Tug of war: The chaotic sale of Liverpool will be laid bare in court on Tuesday
Liverpool's chaotic situation will be laid bare in the High Court on Tuesday - with a Singapore-based billionaire who made his money partly through Manchester United theme bars waiting in the wings.
Lawyers for owners Tom Hicks and George Gillett will argue chairman Martin Broughton did not have the power to accept a £300million bid from New England Sports Ventures.
If they lose, they will claim Broughton acted wrongly in agreeing to sell the club to the company controlled by Boston Red Sox owner John W Henry.
And in a new twist, tycoon Peter Lim claimed he is ready with £300m of his own if the judge rules in favour of Hicks and Gillett.
Lim thought he was close to winning control last week before Broughton chose New England as the preferred bidder after being brought to the table by Liverpool commercial director Ian Ayre.
Sources claim he was told his was the better offer, only to receive a text last Tuesdy to say he had missed out, with no explanation.
Lim is prepared to write off £200m of club debts and inject £40m in cash, something he can do without borrowing a penny.
Cigar Guy: Henry may not be the saviour that the fans think
It was all looking so good. Tom Hicks and George Gillett were being hustled to the exit, Liverpool fans were changing their 'Yanks Out' banners to 'Yanks In' after some nifty needlework. There was talk of money, of revival, of new hope. Then we saw the cigar.
John W Henry, the supposedly shy, understated American 'saviour' of Anfield was pictured with what appeared to be a mahogany chair leg poking out of his mouth. The caption claimed this was actually a stogie of some sort, not a dismembered item of furniture, but I still have my doubts that anyone can wave this much tobacco around in public without contravening some Customs law relating to personal use.
Having had their fill of yee-haw blowhards, Anfield had wanted a sober billionaire. But from this image it seemed they had landed another Cigar Guy; a smug, Wall Street share-trader armed with precisely the kind of 'financial expertise' they did not want. An oversized cigar is always a giveaway.
'A fire at one end and a fool at the other,' is how these smokes are defined. And although Henry is unlikely to be classified as a fool in the immediate future (give it a season), there has barely been a cigar smoker worth a spit since Sir Winston Churchill.
In fact, if I may generalise for a moment here since it saves time, I find cigar smokers are inconsiderate, puffed-up jerks that light their clumps of saliva-soaked weed entirely oblivious to the fact that the noxious cloud they produce smells as if they have set their pubic hair on fire. Cough.
Anyway, back to Mr Henry. Is this cheroot chomper really the character who is going to pander to those Liverpool fans that cry their club is 'not a business, but a way of life' at every protest march and street demonstration? I suspect not.
Right now Henry's main selling point is that he is most definitely not Hicks or Gillett, which is a recommendation in itself. But it is not enough. Liverpool's chairman Martin Broughton has certainly been happy to kick the tyres of his new American ride and say 'we'll take it', without elaborating greatly on whether he has poked around under the bonnet.
But because of his endorsement and some novelty value, Henry has received a fairly adoring press so far, which is hardly surprising since most of us had never heard of the bloke until this week. And so snippets from Wikipedia (see paragraphs 12, 16 and 18) were woven into some friendly spin pushed by 'insiders' at Liverpool.
This was accompanied by some risible PR guff. We heard how the 61-year-old wooed his rather pretty wife, 30 years his junior, with a succession of yacht and helicopter trips and romantic European getaways. Really? I'd say he probably had her at, 'Hello - I'm worth £600million'.
These soft-focus portraits were designed to show Henry as a 'caring entrepreneur', a besotted Anfield suitor ready to lavish just as much love and cash on his new club.
Yet Henry's history shows something entirely different. He is one of the world's great sporting magpies. And he will be just as determined to cash in on his cunning plan as Hicks and Gillett were on the day they rolled into Merseyside wearing red and white scarves.
Henry is not buying Liverpool because of a deep-rooted love of football. He doesn't deal in sentiment. In fact his commodity trading business boasts of making 'mechanical decisions' that 'lock out human emotions'. That doesn't sound like a teary rendition of You'll Never Walk Alone, does it?
He swooped on Liverpool because the club is desperately weak, both on and off the pitch. A series of potential suitors from Dubai to China have decided to turn their backs, so Anfield has essentially been there for the taking by anyone with the money to gamble on making a fast buck.
Dave Checketts, the owner of American MLS champions Real Salt Lake, had it right. He said: 'Most American owners see the Premier League as a chance to multiply their wealth. They understand the passion that exists for football here but see it strictly as an opportunity to invest in - and then exit from.' Quite.
Henry previously tried to buy the Orlando Magic, Miami Heat and the New Jersey Nets basketball teams. He had a stake in the New York Yankees baseball franchise, fronted the investment for the Colorado Rockies, then bought the Florida Marlins and dropped them to buy the Boston Red Sox. He also bought a NASCAR motor racing team, possibly to ensure he is always ready to make a quick getaway from these deals with the loot. So we can see where his loyalties lie - his wallet.
Henry is not buying Liverpool with the same motives as Roman Abramovich at Chelsea or Sheik Mansour at Manchester City. These billionaires have used their clubs as hugely expensive vanity projects. For Henry and Co, it is just another commodity deal.
The question is will this enable Liverpool to compete? Although his business is money, he is not a billionaire himself. He trails in behind the big hitters of the Premier League. To put his £600m into perspective, Henry has about half the wealth of Aston Villa's American owner Randy Lerner. In fact, there are a dozen billionaires in the Premier League with more financial clout.
But Henry will finance the Anfield deal through fellow investors at his company, New England Sports Ventures. Nobody is yet sure if they have the capability or even the collective will to be the generous Sugar Daddies some Liverpool supporters are hoping for. But right now the majority of fans would settle for honesty, stability and signs of a gradual improvement.
For his part, Henry says he will cover the debts, has made no decision on building a new stadium and is pledging 'an unspecified amount' on transfers, which Broughton describes as 'sensible'. None of it would inspire much more than a weary sigh on Merseyside were it not for the fact that Hicks and Gillett were being kicked out, barring late legal shenanigans.
But the amounts involved and financial logic point to Henry arranging some kind of leveraged buy-out of the club, a situation that may eventually prove to be somewhat similar to the one Liverpool are in right now if there is another economic slump. New owners, different bank loans, same story a couple of years down the line.
Of course it could all work wonderfully. As everyone knows, this has to be a better situation than being run by two feuding bunglers plagued with debt. Henry is also clearly astute and understands American sport. But is he the owner who can put Liverpool back at the top of the English game? Right now, I'd say it might be a case of close, but no cigar.
Big day: Martin Broughton arrives
Improved offer: Peter Lim wants to buy Liverpool
The Liverpool takeover struggle has taken another dramatic twist as Peter Lim raised his offer for the crisis club to £320million on the day the High Court showdown kicked off.
The club's major creditors Royal Bank of Scotland are taking on current owners Tom Hicks and George Gillett in court today, where they have been accused of 'breathtaking arrogance' over their attempts to change the structure of the board.
But the drama in the court is now threatened to be overshadowed by Lim's improved offer, which is bigger than that of prospective owner John W Henry. His company New England Sports Ventures had a £300m offer accepted last week against the wishes of Hicks and Gillett.
Singapore businessman Lim's cash-only offer - made to Liverpool chairman Martin Broughton - is £320m, with a further £40m promised for player transfers. Lim claims his deal will remove the £200m debts taken on by the existing owners.
In a statement, Lim said: 'I respect and admire Liverpool Football Club, which is steeped in tradition and history. I am committed to rebuild the club so that it can soon regain its position at the pinnacle of English and European football, where it truly belongs.
'This is why I have stepped forward with this offer. I believe that if its massive debt burden can be removed, the club would be able to focus on improving its performance on the pitch.
'My offer pays off the existing owners’ bank acquisition debt and also frees the club of its own bank debt. If the board accepts this offer, the monies are available immediately thereby removing the threat of administration.
'The club needs to strengthen its existing squad. As part of this offer, I will be injecting £40m in cash into the club for Roy Hodgson to bring in new players during the upcoming transfer window. Liverpool needs to start winning again!
'My offer provides a firm financial platform from which the club can rebuild. Given the manner in which the sale process has been handled, I feel Martin and the board owe it to me, to the club, and to the supporters, to consider my offer.'
Liverpool's major creditors - the Royal Bank of Scotland - are seeking High Court confirmation that Hicks and Gillett are in breach of contract and not in a position to block a sale.
The bank secured an injunction on Friday to prevent the Americans sacking independent chairman Broughton, managing director Christian Purslow and commercial director Iain Ayre..
They returned to court today attempting to remove the final stumbling block to a £300m takeover by New England Sports Ventures (NESV) which will see them recoup their original £237m loan to Hicks and Gillett when they bought the club in March 2007.
When the case got underway just before 11.30am, RBS accused Hicks and Gillett of trying to change the running of the club to 'frustrate' its sale this Friday.
Richard Snowden QC, representing RBS, told Mr Justice Floyd that the American owners now admitted 'a calculated breach of contract' by seeking to change the constitution of the companies and the boards involved without the consent of the bank.
He said this was in order 'to frustrate the sale necessary to repay the bank £200m by this Friday'.
The bank secured an injunction on Friday to prevent the Americans sacking independent chairman Martin Broughton or any other board members.
Anger: A group of Liverpool supporters gather outside the High Court
Mr Snowden said Mr Hicks filed evidence that if RBS did not like what he was doing, then it could enforce its security rights.
'This would derail the carefully planned process designed to achieve a sale of the club in a timely manner.'
He said that plan would not carry the risk of Liverpool losing the nine points deducted by the Premier League when a team goes into administration.
The judge was asked to impose injunctions on the owners requiring them to restore the original constitutions of the companies and managing directors.
This would remove the final stumbling block to a £300 million takeover by New England Sports Ventures (NESV), which will see the RBS recoup its original £237 million loan to Mr Hicks and Mr Gillett when they bought the club in March 2007.
Mr Snowden said evidence filed to the court showed 'breathtaking arrogance on the part of Mr Hicks and Mr Gillett'.
Both admitted their actions were a breach of contact, and Mr Hicks apparently took it upon himself to think RBS 'would not be prejudiced because it would not make the position any worse'.
Paul Girolami QC, representing the American owners, said his clients 'were not trying to throw a spanner in the works' of the proposed sale deal.
Support: Fans stand outside the courthouse on the opening day
He said there had been other offers for the club which potentially were better than the one from NESV.
Opposing an immediate injunction, he said all the issues involved needed more time to determine and 'should not be rushed into'.
'What has happened is that the English directors have gone forward with the NESV bid without properly considering alternatives when those alternatives at least appear to give better prospects.'
Mr Justice Floyd is expected to give a ruling this afternoon.
Broughton and Purslow arrived at the court just before 10.30am today, while fans sang the famous Kop anthem You'll Never Walk Alone outside on the Strand in London.
Liverpool fans gathered outside the High Court in protest
The High Court has ruled in favour of Royal Bank of Scotland and against co-owners Tom Hicks and George Gillett in the case that will be decisive in determining Liverpool's future.
The decision will be welcomed by Liverpool supporters as it paves the way for the takeover agreed by the Liverpool board with New England Sports Ventures to go through as planned.
It is unclear at present whether Hicks and Gillett will appeal against the decision.
More to follow
can anyone post up the article where the 2 jokers got a Temporary restraining Order?
John W Henry swept into London last night to seal his £300million deal to buy Liverpool — only to be pitched into a £1billion legal battle with co-owners Tom Hicks and George Gillett.
Henry joined the English members of the club’s board at a meeting in the City to hurry through the takeover. It came after the High Court ruled that Hicks and Gillett had breached the terms of their financing with the Royal Bank of Scotland by seeking to change the board last week.
But in a peculiar twist just before 10pm, Gillett and Hicks released a statement claiming a Texas State District Court ‘has granted a temporary restraining order’ preventing the board from selling the club to Henry, with a hearing set for October 25.
They also revealed their intention to sue the three Liverpool board members, chairman Martin Broughton, chief executive Christian Purslow and commercial director Ian Ayre, the bank controlling the club’s debt and Henry’s company, New England Sports Ventures, for a total of $1.6billion (£1bn) in damages.
