per cent stake to Prince Faisal bin Fahd bin Abdullah in order to help balance the books at Anfield.

"We are currently seeking to buy 50 per cent of the shares in the club which is now suffering with debts worth £245million," Fahd bin Abdullah, who chairs private firm F6 and a Saudi-based holding firm called Fama Group, was quoted as saying in Al-Riyadh.

"The transaction, upon which a decision is close to be reached, will be worth 200 to 350million pounds."

A spokesman for Fama has declined to comment on the matter, but it appears that the Premier League could be set to welcome further money from the Middle East.

Manchester City were acquired by the Abu Dhabi United Group last summer and have benefitted considerably from that deal.


Offline Kopite999

  • Established
  • ****
  • Posts: 788
    • View Profile
Re: Saudi prince set to invest
« Reply #1 on: September 27, 2009, 01:53:45 PM »
As much as the investment is very welcome and needed, we've had problems between two owners. what can we expect when theres three big ego's owning the club?

Offline the dude abides

  • Veteran
  • *****
  • Posts: 8113
  • that rug really tied the room together
    • View Profile
Re: Saudi prince set to invest
« Reply #2 on: September 27, 2009, 05:08:12 PM »
Saudi Prince Wants 50 Pct Of Liverpool FC
New York Times
September 27, 2009

A Saudi prince is set to spend up to 350 million pounds to buy a 50 percent stake in English soccer club Liverpool, al-Riyadh newspaper quoted him as saying Sunday.

"We are currently seeking to buy 50 percent of the shares in the club which is now suffering of debts worth 245 million pounds," Prince Faisal bin Fahd bin Abdullah, who chairs a privately owned group called F6 and a Saudi-based holding company called Fama Group, was quoted as saying.

"The transaction, upon which a decision is close to be reached, will be worth 200 (million) to 350 million pounds," he said, according to the newspaper.

No-one at Liverpool, which beat Hull 6-1 Saturday to move to third position in the English Premier League, could immediately be reached for comment.

A Fama spokesman declined to comment on the report, saying: "What I know is that the prince attended the Liverpool game against Hull and signed yesterday an agreement with Liverpool to build a sport academy in Saudi Arabia."

Liverpool is co-owned by Americans Tom Hicks and George Gillett. The two have had a stormy relationship since purchasing the club for 218.9 million pounds in 2007 and neither wants to sell his stake to the other.

F6 said in a statement Sunday it had signed a memorandum of understanding with the George Gillett Group which paves the way for an exclusive cooperation with Liverpool that would lead to the opening of academies affiliated to the English club.

The F6 statement did not refer to any planned acquisition of a stake in Liverpool.

GROWING INTEREST

Prince Faisal's statement renews a battle among Gulf Arab investors for England's most successful club with 18 English league titles and five European Cup triumphs.

Investors from Gulf Arab countries have shown growing interest in acquiring soccer clubs mainly from the English Premier League.

Last month, United Arab Emirates' investor Sulaiman al-Fahim completed a takeover of Portsmouth football club, while Abu Dhabi United Group for Development and Investment (ADUG) bought Manchester City last year.

Hicks and Gillett were in talks in January to sell the club for 500 million pounds including debt to investors from the region, including Kuwait, but talks broke down over price, one of those involved said.

Before that, UAE-based Dubai International Capital vied in 2007 for a stake in Liverpool.

In August, Prince Faisal told the website of local soccer team Al-Hilal that F6 was leading talks for a group of unnamed investors to buy into two European soccer clubs, one of which was from Great Britain.

Last year, Forbes Magazine estimated Liverpool to be worth $1 billion, excluding debt, placing it as the fourth-most valuable football team in the world after Manchester United, Real Madrid and Arsenal.
In the midst of winter, I finally learned that there was, in me, an invincible summer.

There’s no next time. It’s now or never.

Offline Kopite999

  • Established
  • ****
  • Posts: 788
    • View Profile
Re: Saudi prince set to invest
« Reply #3 on: September 27, 2009, 06:13:27 PM »
Jim do you know any insider info on this story?  It would be great to hear your views on it

Offline Juan

  • Veteran
  • *****
  • Posts: 2366
    • View Profile
Re: Saudi prince set to invest
« Reply #4 on: September 28, 2009, 01:43:32 AM »
According to this a deal is being negotiated in london at the moment. I cant see Hicks allowing Gillett to sell 50%, he will surely veto.

We always seems to be the club most linked with takeovers only for nothing to materialise. Deals like the one for Man City and Chelsea etc were all done and dusted without any fuss or hassle but any potential deal for Liverpool always seems to be talked to death until it finally goes away. I suppose thats what happens when you have a willing buyer but not exactly a willing set of sellers.

http://online.wsj.com/article/SB125408542465844491.html#mod=todays_europe_marketplace

The Wall Street Journal

BUSINESS
SEPTEMBER 28, 2009

Liverpool Team Has Saudi Suitor

By MOHAMMED ALY SERGIE and NOUR MALAS

RIYADH, Saudi Arabia -- Liverpool Football Club over the weekend became the latest English Premier League team to be targeted by Arab investors.

Saudi Prince Faisal Bin Fahad Al Saud is in talks to buy a 50% stake in the team from its U.S. owners, George Gillet Jr. and Tom Hicks, for as much as £350 million, or about $560 million.

The prince, who chairs the FAMA Holding Co. investment firm, is "currently negotiating the deal in London," a spokesman told Zawya Dow Jones late Sunday.

The acquisition will be made by F6 Group, a sports investment company run by the prince. The company signed a deal Saturday with Mr. Gillet and Richard Petty Motorsports to form a venture that could bring a football academy and Nascar motor races to Saudi Arabia and other countries in the Middle East.

Liverpool, one of the most successful franchises in English and European soccer, could be a trophy asset for the prince.

Zawya Dow Jones wasn't immediately able to contact representatives for the team.

The prince, born in 1970, is the son of the commander of Saudi Arabia's Royal Navy and is married to King Abdullah's granddaughter. He studied political science at King Saud University and Emerson College in Boston, but ran FAMA as a student and has had an eye to improve sports in the kingdom, the spokesman said.

"If the deal with Liverpool goes through, it would certainly be Prince Faisal's largest foreign investment," he added.

In 2004, the prince formed F6 Group to bring Formula One Powerboat races to Saudi Arabia. The races were held at Sunset Beach in Al Khobar, FAMA's $160 million luxury residential development in eastern Saudi Arabia.

Oil-rich Middle East investors are snapping up teams in the top-tier English football league, the most lucrative in Europe, as many owners are struggling for funding amid the global financial crisis.

Recent deals have included the £210 million purchase in September 2008 of most of the Manchester City Football Club by Abu Dhabi royal Sheik Mansour bin Zayed Al Nahyan. The injection of Arab cash helped the club pay £120 million to bolster the squad with new players over the summer.

Abu Dhabi billionaire Suleiman Fahim, who initially brokered the takeover of Manchester City, bought the Portsmouth Football Club last month. Mr. Fahim said in July the deal would cost him about £80 million.

According to business consultants Deloitte, the English Premier League is one of the world's most lucrative. In 2007 and 2008, the league brought in record revenue of €2.4 billion ($3.5 billion), according to Deloitte. The league posted combined profit in that period of €234 million.
—Andrew Critchlow in Dubai contributed to this article.

Offline Tes

  • Too old to be a
  • Veteran
  • *****
  • Posts: 10196
  • I hate defending
    • View Profile
Re: Saudi prince set to invest
« Reply #5 on: September 28, 2009, 02:04:28 AM »
Saudi interest comes as a surprise to Liverpool

Tony Barrett   September 28, 2009

Neither George Gillett Jr nor Tom Hicks, the co-owners of Liverpool, is expecting imminent investment in the club from Prince Faisal bin Fahd bin Abdullah al-Saud, a member of the Saudi Royal Family, despite reports to the contrary over the weekend. Hicks and Gillett are in ongoing talks with a number of potential third-party investors as they seek first to reduce Liverpool’s £250 million debt and second to bring in the kind of sizeable cash injection needed to finance the club’s move from Anfield to a long-planned new stadium on nearby Stanley Park.

Prince Faisal, who visited the club’s academy in Kirkby on Saturday before attending Liverpool’s home match against Hull City, is the latest potential investor to express an interest in taking a stake in the club and his public admission to this effect has come as a surprise to Hicks in particular, but also to Gillett.

According to a report in Saudi Al-Riyadh, the newspaper, Prince Faisal, who chairs Fama Group, the Saudi holding company, and the F6 Sports Investment Firm, is willing to take a stake in Liverpool of up to 50 per cent for a fee in the region of £200-350 million.

The high-profile nature of his reported interest, which began on Friday night with a news item on television in Saudi Arabia, has taken the Liverpool hierarchy aback, particularly Gillett who invited Prince Faisal to Merseyside as his guest to open negotiations about proposed Nascar and Liverpool academy initiatives in the Middle East. Gillett is holding talks with a number of interested parties at present and, as yet, there is still to be an official approach from Prince Faisal or any other members of the Saudi Royal Family.

