Premier League approves Liverpool takeover

The English Premier League confirmed it has approved the bitterly contested takeover of Liverpool by US-based New England Sports Ventures.

Last Updated: Oct 08, 2010, 23:29 PM IST

London: The English Premier League confirmed it has approved the bitterly contested takeover of Liverpool by US-based New England Sports Ventures.

A statement from the Premier League said the body had given the go-ahead to the deal, meaning only a pending legal challenge to the takeover by owners Tom Hicks and George Gillett stands in the way of the sale.

The Premier League said it gave its approval after receiving details of the company which would control Liverpool and the make-up of the new board.

"The Premier League is satisfied, with the information provided, that the individuals NESV intend to put in place in the event they complete their takeover of Liverpool FC meet the criteria set out in our owners` and directors` test," the statement said.
"The board of the Premier League will continue working with Liverpool FC in regard to this process, however, we are aware that the formal completion of this takeover is yet to be resolved and it is therefore inappropriate for us to offer any further comment at this time."

Liverpool chairman Martin Broughton has said he is confident of the deal going through despite legal action from Hicks and Gillett to stop the proposed 300-million-pound (475-million-dollar) sale.

"I am confident we will prevail, but you can never be 100 percent when you go to court," Broughton said.
The battle for control of the most successful club in English history is likely to go to the High Court in London next week.

Bureau Report