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-   -   News Article: Gillett in trouble in Liverpool (http://hfboards.hockeysfuture.com/showthread.php?t=578956)

Thinkaboutthat 12-02-2008 08:02 AM

Gillett in trouble in Liverpool
 
According to Sports Business Journal, George Gillett is trying to refinance $75 million of personal debt that pledges his interest in his Liverpool soccer team as collateral. If Gillett were unable to refinance and did not pay off the loan when it is due on Jan. 25, he would then default, meaning the lender could seek his ownership position. The interest rate is 19%!
Story: http://www.sportsbusinessjournal.com/article/60725

La Presse Jean-Francois Begin is in Liverpool and he asked to talk to Gillett at the stadium yesterday. Gillett refused.
http://www.cyberpresse.ca/opinions/c...-liverpool.php

BigTimer* 12-02-2008 08:05 AM

19%? Did he put that on his VISA or what?

onice 12-02-2008 08:14 AM

Quote:

Originally Posted by BigTimer (Post 16603742)
19%? Did he put that on his VISA or what?

That's 19% a day. He went to see Vinnie "Five Fingers Discount" Collacci in St Leonard.

Apparently the word in the village is that if Gillet doesn't pay the vig on time he loses the Habs too.

Boy! the French Press will have something to b*tch about then. One pip outta them about the mistreatment of Lats or any other native son and they'll be measured for new shoes - the sturdy, waterproof kind.

Thinkaboutthat 12-02-2008 08:53 AM

Risk was pretty high to justify a 19% interest rate. Imagine if you had to pay that kind of rate on your mortgage!!!

CastroLeRobot 12-02-2008 09:10 AM

there is no such thing as a 19% interest rate A DAY. 19% a year is pretty high. 75 millions at 19% for 2 months is almost 2.5 million dollars in interests

otto bond 12-02-2008 09:12 AM

Quote:

Originally Posted by onice (Post 16603803)
That's 19% a day. He went to see Vinnie "Five Fingers Discount" Collacci in St Leonard.

Apparently the word in the village is that if Gillet doesn't pay the vig on time he loses the Habs too.

Boy! the French Press will have something to b*tch about then. One pip outta them about the mistreatment of Lats or any other native son and they'll be measured for new shoes - the sturdy, waterproof kind.

Balsillie is a lair:sarcasm:

Fido22 12-02-2008 09:23 AM

Uncle George is over leveraged:scared:

Seriously, :scared:

EDIT: Over leveraged America:shakehead

onice 12-02-2008 09:26 AM

Quote:

Originally Posted by CastroLeRobot (Post 16604172)
there is no such thing as a 19% interest rate A DAY. 19% a year is pretty high. 75 millions at 19% for 2 months is almost 2.5 million dollars in interests

You, sir, have obviously never been to a loan shark.

That was a joke. I thought the flippant use of ethnic stereotypes would give it away. Apparently, I forgot to whom I was posting. Next time I'll use the sarcasm icon

BigTimer* 12-02-2008 09:29 AM

Quote:

Originally Posted by Fido22 (Post 16604276)
Uncle George is over leveraged:scared:

Seriously, :scared:

EDIT: Over leveraged America:shakehead

I think he's ****ed. His only hope comes from private investors that would like to team up with him. No way does he manage to refinance this on his own... banks are having none of it.

Habs 4 Life 12-02-2008 09:29 AM

Quote:

Originally Posted by onice (Post 16603803)
That's 19% a day. He went to see Vinnie "Five Fingers Discount" Collacci in St Leonard.

Apparently the word in the village is that if Gillet doesn't pay the vig on time he loses the Habs too.

Boy! the French Press will have something to b*tch about then. One pip outta them about the mistreatment of Lats or any other native son and they'll be measured for new shoes - the sturdy, waterproof kind.

Probably the only way the Habs start getting some respect around the league:D

Fido22 12-02-2008 09:35 AM

Quote:

Originally Posted by BigTimer (Post 16604336)
I think he's ****ed. His only hope comes from private investors that would like to team up with him. No way does he manage to refinance this on his own... banks are having none of it.

I agree. Banks would have none of it back then judging by the identity of the lender and the conditions of financing. Imagine now, in the current context.

Hopefully, he doesn't have any personal guarantees in his Liverpool financings.

I think his business model is dead, like the rest of the over leveraged stack of cards economy.

onice 12-02-2008 09:37 AM

Hey, Habs4life, I am one of the few people on this board who knows what your little caption means.

Suca mu quatzo.

Your folks are probably from southern Italy. Northerns wouldn't write it that way. Northerns would probably not ask for that favor either.

Actually it should be:
suca mu quatz'. There is no "o". The "o" is silent.

Roots73 12-02-2008 09:44 AM

Does this mean that the Theodore's are going to own the Habs?:help:

dutchy29 12-02-2008 09:48 AM

Quote:

Originally Posted by Roots73 (Post 16604496)
Does this mean that the Theodore's are going to own the Habs?:help:

I've always wanted the Mafia to own the Habs, my dreams are finally coming true.:nod:

CastroLeRobot 12-02-2008 11:01 AM

Quote:

Originally Posted by onice (Post 16604305)
You, sir, have obviously never been to a loan shark.

That was a joke. I thought the flippant use of ethnic stereotypes would give it away. Apparently, I forgot to whom I was posting. Next time I'll use the sarcasm icon

sorry, I read your post too fast and didn't get the Vinnie in St-Leonard...

What's that with the "I forgot to whom I was posting", do you know me? Have I ever replied to your posts before?

C4KOMI 12-02-2008 11:17 AM

there goes GILLETTE here comes RIM.

Travis Moen 12-02-2008 11:18 AM

I hope Liverpool goes bankrupt and sells all their players.

Tuggy 12-02-2008 01:57 PM

Quote:

Originally Posted by C4KOMI (Post 16605498)
there goes GILLETTE here comes RIM.

Ha, I wonder if that would happen.

RC51 12-02-2008 02:13 PM

Oh God, could this be a secret plot by Burke to get Gillett in trouble and then Toronto steps in to buy the Habs and then Burke can just transfer all good players on the Habs to the Leafs.

Guy Germaine 12-02-2008 02:27 PM

Quote:

Originally Posted by RC51 (Post 16608122)
Oh God, could this be a secret plot by Burke to get Gillett in trouble and then Toronto steps in to buy the Habs and then Burke can just transfer all good players on the Habs to the Leafs.

Burke likes size and toughness....so no.


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