In a time of economical difficulties in Europe, most people feel one way or another the presence of a recession. And this is no different for some soccer clubs, particularly Liverpool.
According to BBC Business, the Reds overall debt has gone up by a third from £65.4 millions in July 2011 to £87.
Former Liverpool co-owner Tom Hicks has been dealt a blow in his plans to sue the club after the
High Court ruled that he would have to bring his case to the UK, where it is highly unlikely he
will be successful in any pursuit to receive damages over the sale of the team.
Liverpool FC were sold last year after judge Mr.
LONDON, England Tom Hicks has won the right to launch a damages claim over the sale of Liverpool
yet the Reds are delighted with the High Court's verdict. High Court judge Mr Justice Floyd ruled
Hicks must bring any claims he has in the UK and is not able to pursue a lawsuit [...]
Liverpool have released a statement on behalf of their current owners Fenway Sports Group
(formerly NESV), former creditors the Royal Bank of Scotland and former chairman Sir Martin
Broughton in to express their collective delight at hearing that 'swindled' former owner (his
words, not mine) Tom Hicks has been thwarted once again in his bid to sue the club for over £140
million's worth of damages i.
The High Court in London has today allowed Tom Hicks, former owner of Liverpool FC, to sue for
damages against the club.
However, he can only pursue his claim within the EU.
It is believed that Hicks wants as much as £1 billion in damages as he previously claimed the sale
to NESV was "an epic swindle".
Tom Hicks, the man I hate more than some of my former bosses,has been in Court in London this week
attempting to overturn the International injunction against him and George Gillette pursuing
damages against NESV, Martin Broughton, RBS Holdings and LFC.The clearly deluded Texan believes
that he was swindled out of Liverpool Football club by the £300 sale to John W Henry of Fenway
Sports.
A judge has three months to hand down a written judgement on legal issues surrounding the sale of
Liverpool FC.
The latest stage of the legal battle ended at the High Court on Friday.
Mr. Justice Floyd must decide on a variety of issues that will affect what legal action can be
taken in future by former US owners Tom Hicks and George Gillett.
Tom Hicks is seeking £1bn in damages from former Liverpool directors and RBS over the forced
sale back in October. At the moment a court order preventing him from recovering damages is in
place. Fortunately it is unlikely that Hicks' claim will be successful. Hicks and Gillett bought
the club back in 07 for £220M and sold it for £300M to NESV on bad terms.
Liverpool's former chairman Sir Martin Broughton, the club's new owners New England Sports Ventures
and the Royal Bank of Scotland all did battle with the club's former owner, Tom Hicks, at the high
court on Wednesday.
Hicks wants to take his complaint against the enforced sale of the Premier League club, which he
claims cost him £140m, through the United States courts.
LONDON, England  - The court battle over the sale of Liverpool resumed Wednesday with the former
American co-owners seeking approval to pursue a $1.6 billion damages claim for what they called a
"giant swindle." The case in London comes as Liverpool's fortunes on the field have been revived
for the first time since Tom Hicks [.
Do you remember Tom Hicks and George Gillett? The two
rootin'-tootin' American business men that almost single-handedly ploughed Liverpool FC into the
terra firma by saddling the club with monstrous debts and elaborately convoluted payment
plans? The pair of ruddy-faced barnacles that dug in their spurred-heels and hung on for dear life
as the club slowly died on the vine, despite the fact that several conglomerate defibrillators were
reportedly waiting in the wings to revive it?
During the latter stages of the Hicks and Gillett era, the doom and gloom brigade (led by LFC
websites) was collectively foaming at the mouth over the (aparently inevitable) 9 point deduction
that was heading the club's way. Amid this ridiculous negative hysteria, this site was the *only*
source either on or offline that consistently argued that administration was never going to happen.
Another "quiet" week at Liverpool saw the confirmed resignation of  Managing DirectorÂ
Christian Purslow, although he will remain as a Non Executive Director and will also act as a
Special Adviser to the New England Sports Ventures (NESV). Purslow arrived at the club, with RBS
interaction, in June 2009 as a replacement for the out going Rick Parry.
