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Court decides Liverpool FC sale

Court decides Liverpool FC sale
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The worlds of football and high finance have collided at London’s High Court where judges are being asked to decide the fate of Liverpool.

The club’s supporters are no fans of its American owners – Tom Hicks and George Gillett – who are trying to block the club being sold to pay off its massive debts.

The fans want rid of Hicks and Gillett. Outside the High Court, one fan said: “There has to be change, it’s not just bad for Liverpool it’s bad for English football. People like this have to be out of English football.”

The court has to decide if the sale of Liverpool by its board of directors is legal.

Hicks and Gillett have argued the board was not acting in the best interests of the club when it agreed to sell to the US company which owns the Boston Red Sox baseball team, as there were other potential bidders.

Backing the sale is the Royal Bank of Scotland, which lent the money to Hicks and Gillett to buy Liverpool in 2007 and want it back – 230 million euros is due to be repaid on Friday.

Meanwhile, Singapore billionaire Peter Lim complicated things further by saying he want to buy Liverpool and would pay more than the Boston Red Sox owners.

Lim also said he would make a further 45 million euros available for new players, which would please the fans as Liverpool is struggling on the field as well as financially.

The court case will go a long way to determining whether the debt-burdened club goes into administration.