Wednesday, 13th October 2010
The saga of just who will own Liverpool Football Club has been continuing throughout the day and there have been more twists and turns. Earlier today, at the High Court in London, Judge Floyd ruled in favour of the Royal Bank of Scotland and ordered the club’s board to be reconstituted with directors Christian Purslow and Ian Ayre. This also ensured chairman Martin Broughton could complete the sales process.
Liverpool then moved to hold a board meeting this evening in London, where the deal they had previously agreed with New England Sports Ventures (NESV), who own the Boston Red Sox, was expected to be ratified. The deal looked closer to completion than ever when NESV owner John W Henry arrived in London to attend the board meeting.
However, when word was spilling out that Liverpool were preparing to announce that their deal with NESV had been ratified by the board, co-owners Tom Hicks and George Gillett announced that a court in Texas had granted a temporary injunction stopping the sale of the club. The American duo also confirmed they were claiming £1 billion in damages for what they have branded an "epic swindle".
The question which is now posed is what, if any, jurisdiction does a court in Dallas, Texas, have over the sale of an English football club governed by English law. While the answer is most probably none, the effect on potential purchasers NESV, who are themselves American, is less clear, and it remains to be seen whether they will halt their takeover.
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