• Premier League

Lim withdraws offer for Liverpool

ESPN staff
October 14, 2010
Liverpool chairman Martin Broughton has been at the High Court to push through a deal © Getty Images
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On the day Liverpool's board have returned to the High Court to push through a sale of the club to New England Sports Ventures, rival bidder Peter Lim has withdrawn his offer for Anfield giants.

Lim had tabled a bid of £320m, £20m more than that of NESV, and said he was prepared to pay cash for the club. He said on Wednesday, shortly after Tom Hicks and George Gillett had failed in their bid to halt the sale to NESV, he would monitor the situation from his Singapore base.

It would appear the Liverpool board favour the offer on the table from NESV, as owner John Henry arrived in London on Wednesday evening to push through the deal. And despite the latest restraining order from Reds owners Tom Hicks and George Gillett, he has elected to withdraw his offer.

Lim released the following statement: "I have tried to engage constructively with the board and RBS based on an offer, funded from my existing resources, providing greater value for Liverpool Football Club, more cash for players, full repayment of all bank debts and a long-term personal commitment to build a better future for the club and its supporters.

"The board and RBS have chosen not to respond or to discuss my offer with me. My representatives even offered to meet the board last night. This was ignored, although NESV was invited to attend the meeting.

"It has become clear to me that the board is intent on selling the club to NESV to the exclusion of all other parties, regardless of the merits of their bids. In these circumstances, I am not able to proceed with my intention to acquire the club.

"If current events cause the circumstances to change, my interest in acquiring the club remains.

"I would however extend my very best wishes to Liverpool Football Club, the staff and players, and the fans who really deserve better than this. I hope the club now moves towards realising its potential and achieves success on the pitch."

In the High Court, Royal Bank of Scotland, the club's largest creditor, has asked Mr Justice Floyd to grant an "anti-suit injunction" to prevent Hicks and Gillett from proceeding with a lawsuit in Texas.

The Liverpool owners are trying to stop the sale and are asking for $1.6 billion in damages from RBS and independent board members.

RBS lawyer Richard Snowden said: "The Texas court seems to have been told remarkably little about the proceedings in this court. This is a most outrageous abuse of process."

© ESPN Sports Media Ltd.
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