George Gillett’s Role Now Unclear In LFC After Default On £75m Loan

The role of George Gillett in Liverpool Football Club remains unclear as he is in default on a £75m loan he took out to invest in the club.

The loan from Mill Financial, an arm of US hedge fund Springfield Financial Company, should have been paid by the co-owner of the football club.

But it has not been and Mill Financial could take control of his shareholding.

At this stage the company does not appear to be exerting that much influence at Anfield, and has not returned calls from the ECHO, so its intentions are unclear.

Technically, Liverpool view the current legal dispute as a straight fight with Tom Hicks, not Gillett, owing to that £75m loan default.

But despite this debt not being paid, and unconfirmed reports that a US hedge fund took control of his share at Anfield, Gillett carried enough sway to join his co-owner in their attempt to vote Christian Purslow and Ian Ayre off the board during Tuesday’s extraordinary meeting.

For the time being George Gillett remains on the board of Kop Holdings along with co-owner Hicks, chairman Martin Broughton, managing director Purslow, and commercial director Ayre.

When buying Liverpool FC, the Americans set up a complex series of holding companies with an overriding parent company registered in Delaware.

Gillett’s £75m loan from Mill Financial is secured against his 50% share in the Delaware based parent company.

But the £237m RBS debt is secured against Kop Holdings, which sits much further down the line in the hierarchy of holding companies and just one level above Liverpool Football Club company, which ultimately controls the assets of the Reds – the playing squad, stadium, and commercial rights.

As the RBS debt is secured against the company in direct control of LFC it is in the strongest position to be repaid.

The £75m loan from Mill Financial provided the cash that Gillett used to invest in the club and had amounted to his Reds equity.

Liverpool Confident New Owners Can Keep Torres

Liverpool chairman Martin Broughton believes new owner John Henry and right-hand man Tom Werner can convince Fernando Torres and Steven Gerrard that they have a winning mentality, and they should stick around Anfield to see how far they plan to take the team.

As soon as the owners of the Boston Red Sox are installed and running the club, they plan to meet up with manager Roy Hodgson and his key players to convince them of their vision of turning around Liverpool's on-field fortunes.

There has already been speculation that Torres will head off to Manchester City or Barcelona in the summer after Hodgson's disastrous start to the new season, but Broughton has other ideas. Circling clubs are hoping to take advantage of Liverpool's current problems to capture Torres, and Gerrard remains on the radar of Jose Mourinho at Real Madrid and Rafa Benitez at Inter Milan.

Broughton told ESPNsoccernet: "The new owners want to be winners, and Fernando Torres wants to be a winner. They will be well matched. Will Fernando want to stay when he hears what they've got say? Absolutely."

The chairman's plan was to announce the takeover and then engage with all the team to explain to them about the new era at the club. But Broughton explained: "The plan was to get all the players together at the training ground to inform them of events, but then we discovered that most of them had gone off for international duty.

"Christian Purslow has spoken to Jamie Carragher and the few players who have been left. He [Purslow] has also spoken to our manager Roy Hodgson about the ideas and plans of the new owners."

Aquilani Is Fast Improving

Alberto Aquilani is playing with a smile on his face again at Juventus - after his disappointing £20million switch to Liverpool.

The 26-year-old was sent back on-loan to his native country after failing to set Anfield alight following his record move from Roma last summer.

Aquilani did not start the first four games of the campaign for Luigi Del Neri's team but has now gained a place in the starting line up.

"The team is gradually improving. The same applies to me and I'm happy," Aquilani told Sky Italia.

"Juve is a team that has changed a lot and as I said when I joined them, it will take time for the team to show its true potential.

"It was not something that I liked but it was the coach's decision.

"The fact is that Juve gave me the opportunity to return to Italy and I took that chance.

"It was not an easy decision because Juve have great midfielders and I knew the competition would be tough."

Signed by former Liverpool boss Rafa Benitez, their paths crossed when Aquilani played against Inter Milan last weekend.

He added: "It was nice to see him again. Despite a difficult year for both of us (at Liverpool), I had a good rapport with him.

"We spoke a little bit about Liverpool."

The issue of the Liverpool ownership is something that has not escaped the attention of the Italian following their proposed sale this week, but he admits his future is no clearer.

"I don't know if the club's sale will help Juve or Liverpool with respect to getting my services back," he explained.

"But whatever happens, the English club has meant a crucial move for my career."

Liverpool 'Exerting Strong Pressure' On Valencia Over Juan Mata

Perhaps in anticipation of New England Sports Ventures' proposed £300m takeover of Liverpool eventually going through, the Reds are reportedly planning for January purchases.

According to the Spanish daily Super Deporte, Valencia winger Juan Mata is firmly in Reds boss Roy Hodgson’s sights.

The paper claims that Liverpool have been “exerting strong pressure” on the La Liga leaders over the player.

It follows rumours that Liverpool could use Ryan Babel as a makeweight in a deal for the winger.

Mata averages a goal or assist every 105.5 minutes this season.

He is contracted to Valencia until 2012 and is valued at €20M-30M

Reds Chasing Four New Players

Liverpool scout Jakob Friis-Hansen has hinted the club are looking to bring in four new players in the January transfer window.

