Boston Red Sox shareholders set to buy Liverpool

by  |  earlier

0 LIKES UnLike

Boston Red Sox owners set to buy Liverpool
Liverpool Football Club is set to be sold to New England Sports Ventures (NESV), the owner of Major League Baseball team Boston Red Sox.
Martin Broughton, chairman of the English Premier League club, revealed the news on Wednesday, October 6.
He told Liverpool’s official website that, "I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive. 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."
But Hicks and Gillett are set to formally oppose the sale. The American duo are said to be unhappy with NESV’s reported offer of around £300m — which would be enough to clear £240m of loan debt as well as £40m in fees to the club’s largest creditor, Royal
Bank of Scotland.
If the payment due to the bank is not settled by October 15, a penalty of £60m will be incurred by the club. Despite the willingness of the rest of the board members to accept NESV’s offer, Hicks and Gillett, who were demanding £600m for the club, have said
that they will "resist any attempt to sell the club without due process or agreement" from them.



Question Stats

Latest activity: earlier.
This question has 0 answers.


Share your knowledge and help people by answering questions.