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Liverpool back to High Court
Posted By Cody Maxwell On Oct 14 2010 @ 8:50 pm In English EPL | No Comments
How many times is Liverpool going to head to High Court? The Reds were close to being sold to NESV (New England Sports Venture which owns the Red Sox) after the current very unpopular co-owners Tom Hicks and George Gillett Jr failed to win back control of the club.
The sale was halted as Hicks and Gillett were granted an injunction by a Texas court. While the team is in serious debt and the sale would appear to be best for the Reds, the current American owners have dumped mud into the water.
Why are they doing this? According to Liverpool this was not how they said they’d react. Hicks and Gillett believe the £300m sale of Liverpool is under what it should be. However the bid by NESV would cover the debt that Liverpool is currently in and give the team a chance at a fresh start.
Hicks and Gillett claim that rival bids were not given due consideration. However one of the major possible buyers, Peter Lim, has already backed out. Lim’s statement said: “The [Liverpool] board is intent on selling the club to NESV to the exclusion of all other parties, regardless of the merits of their bids.” So perhaps Hicks and Gillett have a point? Although the way they’re going about it isn’t exactly all that friendly.
From an outsiders perspective, it appears the current American owners are so worried about the money that they really don’t care what happens to Liverpool. The basics of it, as representing RBS in the High Court, Richard Snowden QC said: “The proceedings in Texas are plainly inappropriate, this dispute involves an English football club and three English companies and has no connection with Texas other than that Hicks and Gillett may reside there.”
We hope the pain of this situation doesn’t loom over the club … which is currently 18th in the Premier league.
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