Liverpool sold to USA's Boston Red Sox

[ekkl]

Liverpool FC statement
5th Oct 2010 - Latest News
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Liverpool Football Club tonight issued the following press statement:

The Board of Directors have received two excellent financial offers to buy the Club that would repay all its long-term debt. A Board meeting was called today to review these bids and approve a sale. Shortly prior to the meeting, the owners - Tom Hicks and George Gillett - sought to remove Managing Director Christian Purslow and Commercial Director Ian Ayre from the Board, seeking to replace them with Mack Hicks and Lori Kay McCutcheon.

This matter is now subject to legal review and a further announcement will be made in due course.

Meanwhile Martin Broughton, Christian Purslow and Ian Ayre continue to explore every possible route to achieving a sale of the Club at the earliest opportunity.

Author: Liverpool Football Club
Tagged: statement

[russbeer]

Getting the offer(s) is all good for the club but whether those stubborn yank fools actually sell up is another matter.

[ant3b]

Radio1 said they have sold it to red socks baseball team. subject to legal talks

[darkstar]

just what we need more greedy yanks to ruin the club even more

[Thalamus]

out of the frying pan into the fire

[jimbo77]

well lets see if all goes through first and then make a decision on the new owner...not sure what he is worth but WIKI advises it 860m.

all i want to know is how much money is going to be invested in the team, is the stadium gonna be built and will roy keep his job.

[Lighty]

out of the frying pan into the fire

That was my exact same thought mate when i seen sky news banner last night at midnight.

[Bald Bouncer]

Sorry no doubt it's been posted before but I only just saw it

http://www.youtube.com/watch?v=RO55BazkiZ4

[AD]

Premier League - Liverpool agree sale of club
Wed, 06 Oct 07:31:00 2010


Liverpool have agreed the sale of the club to New England Sports Ventures, the owners of Major League Baseball's Boston Red Sox.
Related Links
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Euro Club Index: Liverpool's sinking feeling

The sale is conditional on Premier League approval, resolution of the dispute concerning board membership and other matters, according to a Liverpool statement - with current owners Tom Hicks and George Gillett likely to start a legal challenge to stop the sale.
"I am delighted that we have been able to successfully conclude the sale process, which has been thorough and extensive," Liverpool Chairman Martin Broughton said in a statement on the club's website.
"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."
Liverpool's current American owners, Tom Hicks and George Gillett bought the Merseyside club in February 2007 for £218.9 million.
They instructed Barclays Capital in April to find a buyer and appointed British Airways Chairman Broughton to oversee the sale.
Broughton said he was disappointed the owners had tried to stop the deal.
"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," Broughton added.
The five-times European champions owe £237 million to their major creditors Royal Bank of Scotland, which has set a deadline of October 15 for the debt to be refinanced and Broughton said the agreement removed the burden of acquisition debt.


Reuters

Source: http://uk.eurosport.yahoo.com/061020...sale-club.html

-=AD=-

[ekkl]

Yanks out. Yanks in. Yanks a lot.

[Raptor]

Yep, Just seen this on the news over here. Fuck me if you thought Gillette and Hicks were bad lol.....

Sent from my Epic 4G using Android Tapatalk

[Nibb]

Information

Liverpool to be bought by Boston Red Sox owners


Liverpool are currently in the Premier League relegation places

By Dan Roan BBC sports news correspondent

Liverpool are to be sold to the owners of the Boston Red Sox baseball team.

But the takeover by the New England Sports Ventures (NESV) is subject to the resolution of a legal dispute with US owners Tom Hicks and George Gillett.
The Premier League, who have refused to comment at this stage, will also have to approve the latest American buyout.

Earlier Hicks and Gillett tried to sack managing director Christian Purslow and commercial director Ian Ayre in a last-ditch bid to keep control of the club.
In an attempt to block any sale and regain control of the crisis-hit club, Liverpool's much criticised owners tried to replace Purslow and Ayre with Hicks's son, Mack Hicks, and Lori Kay McCutcheon, a vice president at Hicks Holdings.

Hicks and Gillett are understood to have argued that the club's English directors were not acting in the best interests of Liverpool and that the NESV bid - as well another undisclosed offer from Asia - "dramatically undervalued the club".
Purslow, Ayre and chairman Martin Broughton are now consulting lawyers over whether they can resist the owners' attempts to replace them and force through a sale.
"I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive," said Broughton.
"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."

NESV currently owns a portfolio of companies including the Boston Red Sox, New England Sports Network, Fenway Sports Group and Rousch Fenway Racing.

