Absolutely. It’s a result of chronic tax and other exemptions.
Half way there if someone wins this. Our North American friends should get on it and then stick it all on a roulette table for double or quits.
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I think I’ll take my chance.
I’ve already answered that - it’s the difference between closing a deal that was on the table vs going into the market to solicit interest.
If you want to buy a house and you know the one you want and struck a deal in principal with the owner then a lawyer is sufficient to put together the paper work to make it official. You wouldn’t hire the lawyer if you also need them to find you the house you want to buy. That’s the bit that GS are valuable for.
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Why instruct two lawyers?
Or are you using the two most well connected financial institutions to spread your reach?
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I’m on it. 
I’ll chip in a tenner for a minority sharehold.
LFC is up for auction the way I see it…
Any asset is worth what someone is willing to pay for it, immaterial whether the book value is calculated at more or less than that offered sum…
Yes. That is precisely their role. Their value does not come in their ability to close the deal, but in bringing the right people to the table. Like matchmakers. You hire 2 of them to make it a competitive process. Again, this is indistinguishable from the outside with what it would look like if they were trying to sell up completely, so I am absolutely not ruling it out. I am just saying it is still explained by FSG doing what they say in their statement, which is what we’ve long known they wanted to do.
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It’s a deal. I already gave notice at work 
But also usually to do the work to close the deal, is it not the case?
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The lawyers will sift the wheat from the chaff
Indeed. No different to IPOs. Normally more than one investment bank will be involved in the process.
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From Paul Joyce:
The Liverpool owner Fenway Sports Group has instructed bankers to sound out what potential buyers would pay for the club as it seeks fresh investment.
FSG appear to be contemplating an end to their journey. Although sources say no immediate sale is in the offing, US banks Goldman Sachs and Morgan Stanley are assisting with the process, although it is understood that FSG has no immediate plans to sell and views the development as purely exploratory at this stage.
FSG is thinking of selling up. 2.5 bil for Chelsea must have them rethinking spending upwards of 100 mil on one player this summer.
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I think we agree mostly, I just think it’s a sale, you don’t. That’s all good 
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Joyce goes on to say it’s exploratory, if they know what the value as a whole is (what people are willing to spend on LFC), it will help them determine what a minority stake would be. Essentially, it’s all on the table. FSG want more money, and will sell everything if the price is right or seek out new money in a minority share.
So…everyone’s viewpoint is correct if you ignore the bit that doesn’t line up with what you think they are doing.
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At a £4 billion valuation, that is still £400K. Not sure I would want to do that even if I could.
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Its got to be huge respect to Henry and Werner et al, they clearly have realised they have had their time, are not getting any younger, absolutely did deliver on their promises - lest we forget where G&H left us - and overwhelmingly that they will not be able to compete without significant prospects of cheating the FFP rules.
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4B is crazy isn’t it.
0.001% then.
You’d still more than make your investment back.