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.