The Reds are currently embroiled in a takeover saga, with the boardroom split over a decision to sell and a High Court appearance needed next week to settle matters between owners George Gillett and Tom Hicks, and board members Christian Purslow, Ian Ayre and chairman Martin Broughton.

Dane Friis-Hansen is currently in his homeland after watching Lyngby's clash with FC Nordsjaelland, where he was thought to be watching young trio Kim Aabech, Lasse Rise and Emil Larsen in action.

However, Friis-Hansen denied he was interested in the players and had just visited the club to see an old friend, admitting in the process that he is looking for several first-team players to join the ranks at Anfield.

"I played with an old friend in Lyngby and have many good friends at the club, and because you have seen me up there, it does not mean that I am interested in their players. It is not what we need now," Friis-Hansen told bold.dk.

"The results are now important in Liverpool, it is first priority to get four prominent players in the next window for the first team. Players who can go into the starting line-up.

"Roy (Hodgson) will hopefully get some money to work with. I will work in Italy, Germany, France, Belgium and Holland and will this year also be going to Spain for Liverpool and it is solely for the first team.

"It is a shame for Roy to get such a start, for there is no doubt that he is a really good coach. But it has been a tough start, because you did not know and still do not know what will happen with the club financially.

"I can hopefully go out and look at players in the highest price category at a time. But we will see."

Reds To Open Belfast Store

Liverpool Football Club are delighted to announce plans to open their fifth official club store in Belfast.

Opening in early November 2010, the store will be located on Castle Lane, in the heart of Belfast's retail district.

The store will cover 2000 sq. ft. and will stock a wide range of official club merchandise.

Lee Dwerryhouse, Head of Retail at Liverpool Football Club, believes Belfast is the right city to host the Club's first store away from home territory. "As a city Belfast has many parallels with Liverpool and the Club's fan base in the city is huge," he said.

"Our fans in Belfast are extremely passionate and their loyalty to the club is unbelievable. I am delighted we have been able to reward that loyalty and passion with our first store outside of the north west of England.

"We considered many sites for our next store but all the signs kept pointing back to Belfast. This store signals the start of an expansion strategy that will see a host of official Club stores opening outside of Liverpool over the next few years."

An opening date for the store is yet to be confirmed but a launch event featuring exclusive promotions and a number of special guests is planned.

Broughton Eyes Profitable Future

Liverpool chairman Martin Broughton has aimed a swipe at Manchester City, saying his club's prospective new owners will provide a profitable future at Anfield.

The Reds have agreed in principle to sell the club to New England Sports Ventures, but co-owners Tom Hicks and George Gillett are trying to block the deal.

The takeover battle is set to be resolved in the High Court next week with Liverpool hopeful a deal with NESV, who also own the Boston Red Sox, will be pushed through.

Broughton believes prospective new owner John Henry will provide 'rational' leadership at Liverpool and that the club will be in position for the new Uefa fair play regulations, which are set to come into effect in 2012.

"A hugely important aspect for Liverpool is [Uefa's] financial fair play rules. They come into effect pretty damn soon, and will have a massive effect on many, many clubs," Broughton said.

"Taking a rational, commercial approach to success is absolutely the right way forward, and that is what New England will do. They have demonstrated that already in their model at Boston.

"I couldn't help notice that Manchester City's wage bill for last year was exceeding its revenue. That is going to be very difficult under financial fair play. They might be able to sort it out before then but we were not looking for someone who was going to put us in that position.

"We were looking for somebody who was going to see this as a commercial business that can be commercially successful. That is what they have already demonstrated. They have made a profit by investing heavily in players and stadium development and they have delivered a winning team."

Broughton insists NESV's approach is the right one for the future and that funds will be made available to bolster the playing ranks.

Broughton added: "We weren't looking for an Abramovich or Sheikh Mansour, because we understand a rational commercial approach is the way forward in football now.

"New England's bid of around £300m will include £200m in equity to write down the acquisition debt, as we call it, the legacy of Hicks and Gillett, and there is £40m of cash to pay off various other liabilities.

"The balance is what we call assuming the ongoing working capital debt and the new stadium financing debt, and it means there will be no debt on the club, and Liverpool will actually be equity rich. The aim was always zero debt.

"Why? Because that will allow trading without debt, and vast profits coming available again to invest in the business instead of servicing loans. New England are fully committed to that, they are committed to investing heavily in players and infrastructure to boost future profits."

Liverpool's Potential New Owners To Hold Talks With Steven Gerrard, Pepe Reina & Fernando Torres

Liverpool's prospective new owners are believed to be in line to hold face-to-face talks with skipper Steven Gerrard, goalkeeper Pepe Reina and striker Fernando Torres if and when a takeover is completed.

The club is currently the subject of a £300 million takeover by New England Sports Ventures, but the current co-owners Tom Hicks and George Gillett are attempting to block the sale as they deem the price too low.

A boardroom battle followed with the controversial Americans trying to get rid of two of their board members in the hope of putting a stop to the process. But the matter of the sale is expected to be resolved in the High Court.

In the meantime, The Mirror reports that the potential new owners will make the retention of the club's stars as their top priority following a takeover, as one-to-one talks with Gerrard, Reina and Torres have been planned.

In light of the possible change in ownership of the Merseyside club, Spirit of Shankly - a Reds fangroup - spokesman James McKenna told Goal.com UK that it is "absolutely vital" that the prospective new owners speak to fans concerning their plans for the future.

And it is now claimed that the potential owners will not only speak to fans, but will also offer them representation on the board to voice their concerns.

Fuller Roles Planned For Dalglish And Fans' Figurehead

The roles of Kenny Dalglish and fans' leader Rogan Taylor will be high on the agenda of the new American owners, ESPNsoccernet can exclusively reveal.

As they wait for the legal battle to play out in court, New England Sports Ventures' (NESV) top brass, led by founder John W Henry, are busy planning the first days of their new regime. Henry and his team are keen to understand as much as they can about all the players in the Liverpool drama, knowing that first impressions will be very important when they arrive on Merseyside.

One of the key issues for Liverpool's potential new owners is how they engage with the fans and the local community from day one. NESV are extremely savvy businessmen who are acutely aware of the need to conduct themselves in a different manner from that of Hicks and Gillett.

An insider told ESPNsoccernet: "How best to engage the fans is always going to be a delicate issue after Hicks and Gillett, but it is nonetheless a major issue and one of great importance."

To that end, they are already thinking about how best to begin listening to local ideas and concerns as they look to develop their plans for the Club.

Kenny Dalglish is one figure whose views they will doubtless seek. Rogan Taylor, leading local academic and head of ShareLiverpool, the group promoting fan involvement at board level, is another who may have a role to play.

"We have to remember Liverpool fans will never greet with open arms any incoming owner because they have been badly burned once,'' Rogan Taylor told the Daily Telegraph. Taylor's group can potentially bring the prospect of additional investment to the table. He said: "I think I can get 100,000 Liverpool fans to write out cheques for £500 each if they can guarantee they won't be shafted again.''

What Taylor might get for his putative £50 million remains to be seen. It is far too early to say whether there is a realistic prospect of the additional cash being deliverable or of it buying the fans anything as tangible as a seat on the board.

However, the potential new owners will arrive in Liverpool very much in listening mode. They know that it is vital not to promise too much and then fail to deliver and they want to make sure that they can build solid long-term relationships with supporters groups.

The role of Dalglish in the new regime, and how best to engage the fan base in a real and workable way, is a key issue. Dalglish is seen as a marginal figure within the Tom Hicks/George Gillett ownership, though he is an ambassador and Head of Football Development for the club.

Hicks and Gillett arrived at Anfield with plenty of hype about engaging the fans, but never attracted any warmth to say the least.

The NESV team understands how their fellow Americans failed to embrace the fan base as positively as they should have done, and how an icon like Dalglish is part of the fan culture of Anfield. It is also intriguing to note Dalglish's view that renovating Anfield should not be dismissed in the quest to build a new £400 million stadium which might be out of the financial reach of the club.

Hodgson Hoping For Major Transfer Funds

Liverpool boss Roy Hodgson is desperate to receive transfer funds from the club's prospective new owners.

New England Sports Ventures, who own the Boston Red Sox baseball franchise, are attempting to close a £300million deal to take over at Anfield.

Their hostile bid is being challenged in the courts by current American owners Tom Hicks and George Gillett, but club chairman Martin Broughton is confident of pushing through the deal before a deadline over loan repayments to the Royal Bank of Scotland next week.

Should the deal be completed swiftly then Hodgson is hoping to receive transfer funds in time to strengthen his under-performing squad in January.

The Reds are currently 18th in the Premier League table after winning just one of their opening seven games and were dumped out of the Carling Cup by Northampton Town last month.

"We know what we must do. We need new players and investment and know we're weak in certain areas," explained Hodgson.

"These things have been the case since I arrived here and we have not had a chance to put it right.

"I ask for the fans' patience, trust and belief as we will get it right."

Liverpool To Rival Fulham For German Strike Ace

Liverpool have joined the race to sign Bayer Leverkusen striker Stefan Kiessling.

talkSPORT revealed earlier this week that Fulham were in the hunt for the 26-year-old but now the player's agent has revealed that the Merseyside club are also trying to land the forwards signature, as well as a host of other top European clubs.

Speaking in German newspaper Bild, the player's representative, Ali Bulut, said: "Milan, Liverpool, Schalke 04 and Rubin Kazan have asked for the player in the recent weeks.

"There are no formal offers at the moment. Depending on what Bayer say he could be sold in January."

Liverpool Takeover: John W Henry's New Regime Will Need Deep Pockets

Fuelled by a mixture of cheap debt and skillful financial engineering, the industry reached its recent high watermark in the spring of 2007, months before the financial crisis erupted.

Instead, Henry comes from the world of futures trading and appears to keep his company lean.

A handful of traders run his future business John W Henry & Company's computer trading programmes at its head office in Boca Raton, Florida.

When Henry, alongside Larry Lucchino and Tom Werner, won the fight for the Boston Red Sox in early 2002, it’s believed that their $660m offer was not even the highest of the six bids on the table.

