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Liverpool face boardroom war over club's sale

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Liverpool face boardroom war over club's sale

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Debt saddled Liverpool Football Club has approved the sale of the reds to New England Sports Ventures, owners of the Boston Red Socks, for around 350 million euros.

However, it is not a done deal – the current owners, Tom Hicks and George Gillet, have rejected the offer and hired lawyers to block the move.

The Americans claim that non-owner directors do not have the power to sell the club, especially at a price which they believe “dramatically undervalues” Liverpool’s worth.

Time is running out as the Royal Bank of Scotland, expects Hicks and Gillet to repay loans of 320 million euros by October 15.