Menu
06/10/2010
Sale Agreed For Liverpool FC
Liverpool Football Club is to be sold to the owners of the Boston Red Sox, it has been confirmed.
However, in the latest twist, a legal challenge hangs over the deal between John W Henry, from New England Sports Ventures, and the current owners of the club, Tom Hicks and George Gillett Jr.
Martin Broughton, Club chairman commented on Liverpool's official website: "I am delighted that we have been able to successfully conclude the sale process, which has been thorough and extensive.
"By removing the burden of acquisition debt, this offer allows us to focus on investment in the team."
The deal will clear Liverpool's long-term debt, estimated at £250m, however not be much money will be left over. With this in mind Mr Hicks and Mr Gillett do not want the deal to proceed.
Adding fuel to the fire, the latest Liverpool FC statement confirmed Mr Hicks and Mr Gillett had tried to replace board members - Managing Director Christian Purslow and Commercial Director Ian Ayre with Mack Hicks and Lori Kay McCutcheon.
Today, Mr Broughton commented: "I am only disappointed the owners have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale."
Mr Kleinman said: "Martin Broughton was recruited six months ago with a mandate to sell the club.
"As part of that agreement it was widely understood that he would have the casting vote on any sale.
"As the process has gone on it's become clear the owners have fallen out with the independent members of the board.
"The owners' priority was to maximise returns for themselves; the priority of the independent members of the board was to secure the best deal for the long-term future of Liverpool."
(BMcN/GK)
However, in the latest twist, a legal challenge hangs over the deal between John W Henry, from New England Sports Ventures, and the current owners of the club, Tom Hicks and George Gillett Jr.
Martin Broughton, Club chairman commented on Liverpool's official website: "I am delighted that we have been able to successfully conclude the sale process, which has been thorough and extensive.
"By removing the burden of acquisition debt, this offer allows us to focus on investment in the team."
The deal will clear Liverpool's long-term debt, estimated at £250m, however not be much money will be left over. With this in mind Mr Hicks and Mr Gillett do not want the deal to proceed.
Adding fuel to the fire, the latest Liverpool FC statement confirmed Mr Hicks and Mr Gillett had tried to replace board members - Managing Director Christian Purslow and Commercial Director Ian Ayre with Mack Hicks and Lori Kay McCutcheon.
Today, Mr Broughton commented: "I am only disappointed the owners have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale."
Mr Kleinman said: "Martin Broughton was recruited six months ago with a mandate to sell the club.
"As part of that agreement it was widely understood that he would have the casting vote on any sale.
"As the process has gone on it's become clear the owners have fallen out with the independent members of the board.
"The owners' priority was to maximise returns for themselves; the priority of the independent members of the board was to secure the best deal for the long-term future of Liverpool."
(BMcN/GK)
Related UK National News Stories
Click here for the latest headlines.
27 May 2015
Six Men Jailed After Whiskey And Chocolate Theft
Six men have been sentenced after lorries carrying whiskey and chocolate were stolen in Kent during April 2013. The thefts occurred in the Dover area. Police said high value whiskey with a retail price of £23,000 was stolen from the trailer of a lorry parked in a haulage yard in Lyndden.
Six Men Jailed After Whiskey And Chocolate Theft
Six men have been sentenced after lorries carrying whiskey and chocolate were stolen in Kent during April 2013. The thefts occurred in the Dover area. Police said high value whiskey with a retail price of £23,000 was stolen from the trailer of a lorry parked in a haulage yard in Lyndden.
15 March 2012
'Drunken Fans' Blamed For Hillsborough Tragedy
Confidential government documents have revealed a senior Merseyside police officer blamed "drunken Liverpool fans" for causing the Hillsborough disaster. The BBC has seen leaked briefings sent to former PM Margaret Thatcher about Britain's worst sports tragedy.
'Drunken Fans' Blamed For Hillsborough Tragedy
Confidential government documents have revealed a senior Merseyside police officer blamed "drunken Liverpool fans" for causing the Hillsborough disaster. The BBC has seen leaked briefings sent to former PM Margaret Thatcher about Britain's worst sports tragedy.
05 August 2009
Brothers 'Win' Hospital Poisoning Case
An eight-year legal battle has been won after a Merseyside hospital admitted effectively poisoning two brothers. Liam McNeely, 35, and his brother Paul, 39, received blood transfusions for a rare form of anaemia at the Royal Liverpool Hospital.
Brothers 'Win' Hospital Poisoning Case
An eight-year legal battle has been won after a Merseyside hospital admitted effectively poisoning two brothers. Liam McNeely, 35, and his brother Paul, 39, received blood transfusions for a rare form of anaemia at the Royal Liverpool Hospital.
17 October 2007
More Talks Due In Postal Dispute
The leaders of the Communication Workers' Union are due to meet with Royal Mail management for further talks on Thursday to decide whether to recommend an offer on pay and conditions to their members. The union reportedly wants to clarify outstanding issues of the deal.
More Talks Due In Postal Dispute
The leaders of the Communication Workers' Union are due to meet with Royal Mail management for further talks on Thursday to decide whether to recommend an offer on pay and conditions to their members. The union reportedly wants to clarify outstanding issues of the deal.
27 February 2009
Liverpool Confirms Parry Will Depart Club
Liverpool FC Chief Executive Rick Parry is to leave his post at the end of the season, after 12 years with the club. His departure - "by mutual consent" - was confirmed today on the Reds' website. The 54-year-old will stay on until the end of the season to ensure a "smooth transition" can take place.
Liverpool Confirms Parry Will Depart Club
Liverpool FC Chief Executive Rick Parry is to leave his post at the end of the season, after 12 years with the club. His departure - "by mutual consent" - was confirmed today on the Reds' website. The 54-year-old will stay on until the end of the season to ensure a "smooth transition" can take place.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
