Liverpool High Court battle begins tomorrow
The immediate future of Liverpool Football Club will be decided in the High Court on Tuesday.
Reds owners Tom Hicks and George Gillett are opposing the decision by the remainder of the club’s board to sell to New England Sports Ventures [NESV], and are attempting to remove two of the members of that board – managing director Christian Purslow and commercial director Ian Ayre – in order to block the £300million sale.
Chairman Martin Broughton argues that he has documents that prove it is only he who has the authority to alter the members of the board, and he is expected to be backed by the Royal Bank of Scotland [RBS] – who the Reds are in debt to to the tune of around £240million, and who will be immediately paid if the NESV takeover is rubber stamped.
If Hicks and Gillett win the case and the debts are not paid by Friday, then RBS have the power to plunge Liverpool into administration, and therefore dock the club nine Premier League points. Already languishing in the bottom three of the table with just six points from seven matches, such a penalty would push the Reds closer to relegation.
The case is one of a number to be heard by Mr Justice Floyd in Court 18 of the famous London courtrooms tomorrow, with the session beginning at around 10.30am BST.
Liverpool will be represented by Lord Grabiner QC, while hundreds of supporters are expected to make the journey to London to make their presence felt ahead of a critical day for the club.
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