Thursday, August 12, 2010

Liverpool Board Likely To Meet Before Arsenal Game

SENIOR Anfield officials, responsible for the sale of Liverpool FC, are hoping to come together for a key meeting before the club’s opening fixture of the season.
Kop bosses have declined to confirm the exact timing of a mooted board meeting to discuss the contenders vying for the club.
It had been thought the meeting could take place today, but the Daily Post understands that is now unlikely to happen.
LFC chairman Martin Broughton had been keen to have progress to report to fans before the Arsenal Premier League match on Sunday.
It appears that the process is advancing slower than first hoped for, but, with three days until kick-off, it is still possible there could be an announcement.
The British Airways chairman has made clear to potential bidders that the process will not be rushed.
As revealed last week, it looks increasingly likely the board will be making a decision between bids that offer higher profits to the American owners and long term investment in the club.
Mr Broughton has made clear that the buyer must clear the £237m with Royal Bank of Scotland, provide cash for buying players and invest in a new stadium.
Co-owners Tom Hicks and George Gillett want to extract the highest price possible and leave the club with a large profit.
Consortiums being fronted by Syrian Yahya Kirdi and Chinese businessman Kenny Huang remain in pole position to buy the club.
Yesterday, it emerged Mr Huang is involved in an ongoing court battle with a former business partner after their relationship soured.
Judgment was handed down against him in January, 1999, by a circuit judge in Florida, and relates to a dispute with a former business associate, Yudong Zhang, and a company, T&K Guang Xin Enterprises.
Mr Huang was ordered to pay damages of $750,000 (£473,000) and interest of $788,300 (£497,000).
A spokesman for Mr Huang confirmed he was appealing against the decision.
He has successfully fought off four other court cases against him.
Mr Kirdi is understood to be being favoured by the Americans because his plans could deliver higher personal profits to the pair.
He leads a consortium of investors from the Middle East and Canada – it is unclear what their complete investment plans are.
Although earlier this week, he said: “I can’t pay one pound more than value of Liverpool. I’m not crazy.”
He said he is backed by “big names” from the Middle East and Canada who wanted to remain anonymous until his offer was accepted. Rhone Group and the Kuwaiti Al Kharafi family have also been linked with a deal.

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