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Bwawa la Maini Lauzwa: Liverpool FC Agrees Sale To Baseball Owners

Discussion in 'Sports' started by Shadow, Oct 6, 2010.

  1. Shadow

    Shadow JF-Expert Member

    Oct 6, 2010
    Joined: May 19, 2008
    Messages: 2,898
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    Breaking News

    7:29am UK, Wednesday October 06, 2010

    Liverpool FC Agrees Sale To Baseball Owners

    A proposed deal to sell Liverpool Football Club to the owners of the Boston Red Sox has been agreed, the club has confirmed.

    [​IMG] On the pitch, Liverpool are floundering near the foot of the Premier League

    Describing a night of "real drama", Sky News City editor Mark Kleinman said: "A deal was agreed to sell Liverpool Football Club to New England Sports Ventures, the owner of the Boston Red Sox."
    However, he added that completing a deal is still likely to be "pretty tricky".
    "The deal would effectively eradicate Liverpool's long -term debt - which is about £250m - but there will not be much money left on the table.
    "The current owners (Tom Hicks and George Gillett Jr) do not want this deal to happen because they will not receive any or, if any, only a small amount of the proceeds."

    [​IMG] Tom Hicks and George Gillett Jr took over the club in 2007

    In a new twist in a bitter boardroom battle, Liverpool FC statement last night confirmed Mr Hicks and Mr Gillett had tried to remove managing director Christian Purslow and commercial director Ian Ayre from the board of directors and replace them with Mack Hicks and Lori Kay McCutcheon.
    The statement added: "This matter is now subject to legal review and a further announcement will be made in due course."
    Liverpool - languishing in the relegation zone under new boss Roy Hodgson - has an October 15 deadline to repay debts to the Royal Bank of Scotland resulting from the 2007 takeover by Hicks and Gillett.

    After that deadline, RBS would be allowed to take control of it, the asset against which the loans are secured, and sell the club on to recoup the cash.
    RBS' position over the loans has contributed to the reluctance of interested parties to submit formal bids.
    Mr Hicks and Mr Gillett initially wanted around £800m for Liverpool, a figure that dropped to £600m.
    Earlier this year, the American duo also turned down a £110m bid from New York-based Rhone Group for 40% of the club.

    [​IMG] On the pitch, Liverpool are floundering near the foot of the Premier League