The duo called the attempt to sell the club to NESV an ‘epic swindle’ and a ‘grand conspiracy’ and claimed the offer was ‘hundreds of millions of dollars below true market value’.
Late last night, Liverpool put out a statement saying they feel the restraining order has no jurisdiction following their victory in the High Court.
However, it will take time to resolve the issue. The club’s lawyers will now have to go back through the High Court and the district court in Texas to prove that the order is invalid.
The restraining order was served at 8.25pm last night, five minutes before the board meeting was due to start, and was then followed by the Americans making a conference call to confirm their actions.
The behaviour mirrored that of last Tuesday, when Hicks and Gillett attempted to disolve the Liverpool board minutes before a crucial board meeting to discuss NESV’s proposed takeover.
After the meeting came to a close at around midnight, a Liverpool spokesman confirmed it was likely to reconvene this morning.
Earlier, it was a huge surprise when Henry, owner of NESV and the Boston Red Sox, arrived to join the gathering shortly before 8pm.
As the American walked into the offices of Liverpool’s solicitors, Slaughter and May, he was asked how he was feeling and, giving a thumbs-up, said he was ‘very confident’.
Henry had not been in London for the conclusion of yesterday morning’s court case, contributing only a brief Twitter message to congratulate Broughton, Purslow and Ayre on winning the case, along with the club’s creditors RBS.
The day of drama started with High Court judge Mr Justice Floyd granting RBS an injunction to prevent Hicks and Gillett from throwing Broughton, Purslow and Ayre off the board.
The American co-owners had been expected to contribute via a conference call as the three English directors attempted to rubber-stamp an agreement reached with Henry’s NESV Group last week.
Asian businessman Peter Lim’s offer of £360m for the club now appears to be doomed.
Sorry lah, But this one only for the latest or breaking news related to the court case mah...
Pure delight: Liverpool chairman Martin Broughton was greeted by jubilant fans (above) and the media (below) as he emerged from the High Court
Liverpool directors have responded to Tom Hicks and George Gillett's decision to acquire a court injuction preventing the sale of the club by stating their intention to contest the ruling.
The directors issued the statement on the club's official website following the announcement by Hicks and Gillett.
"Regretably, Thomas Hicks and George Gillett have tonight 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."
A statement from Tom Hicks’ advisors confirmed the injunction after it was revealed that John W. Henry was present at a Liverpool board meeting in London.
“The owners of Liverpool Football Club today reported that a Texas State District Court has granted a temporary restraining order (TRO) enjoining the Board of Liverpool Football Club (LFC) from executing a sale of the Club to New England Sports Ventures (NESV). The court set a hearing date of October 25, 2010.”
The statement also addressed the damages that Hicks and Gillett were seeking, whilst also accusing the defendants of the suit of attempting to ‘swindle’ them by drastically undervaluing the club.
“The lawsuit also seeks temporary and permanent injunctions, and damages totaling approximately $1.6 billion [over £1 billion].
"The suit lays out the defendants' "epic swindle" in which they conspired to devise and execute a scheme to sell LFC to NESV at a price they know to be hundreds of millions of dollars below true market value…”
The statement also confirmed that Hicks and Gillett had received two other offers for the club, both of which are higher than that on offer from NESV, and one of which offered to provide funds for a new stadium.
"On or about October 4, 2010, Mr. Hicks received a letter of interest from a third potential purchaser… offering to purchase Liverpool FC for £375 to £400 million.
"The letter informed Mr. Hicks that the potential purchaser would not need financing, possessed the funds to close the transaction, and intended to build a new stadium for Liverpool FC."
"Additionally, the Plaintiffs learned just days ago about another potential investor that made a similar offer in the £350 to £400 million range that was communicated to Defendant Broughton and another unnamed co-conspirator in late August.
"According to this investor, Mr. Broughton never responded to the offer. Moreover, when the purported sale to NESV was announced, this investor again contacted Mr. Broughton and informed him that the offer, which significantly exceeded the NESV offer, was still on the table. Again, Mr. Broughton brushed this offer aside without further discussion."
just curious, LFC is in UK, texas is in US.. how to co-relate??
