Liverpool set for High Court battle

(GSM) – Liverpool are set for a High Court hearing into the proposed takeover of the club on Tuesday morning.

The ownership issue, which dominated the headlines in the last week, is set for a productive conclusion by the end of this week.

Her Majesty’s Court Service has confirmed that the ongoing ownership battle at the Merseyside club resume on unfamiliar grounds on Tuesday morning at 10.30am.

Liverpool have agreed a sale to New England Sports Ventures, but the deal is being opposed by current co-owners Tom Hicks and George Gillett.

The American duo are disputing the fact that Reds chairman Martin Broughton did not have the power to accept the offer from NESV against their wishes.

The row centres on whether Liverpool’s board had the power to accept an offer from NESV.

However, Broughton insists he had the right to sell the club to NESV as Hicks and Gillett had signed agreements not to oppose the sale when they received an extension to their refinancing deal with Royal Bank of Scotland earlier this year.

The Premier League is understood to be ready to approve the sale and, if the NESV deal goes through, Hicks and Gillett stand to lose a total of £144million.

It is feared, however, if Hicks and Gillett win the High Court battle, that Liverpool could be placed into administration and docked nine points if RBS decide to call in the £237m acquisition debt owed, due for payment in full on Friday 15th October.