Red Sox buy Liverpool

Liverpool’s prospective new owner
has vowed to clear the Premier League club’s debts when it takes over.

New England Sports Ventures (NESV)
issued a statement saying it would move “all acquisition debt” away
from the club if the $418 million bid succeeds.

NESV – owners of the Boston Red Sox
baseball team – confirmed its bid has been accepted by Liverpool’s board.

But Reds’ American owners Tom Hicks
and George Gillett are trying to block the sale which they say undervalues the

Hicks and Gillett are trying to
replace Liverpool’s managing director Christian Purslow and commercial director
Ian Ayre with Hicks’ son Mack and a business associate Lori Kay McCutcheon.

Purslow, Ayre and Chairman Martin
Broughton are now consulting lawyers over whether they can resist the owners’
attempts to replace them and force through a sale to the American consortium.

Its statement added: “NESV
wants to create a long-term financially solid foundation for Liverpool FC and
is dedicated to ensuring that the club has the resources to build for the
future, including the removal of all acquisition debt.

“Our objective is to stabilise
the club and ultimately return Liverpool FC to its rightful place in English
and European football, successfully competing for and winning trophies.

“Since 2001, New England
Sports Ventures has made successful investments in sports and entertainment

“Our portfolio of companies –
including the Boston Red Sox and Fenway Park, New England Sports Network,
Fenway Sports Group and Roush Fenway Racing – are all committed to one common
goal: winning.

The Premier League expects the
hurdles for the takeover bid to be cleared this week.

NESV is thought to be offering
about $418 Million for the club, enough to pay back the 4334 million of loans
and $55 million of fees owed to Royal Bank of Scotland, which must be settled
by 15 October else a penalty fee of $83 million will be due.

Hicks and Gillett are believed to
value the club at $836 million.

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