The promise of NSEV and the Liverpool boardroom saga
It seems like that bad days are soon going to be over for Liverpool football club as the club edges ever so close to a change of ownership as New England Sports Ventures are willing to buy the club from Tom Hicks and George Gillet.
And the prospective new owners have come out and said that they will get the club rid of their 300 million pounds debt and restore the merseysiders to their rightful place in English football.
NSEV has said that they will pay off the 200 million debt to Royal Bank of Scotland and make sure that Roy Hodgson has a huge war chest to invest in new players in the next transfer widow.
The NSEV, who are also owners of Red Sox have also confirmed that the Liverpool board of directors have accepted their bid of 300 million pounds to complete the takeover.
But the situation is not as simple as it appears. The boardroom is in a two-way split although the majority is supporting the takeover but the matter is still going to the court.
Here is a bit of an explanation on the matter:
The Liverpool boardroom consists of 5 members, Christian Purslow, David Broughton, Ian Ayre, Tome Hick and George Gillet.
Ayre, Purslow and Broughton are in favour of the takeover as they see it is beneficial for the club, while the two American owners are not supporting the sale and are trying to block it as 300 million pounds is not enough money for them to make a profit.
Liverpool owe 282 million pounds to the Royal Bank of Scotland and 15 of October is the last date for the payment of a 200 million pound instalment and If Hicks and Gillet fail to find an investment of 200 million before that day then Royal Bank of Scotland
will take over the reins from the American owners and will sell it to anyone who can pay off the loan.
The scenario put the NSEV in an even stronger position as they are not only willing to pay off the debts but also willing to invest in new players.
Hicks is opposing the sale as he will not make any profit from the deal and is more than likely to incur a loss, if the club is sold for 300 million pounds. That is why he tried to block the sale and even tried to remove Purslow and Ayre from their posts
so that he can bring two of his own men and side their consent with his in the next boardroom meet.
Purslow, Broughton and Ayre have taken the matter to court, and it is expected that the court will deliver the verdict by Friday, which is more than likely to be in favour of the plaintiff rather than the defendants.
NSEV are owned by John Henry, who to his credit has the success that his regime brought to the Boston Red Sox when he ended an 86-year title drought to land the World Series title back in 2004.
NSEV’s portfolio also includes a successful TV channel, The New England Sports Network.
NSEV are also promising to address the long pending stadium issue at Liverpool and recognize that Anfield cannot be kept in its current state and needs to be upgraded.
The situation is gloomy at the moment but there sure is light at the end of the tunnel and with a 15th October pending date the court is also expected to deliver a verdict sooner rather than later.
Perhaps good days are just round the corner for Liverpool Football Club.
Tags: