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NewsLiverpool ownership battle judgement expected on Wednesday

Liverpool ownership battle judgement expected on Wednesday

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By Nick Harris

12 October 2010

A ruling on whether Martin Broughton and his “independent” Liverpool board colleagues were entitled to agree a sale of the club last week to New England Sports Ventures is expected tomorrow by Mr Justice Floyd following a day of High Court twists and turns in London.

A blow-by-blow account of events as they unfolded today can be seen over at The Guardian link here. (In a development that attests once more to the power of social networking, numerous journalists were filing frequent updates by Twitter as the hearing progressed.)

The day’s essential developments were:

  • RBS and Liverpool’s QCs argued Broughton was within his rights to sell the club to NESV.
  • Tom Hicks and George Gillett’s QC said “Ok, sort of, but you didn’t get the best price”.
  • It was confirmed that Peter Lim was one alternative bidder. (Lim lobbed another variable into the pot with an updated bid earlier today. This bid includes a public promise of a £40m January transfer kitty, surely evidence in itself that Lim has much to learn about running a sports club. See Carson Yeung for previous example of the stupidity of the £40m January promise.)
  • It was also revealed Mill Financial, who now effectively own George Gillett’s chunk of Liverpool, bid for the club, or rather wanted to bid, claiming £100m “starter funds” towards a new stadium as part of the deal.

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2013-05-28 11:34:43