To enjoy the full Mail & Guardian online experience: please upgrade your browser
06 Oct 2010 09:23
Liverpool have agreed to the sale of the club to New England Sports Ventures (NESV), the owners of Major League Baseball’s Boston Red Sox, the English Premier League club said on Wednesday.
The sale is conditional on Premier League approval, resolution of the dispute concerning board membership and other matters, a Liverpool statement said.
“I am delighted that we have been able to successfully conclude the sale process, which has been thorough and extensive,” Liverpool chairperson Martin Broughton said in a statement on the club’s website.
“The board decided to accept NESV’s proposal on the basis that it best met the criteria we set out originally for a suitable new owner. NESV’s philosophy is all about winning and they have fully demonstrated that at Red Sox.”
Liverpool’s current American owners, Tom Hicks and George Gillett bought the Merseyside club in February 2007 for £218,9-million ($347,5-million).
They instructed Barclays Capital in April to find a buyer and appointed British Airways chairperson Broughton to oversee the sale.
Broughton said he was disappointed the owners had “tried everything to prevent the deal from happening”.
The five-times European champions owe £237-million to their major creditors Royal Bank of Scotland, which has set a deadline of October 15 for the debt to be refinanced and Broughton said the agreement removed the burden of acquisition debt.
Create Account | Lost Your Password?