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Football: NESV Clear to Buy Liverpool FC

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The saga of the New England Sports Ventures (NESV) purchase of Liverpool Football Club looks set to conclude in the near future as this morning a restraining order – placed upon the proposed purchase by current co-owners Tom Hicks and George Gilet – was lifted.

The decision means that the Barclays Premier League club may now be transferred in a deal believed to be in the region of £300 million, and, in doing so, clear a £230 million+ debt to RBS, who had threatened the club with point-haemorrhaging administration.

Speaking for the co-owners, lawyer Steve Stodghill told that those involved with the transfer should expect legal recourse, however:

“This outcome not only devalues the club but it also will result in long-term uncertainty for the fans, players and everyone who loves this sport because all legal recourses will be pursued.”

The announcement hints at what has been a sticking-point for Hicks and Gilet throughout: that they believe the club to be worth far more than the £300 million offered by NESV.

At this price, Hicks and Gilet stand to lose around £140 million personally following their 2007 purchase of Liverpool FC for £174 million.

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Stories from the Sport Desk at The Global Herald.

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