NESV complete Liverpool takeover

(GSM) – New England Sports Ventures (NESV) have announced the takeover of Liverpool following a court-battling transfer saga.

Following former owners’ Tom Hicks and George Gillett’s removal of the temporary restraining order blocking the £300m sale early in the day, NESV have now made the announcement.

“I am proud and humbled,” said NESV head John W Henry. “I can’t tell you how happy I am. We’re here to win.”

A club statement said: “The transaction values the club at £300m and eliminates all of the acquisition debt placed on LFC by its previous owners, reducing the club’s debt servicing obligations from £25m-£30m a year to £2m-£3m.”

This means Liverpool’s holding company will now unlikely be put into administration, a move which could have resulted in a nine-point penalty in the Premier League.

Henry, who arrived at the offices of Slaughter and May early in the day, added: “We’re going to do a lot of listening, we have a lot to learn, and we’ll walk this path together [with the fans].

“We regard our role as that of stewards for the club with a primary focus on returning the club to greatness on and off the field for the long-term.

“We are committed first and foremost to winning. We have a history of winning, and today we want Liverpool supporters to know that this approach is what we intend to bring to this great club.”

Chairman Martin Broughton – who revealed he would fulfill “a transitional role while John works out how to run the club” in the foreseeable future – added in a statement: “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 offer on the basis that it best met the criteria we set out originally for a new owner. NESV is buying Liverpool in order to put it on an excellent financial footing and continue to develop it internationally.

“This is a good deal which comprehensively resolves the pressing issue of the club’s debt and should give staff, players and fans great confidence regarding the future of Liverpool FC.”