After the sale of Liverpool to NESV, outgoing LFC owner Tom Hicks was interviewed by Sky Sports. I
couldn't find a transcript of that interview anywhere so I thought I'd create one myself.
Liverpool's former owners, Tom Hicks and George Gillett, have dropped a lawsuit filed just hours
earlier claiming up to $1.6bn (£1bn) in damages over the contentious sale of the club, but said
they will return to fight in the British law courts.
Liverpool said the club would be insulated from the effects of any lawsuit, which would have to be
aimed at the named directors of the holding company that was dissolved yesterday once the deal went
through, or at Royal Bank of Scotland.
John W Henry, the principal owner of New England Sports Ventures (NESV) and the Boston Red Sox
baseball team is now also the proud owner of Liverpool Football Club.
As expected the news early this morning was that the temporary restraining order obtained from
the Texas court by Tom Hicks and George Gillett, preventing Liverpool FC from completing a sale of
the club to NESV, would be lifted when the court re-opened in to ensure compliance with the High
Court in the UK.
Tom Hicks in an interview tonight has tried to portray himself as the fall-guy, the innocent victum
of a protracted sale to new owners NESV. "This was a very valuable asset that was swindled away
from me, my family are very upset." he claimed.
Has he forgot that he himself swindled Liverpool FC to the tune of £240 million to buy the club in
the first place?
Now that Liverpool FC is finally sold (!), it's time to take a look at what exactly has been sold,
and what debts/liabilities will be paid by off with NESV's £300m purchase money.
What company has been sold?
Q. Is it Liverpool Football Club and Athletics Grounds Ltd (LFCAGL) that has been sold, or is Kop
Holdings Ltd (KFL)?
The ongoing saga of Liverpool's ownership situation has reached fever pitch today! The deadline for
LFC's loan repyment to RBS is fast approaching; the Texas injunction filed by Hicks and Gillett has
been (allegedly) overturned; and there are rumours that Tom Hicks is trying to sell his shares in
the club to Mill Financial.
Early reports from Associated Press this morning indicate that when the 160th Judicial District
Court convenes in Dallas County, Texas at 7:00 this morning, the attorneys for the plaintiffs
(fronts for Tom Hicks and George Gillett) will move to have the temporary restraining order
preventing the sale of Liverpool to NESV withdrawn.
Reports claim Tom Hicks and George Gillett have now lifted the Texas court restraining order
preventing the Royal Bank of Scotland (RBS) from completing the sale of Liverpool.
ESPNsoccernet understands NESV have a banker's draft ready to dispatch to RBS before the 1700 BST
deadline on Friday to erase any lingering concerns about Liverpool going into administration.
As of this afternoon the future of Liverpool FC was, to a degree, back in the hands of the
Honorable Jim Jordan, Judge of the District Court of Dallas County, Texas, 160th Judicial District,
as attorneys for the Royal Bank of Scotland et al sought to have the temporary restraining order
preventing the sale of Liverpool FC to NESV lifted.
For the second time this week, the High Court has ruled in favour of Liverpool FC in the ongoing
fight for the club's future. Along the way, there have been some classic soundbytes from the
Barristers representing LFC and RBS. It's probably just me but I find condemnatory put-downs from
upper crust lawyers really funny; I just wish I'd been there to hear them in person.
The saga that is the Liverpool court battle continues and it doesn't look good for American
owners Tom Hicks and George Gillette.
A High Court ruling on Wednesday had paved the way for Liverpool to be sold for £300 million to
New England Sports Ventures (NESV) before Gillett and Hicks obtained a temporary block in a Texas
district court.
As the week has worn on, the situation concerning the ownership of Liverpool Football Club has
descended into chaos. With each passing day, the tug of war for the ownership of the club has
passed through low comedy, drama and bathos to the point that has started to feel exhausting. There
is too much information.
Lord Justice Floyd has today again ruled in Liverpool's favour in the court case to overrule an
injunction by Hicks and Gillett preventing the sale of the club.
On the defensive side of the game, the Seattle Sounders had three near iron-men. Three players
whose presence on the pitch made difference. Three men who highlight why this is a "defensive"
player rather than defender of the year vote.
