Quote:
Originally Posted by Coys1882
Serious question:
Why should Hicks and Gillette just walk away from the losses they are faced with? How can people be surprised they aren't going to do everything they can to keep control of this team? Especially since they claim they have proof of a higher bid than NESV and then collusion between the bank and the other board members.
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If you buy an asset, then you dont maintain it for 3 years why would you expect it to have appreciated in value?
They bought the club and they want to make money off of it despite the fact that they have run it into the ground and it has depreciated in value due to their ownership. They are not going to make any money. It isnt going to happen.
There is a higher bid, I know of one for sure, but the fact of the matter is that Peter Lim didnt get that bid in until a deal was effectively sealed with NESV. And, while the additional £40M of Lim's offer isnt chump change, it isnt the £144M shortfall that Hicks & Gilette are facing.
In effect, NESV was the highest bidder, and then Lim threw his hat in the ring when the deal was done, well, what can you do now? You've just signed a contract, so H&G got their panties in a bunch.
Further, the board was commissioned to find the 'right' buyer, not just the one who will pay the most.
Honestly, these guys are in this situation now of their own doing. The thing with H&G is that they value this club at £515M, thats what they want to get out of it, and right now no offer has come close to that and it wont, the reason being is that these two idiots have a huge goddamn mortgage of £237M on the club. If you crunch the numbers it isnt bad.