Originally posted by dragg:the court should rule such that G & H must sell to the current highest bidder.
however, MB have said that they will sell to the best not necessary the highest bidder....
thanks to thisisanfield.com we got an idea how the hell hicks managed to get the TRO
Hicks Connections to Judge
http://forums.liverpoolfc.tv/showthread.php?t=206515
Roshi98
Kopite
Join Date: Jul 2010
Posts: 213
Judge Jim Jordan - Ties with Hicks
Just thought I'd use the fabulous interwebs to dig up some info on the
amazing Judge Jim Jordan, whose breathtaking arrogance in approving an
injunction from a little known district court in Texas has thrown a
small bit of uncertainty to an otherwise done deal with NESV.
In 2008 the good judge received beaucoup funding for his failed campaign
to win a seat on the Texas Supreme Court (yes, in Texas SC justices are
VOTED into office). One organization caught my eye - K&L Gates LLP.
Why? Because they provided Mr. Jordan with $10K in campaign
contributions. One of the head partners for K&L Gates LLP is one
Vester Hughes. Mr. Hughes shares multiple board seatings at various
organizations with one Tom Hicks.
Examples are:
Dallas Civic Leaders Council
Cooper Institute
Dallas Museum of Art
I'm sure there are more, but this is what I found over the past several minutes.
To my mind, it doesn't take a rocket scientist to see that a couple of
favors are being called in to push this case in Judge Jordan's
direction, perhaps by way of Mr. Hughes on behalf of Mr
To say the US judge is "dirty" is too far cos looking at the papers filed, there are very good valid points that deserve some merits of how this whole case was handled by the RBS, the 3 stooges and to a certain degree Henry...
How the deal was concluded is also suspicious... Like how did Henry came to know Peter Lim's bid amount within a few hours after making a lower bid then increased his to match Lim's? And if the priced isn't important as is the 3 stooges defense now, then why did they need to inform Henry in the first place to match Lim's? Had Peter Lim stayed quiet and accepted he lose the bid, then no one will know this matter right?
Of course now we know Henry increased his bid and the board accepted it immediately without further consideration like if Lim of anyone else out there would increased their offer?
Certainly there are a lot of disparity here... The 3 stooges did their all to block G&H the real owners any chance of getting refinanced and in the process forced them to default on their repayment to RBS...
And also the 3 stooges enriching themselves when this deal is concluded and approved giving themselves fat year end bonuses...
For G&H 28 pages restraining order, you can read it up here...
http://www.guardian.co.uk/football/2010/oct/13/liverpool-sale-texas-court-restraining-order
Defiant: Reds owner Hicks
Just when John W Henry appeared to be finally on the brink of wresting control of Liverpool - Tom Hicks is reportedly trying to scupper the deal by offloading his shares to a US hedge fund.
The High Court yesterday cleared Boston Red Sox owner Henry to proceed with his £300million takeover by telling Anfield owners Hicks and George Gillett to halt their own legal stalling tactics in Texas.
A deadline of 4pm today had been set for the proceedings in Dallas to be quashed before the American duo would be held in contempt of court.
Hicks and Gillett have this morning lifted the restraining order they secured across the pond, meaning a planned new hearing there at 1pm is unlikely to go ahead.
But the move does not automatically mean that Liverpool's sale to Henry's New England Sports Ventures goes through.
In removing the restraining order, Hicks could now do a deal for his 50 per cent share of the club to go to Mill Finance, who already control Gillett's holding.
In such a scenario, Mill would then pay off the £200m debt to the Royal Bank Scotland, appearing to scupper the deal with NESV.
Henry has blasted his adversaries as 'desperate'. NESV believe any such attempt by Hicks would have to be ratified by the Liverpool board and they would be prepared to return to the High Court to have their binding agreement upheld, though it is not clear cut.
Henry said on his Twitter account this morning: 'We have a binding contract. Will fight Mill Hicks Gillett attempt to keep club today. Their last desperate attempt to entrench their regime.'
Time is running out for Hicks with a restraining order on the NESV takeover only in place until lunchtime today.
Today is also the nominal date for RBS to be repaid a sum of £240m in loans plus a further £40m in fees. After today RBS could, if they wanted, put Kop Holdings into administration leaving Liverpool in danger of a nine-point penalty.