In the past two years, Hicks and Gillett have entertained a number of potential investors at Anfield, but a deal is yet to materialise and The Times understands that Gillett held talks with another interested party in London last night.

Gillett’s visit to Merseyside was not without controversy as members of the Spirit Of Shankly (SOS) fans group, which has long been opposed to his and Hicks’s regime, protested against the American ownership of Liverpool at the club’s Melwood training ground.

An attempt to stage a similar protest at Anfield during the Hull game was stifled when flags and banners criticising Hicks and Gillett were seized by Merseyside Police shortly after they were unfurled in the Kop stand.


http://www.timesonline.co.uk/tol/sport/football/premier_league/liverpool/article6851704.ece

« Last Edit: September 28, 2009, 02:06:23 AM by Tes »
Don't make the same mistake twice, there's plenty of new ones to choose from.

Those who choose to preach would do well to take note of their own sermons.

Jofrad

  • Guest
Re: Saudi prince set to invest
« Reply #6 on: September 28, 2009, 10:43:17 AM »
There is no chance of Tom Hicks agreeing to any form of investment in Liverpool unless he retains at least his current 50% shareholding in the club, everything else is pure speculation. He is in it for one thing only and that thing is Tom Hicks.

Offline Kopite999

  • Established
  • ****
  • Posts: 788
    • View Profile
Re: Saudi prince set to invest
« Reply #7 on: September 28, 2009, 12:07:09 PM »
Reds could land Saudi funds-Investment company confirm Gillett talks

http://www.skysports.com/story/0,19528,11661_5589102,00.html

Liverpool could secure significant new investment with a private Saudi sports investment company in talks with co-owner George Gillett.

F6, who are chaired by Saudi prince Faisal bin Fahd bin Abdullah, have confirmed they are holding talks with Gillett, who holds power at Anfield alongside fellow American Tom Hicks.

Hicks and Gillett have been forced to shelve plans for Liverpool's new stadium due to the ongoing global economic crisis.

And manager Rafa Benitez saw his summer transfer budget restricted with the signings of Glen Johnson and Alberto Aquilani largely financed by Xabi Alonso's departure to Real Madrid.

Final agreement
F6 could purchase all of Gillett's 50 per cent stake in the Merseyside outfit to take joint control alongside Hicks, with another option that they buy part of the Texan's share.

"We have not reached a final agreement yet," Gassim Hamidaddin, F6 deputy managing director, told Reuters.

"We are discussing how much 25 per cent or 50 per cent in Liverpool will be worth."

Hicks and Gillett have come under fire from some Liverpool supporters since taking charge, with the duo also enduring a fractious relationship at times.


Offline Kopite999

  • Established
  • ****
  • Posts: 788
    • View Profile
Re: Saudi prince set to invest
« Reply #8 on: September 28, 2009, 12:11:19 PM »
I think that no matter who owns us in 12 months time, there is going to be major boardroom struggles in the years to come. The only way we can have stability in future years is for both Americans to do one, and a completely new regime (that can afford to run a club of our size without big loans) put in its place.

FlotionPotion

  • Guest
Re: Saudi prince set to invest
« Reply #9 on: September 28, 2009, 01:51:58 PM »
If I am clear on this, this means that Gillet will be bought out for twice what he borrowed from the bank. Gillet I assume will repay his half of the 245 million back to the bank which should have an knock on effect on the interest payments.

Is there any mention of investment from the Saudi group. If not then we are only better off to the tune of less interest payments and still no investment.

Hicks has always stated that he wants 51% which has been the stumbling block in any investment.  Who is going to commit that kind of money for a losing stake. Even if the Saudis wanted to invest, I can't see them plouging money into
1 a company they don't own
and 2 where the other partner brings nothing to the table.

The hicks / gillet partnership works because neither of them wants to invest in the club.

I see dark days ahead if we change owners again

Offline Tes

  • Too old to be a
  • Veteran
  • *****
  • Posts: 10196
  • I hate defending
    • View Profile
Re: Saudi prince set to invest
« Reply #10 on: September 28, 2009, 10:49:45 PM »
I think this figure of £200M - £350M is a bit misleading. No-one in their right mind will state the range within which their prepared to make their offer. More likely is a deal that values 50% (of whoever's shares) at £200M with the additional £150M pledged towards the stadium funding if the remaining partner(s) can match that input, if not then it's a straight purchase of shares for the lower value end price. Depending on what the deal is would therefore make the entire transaction valued at £200M - £350M.

