Premier League approves Liverpool 300 million pound-takeover bid

Saturday, October 9, 2010

LONDON - The English Premier League has approved the 300 million pound takeover of Liverpool by US-based New England Sports Ventures (NESV).

The Premier League however made it clear that NESV still needs to prove that it has the funds available.

“The Premier League is satisfied, with the information provided, that the individuals NESV intend to put in place in the event they complete their takeover of Liverpool FC meet the criteria set out in our owners’ and directors’ test,” The Sydney Morning Herald quoted a statement, as saying.

“The board of the Premier League will continue working with Liverpool FC in regard to this process. However, we are aware that the formal completion of this takeover is yet to be resolved and it is therefore inappropriate for us to offer any further comment at this time,” it added.

The news comes after it emerged that Liverpool could be given a nine-point deduction by the Premier League due to the row over the club’s ownership.

Meanwhile, it is also believed that current bosses Tom Hicks and George Gillett are determined to block the takeover bid.

The Royal Bank of Scotland (RBS) would be able to put parent company Kop Holdings into administration if Hicks and Gillett fail to pay off their 280 million pound debt before October 15. (ANI)

Filed under: Sports

will not be displayed