Liverpool FC has moved to allay fears the ownership structure of the club could lead to a repeat of the deadlock which gripped the tenure of Tom Hicks and George Gillet.
A statement on the club’s website reveals principal owner John Henry and club chairman Tom Werner of New England Sports Ventures have 50% voting rights each.
The statement on the club website reads: "John Henry and Tom Werner are the ultimate owners of The Liverpool Football Club and Athletic Grounds Limited (the Club), each owning 50% of the voting rights in the Club."
The revelation that the new owners have, like former owners Tom Hicks and George Gillett, a 50-50 say is likely to raise fears of a potential for a future breakdown in the relationship.
Hicks and Gillett each owned 50% of Liverpool’s equity, meaning their disputes ended in stalemate until Royal Bank of Scotland and former chairman Martin Broughton intervened.
A spokesman for the club the owners believe there will be no repeat of that situation despite the 50-50 split of voting rights.
He said the longstanding working relationship between Henry and Werner, and Henry’s "prevailing economic interest" in the club effectively gives him the casting vote, meant there would be no repeat of the Hicks and Gillett situation.
"John W Henry and Tom Werner are close friends and confer repeatedly on all issues relating to Liverpool Football Club," the spokesman said. "They have worked together for 10 years at the Boston Red Sox without disagreement, and will continue to work together going forward.
"In the unlikely event there were to be any dispute principal owner John Henry has the prevailing economic interest and would have the means to resolve any issue."
Accounts at Companies House also reveal that NESV bought the club for just £218m in cash.
According to the filings NESV paid £217,778,550 for the equity in the club, effectively the amount Hicks and Gillett owed to Royal Bank of Scotland.
They also assumed responsibility for debts to RBS of around £83m, taking the transaction value to a round £300m.
NESV’s ownership of Liverpool is held via a new UK-registered holding company, UK Sports Ventures Holding Company Limited (KSV), a subsidiary of NESV.
UKSV has two directors, Edward Weiss, general counsel for NESV and the Red Sox, and David Ginsberg, an investment banker and colleague of Henry’s who is also on the football club board, and is vice-chairman of NESV and the Red Sox.
Bellow UKSV are two companies, Anfield Arena Limited, which appears to be the vehicle for the stadium development, and Liverpool Football Club and Athletics Grounds Limited (LFCAG), the football club business.
Henry and Werner are both on the LFCAG board, and are joined by three American colleagues, Ginsberg, Michael Gordon and Jeffrey Vinik.
No comments:
Post a Comment