Saturday, October 16, 2010

New England Sports Venture (NESV) Take Over Liverpool


New England Sports Venture (NESV) have completed their takeover of Liverpool football club.

Liverpool's Commercial Director Ian Ayre confirmed the deal at 3.55pm this afternoon, meaning John W Henry replaces Tom Hicks and George Gillett as the owner of England's most successful football club.

John W Henry stated that he was "proud and humbled" to be the new owner of Liverpool football club.

However remaining in the background, something like a grey cloud, are the former owners threatening a £1billion lawsuit for "damages".

The American pair say they will "pursue every legal avenue" as they look to claim damages for what they believe is an "extraordinary swindle".

When asked about this Henry joked: "Why is it only that much?"

A statement on behalf of John W 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."

Chairman Martin Broughton also stated that he would remain for the time being as Chairman in a "transitional role" until Henry and NESV create their own board.

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.

NESV Chairman Thomas Werner said in a statement: "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."

Jointly Mr Henry and Mr Werner both stated:

"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."

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