• Prenier League

NESV won't back down over Liverpool purchase

Harry Harris and ESPNsoccernet staff
October 15, 2010
John W Henry claims he has a 'binding agreement' to take to court © Getty Images
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New England Sports Ventures (NESV) has revealed to ESPNsoccernet that it will fight Tom Hicks' proposed move to pay off the Royal Bank of Scotland (RBS) debt with money from Mill Financial by taking them to court on October 21.

NESV hold a ''binding agreement'' to buy Liverpool, but Hicks is plotting to pay off the RBS debt after doing a deal with the hedge fund that already owns co-owner George Gillett's 50% stake and the move will effectively see him retain his control over the club.

A NESV source told ESPNsoccernet: "If Hicks does repay RBS then that will give NESV no choice other than to go to court to protect its legally binding contract to buy Liverpool FC."

Liverpool already have an October 21 court hearing seeking a "declaratory judgement" that they can sell the club to NESV, but with Mr Justice Floyd already ruling that the Boston Red Sox owners can take control, the date may well be used for an appeal against Hicks' plot.

As one source close to the takeover fiasco told ESPNsoccernet: "Overnight we were all aware that something like this was being cooked up."

© ESPN Sports Media Ltd.
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