English Premier League gives go-ahead to Liverpool takeover
The English Premier League has given the green light to a move by New England Sports Ventures (NESV) to take over Liverpool.
However, the buyout hinges on the outcome of a High Court case involving the club’s current owners Tom Hicks and George Gillett.
In a statement, the EPL said that: "The Premier League has met with the owners and directors of NESV regarding their proposed takeover of Liverpool FC and has received details, in accordance with Premier League rules, of the proposed company and ownership
structure as well as the make-up of the new board.
"The Premier League is satisfied, with the information provided, that the individuals NESV intend to put in place in the event they complete their takeover of Liverpool FC meet the criteria set out in our owners and directors test.
"The board of the Premier League will continue working with Liverpool FC in regard to this process, however, we are aware that the formal completion of this takeover is yet to be resolved and it is therefore inappropriate for us to offer any further comment
at this time."
Hicks and Gillett standing in way of deal
That means that the only obstacle standing in the way of the deal going through is a bid by Hicks and Gillett to hang on to control. The American pair are said to be furious at the level of NESV’s offer of around £300m as they had been hoping for a figure
double that. As a result, they have moved the case to the courts to try and keep ownership of the club.
Any delays in the takeover going through could prove disastrous for Liverpool. If the deal is not completed by next Friday (15 October), the Royal Bank of Scotland could put the club’s parent business Kop Holdings into administration over an unpaid debt
of £280m — a move that could also incur a nine-point deduction in the EPL.
Tags: