Do you want to remove all your recent searches?

All recent searches will be deleted

Like
Watch later
Share
Add to

Reds sold but former owners refuse to go quietly

8 years ago154 views

ODN

ODN


Liverpool were finally sold to New England Sports Ventures but the threat of legal action from former owners Tom Hicks and George Gillett remains.

The now-departed two Americans withdrew their £1billion lawsuit, claiming an "epic swindle" and lodged in Dallas, at the behest of the High Court.

However, they are currently consulting with counsel over a plan to return to the Royal Courts of Justice in London as they do not believe they received a fair hearing when Mr Justice Floyd ruled against them in their attempts to block the sale.

They may also try to sue the Royal Bank of Scotland and Liverpool's independent directors chairman Martin Broughton, managing director Christian Purslow and commercial director Ian Ayre.

It represents the final attempt by the unpopular former owners to claw back some financial recompense from the process as the £300million sale to NESV is believed to have personally cost them £144million.

Hicks claimed in a Sky Sports News interview the club had been taken away from its owners in an "organised conspiracy".

Meanwhile the head of NESV, John W Henry, who also owns the Boston Red Sox baseball franchise, was assessing his new acquisition.

At least Liverpool can look forward to a virtually debt-free future after the NESV takeover wiped out all the loans and costs associated with the purchase of the club three-and-a-half years ago by Hicks and Gillett.

A result of those loans was the crippling interest payments of £40million a year - which are now a thing of the past.

Report this video

Select an issue

Embed video

Reds sold but former owners refuse to go quietly
Autoplay
<iframe frameborder="0" width="480" height="270" src="//www.dailymotion.com/embed/video/xf84y2" allowfullscreen allow="autoplay"></iframe>
Add this video to your site using the above embed code