By Nick Harris
6 October 2010
Liverpool’s board has announced this morning that it has agreed to sell the club to New England Sports Ventures, the parent company of the Boston Red Sox whose major stakeholders include John W Henry, Tom Werner, and the New York Times Company.
The sale is conditional on Premier League approval (which won’t be a problem), and the resolution of the acrimonious legal dispute between the board and the club’s owners, Tom Hicks and George Gillett.
A Press Association profile on Henry at The Guardian is linked here.
The vital question now is whether the independent board members can win their legal battle to remain on the board, win the vote in favour of NESV, and oust Hicks and Gillett. Developments are expected throughout the day.
Statement today from LFC
Board agree proposed sale
Liverpool Football Club today announces that the Board has agreed the sale of the Club to New England Sports Ventures (NESV).
New England Sports Ventures currently owns a portfolio of companies including the Boston Red Sox, New England Sports Network, Fenway Sports Group and Rousch Fenway Racing.
Martin Broughton, Liverpool FC Chairman, said: “I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive. 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.
“We’ve met them in Boston, London and Liverpool over several weeks and I am immensely impressed with what they have achieved and with their vision for Liverpool Football Club.
“By removing the burden of acquisition debt, this offer allows us to focus on investment in the team. I am only disappointed that 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.”
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