Poker Faces at LFC

Clearly these “interested parties” and the bids (or not) have not magically appeared over the weekend. They’ll have been interested and probably sounding out their proposals for some time, I’d wager in fitting with Broughton’s timescale – that initial expressions of interest and opening proposals were submitted in mid-July. Since then they’ll have been negotiations going on as Barcap/MB responded to these and potential buyers considered their proposals accordingly.

Then over the weekend Huang goes public with his interest, main focus of his leaks to the press is on RBS, buying the debt and the October deadline. Seems to me an opening gambit to put pressure on the owners and board to play ball in the negotiations. Hence also the claims that he’s the only serious bidder talking to Barcap that came later on Monday/Tuesday. All designed to create pressure, including through getting fans excited.

Cue the response from MB concerning our 6 supposed bids, a riposte from the club to tell Huang they won’t be strong-armed and have other options (whether they do or not who knows, the club won’t have told prospective buyers who else is interested).

Following this we see last night the emergence of reports that Kirdi is in the final negotiations. This one’s up for interpretation, but the timing of it and apparent relationship to Gillett does arose suspicions that this is his challenge to Huang, a way of putting the ball back in his court by creating the impression that someone else is about to gazump him through the backdoor (hence the Kirdi statement reported an agreement with the Americans rather than the formal bidding process) and thus to pressure Huang to raise his bid. It’s also possibly suspicious that around the same time as the Kirdi rumours started to gather pace yesterday we saw increasing unnamed sources and media reports questioning the validity of Huang and who his backers are.

In this context, Huang’s latest statement appears to me to be Kenneth calling Gillett’s bluff. The statement says he’s interested but hasn’t yet bid, it’s a message that he won’t be rushed or strong-armed in the ongoing negotiations with Barcap/MB either. Thus he’s saying he’s not concerned by these Kirdi reports, he doesn’t believe they’ll gazump him or seal a quick deal. And with that volleyed return the ball is now back in Gillett’s/Kirdi’s court.

Which leaves the big question: is Kirdi the “real deal” (pardon the pun) or just a “stalking horse”? I couldn’t tell you but Huang is betting on the latter it would appear.

T’is a fascinating poker game being played through the press methinks.

Olivos Brasserie

I remember the Radisson Diplomat hotel being built in the late 1970’s and taking forever to be completed. In those days, the only real competitors were the Gulf Hotel and the Hilton (now the Golden Tulip). The construction was delayed for so long that other hotels were started later and finished earlier than the Diplomat.

Nowadays, there are a lot of changes taking place, with the Diplomat Residences being built in double quick time and a multi-level car park under construction. It is also a very popular place for the Friday brunch, with this last Friday before Ramadhan having over 1,000 places booked!

I met a friend for a working lunch at the Olivos Brasserie and enjoyed a quick buffet. The food was average, but the selection was extensive for a quick lunch, and they even provided coffee to go. With its central location, and for a working lunch, I found it ideal. 5/10