Hicks & Gillett stall Liverpool sale with restraining order
Just as Liverpool’s board were ready to confirm the sale of the club co-owners Tom Hicks and George Gillett announced they have been granted a temporary restraining order by a Texas Court to stop the deal.
Hicks, a native of Texas, and his business partner Gillett had earlier lost a High Court battle in London with the club’s principle lender RBS.
Following the restoration of the board of directors the independent members, Purslow, Ayre and Chairman Martin Broughton, met in the offices of legal firm Slaughter and May in central London to conclude the sale of the club to New England Sports Ventures – the owners of the Boston Red Sox.
But just as it was believed the board were about to announce the conclusion of the club’s sale Hicks released a statement confirming he had been awarded a restraining order to block the deal and revealed plans to sue RBS, Broughton, Purslow, Ayre, NESV and Philip Nash for damages totalling $1.6billion.
Dallas Judge Jim Jordan granted the injunction, though no date has yet been set for legal proceedings to take place.
Following the news of the injunction, a Liverpool statement read: “Following the successful conclusion of High Court proceedings today, the Boards of Directors of Kop Football and Kop Holdings met tonight and resolved to complete the sale of Liverpool FC to New England Sports Ventures.
“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.”