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Liverpool agree to sell club to New England Sports Ventures

| 06.10.2010

Liverpool have agreed to sell the clubl to New England Sports Ventures, but George Gillett and Tom Hicks have vowed to “resist any attempt to sell the club without due process or agreement.

The American owners are under pressure from Royal Bank of Scotland to pay off the £282m debt that they currently owe, with a deadline coming up on Friday October 15th when RBS can call in a £60m penalty fee.

In a last bitch attempt to keep control of the club, Gillett and Hicks tried to sack managing director Christian Purslow and commercial director Ian Ayre.

The two Americans believe the club’s directors are not acting in Liverpool’s best interests and believe that the bid they’ve accepted undervalues the club.

The two Americans have not given their consent to push the deal through as the current offer means Gillett and Hicks won’t see any return on their initial investment, gaining just what they put in when they brought the club in 2007.

If the deal is to go through, it’s subject to the resolution of a legal dispute with the current owners and the Premier League would also have to approve the American buy-out.

The fight is likely to go until the October 15th deadline with a quick resolution highly unlikely.

New England Sports Ventures are owned by John W Henry and they own a portfolio of companies including Boston Red Sox, New England Sports Network, and a Nascar racing team, Rousch Fenway Racing.

The deal would wipe out Liverpool’s debt and the club say it would allow Roy Hodgson to be active in the transfer market and Liverpool fans will be hopeful the news will turn around their season as they are currently 14/1 to be relegated.

Hicks and Gillett won’t let the club leave without a battle but time is running out for the owners. See the full Barclays Premier League betting odds market here.



Ed Needham