But the Yawkey Trust, which controlled the club following the death of Thomas Yawkey – who had snapped the team up for $1.2m in the depths of the Great Depression in 1933 – liked the group’s plans for a club whose struggles on the field were hampering its commercial development off it.

While little is known of the finances of J W Henry as it’s a private company, its value is likely to have diminished in the past five years as larger rivals such as London-based Winton Capital and Aspect grab larger market shares.

However, his ownership of the Boston Red Sox suggests Henry, Lucchino and Werner know how to increase the value of a brand — something that will prove key given Liverpool’s global reach.

New England Sports Ventures has overseen a doubling in the value of the Red Sox from $426m - that valuation excluded the debt it assumed when buying the club - in 2002, to $870m this year, according to Forbes data. In the same period, the club has gone from nursing an $11m loss to being $40m in the black.

The Red Sox have overtaken the New York Mets and LA Dodgers in Forbes’s annual Major League valuation table and are now only second to the New York Yankees, their closest rivals.

“They have transformed a mundane franchise into one of the most successful in the business,” according to a leading sports banker, who has worked with Henry.

“They have diversified their revenues by selling advertising and other spin-offs, and improving the concessions at Fenway Park,” he said.

“They also enhanced their media exposure and improved the experience in the stadium. You cannot get a seat at Fenway Park any more.”

He said he was confident the tycoon could replicate the success at Liverpool but that this would require substantial investment.

And serious questions remain for Henry, including the possible building of a new stadium – something that Hicks and co-owner George Gillett never managed.

“There are big questions,” the financier said. “Liverpool needs a new stadium, which would cost about £700 million.

“And the success of the product starts on the field. You need to build a very good team and there is no limit to how much you can spend on players.”

While not a financier reliant on debt, Henry is still likely to find restoring Liverpool’s fortunes on and off the pitch will require him to dig heavily into his pockets.

Liverpool Supporters' Group Seeks Talks With Prospective New Owners

Liverpool fans are demanding talks with the club’s prospective new owners to discover their intentions and ask them to explain their plans.

Spirit of Shankly, the supporters’ group that has campaigned aggressively to oust Tom Hicks and George Gillett, have welcomed the agreed sale of the club to New England Sports Ventures, owners of baseball’s Boston Red Sox.

But they remain ‘extremely skeptical’ as the Hicks and Gillett era draws to a close and are desperate to avoid a repeat of the catalog of mistakes made since the Americans took over three years ago.

“As fans we are worried that the next set of owners will be just as bad,” SoS spokesman James McKenna told Goal.com UK. “It is absolutely vital that the new owners talk to supporters to alleviate our many concerns.

“The main things we need to know are their plans to invest in the team and for the new stadium. [Chairman] Martin Broughton has been talking to them for a while and we want to know, what are your plans? What will you do about the stadium? Where is the money coming from?

“We want them to engage with us and use the fans as a positive. After Hicks and Gillett we are extremely skeptical so we need to know that the next owners are the right owners.

“We accepted the last owners too easily and we won’t be doing that again. If they are the right people for the football club they will sit down and talk to us rather than chase PR and photo-shoots while ignoring the supporters.

“The issue fans face these days is that we find it hard to trust the integrity of these people. All supporters will be watching very carefully to see their intentions for the football club and they need to talk to us.”

The sale is now subject to Premier League approval and a legal wrangle between Hicks and Gillett and the three independent directors after a sensational boardroom split emerged on Tuesday.

The Americans’ desperate attempts to cling on to power comes as no surprise to Spirit of Shankly, who believe the most important thing is for the club to be in new hands.

McKenna added: “It’s been a nightmare for Liverpool supporters and we've fallen behind the likes of Manchester United and Chelsea because of the debt, the lack of a stadium and their failure to invest in the team.

“The main thing is that this matter is resolved sooner rather than later so we can start concentrating on what is happening on the pitch rather than a poisonous situation in the boardroom.

“The club needs to be managed properly on and off the pitch – we will wait with baited breath until Hicks and Gillett are out and we can start a new era for the football club. We are cautiously optimistic.”

The Boston Red Sox bid is led by another American – John W. Henry – who is believed to value the club at around £300 million.

That would be enough for the club to repay in full their £282m loans to the Royal Bank of Scotland and Wachovia, and leave a little more for investment in the team.

Hicks and Gillett believe the offer undervalues the club and on Tuesday attempted to block the deal by trying to replace managing director Christian Purslow and commercial director Ian Ayre with Mack Hicks – son of Tom – and Lori Kay McCutcheon, vice-president of Hicks Holdings.

The deadline to repay the bank debt is October 15 and Tom Hicks in particular is expected to try to raise the capital to make his own offer to repay the bank debt.

Council Ready To Block New Liverpool Owners' Plan For Anfield Redevelopment

New England Sports Ventures, the company bidding for control of Liverpool, is on a collision course with the city's council over plans to redevelop Anfield. The Liverpool chairman, Martin Broughton, has confirmed the club's prospective new owners NESV – which has a track-record in redeveloping a sports stadium with the Boston Red Sox – will consider upgrading Anfield if a £300m offer to gain control from Tom Hicks and George Gillett is accepted in the high court next week. It is understood that a commitment to put £100m towards a new stadium had previously been a condition of the sale.

