NESV’s takeover of Liverpool appeared to be inching ever closer on Wednesday night with a binding agreement on the sale of the Reds to this consortium in place. NESV’s intention was to conclude this deal quickly so the focus could move away from the circus away from the field of play to events taking place on it, as a statement on the whole situation explained:
‘NESV has a binding agreement in place with the board of Liverpool FC and we are looking forward to concluding the deal.
‘We are ready to move quickly and help create the stability and certainty which the club needs at this time.
‘It is time to return the focus to the club itself and performances on the pitch.’
A board meeting took place shortly after the High Court ruling on Wednesday that was attended by John Henry, a surprise attendee at this as the head figure in the NESV close in on completing their takeover of Liverpool. The board meeting discussed other offers, including Peter Lims’s counter offer, however Henry looked to be closing on the conclusion of the takeover and would’ve hoped to conclude this before the Merseyside derby this weekend. However Dumb and Dumber have made, what looks like, one last desperate throw of the dice to prevent the sale of the club.
A Texan court has granted a temporary restraining order against the sale of the club, along with damages of more than £1b. It’s claimed that an offer, greater than NESV’s approach, was made in early October and the American’s have been excluded from discussions over the sale of the club, as is explained:
‘The Director Defendants were acting merely as pawns of RBS, wholly abdicating the fiduciary responsibilities that they owed in the sale.
‘RBS has been complicit in this scheme with the Director Defendants. For example, in letters from RBS to potential investors obtained just within the past few days, RBS has informed investors that it will approve of a deal only if there is ‘no economic return to equity’ for Messrs. Hicks and Gillett.
‘In furtherance of this grand conspiracy, on information and belief, RBS has improperly used its influence as the club’s creditor and as a worldwide banking leader to prevent any transaction that would permit Messrs. Hicks and Gillett to recover any of their initial investment in the club, much less share in the substantial appreciation in the value of Liverpool FC that their investments have created.
‘On or about 4th October Mr. Hicks received a letter of interest from a third potential purchaser represented by FBR Capital Markets (FBR), offering to purchase Liverpool FC for £375 to £400 million. The letter informed Mr. Hicks that the potential purchaser would not need financing, possessed the funds to close the transaction, and intended to build a new stadium for Liverpool FC.
‘Additionally, the Plaintiffs learned just days ago about another potential investor that made a similar offer in the £350 to £400 million range that was communicated to Defendant Broughton and another unnamed co-conspirator in late August. According to this investor, Mr. Broughton never responded to the offer. Moreover, when the purported sale to NESV was announced, this investor again contacted Mr. Broughton and informed him that the offer, which significantly exceeded the NESV offer, was still on the table. Again, Mr. Broughton brushed this offer aside without further discussion.’
Whenever is this going to end!
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