Liverpool owners dismay chairman

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  • xman
    Admin
    • Sep 2006
    • 24007

    Liverpool owners dismay chairman

    </span> Mr Broughton has spent months trying to find a buyer
    Liverpool chairman Martin Broughton is disappointed club owners George Gillett and Tom Hicks are not backing a bid from the Boston Red Sox owners.

    The takeover by the New England Sports Ventures [NESV] requires resolution of a legal dispute with the pair.

    It is understood the two think the approach undervalues the club.

    Mr Broughton told BBC business editor Robert Peston that "at the last moment when it does not pay them enough, they have chosen not to do it [sell]".

    'Good guys'

    </div> "I think it is a great pity that at the end of an extensive process that has been seeking a competitive bid, that they are not going to take the last opportunity to be the 'good guys' and pass on Liverpool to the right owners," he said.

    In an effort to block any sale and keep control of the club, the owners tried to replace managing director Christian Purslow and commercial director Ian Ayre with Mr Hicks's son, Mack Hicks, and Lori Kay McCutcheon, a vice-president at Hicks Holdings.

    Mr Broughton, as well as Mr Purslow and Mr Ayre, are now consulting lawyers over whether they can resist the owners' attempts to replace them and force through a sale.

    Former BA executive Mr Broughton was brought on board by Mr Hicks and Mr Gillett earlier this year at Anfield to find a buyer.

    He told our business editor he "understood their [Hicks and Gillett's] disappointment" that they were not going to get their money back.

    In fact, they may have to write off about &pound;140m if a reported sale of about &pound;300m goes through.

    'Serious entity'

    Mr Broughton also said the refusal to sell represented "one last throw of the dice" that could leave a "negative legacy" and "a very bad taste".

    He also said that unlike the current owners, the proposed new owners did not take part in "leveraged" buy-outs funded by borrowing.

    "They [New England Sports Ventures] are not leverage people," Mr Broughton said.

    He added that NESV was a "serious entity" made up of "serious investors", who ran a number of sports ventures.

    This article is from the BBC News website. ? British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.


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