Premier League gives green light for NESV sale

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Premier League gives green light for NESV sale

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The English Premier League granted New England Sports Ventures (NESV) approval to continue their proposed takeover of Liverpool on Friday.

But the club’s future looks certain be settled in court.

Friday’s decision paves the way for John Henry, owner of the Boston Red Sox baseball team, to continue with a deal to buy England’s most successful club for £300 million.

The 61-year-old businessman has been lauded in the United States for ending the Red Sox’s 86-year wait for a World Series title, clinching championships in 2004 and 2007.

But Henry’s bid to bring the same fortunes to Mersyside could be undone by Liverpool’s current owners Tom Hicks and George Gillett who are trying to block the deal which they say undervalues the club – despite being outvoted by Liverpool’s board in agreeing the sale.

A High Court in london will decide next week over whether the club can be sold to NESV.

If a sale is not completed by 15 October Liverpool could be put into administration by the Royal Bank of Scotland as a result of their £280 million debts.

Liverpool have already suffered their worst start to a Premier League season. After seven matches the 18-times champions are in the bottom three with six points.

If the club goas into administration it could add insult to injury by triggering a nine-point penalty under Premier League rules.