The leader of the council, however, insists a U-turn on the stadium would be unlikely to gain approval. "I would discourage them [NESV] from redeveloping Anfield and would encourage them to stick to the commitment that is already in place because I think that is the best solution for everyone – for the club and the city," councillor Joe Anderson said.

NESV's offer was accepted after it increased the equity involved to £240m, matching a rival bid from Asia, and Anderson believes the new stadium must be the priority for the club as he attempts to safeguard the area's regeneration.

Other sources say the same planning obstacles that prompted the former chairman David Moores and the then chief executive, Rick Parry, to propose relocating across Stanley Park still exist, leaving NESV facing the potentially greater expense of a new build.

NESV had to commit to a stadium project during negotiations with Liverpool and still intends to revisit existing plans for a new 60,000-seat arena on nearby Stanley Park. However, considering upgrading Anfield represents a radical departure from the past decade of club and council policy. As far as the council is concerned, that policy has not changed, and with much of the present stadium landlocked in a residential area NESV would have to overcome major obstacles to increase Anfield's capacity to its desired figure of 60,000-plus. These include the purchase of nearby houses to make way for new stands, which Liverpool have already done to some degree, improving public access and objections to a development that would tower over local properties.

A separate, though fundamental, reason for the council's desire for a new stadium – which has planning permission that is due to expire in April 2011 – is to see the creation of the proposed Anfield Plaza on the site of the existing stadium. The Plaza, containing shops, offices and restaurants, is intended to provide a public link to the new arena, but also an estimated 1,000 jobs in one of the most deprived local authority wards in Britain.

This was a key condition in Liverpool obtaining permission to build on public land in Stanley Park and, despite the change from a Liberal Democrat to a Labour council at the last election, it remains a priority for local politicians and residents.

Cllr Anderson, who welcomed the potential change of ownership as "a huge relief", said: "It has been suggested to me that NESV would be willing to meet at the earliest possible opportunity in the event of the takeover and I would urge them to do that to give me the opportunity to find out exactly what their intentions are, because the stadium is a key part of our plans to regenerate north Liverpool.

"Those plans haven't been held up entirely by the stadium situation and it would be wrong to say that they have. But they have had an impact and we just want to be in a position where we have a clear sign that the stadium issue will be resolved one way or another, something Hicks and Gillett failed to do despite the string of promises they made."

NESV members have paid several visits to Liverpool in recent weeks but, with control of the club not yet sealed, have not reached the negotiating stage with the council. They have, however, held discussions with the Royal Bank of Scotland over funding any stadium plans and, unlike Hicks and Gillett, who made themselves hostage to fortune with a promise to "put a spade in the ground within 60 days" of their takeover in February 2007, are reluctant to commit to one proposal at this juncture.

John W Henry the principal investor in NESV, overcame major difficulties to redevelop the historic home of the Boston Red Sox, Fenway Park, although at the cost to the fans of vastly increased ticket prices. Broughton said: "They are going to look at a new stadium but they have experience at Boston of redeveloping an old stadium and just want to be sure they have exhausted all options before deciding on which one, but the commitment is they will do one or the other."

Liverpool's need for improved revenue streams from a new stadium is pressing and was a principal reason why Moores sold his majority shareholding to Hicks and Gillett in 2007. Club accounts for 2008-09 financial year showed Liverpool made £42m from gate and matchday income. In the same period Arsenal made £100m at the Emirates Stadium and Manchester United generated £109m at Old Trafford.

Liverpool is a host city for England's 2018 World Cup bid but with Anfield's capacity over the 40,000 threshold, and NESV committed to some form of rebuilding, that status is not at risk.

Reds Chief Outlines Deal

Liverpool chairman Martin Broughton has spoken exclusively to Sky Sports News about the proposed sale of the club.

Broughton has confirmed that the agreed deal with New England Sports Ventures (NESV), the parent company of the Boston Red Sox baseball club, is worth around £300million.

Broughton believes it will take a week for the deal to go through with current owners Tom Hicks and George Gillett challenging the sale via the courts, with the offer significantly under their own valuation of the Merseyside club.

While Broughton admits he is disappointed by the American duo's stance, he does not expect them to hinder NESV's projected takeover of the club.

"This was their last chance to leave with their heads high, it's a pity they have chosen this route," said the Reds chairman.

"Part of the terms of me taking on the role was that they gave a written undertaking that only I could change the board and they would not interfere and frustrate any reasonable sale.

"And this is frankly an abuse of these undertakings."

Broughton revealed Liverpool had only received two bids that they deemed valid, with NESV's track record with the Red Sox proving a key factor in their decision.

He also confirmed that the potential new owners plan to invest in new players in January, as well as exploring the prospect of a new stadium.

"They want to be judged by what they do rather than what they say and can demonstrate what they plan to do by what they have done," added Broughton.

"If you look at the Boston Red Sox as a classic example of taking a very famous, historic, major team that has seen better days and restored them to their glory, I think that is a parallel that demonstrates action.

