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Victorious Liverpool FC board to meet tonight to discuss sale of club

Wed 13th Oct 2010 | Legal

Liverpool Football Club could soon be in the hands of NESV after Lord Justice Floyd ruled in favour of RBS.

 

The case which began at 11.25am yesterday, lasted nearly 6 hours and was settled this morning in court room 18, at the request of RBS imposed injunctions on the Hicks and Gillett requiring them to restore the original constitutions of the companies and managing directors.

 

After an intense day of evidence and deliberations the ruling now clears the way for NESV to continue its negotiations to takeover the club although it is understood that other bid may also be considered.

 

Chairman Michael Broughton, who was greeted by cheering Liverpool fans when he left court commented: “We are delighted with the result. We feel justice has been done. That's what we came for and that's what we got. We are delighted.

“The board has to be reconstituted and I can't prejudge what the board is going to say. It would be inappropriate to prejudge what the board may say, he continued

“But the club's going to have a great future. We will re-establish the right basis for the club.

"The acquisition debt that has been plaguing us will be gone, we have a great future. We will get the right owners for the fans."

Mr Justice Floyd declined Hicks and Gillett’s request for an appeal stating it would be ‘inappropriate to appeal’ given the circumstances.

A meeting is now scheduled to take 8pm with the reconstituted board to discuss the takeover of the club with NESV the forerunners.

However it is likely that Peter Lim, who made an offer yesterday and that of Hedge Fund, Mill Finance will also be carefully considered.

John W Henry, who heads the NESV consortium, celebrated the High Court verdict through his Twitter account and praised Broughton managing director Christian Purslow and commercial director Ian Ayre.

Henry wrote: "Well done Martin, Christian & Ian. Well done RBS. Well done supporters!"

NESV said in a statement that it had a "binding agreement in place with the Board of Liverpool FC".

It went on: "We are ready to move quickly and help create the stability and certainty which the club needs at this time. It is time to return the focus to the club itself and performances on the pitch."

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