Thursday, October 7, 2010

Liverpool Has A Court Battle Lined Up

The fight to control Liverpool's future is heading for the high court next week, after the chairman, Martin Broughton, insisted he has the legal right to sell the club despite the opposition of Tom Hicks and George Gillett, the American owners. Broughton and the club's managing director, Christian Purslow, and the commercial director, Ian Ayre, said they had agreed a sale to New England Sports Ventures, owners of the Boston Red Sox baseball team, a deal that would give Hicks and Gillett nothing for their shares nor their £144m loans back to the club. NESV, a group of 17 investors led by the US multimillionaire John W Henry, has agreed to clear the club's £200m debt with the Royal Bank of Scotland, which Hicks and Gillett borrowed to buy Liverpool in the first place, and meet other liabilities of around £100m. The proposed deal has the backing of the Premier League. Broughton announced that he has launched legal proceedings to confirm his three-man board majority has the right to conclude the sale, saying: "The owners have tried everything to prevent the deal from happening."

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