Thursday, October 7, 2010

New Owners Promise To Rid Liverpool Of Debts

New England Sports Ventures say they will rid Liverpool of their debts. NESV said they will remove all "acquisition debt" from Liverpool - some £200million - if their takeover is successful. The owners of the Boston Red Sox also confirmed their £300million bid had been accepted by Liverpool's board. Whether it is successful depends on the High Court's ruling on a legal challenge by current owners Tom Hicks and George Gillett, who are facing a £144million loss and are claiming the board do not have the power to accept the offer against their wishes. A statement from NESV said: "NESV wants to create a long- term financially solid foundation for Liverpool FC and is dedicated to ensuring that the club has the resources to build for the future, including the removal of all acquisition debt. "Our objective is to stabilise the club and ultimately return Liverpool FC to its rightful place in English and European football, successfully competing for and winning trophies." Their portfolio includes a successful TV channel, New England Sports Network. The statement added: "NESV wants to help bring back the culture of winning to Liverpool FC. "We have a proven track record, shown clearly with the Boston Red Sox. The team has won two World Series Championships over the past six years. We will bring the same kind of openness, passion, dedication and professionalism to Liverpool FC."

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