They are partly owned by futures and foreign exchange trading advisor John W. Henry who has an estimated fortune of £540m.
Henry, 61, made his fortune in hedge funds, but has used it to indulge his sporting interests, most famously with the Boston Red Sox baseball team, but also in the NASCAR motorsport series.

The self-made multi-millionaire from Illinois does not have the serious money of the Premier League's wealthiest owners but he does have an excellent track record of success with his teams.

After owning a number of minor league teams, and briefly controlling the Florida Marlins, Henry and his partners in New England Sports Ventures, Tom Werner and the New York Times Company, bought the Red Sox in 2002.
Within two years of Henry's acquisition their 86-year wait to win the World Series title came to an end. Three years later, they won the title again.
NESV are thought to be offering about £300m for the club, enough to pay back the £240m of loans and £40m of fees owed to Royal Bank of Scotland, which must be settled at the end of next week.
However, this valuation falls well short of the £600m that Hicks and Gillett are thought to want for the club, hence their opposition.

Liverpool were put up for sale by Hicks and Gillett in April with debts of £351.4m.
They initially sought an asking price of about £800m, a figure they subsequently dropped to £600m.
In August, there were abortive bids from Hong Kong businessman Kenny Huang while a consortium fronted by Syrian businessman Yahya Kirdi also expressed an interest.

The owners paid £174.1m to buy the club in 2007, while also agreeing to take on the club's debt of £44.8m.
Many fans have become increasingly outraged at the pair's ownership of the club, which is said to be currently £237.4m in debt, and their failure to carry through promises to build a new stadium.

The Royal Bank of Scotland (RBS) has set a deadline of 15 October for that debt to be repaid or a penalty fee of £60m will be due.
The bank has the option of extending the deadline once again, or calling it in, taking control and then selling the club to the highest bidder.

Liverpool's troubles off the pitch have coincided with the Anfield club making their worst start to a league campaign since 1953-54, when they were relegated. The Reds are currently wallowing in 18th place in the Premier League.

http://news.bbc.co.uk/sport1/hi/foot...ol/9064599.stm

[Garny]

Just seen this on the news over here. Fuck me if you thought Gillette and Hicks were bad lol.....

Sent from my Epic 4G using Android Tapatalk

http://www.guardian.co.uk/football/2...iverpool-owner

Dont get your point at all ??? no one could be as bad as them two cnuts but I suppose time will tell if you are right or just being a manc liverpool hater

[russbeer]

Of course they could be worse than hicks and gillette! Thats like saying Hicks and Gillette were worse than Hitler! There's always someone whos a bigger cunt!

From what some people who follow baseball tell me, it could be a case of the lesser of 2 evils with the Red Sox. Its like going from H&G to Glazer!

[HELPERS]

the first thing they will do is replace all them McDonald in the Kop with hamburgers and hot dogs and popcorn

Liverpool love the USA and there cash lol

[Raptor]

Of course they could be worse than hicks and gillette! Thats like saying Hicks and Gillette were worse than Hitler! There's always someone whos a bigger cunt!

From what some people who follow baseball tell me, it could be a case of the lesser of 2 evils with the Red Sox. Its like going from H&G to Glazer!

the Red Sox owners and management are cunts m8 - and trust me they will not give a fuck about Liverpool - they are only interested in fucking over Gillette and Hicks - its all about a quick deal - the guy is a hedge fund manager ffs and he has dicked over the fans at every team he has touched - dont believe the press ffs - they are all paid off with perks. The only reason the Sox won the World Series after the Babe Ruth Curse was cus the Yankees were shit that year.

I will say tho that i'd be happy if this deal went through just to fuck over Gillet and Hicks - they are cunts of the highest order BUT cannot be blamed for Liverpools poor performance - that lies with the management and players.

[Raptor]

http://www.guardian.co.uk/football/2...iverpool-owner

Dont get your point at all ??? no one could be as bad as them two cnuts but I suppose time will tell if you are right or just being a manc liverpool hater

I live in America and I goto Red Sox games quite often, especially when they play the Nationals (I live near Washington). This means I have a clue

[HELPERS]

I live in America and I goto Red Sox games quite often, especially when they play the Nationals (I live near Washington). This means I have a clue.

Yeah that told em

wise up and listen when the master talks or you will have egg on your face again lol

[russbeer]

Is there a smiley icon for brown-nosing Helpers?

[Raptor]

Is there a smiley icon for brown-nosing Helpers?

he's right though