Tom Hicks has joined forces with American hedge fund Mill Financial in a last ditch attempt to prevent the club being sold against his wishes. Mill Financial has, in effect, taken control of 50 per cent of Liverpool’s shares after George Gillett defaulted on the loan it gave him to finance his half of the buyout of the club. However, the efforts of Hicks will be to no avail if he loses in court this week.
Tom Hicks has joined forces with American hedge fund Mill Financial in a last ditch attempt to prevent the club being sold against his wishes. Mill Financial has, in effect, taken control of 50 per cent of Liverpool’s shares after George Gillett defaulted on the loan it gave him to finance his half of the buyout of the club. However, the efforts of Hicks will be to no avail if he loses in court this week.
A report in the Sunday Times suggests that New England Sports Ventures (NESV) will abandon their bid if the club fall into administration and are hit by a nine point deduction by the Premier League. Such a deduction would put Liverpool at risk of relegation, but it still seems something of an over reaction.
NESV have an open mind about the question of whether to build the Stanley Park stadium or re-develop Anfield. Their executives have experience of new builds. Larry Lucchino, the Red Sox president, oversaw construction of an acclaimed ballpark, Camden Yards. A rebuild of Anfield would cost about £200m as against £300m for a new stadium.
NESV has included in its buyout submission a suggestion that it will hold regular ‘town hall meetings’ with Liverpool fans and community groups.