"Their mentality is all about winning. They have invested a lot of money in players [at the Red Sox] and they have committed to making the necessary investment in players at Liverpool."

Broughton revealed NESV have not decided whether to continue previous plans to build a new stadium in Stanley Park, or to redevelop Anfield, but he insisted the new ownership intend to have a 60,000 capacity ground in place either way.

"They want to make sure they do the right thing on the stadium," said Broughton.

"They have built stadiums and they have restored stadiums. They have not committed to which is the right thing.

"We will have a stadium of more than 60,000. We will get substantial stadium development."

Broughton gave positive indications on Liverpool manager Roy Hodgson's chances of having funds to spend in January adding: "I think there will be money for players in the next transfer window."

Hicks Confident Over Blocking Of Liverpool Takeover

Liverpool fans rejoicing at the prospect of current owners Tom Hicks and George Gillett departing Anfield profit-less may need to postpone their joy after Hicks insisted his move to block John Henry's takeover was 'legal'.

Reds chairman Martin Broughton announced on Wednesday that a takeover could be completed in time for the forthcoming Merseyside derby, after Liverpool came to an agreement with New England Sports Ventures. The only people blocking the move are the club's current owners, who will go to court next week in attempt to block the sale.

Hicks and Gillett attempted to have Christian Purslow and Ian Ayre removed from the board in order to alter the majority voting in favour of the takeover, but Liverpool claim only chairman Broughton has the right to change members of the board.

"The key thing is the court case," Broughton explained. "We need to go to the court to get a declaratory judgement ... part of me taking on the role - and I was appointed by Tom and George - was that they gave a written undertaking that only I could change the board, they wrote that into the articles of the two companies Kop Football and Kop Holdings. They also gave a written undertaking to RBS that they would not frustrate any reasonable sale and this is frankly a flagrant abuse of those two written undertakings."

However, both Hicks and his spokesman have rejected Broughton's claims, insisting they are well within their rights to prompt changes at board level. The matter goes to court next week, and Hicks is confident he holds a strong legal position.

"We legally reconstructed the board and the board does not approve of the transaction. That's why there are laws and courts," he told the BBC.

Spokesman Mark Semer added on Bloomberg.com: "There were no such undertakings given to Broughton. The board has been legally reconstituted, and the new board does not approve this proposed transaction."

Liverpool Owners Look To Replace Roy Hodgson With Jurgen Klinsmann

New Liverpool owners New England Sports Ventures are rumoured to be planning to replace current Anfield boss Roy Hodgson with German legend Jurgen Klinsmann as they look to build for a new future by removing the under fire former Fulham manager.

Klinsmann had been linked with the USA national team post and has many links with the country and currently resides in California but it has been rumoured that he may be approached to take over the reins at the Merseyside club.

The former Inter Milan and Tottenham striker had been linked with the job when Rafa Benitez was still in charge and could well be interested in a return to club management, especially at a club with new investors and reportedly a decent amount of money to invest in the transfer market and without the debts that Tom Hicks and George Gillett had saddled the club with.

Klinsmann had a successful stint as manager of the German national team at the 2006 World Cup where he led the host nation to an unexpected third place finish which he then followed up with a less than glorious year at Bayern Munich.

Kenny Dalglish A Serious Contender To Become Next Liverpool Manager After Proposed Takeover

Former Liverpool boss Kenny Dalglish is even money to take over as Reds boss when the club takeover is complete.

The Anfield favourite put his name forward as a candidate to replace Rafael Benitez before the club opted for Roy Hodgson in the summer. Following Liverpool's latest defeat against Blackpool at the weekend Dalglish's name was chanted around Anfield by large sections of the home faithful.

Unemployed Martin O'Neill is also in contention at 4.50 with American Bob Bradley at 11.0 and Didier Deschamps at 11.0. World Cup winner Deschamps was approached to succeed Benitez in the summer while another contender Michael Laudrup came close to joining the Reds as a player during their 1980s heyday.

Club chairman Martin Broughton has announced the club will be sold to New England Sports Ventures pending a legal protest from current owners Tom Hicks and George Gillett.

Hodgson's tenure has got off to a dreadful start as the 18 times champions reside in the bottom three. He's 4.50 third favourite to be the next Premier League manager to be axed.

David Mole, Goal.com's Betting & Odds expert believes the odds of 4.50 on Hodgson getting the sack are well worth considering.

"Hodgson (or 'Woy' as some Liverpool fans I know are rather harshly calling him) looked like just the man to steady the Liverpool ship when he arrived into the rather choppy waters this summer. However, not even the staunchest Manchester United fan would have predicted that they would reside in the relegation places as we sit here in October.

"Nice guy, wrong job has been touted around but the new owners will surely want stability more than anything and I can't see them making a change too swiftly. Dalglish runs the risk of repeating Shearer's short time in the managerial hotseat if the Messiah is allowed to take over, only to disappoint those chanting his name. Taking a punt on his successor could be tricky but 4.50 looks like a reasonable price for the axe to fall at Anfield next as a relegation battle will surely not be tolerated."

