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Liverpool complete official takeover by NESV

Liverpool Football Club appears to have a brighter future © PA Photos

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John W Henry has been confirmed as Liverpool's new owner having finally secured the £300 million takeover of the club, while previous owners Tom Hicks and George Gillett have ditched their attempts to gain £1 billion in damages.

Henry, the principal owner of New England Sports Ventures (NESV), was told of the news on Friday that Tom Hicks and George Gillett had 'folded' in their bid to cling onto the club.

And the duo will no longer be pursuing their action for £1 billion ($1.6 billion) in damages through the Texas courts - though they could still do so in England.

"Mr Hicks and Mr Gillett have withdrawn without prejudice their Texas lawsuit in order to fully comply with the order of the English court,'' said a statement from Fish & Richardson attorney Tom Melsheimer. "We believe the order is overbroad and unfair, yet Mr Hicks and Mr Gillett respect the legal process.

"We believe that once the English court finally has a chance to hear all the facts, a very different picture will be painted.''

Hicks' New York-based spokesman Mark Semer refused to elaborate on whether the battle would be fought in the English courts. "We cannot comment on legal strategy,'' he said.

ESPNsoccernet was informed that Henry was naturally happy to have fought off the late attempts by Hicks and Gillett to remain in power and an insider at the talks revealed late on Friday: ''It's a done deal.''

A statement confirmed the purchase: ''New England Sports Ventures announces that it has completed the purchase of Liverpool Football Club. NESV wishes to extend its sincere gratitude to the board of Liverpool FC for their diligence and their efforts on behalf of the club and its supporters.

''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. New England Sports Ventures is committed to winning and currently owns a portfolio of companies, including the Boston Red Sox, New England Sports Network, Fenway Sports Group and Roush Fenway Racing.''

Henry, who revealed he will not attend Sunday's Merseyside derby, promised to earn the trust of Reds fans through his actions, not his words, during his tenure as Liverpool owner.

"I am proud and humble, we have a lot of work to do, but I can't tell you how happy I am that we finally got this done," Henry stated. "We're not going to have a lot to say, we're going to do a lot of listening, and our actions will be louder than our words. It's too early to say what we're here to do, but obviously our tradition is to win. We have a history of winning, we are the second highest spending club in Major League Baseball, and we're here to win. So we'll do whatever has to be done."

Commenting specifically on his plans for a new stadium, and his attendance as Goodison Park, Henry offered brief answers: "It's too early to say what will happen with the stadium," he told the gathered reporters. "I think it's better that our first experience with the supporters is to be at home.

NESV chairman Thomas Werner, who has also been part of the negotiations, said: "We recognize that Liverpool Football Club is an historic institution ultimately grounded in the community and the fans. Our first step as new owners will be to listen. We want to hear from the manager and the players and those who are part of the daily operation of the club.

"We will be visible at Anfield and will embrace and listen to those who have stood by this club and who are the rock on which its future success will be built. We want to hear from the fans, local leaders and the local community. We want to hear from those who know LFC best, who have made it the best and share our desire to return to a culture of winning.

''NESV is committed to creating a long-term, financially strong foundation for the club and dedicated to ensuring the club has the financial resources to be successful again and attract the best players. To that end, the transaction has been structured in such a way as to eliminate all of the acquisition debt on the club.

''In the coming days and months, NESV will work closely with the LFC executive team to listen and learn about every facet of the organization. During this time, the new owners will begin to look at areas for greatest opportunity to increase the appeal of the club nationally and internationally. NESV wants to once again create a culture and environment to allow people to excel at the club on every front. During this period, NESV will also begin to examine opportunities to enhance the matchday experience in the short-term, while also carefully studying the various long-term options that may be possible.''

The pair ended by reaffirming their commitment to putting Liverpool back at the top of English and European football.

"We are eager to commence with our plan, spend time with the organization, its leadership, its supporters, and the local communities. We will take these steps alongside the club's executives with a shared objective of stabilizing the club and ultimately returning Liverpool FC to its rightful place in English and European football, successful and competing for trophies," they said.

Liverpool chairman Martin Broughton, who lead the takeover talks, was pleased with the outcome.

"I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive,'' he said. ''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."

© ESPN Sports Media Ltd.