Football

Liverpool attack 'damaging' order

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Liverpool's directors have resolved to sell the club to New England Sports Ventures (NESV), but must first overcome a restraining order they believe to be "unwarranted and damaging".

Having earlier won a resounding victory in the High Court, where Mr Justice Floyd ruled current owners George Gillett and Tom Hicks did not have the power to reconstitute the board and block its preferred deal going ahead, Liverpool's board met with NESV's John Henry in London.

It had been thought that meeting could end in a finalised sale, but events took a dramatic turn when a Texas District Court reportedly granted a temporary restraining order on the deal going ahead. Now the boards of Kop Football and Kop Holdings accept they must fight to have it removed in order to proceed with NESV.

The statement, which appeared on Liverpool's official website, read: "Following the successful conclusion of High Court proceedings, the boards of directors of Kop Football and Kop Holdings met on Wednesday night and resolved to complete the sale of Liverpool FC to New England Sports Ventures.

"Regrettably, Thomas Hicks and George Gillett have obtained a Temporary Restraining Order from a Texas District Court against the independent directors, Royal Bank of Scotland PLC and NESV to prevent the transaction being completed.

"The independent directors consider the restraining order to be unwarranted and damaging and will move as swiftly as possible to seek to have it removed."

The news of the restraining order came in an incendiary statement posted on the website of American law firm Fish & Richardson, which also claimed damages of USD1.6billion were being sought by Hicks and Gillett.

The lawsuit announced by Fish & Richardson is against Liverpool creditors Royal Bank of Scotland, chairman Martin Broughton, board member Ian Ayre, financial director Philip Nash and NESV and claims Hicks and Gillett are victims of an "epic swindle" and "grand conspiracy".

The NESV agreement, worth £300million, is characterised as a "a scheme to sell LFC to NESV at a price they know to be hundreds of millions of dollars below true market value".

The post went on to claim that RBS would only sign off a deal if it did not provide financial benefits for the outgoing owners.

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Topics:
Football
Premier League
Liverpool

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