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)