quote Memento Mori
Only a fool thinks this is finished yet. But at least the ownership is sorted.
It's not over. Statement from Hicks:
quote Fat Dwarf
LFC owners to pursue $1.6 billion from "epic swindle"
Hicks and Gillett withdraw TRO blocking sale of Liverpool Football Club. Action prevents RBS from needlessly putting Club into administration. RBS rejected owners' pledge to pay off all debts by October 15. Attorneys say ludicrous, self-serving and illegal behavior from directors and outsiders to hinder Club for years.
"It's an extraordinary swindle and it will result in exactly the wrong thing for the Club and the fans."
Those were the words used by attorneys representing Liverpool Football Club owners this morning when they announced they would apply all of their legal energies toward securing at least $1.6 billion in damages they expect will result from the proposed illegal sale of the Liverpool Football Club.
Attorneys also stated that protracted litigation concerning the Liverpool transaction will now cause even more uncertainty for the LFC.
"This outcome not only devalues the Club but it also will result in long-term uncertainty for the fans, players and everyone who loves this sport because all legal recourses will be pursued," said Steve Stodghill, the Texas attorney representing the Liverpool owners. "Mr. Hicks and Mr. Gillett pledged to pay the debt to RBS so that the Club could avoid administration that was threatened by RBS. That offer was rejected. It is a tragic development that others will claim as a victory. This means it won't be resolved the way it should be resolved. My clients worked tirelessly to resolve these issues but RBS would not listen to any reasonable solution and the Directors acted selfishly and illegally."
Stodghill said the owners have no choice but to pursue every legal avenue possible, and they will.
"Mr. Hicks and Mr. Gillett wanted to position this club for the future, but others have a different agenda," said Stodghill. "In truth, there is nothing positive from these events for Liverpool Football. That is exactly the opposite of what my clients wanted to achieve. "
lol.. as if that's going to go anywhere.. here's RBS' response:
quoteRBS confident NESV deal will provide foundation for Liverpool FC and "vigorously oppose" Hicks and Gillett's legal action
Oct 15 2010
Comments (3)Recommend RBS released the following statement:
"RBS is pleased the sale of LFC to NESV has been completed and are confident this will provide the foundation for the Club and its fans to enjoy renewed success on and off the pitch.
"RBS is aware of reports that Mr Hicks and Mr Gillett may intend to pursue further litigation in relation to the sale of Liverpool FC.
"The English Courts have described claims made to date as "not realistic and abusive". Any further claims against RBS will be vigorously opposed."
Here is NESV's official statement also (on the purchase):
quote NESV
New England Sports Ventures (NESV) today 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.
NESV principal owner John Henry said:
"On behalf of the entire NESV partnership, I want to express how incredibly proud and humbled we are to be confirmed as the new owners of Liverpool FC. We regard our role as that of stewards for the club with a primary focus on returning the club to greatness on and off the field for the long-term. We are committed first and foremost to winning. We have a history of winning, and today we want LFC supporters to know that this approach is what we intend to bring to this great club."
Liverpool FC chairman Martin Broughton, said:
"I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive. 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."
NESV chairman Thomas Werner said:
"We recognise that Liverpool Football Club is an historicinstitution 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 organisation. 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.
Mr Henry and Mr Werner added:
"We are eager to commence with our plan, spend time with the organisation, its leadership, its supporters, and the local communities. We will take these steps alongside the club's executives with a shared objective of stabilising the club and ultimately returning Liverpool FC to its rightful place in English and European football, successful and competing for trophies."
PEStar
D I O S
Emphasis on might.
DjedwardSmith
Sweeney
Styot
