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    Premier League approves Liverpool takeover plan

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    ODN

    by ODN

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    New England Sports Ventures has won approval by the Premier League to continue its proposed takeover of Liverpool.


    The Premier League said in a statement: "The Premier League is satisfied, with the information provided, that the individuals NESV intend to put in place in the event they complete their takeover of Liverpool FC meet the criteria set out in our Owners' and Directors' Test."


    The decision paves the way for John W Henry, owner of the Boston Red Sox baseball team, to continue with a deal to buy the Reds.


    Liverpool's board said on Wednesday they had accepted a £300 million offer from NESV but the deal is being complicated because of a legal challenge by current owners Tom Hicks and George Gillett.


    Liverpool owe about £237 million, mainly to Royal Bank of Scotland, and the bank could put Hicks and Gillett's company Kop Holdings into administration if the Americans continue to block the takeover and fail to pay their debts to the bank by October 15.


    Liverpool would be at risk of a nine-point deduction if the owners' holding company is put into administration, it has emerged.