Furthest up the pitch is Osvaldo Alonso, the Honey Badger.
Aston Villa and former US goalkeeper Brad Friedel has been declared bankrupt at a court hearing
in Macclesfield. Â The cause of Friedel's bankruptcy is a soccer academy he set up under his name
in Ohio in 2007.
It was meant to be a non-profit-making venture, but it lost money heavily and court documents
show Friedel and his company owed almost £5 million last August and lender RBS Citizens was forced
to take action.
Aston Villa and former US goalkeeper Brad Friedel has been declared bankrupt at a court hearing
in Macclesfield. Â The cause of Friedel's bankruptcy is a soccer academy he set up under his name
in Ohio in 2007.
It was meant to be a non-profit-making venture, but it lost money heavily and court documents
show Friedel and his company owed almost £5 million last August and lender RBS Citizens was forced
to take action.
Following the resignation of Liverpool managing director Christian Purslow, the Daily Telegraph can
disclose that club commercial director Ian Ayre has been dissuaded from leaving the club by their
new American owners New England Sports Ventures (NESV).
Ayre is understood to have been uncertain of his position at the club following the takeover and
tendered a letter of resignation to the club's owners on Tuesday.
With Liverpool fans putting the blame of their current dismal situation, dwelling in the
relegation zone, on their American owners, Sir Alex Ferguson questioned Rafael Benitez's input to
their financial situation.
"I don't know if Liverpool's current situation is anything to do with the financial
position," said Ferguson.
Liverpool's American owners suffered a further setback after a High Court judge ruled their
injunction to block the sale of the club was ineffective.
The ruling paves the way for the club to be sold to New England Sports Ventures (NESV) for £300m,
with an agreed deal likely on Friday.
On Wednesday, Reds owners Tom Hicks and George Gillett took out an injunction in Texas to block any
proposed sale.
Liverpool co-owner Tom Hicks remains in control of his share of the club and has not sold out to
Mill Financial.
In another twist to the Liverpool saga, reports earlier today had suggested the hedge fund, a
branch of Washington-based Springfield Financial, had acquired the Texan's 50 per cent share having
already taken ownership of his fellow co-owner George Gillett's half.
It seems the Tories simply can't get involved with altering contracts...it would be utterly
unthinkable for then to intervene in RBS boss Stephen Hester's bonus. This is definitely a tricky
one but the bottom line is that that bank is just not performing.
The interesting point for me is that whilst the Conservatives hold contracts in the financial
services sacred they just take it as a given they can totally rip-up the contracts of all those
public sector workers and their pensions agreementsSent using BlackBerry® from Orange
Beanie Wells, who seems to get injured every week, was injured again last week. He hurt his knee
and was limited in practice this week. However, the good news for the Arizona Cardinals is that
their starting running back is expected to play today against the Baltimore Ravens.
When healthy, Beanie Wells has been very good in fantasy football this season.
If 2010 ended up being frequently forgettable on the pitch, then away from it we saw a year
which combined the good, the bad and the ugly in almost equal measures. The year began with the
faint scent of revolution in the air. Old Trafford was revolting, but would anything come of it?
The answer, as it turned out, was no and, although season ticket sales at Manchester United during
the summer were sluggish and the famed waiting list for season tickets all but evaporated, the
Green & Gold protests can be deemed now to have broadly been a failure.
Arsenal History on Twitter @UntoldArsenal Untold Arsenal on Facebook here By Tony Attwood
Manchester IOU plod along their merry way, spending all their profit on interest and fees for the
owners. Liverpoodle (named after the annoying little dog favoured by rich Americans) have paid off
RBS, but are perhaps just a little red-faced by the [.
John W Henry, head of NESV has given some good news to Liverpool fans after he declared via
twitter that he is ready to fight Hicks & Gillett in court today.
All because the work day is over in England doesn't mean the day is over, and there's a hearing
in Dallas scheduled for 7PM GMT/1PM Central that may play a rather large roll in determining if the
sale goes through before the weekend or if Hicks can take advantage of the deadline set by the
English high court to block the sale from taking place this week.