NESV believe they have the law on their side - their lawyers won a second successive significant victory yesterday when Mr Justice Floyd granted anti-suit injunctions to nullify decisions taken in the court in Dallas late on Wednesday.
The judge said his mandatory orders were not aimed at the Texas court but Hicks and Gillett to stop them taking further action there.
Outburst: Would-be Anfield owner John W Henry in London on Thursday night
He was scathing in his remarks about the American co-owners' conduct, which he described as 'unconscionable'.
Mill Financial, a hedge fund, now represent the only possible hurdle to NESV.
Liverpool's independent chairman Martin Broughton, who brokered the NESV deal, was positive as he left the offices of their legal team Slaughter and May last night.
'We're nearly there. We've still got to take away the restraining order,' said Broughton, who added he hoped to have a deal in place for Henry to attend Sunday's Merseyside derby at Goodison Park.
'Mr Henry is very committed. My guess is we'll have it done and he'll be there - but we've got to get rid of this order first.'
Keeping a hand on their wallet: Will Hicks and Gillett finally bow to the ruling of the High Court?
Thursday's ruling instructed Tom Hicks and George Gillett to withdraw the injunction they were granted in a Texas court on Wednesday which threatened RBS, NES V and the Liverpool board with a £1bn court case if they bought the club.
If Hicks and Gillett play ball, Liverpool will be sold to NES V. If they ignore the ruling, the High Court can do nothing as they are not in the UK. The deal would be in a stalemate situation as John W Henry could only proceed under the threat of being sued.
The deadline for the debt to be repaid to RBS is Friday at 4pm. If Henry or Mill fail to make a deal, RBS can do one of two things:
1) Most likely extend the deadline until Henry or Mill decide if they are willing to risk buying the club.
2) Put the club into administration and Liverpool will be docked nine points. The club will then be sold to the highest bidder but the price could tumble due to the genuine threat of relegation.
Mill are the hedge fund that took over Gillett’s shares when he failed to pay his debts to them. They made contact with RBS on Thursday about the possibility of buying the debt off the bank, implying two things:
No way back: One thing is for sure, Hicks and Gillett can't return to Anfield
1) That they have — or are in the process of buying — Hicks’ shares too, therefore becoming owners of the club.
2) That they therefore hope to become owner and banker. That way, Liverpool’s debts would be to Mill Financial, not RBS and Friday's deadline to pay the money back and the threat of administration that comes with it could be erased.
Mill could extend the deadline to whenever they want. The reason they have done this is because they can sniff a profit.
They value the club at more than they will have to pay for it and now have as much time as they want to find a buyer who will pay them a higher price than the £300m on the table from NES V.
The chances are that Hicks and Gillett — as well as receiving money from Mill for selling their shares — will receive a percentage of any deal that is done when Mill sell.
From there, Henry and NES V could put in a higher offer, Singapore businessman Peter Lim will likely re-enter the bidding and Chinese tycoon Kenny Huang could also revive his interest.
fuck the yanks.
so how low do they want bring lfc to?
Owner in waiting: John W Henry in central London ahead of completing a deal for Liverpool on Friday
Tom Hicks has dropped a legal bid blocking the sale of Liverpool to Boston Red Sox owner John W Henry.
But Hicks has warned he will continue in a £1billion claim against the club's board, the potential new owners and the Royal Bank of Scotland.
There is now no legal obstacle to Henry's New England Sports Ventures completing their £300million takeover today and ridding the Merseysiders of the regime despised by supporters.
But Hicks and current co-owner George Gillett insist that the deal is 'illegal', an 'epic swindle' and seriously undervalues the club.
Battle: Hicks (left) is not going quietly
Hicks made a last-ditch attempt to do a deal with Mill Financial, the US hedge fund who already control Gillett's 50 per cent of shares, but it proved impossible.
It is also claimed they tried in an 11th-hour bid to pay off debts to the Royal Bank of Scotland and remain in charge, but that the bank rejected the offer.
They said in a statement: 'It's an extraordinary swindle and it will result in exactly the wrong thing for the club and the fans.'
