Sale of Liverpool to American group is completed
The sale of Liverpool to Boston Red Sox owner New England Sports Ventures (NESV) has finally been completed.
The move comes after several days of legal wrangling by former owners Tom Hicks and George Gillett to try to hang on to power, as they removed a restraining order preventing the sale on Friday (15 October).
That allowed NESV to complete the takeover for a sum of £300m, a move also means that the club will be able to repay the £237m owed to Royal Bank of Scotland in loan repayments in time and make it highly unlikely that the club will enter into administration.
A statement on Liverpool’s official website confirmed the news which will see all of the acquisition debt placed on the Reds by Hicks and Gillett eliminated.
'Humbled' to be Liverpool owner
NESV’s principal owner John W. Henry said that: "On behalf of the entire NESV partnership, I want to express how incredibly proud and humbled we are to be confirmed as the new owners of Liverpool FC. We regard our role as that of stewards for the club with
a primary focus on returning the club to greatness on and off the field for the long-term.
“We are committed first and foremost to winning. We have a history of winning, and today we want LFC supporters to know that this approach is what we intend to bring to this great club."
Chairman Martin Broughton added that: “NESV is buying Liverpool in order to put it on an excellent financial footing and continue to develop it internationally. This is a good deal which comprehensively resolves the pressing issue of the Club's debt and
should give staff, players and fans great confidence regarding the future of Liverpool FC."
However, the saga is not yet at a close, with Hicks and Gillett claiming that they will be seeking damage costs of £1bn after saying that the deal is “illegal”. The duo added that they will "pursue every legal avenue” to recoup their losses.
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