Liverpool Line Up Hopeful £18m January Bid For Manchester City Pair

Roy Hodgson has earmarked moves for Manchester City pair Shaun Wright-Phillips and Roque Santa Cruz in January. The Anfield and hopes that by the time the transfer window reopens the club’s American owners will have left leaving the way open for new investment and the potential for further additions to help revive the Merseyside outfit’s fortunes.

Having started the season shockingly the former Fulham manager has set his sights on resolving two areas of concern, namely the need for more natural width and an experienced striker to help share the goalscoring burden with misfiring Fernando Torres.

Wright-Phillips stated last month his desire to force his way into a regular starting spot at the Eastlands club but it seems that may be something Roberto Mancini is unable to guarantee given the abundance of wide players the club has, not least new signings Adam Johnson and David Silva. A move to Anfield would surely interest the England international and offer him a way to kick start a stuttering career.

Paraguayan Roque Santa Cruz seems unable to get a break at the City of Manchester Stadium and has thus far this season managed just a Carling Cup run out and not one minute of Premier League action. Roy Hodgson tried to land a striker as the transfer window closed and failed in moves for Carlton Cole and Roman Pavlyuchenko and appears to see the former Bayern Munich man as a viable target.

The pair would set Liverpool back around £18m and clearly any such move would depend greatly on where the club stand’s financially come January.

Liverpool Takeover War Set To Scupper Bid For Danish Starlet

Liverpool's insecurity off the field could mean they miss out on exciting Danish starlet Emil Larsen.

The club is currently embroiled in a bitter takeover wrangle, with current owners Tom Hicks and George Gillett said to be ready to resist the reported £300m bid to buy the club by New England Sports Ventures.

Until the deal has reached a resolution, Roy Hodgson has no real indication of what he will be able to spend in January and although he is interested in attacking midfielder Larsen, he faces competition from clubs in France and Germany.

Larsen, 19, currently plays for Danish club Lyngby and Hodgson monitored him during his days as Fulham manager.

The Liverpool boss had an extensive Scandinavian scouting network at Fulham and Larsen has been on his radar since his move to Anfield.

But sources at Lyngby have confirmed Hodgson has yet to make his intentions known to them and that no bid from Liverpool seems to be forthcoming.

And with Liverpool's boardroom battle the main priority at the moment, Hodgson risks losing out on the talented teen when the transfer window reopens.

Prospective Liverpool Owners NESV Are Nothing Like Hicks And Gillett - MLS Chief Don Garber

MLS chief Don Garber believes the prospective new Liverpool owners, New England Sports Ventures (NESV), cannot be compared with the club's current American owners, Tom Hicks and George Gillett.

Garber believes NESV, owners of the MLB franchise the Boston Red Sox, has a great track record of operating more successful and more prestigious sports teams than either Hicks or Gillett, who can count the Texas Rangers among their other sporting interests.

Garber believes NESV's work with the Red Sox is an encouraging example of what could be in store for Liverpool, should the takeover be completed.

"They [NESV] have a tremendously robust understanding of the sports business and how to protect and enhance the legacy of the historic brand," Garber told the Leaders in Football conference in London.

"That's in essence what they have done with the ownership of the Red Sox. There is something called the Red Sox Nation, a brand supported by fans going back generations, similar to Liverpool supporters.

"The ownership has not only graced that but enhanced it, they have enhanced and renovated the stadium, they have brought modern technology to improve the fans experience.

"They have put championship teams on the field and managed their enterprise with an eye to profitability, so they are tremendous pro-sports team owners."

NESV are led by John Henry, and while Garber didn't want to be drawn on his methods when compared with the current Anfield incumbents, he did highlight his credentials with high-profile sports organizations.

"I can't speak for the difference between Gillett and Hicks and John Henry and his partners," Garber started.

"But if you are a sports fan in the USA, pick two or three of the most revered and successful clubs in our nation's sporting history and the Red Sox are one of them.

"I don't know if you could say the same about the teams owned by Mr. Gillett and Mr. Hicks."

Liverpool Look To Invest In Players After Sale To Red Sox Owner

Liverpool today announced that the board has agreed the sale of the club to New England Sports Ventures, owners of Major League Baseball's Boston Red Sox team.

"I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive," club chairman Martin Broughton said in a statement on Liverpool's website.

"The board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner.

"NESV's philosophy is all about winning and they have fully demonstrated that at Red Sox.

"We've met them in Boston, London and Liverpool over several weeks and I am immensely impressed with what they have achieved and with their vision for Liverpool Football Club.

Broughton added: "By removing the burden of acquisition debt, this offer allows us to focus on investment in the team.

"I am only disappointed that the owners [Tom Hicks and George Gillett] have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale."

The takeover would make Red Sox principal owner John Henry a key figure in the new-look Liverpool boardroom.

Liverpool confirmed that the takeover was subject to resolution of a legal dispute with their current American owners Hicks and Gillett and on Premier League approval.

Today's development followed an announcement by Liverpool on Tuesday that they had received two new bids - "excellent financial offers" from NESV and another from Asia - which would wipe out the club's approximate debt.

