Liverpool Back In Court as Ownership Saga Drags On

Photo: Michal Dubrawski

Liverpool Football Club will find itself back in the High Court today after current owners blocked their latest attempts at a sale.

As the battle for the clubs future continues, The Reds were taking further steps towards a sale to New England Sports Ventures after co-owners Tom Hicks and George Gillett failed to win back control of the club.

However, the process has been dramatically halted after Hicks and Gillett were granted an injunction by a court in Texas.

Now the Liverpool board will head to the Royal Courts of Justice again in a bid to overturn that decision.

With the club in dire need of sale due to approaching loan repayment deadlines, the worry is not only with the ownership long term but the possibility of administration and an immediate deduction of nine points. The Royal Bank of Scotland are the club’s main creditor, owed £200m in loans, and has set a deadline of 15th October for repayment.

Both Hicks and Gillett believe the side is undervalued at it’s current selling price, and their claims carry further weight considering the improved offers for the club since NESV’s original offer was accepted. The bid sees the owners losing £140m from their original investment.

3 comments

  1. UPDATE: Peter Lim “not able to proceed with intention to acquire club after “ignored” by board.

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