Just as likely is this is a nice bit of PR and profile raising for the Prince linked to a joint venture in academies and a NASCAR circuit (of course the club will be covering Gillette's expenses for the negotiations for this) and shows the world how healthy a business we are as there are yet again 'interested' investors, making Hicks and Gillette look good on the back of nothing.
Don't make the same mistake twice, there's plenty of new ones to choose from.

Those who choose to preach would do well to take note of their own sermons.

Offline Tes

  • Too old to be a
  • Veteran
  • *****
  • Posts: 10196
  • I hate defending
    • View Profile
Re: Saudi prince set to invest
« Reply #11 on: September 28, 2009, 10:57:40 PM »
George Gillett explores billionaire’s interest in Liverpool investment

Tony Barrett   September 29, 2009


An Indian billionaire is the latest wealthy individual to express an interest in investing in Liverpool.

Representatives of the unidentified man, who made his fortune in the energy industry, held talks with George Gillett Jr, the Liverpool co-owner, at a dinner meeting held at the Cipriani restaurant in Mayfair, Central London, on Sunday.

Gillett is following up the initial findings of Rothschild, the investment bank that he set the task of finding potential stakeholders in Liverpool. The American bought the club with Tom Hicks, his co-owner and compatriot, in February 2007.

Rafael Benítez, the Liverpool manager, dismissed fears that speculation about the club and their ownership could be a distraction to his team as they look to build on a run of six successive victories. “I spoke to George after the game against Hull on Saturday and all we talked about was football,” he said on the eve of tonight’s Champions League group E match away to Fiorentina. “I was relaxed because we had won.”

Prince Faisal bin Fahd bin Abdullah al-Saud, a member of the Saudi Arabian Royal Family who claimed he is ready to make an offer of up to £350 million for a 50 per cent stake in Liverpool at the weekend, has confirmed that a deal has been done with the Merseyside club that will lead to the opening of two academies, one in Saudi Arabia and the other in North Africa.

The agreement signed by Gillett and Prince Faisal on behalf of the F6 group he chairs will also extend the interests of the American’s Nascar franchise.

“The memorandum of understanding with the George Gillett group will establish an exclusive partnership between F6 group, Liverpool FC and Richard Petty Motorsports team,” an F6 statement read. “His Highness Prince Faisal stated that the partnership with George Gillett’s group will be a good addition to F6. This partnership will provide a lot of investments in football, racing and sports media in Saudi Arabia and the Middle East.”

Gillett is in Italy for Liverpool’s match against Fiorentina and has refused to speak on the record about his plans for the Anfield club or the possibility of incoming investment.


http://www.timesonline.co.uk/tol/sport/football/premier_league/article6853042.ece

Surely not another interested investor - my, aren't we popular again.

At least this 'Indian billionaire' is keeping himself out of the press, then again 'ghosts' are notoriously difficult to photograph or get an interview with.

With all this kicking off again I sense we must have a match against Chelsea soon, if the recent pattern is anything to go by.
Don't make the same mistake twice, there's plenty of new ones to choose from.

Those who choose to preach would do well to take note of their own sermons.

Offline Tes

  • Too old to be a
  • Veteran
  • *****
  • Posts: 10196
  • I hate defending
    • View Profile
Re: Saudi prince set to invest
« Reply #12 on: September 28, 2009, 11:34:37 PM »
Kop chaos! Liverpool co-owner Tom Hicks won't budge over £200m-plus offer from Saudi


by JOHN EDWARDS
Last updated at 2:19 PM on 28th September 2009


Tom Hicks is set to step up his power battle with fellow Liverpool owner George Gillett by rejecting an initial investment proposal from a billionaire Saudi prince.

Hicks is expected to turn down a £200m-plus offer to buy 50 per cent of the shares in the club from Prince Faisal bin Fahd bin Abdullah, who sat beside Gillett at Anfield on Saturday to watch Liverpool's 6-1 thrashing of Hull.

It is the latest twist in an unseemly scramble between Hicks and Gillett to find backers willing to make an offer the other cannot refuse.

Hicks has been scouring the Middle East while Gillett thinks he has seized the initiative by courting Prince Faisal, who is the boss of investment company F6.

The Prince told Al Riyadh newspaper: 'We're seeking to buy 50 per cent of the shares in the club, which is suffering debts of £245m. The transaction, on which a decision is close, will be worth between £200m and £350m.'
But Liverpool insiders played down suggestions a deal may be imminent, while sources close to Hicks claimed he was not about to sell his stake, despite being aware of the Prince's Anfield visit.
 
