Two In The Liverpool: Hicks, Gillett Bid For Soccer Club
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Hicks Joins Canadiens Owner
In Bid For Liverpool FC |
MLB Rangers and Stars Owner Tom Hicks “has agreed to go half-and-half” with Canadiens
Owner George Gillett Jr. on a $450M purchase of Premier League club Liverpool,
according to Evan Grant of the DALLAS MORNING NEWS. Dubai Int’l Capital withdrew
its bid for the team on Tuesday after a new bid by Gillett. This is “believed
to be the first time two major sports owners have gone into partnership on another
franchise.” Other U.S. pro team owners who have bought Premier League clubs include
the Buccaneers’ Malcolm Glazer (Manchester United) and the Browns’ Randy Lerner
(Aston Villa). Patriots Owner Robert Kraft reportedly considered a bid for Liverpool
last year. Sports Business Group President David Carter: “I think it’s inevitable
that owners would look (to European soccer) as a revenue opportunity. ... I think
you will see more of this. There are just more chances to cross-brand and to market,
not to mention the potential return on the investment” (DALLAS MORNING NEWS,
2/2).
DETAILS: Gillett, who has hired Rothschild to handle his offer, “has not
made public how he intends to pay” for his portion of the deal. But a source said
it is not a “majorly debt-driven venture” (London INDEPENDENT, 2/2). Hicks
and Gillett have “carried out due diligence and are now preparing a formal offer
which is expected to be presented to the Liverpool board early next week” (ESPNSOCCERNET.com,
2/1). A “formal takeover announcement is expected on Monday” (London TELEGRAPH,
2/2).
NHL CHECKS OFF: NHL Deputy Commissioner Bill Daly in an e-mail wrote the
Liverpool transaction would “not run afoul of the Ownership Conflict provisions
of the league constitution.” Hicks and Gillett already are partners in a beef
and pork processing company named Swift & Co. Stars President Jim Lites said of
the Liverpool deal, “I just think it’s two guys who work well together who have
spotted a good investment” (DALLAS MORNING NEWS, 2/2).
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