Liverpool must repay or refinance about £280m in loans to Royal Bank of Scotland by Oct. 15.

Hicks and Gillett value the club at £600m and are opposed to a sale which would leave them with little from the proceeds.

Yesterday, Hicks and Gillett failed in their attempt to sack Liverpool's managing director Christian Purslow and commercial director Ian Ayre to retain control of the club.

The US owners, who bought the club in 2007 and have since invested more than $270 million in the club, said in a statement that the bids "dramatically undervalue the club". They insisted they would not go without a fight and are looking for a "fair price that reflects the very significant investment we've made".

New England Sports Ventures currently owns a portfolio of companies including the Boston Red Sox, New England Sports Network, Fenway Sports Group and Rousch Fenway Racing.

NESV's John Henry is reported to be a popular man among Red Sox fans. After taking over the club in a $690 million buyout in 2002, he helped the team win baseball's World Series in 2004 for the first time since 1918. They won it again in 2007.

Henry invested heavily in renovating the storied Fenway Park, the oldest stadium in Major League Baseball, and has turned the Red Sox into one of North American sports most profitable franchises.

Liverpool fans will be hoping the 61-year-old billionaire can now work his magic on the crisis-hit Reds, who currently lie third from bottom of the Premier League with just six points from seven games.

"High Valuation" Derailed Kirdi Bid For Liverpool

Syrian businessman Yahya Kirdi has revealed why he and other investors and potential buyers are avoiding buying Liverpool, as Anfield's board plan an emergency crisis meeting on Wednesday.

Kirdi revealed that the embattled club needs "millions and millions" spent on making it competitive enough to challenge for trophies, and that a new owner would need the Royal Bank of Scotland (RBS) to defer most of the £237 million of debt that is owed to the bank. Canada-based Kirdi also disclosed that current co-owners Tom Hicks and George Gillett are in conflict with their English directors in a massive boardroom split.

Liverpool are suffering in the Premier League relegation zone after their worst league start for more than half a century and manager Roy Hodgson is already under heavy fire, despite only having arrived at the club in July.

Kirdi, whose interest in the club was revealed in August only to swiftly ebb away, insisted that potential buyers would want RBS to defer much of the repayment of the loan as a condition of buying the team. "That would allow investment in the team and work on the new stadium to begin," he said, adding that his group shelved plans to acquire Liverpool after failing to agree on a price.

In June the Liverpool board prevented an attempt by Hicks to refinance the £237 million debt, which now stands at around £280 million because of penalty fees, and have since tried to block any new refinancing plans put to the board. Hicks last month failed to secure a refinancing deal with American investment group Blackstone.

"Right now is not the time for me and my group to enter into any negotiations," Kirdi told Bloomberg. "Once everyone is united and there's logic in the price and the overall deal, me and my group will be prepared to return to the table." RBS has set an October 15 deadline on its debt so any possible buyers are running out of time to reach a deal with Barclays Capital, which has been appointed by Gillett and Hicks in April to handle the sale of the club they acquired in 2007.

Kirdi admitted that his refusal to name his backers has provoked some Liverpool supporters into questioning his seriousness as Gillett's son Foster is a known friend of Kirdi. "I'm a serious man," he said. "I'm not playing but my group said they didn't want to go public because we haven't done the deal."

No Points Penalty Possible For Reds, Say Premier League

The Premier League will not dock points from Liverpool if the club’s American owners’ company Kop Holdings goes into administration next week, it can be revealed.

There have been suggestions that if Tom Hicks and George Gillett block a £300m (€344m) takeover for the club by New England Sports Ventures, owners of the Boston Red Sox baseball team, then their holding company would be put into administration by the Royal Bank of Scotland over their unpaid £280m (€321m) debts.

That would not lead to an automatic points deduction for the Reds however – the Premier League have clarified the rules regarding parent companies so that if the club itself is a fully solvent entity – as Liverpool is – then the penalty clause should not apply.

A Premier League source said: “The aim of the regulations is primarily to capture clubs who have gone into insolvency. This is manifestly not the case with Liverpool Football Club.”

For example, last year West Ham’s Icelandic owners went into administration but that did not lead to any Premier League action as the club itself was solvent.

All prospective owners are obliged to give the league 10 days’ notice of a takeover and prove they have the funds to sustain the club.

Any prospective owners have to have a face-to-face meeting with league chiefs to convince them they have enough money for the season to come.

Juventus Linked With Liverpool Striker Fernando Torres

Juventus' search for a striker has widened to Merseyside with Liverpool hitman Fernando Torres firmly on the club's transfer agenda.

La Gazzetta dello Sport claims Torres is generating an increased interest from the Old Lady, who have also been linked with Wolfsburg forward Edin Dzeko and Real Madrid's Karim Benzema.

But Torres, 26, represents a decent target for Juventus, who have been encouraged to foster a January move given Liverpool's poor form in the Premier League.

The Reds are languishing in the relegation zone. Torres, like the rest of his team, has struggled for fitness and form. Fans have shown increased tension, and it could all boil over and lead to an exodus of players from the club.

The Spaniard fits the bill in Turin with Juventus eager to land an international striker with calibre and quality.