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Liverpool sale still hangs in the balance

(China Daily)
Updated: 2010-10-15 08:19

John W Henry from the New England Sports Ventures (NESV) who are proposing to buy Liverpool soccer club, leaves the offices of a law firm in London October 14, 2010. [Photo/Agencies]

'Justice done'

Earlier in the day, fans wearing the club's red shirts and scarves had pushed with journalists to get into the tiny oak-paneled court room to hear Justice Floyd deliver his almost hour-long verdict.

The stone corridors around Court 18 were also teeming with spectators straining to hear and make sense of the judgment.

"We're delighted with the result," chairman Martin Broughton said after emerging from court, shouting over the noise of singing fans. "Justice has been done. This will clear the way for the sale."

The ownership battle engulfing one of the world's most famous sporting institutions ended up in court after Hicks and Gillett tried to sack members of the board last week in a another late bid to keep control of the club.

The judge said the pair had been guilty of the "clearest possible breach" of corporate governance rules and did not grant the pair the right to appeal, although they can still go to the Court of Appeal.

NESV maintained this week that it had a binding agreement to buy the club.

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

If the repayment date with major creditor the Royal Bank of Scotland had been missed, the five-time European champion could have been put into administration and docked nine points.

Reuters