Steve Stodghill, the Texas lawyer representing the duo, said: 'This outcome not only devalues the club but it also will result in long-term uncertainty for the fans, players and everyone who loves this sport because all legal recourses will be pursued.
'Mr Hicks and Mr Gillett pledged to pay the debt to RBS so that the club could avoid administration that was threatened by RBS. That offer was rejected.
Centre of attention: The tug of war for Liverpool has been big news on Merseyside and beyond
Relief: Liverpool chairman Broughton
'It is a tragic development that others will claim as a victory. This means it won't be resolved the way it should be resolved.'
NESV were confident of their binding agreement to buy Liverpool after the board ratified the deal against Hicks and Gillett's wishes earlier this week.
The buyers had made it clear they would go straight back to the High Court if a deal with Mill Financial was attempted.
'Mill Financial would just be pawns of Tom Hicks and we believe this is all about Tom Hicks maintaining his control over Liverpool,' said an NESV source.
It has emerged that the Premier League rejected an attempt by Mill Financial to submit to their owners' and directors' test.
The Premier League told the hedge fund on Thursday night that they could only take instruction from the board of Liverpool.
This morning, Henry blasted his adversaries as 'desperate', writing on Twitter: 'We have a binding contract. Will fight Mill Hicks Gillett attempt to keep club today. Their last desperate attempt to entrench their regime.'
Today is also the nominal date for RBS to be repaid a sum of £240m in loans plus a further £40m in fees. After today RBS could, if they wanted, put Kop Holdings into administration leaving Liverpool in danger of a nine-point penalty.
NESV always believed they have the law on their side - their lawyers won a second successive significant victory yesterday when Mr Justice Floyd granted anti-suit injunctions to nullify decisions taken in the court in Dallas late on Wednesday.
The judge said his mandatory orders were not aimed at the Texas court but Hicks and Gillett to stop them taking further action there.
He was scathing in his remarks about the American co-owners' conduct, which he described as 'unconscionable'.
Originally posted by dragg:why cant peter lim pay liverpool’s debt for G & H on the condition they sell liverpool to him after that on a pre-agreed price?
There is no point cos according to new reports, Mill Financial (Who is said to own the 50% of Gillett's half) tried to pay off Hicks debts but the Royal Bank of Scotland rejected the offer as their intention seems to be wanting to take over the club only...
Whatever happens, I think Hicks or any one related to him can't get a fair trial in England now cos the Press are all against him and whatever he does it seems is bad even if he is only defending what is his in the first place.
I guess in the words by their lawyer, This attempt to sell the club to NESV an ‘epic swindle’ and a ‘grand conspiracy’.
It now seems Liverpool are down the long road of lawsuits that could trouble them for years to come unless something change...
Just a thought, G&H should really consider the European court of justice cos they can't get a fair trial with the bad press and the years of built-up discontent in England. And also the other parts of Europe seems to dislike the English... lol.
New England Sports Ventures have completed the £300million takeover of Liverpool.
The owners of the Boston Red Sox have taken control of the club after Tom Hicks and George Gillett were defeated in their legal battle to stop the takeover.
An NESV source told Press Association Sport: "The deal has been done."
A £300million takeover from John Henry's New England Sports Ventures was completed on Friday afternoon but Gillett and Hicks do not intend to go quietly.
A statement from them read: "It's an extraordinary swindle and it will result in exactly the wrong thing for the club and the fans."
Steve Stodghill, the Texas attorney representing the duo, added: "This outcome not only devalues the club but it also will result in long-term uncertainty for the fans, players and everyone who loves this sport because all legal recourses will be pursued.
"Mr Hicks and Mr Gillett pledged to pay the club's debt to RBS so that they could avoid administration that was threatened by RBS. That offer was rejected.
"It is a tragic development that others will claim as a victory. This means it won't be resolved the way it should be resolved.
"My clients worked tirelessly to resolve these issues but RBS would not listen to any reasonable solution and the directors acted selfishly and illegally.
"Mr Hicks and Mr Gillett wanted to position this club for the future, but others have a different agenda.
"In truth, there is nothing positive from these events for Liverpool Football Club.
"That is exactly the opposite of what my clients wanted to achieve. "
