EPL News: NESV takeover Liverpool FC, Hicks and Gillett still persistent
It’s finally over as Liverpool are out of the storm after a cloudy and hazy summer at Anfield. Their financial situation was far from being in calm seas but with England Sports Ventures having put pen to paper on a 300 million pound deal it is expected that
the club will be more prosperous with time.
The most recent news about the Merseyside club is that owners of the Boston Red Sox are finally the proud owners of Liverpool Football club after the former American owners Tom Hicks and George Gillett had to face defeat in their attempts to remain in power
of the Reds.
The two men that will probably be lambasted and remembered at the Merseyside with hatred finally had to face nothing but a solid wall and humiliation.
All over these last few days they fought tooth and nail to retain possession of the club. Be it their so called legal battle or the technical plays they made, in the end the fans were exuberant for their departure.
An official press release from NESV has gladly announced, “The deal has been done.”
This change in ownership of the club will finally bring a much awaited end to the era of Hicks and Gillett which lasted about three and a half troublesome years. Though the duo can’t interfere directly into matters of Anfield anymore this still hasn’t stopped
them from connecting to the club indirectly.
While Mill Financial (a company owned by Gillett) owns some funds to Royal Bank of Scotland, this along with some technical papers makes him responsible for about 237 million pounds.
Now Hicks is also planning to invest in the company as a back up plan though RBS are reckoning to refuse returns on those funds. That unfortunately is just part of the story as Hicks and Gillett have also sworn to sue 1 billion pounds if their demands are
not met.
They have declared the sale of Liverpool to NESV as “illegal”. They further elaborated their next step saying that if NESV continued with their motives they were going to launch a campaign against them to destabilize and eradicate the organization.
Officials representing Hicks and Gillett have stated that they have orders from the owners to sue over the situation. They also informed the press that under law Hicks and Gillett were forced to obey the decision but this in no way suggested that the Americans
were going to desert their cause.
The lawyer from Texas, Steve Stodghill who is representing Hicks and Gillett stated on the issue, “This outcome not only devalues the club but it also will result in long-term uncertainty for the fans, players and everyone who loves this sport because all
legal recourses will be pursued.”
He added, “Mr. Hicks and Mr. Gillett pledged to pay the debt to RBS so that the club could avoid administration that was threatened by RBS. That offer was rejected.”
He determinedly explained the next step the former owners were going to take, “It is a tragic development that others will claim as a victory. This means it won't be resolved the way it should be resolved.”
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