Prince Faisal was officially there to rubberstamp an initiative to build a Liverpool academy in his home country. He witnessed the depth of animosity towards Gillett and Hicks, as hundreds of fans demonstrated against them outside the main entrance before kick-off and many in the Kop unfurled banners calling for the pair to sell up.
Prince Faisal will find Hicks in no mood to concede defeat to his fellow American. Relations have thawed after their fall-out and refusal to speak last year, but Hicks will dig his heels in over the value of his stake.
It is understood he may be prepared to sell, but it would have to be significantly nearer the top end of the wide range mentioned yesterday.
Gillett received a £360m windfall from the sale of his Montreal Canadiens ice hockey team, but Hicks has always seemed the more pro-active decision-maker after pushing through manager Rafa Benitez's contract extension and bringing in Christian Purslow as managing director for outgoing chief executive Rick Parry.
He is expected to stand firm in the face of renewed pressure from Gillett to make way.
A spokesman for the Prince's holding company, Fama, said: 'What I know is that the Prince attended the game and signed an agreement with Liverpool yesterday to build a sports academy in Saudi Arabia.'


http://www.dailymail.co.uk/sport/football/article-1216532/Kop-chaos-Liverpool-owner-Tom-Hicks-wont-budge-200m-plus-offer-Saudi.html

Surely this would never happen. It would be so out of character for Hicks.
Don't make the same mistake twice, there's plenty of new ones to choose from.

Those who choose to preach would do well to take note of their own sermons.

Offline the dude abides

  • Veteran
  • *****
  • Posts: 8113
  • that rug really tied the room together
    • View Profile
Re: Saudi prince set to invest
« Reply #13 on: September 29, 2009, 02:58:22 AM »
Saudis confirm Liverpool link`
 http://english.aljazeera.net/sport/2009/09/2009928191226829582.html
 
 The buyout would raise Liverpool's profile in the Middle East [GALLO/GETTY]
 Prince Faisal bin Fahd bin Abdullah al-Saud has confirmed interest in buying up to half of football club Liverpool in a deal worth up to $560 million that would mark the latest buy-in by Gulf investors in an English Premier League team.
 
 The prince has begun negotiations to buy out the 50 percent share of Liverpool held by co-owner George Gillett Jr, and is carrying out due diligence, going through Liverpool's accounts, with a view to buying all or part of Gillett's share through his sports investment firm F6.
 
 He has been given a period of exclusivity of several months in terms of negotiating with Gillett, F6 director Barry Didato told AP.
 
 "The prince is looking to buy anywhere from 0 to 100 percent (of Liverpool), but he doesn't need to have a controlling interest,'' said Didato, director of strategic investment at F6.   At the moment he is only working with George Gillett and I'd certainly think it would have happened by the end of this year.''
 
 Gillett would not be able to act independently of co-owner Tom Hicks and sell his 50 percent stake without the permission of the Texan.
 
 However, Hicks would be willing to allow 25 percent of the club to be sold, an executive familiar with the situation said on Sunday.
 
 The executive spoke on condition of anonymity because the club is not discussing the situation publicly.
 
 Prince Faisal, along with Didato, was at Anfield on Saturday to see Liverpool thrash Hull 6-1 when the deal with Gillett was signed. That agreement will also see the prince and Gillett explore building football academies and rolling out NASCAR motorsport in the Middle East.
 
 If Prince Faisal was to acquire a stake in Liverpool, it would mark the latest investment in football by investors from the oil-rich Gulf region.
 
 Sheik Mansour bin Zayed Al Nahyan, a member of Abu Dhabi's ruling family, bought Manchester City for around $336 million.
 
 The team has spent more than $300 million on new players since Sheik Mansour took over, raising hopes that the long underachieving club could move up in the Premier League and grab a spot in the Champions League.
 
 Sulaiman al-Fahim, the Emirati businessman who helped broker the Manchester City takeover for Sheik Mansour, has also taken control of his own Premier League team - Portsmouth.
 
 Al-Fahim said he completed his takeover of the club last month, though not before the team was forced to sell several players to meet debt payments.
 
 Al-Fahim formerly headed an Abu Dhabi property company and hosted an "Apprentice'' style reality show in the Middle East.
 
 Also, Dubai's Emirates airline significantly boosted its name recognition in the Britain by negotiating a multi-year deal in 2004 worth more than $160 million to attach its name to Premier League club Arsenal's stadium.
 
 The company's ties with the club were strengthened earlier this year when Arsenal opened a football academy in Dubai.
In the midst of winter, I finally learned that there was, in me, an invincible summer.

There’s no next time. It’s now or never.

I am The Egg Man

  • Guest
Re: Saudi prince set to invest
« Reply #14 on: September 29, 2009, 10:19:26 AM »
It's been on Sky Sports news all morning that George Gillett has given the Saudi prince several months exclusivity to look over the books.