LONDON — Liverpool's ownership battle headed back to the High Court on Thursday, a day after a Texas judge granted an injunction blocking the club's sale to the owners of the Boston Red Sox.
American owners Tom Hicks and George Gillett Jr. obtained a last-minute court order in Dallas on Wednesday blocking the 300 million pound ($476 million) sale to New England Sports Ventures — just as the Liverpool board was set to approve it.
Hicks and Gillett called the attempted sale an "epic swindle" that undervalues the storied Premier League club and said they were suing for $1.6 billion in damages. A court hearing in Dallas is set for Oct. 25.
Liverpool chairman Martin Broughton told Sky Sports News on Thursday that Hicks and Gillett are "trying every trick" to prevent the deal from going through.
On Wednesday, before the Texas court injunction was issued, High Court Judge Christopher Floyd ruled against Hicks and Gillett in their attempt to block the sale. Debts and liabilities resulting from their leveraged purchase of the club three years ago have grown to around 285 million pounds ($453 million), which is owed to Royal Bank of Scotland and Wells Fargo by Friday.
The case will go back to Floyd on Thursday afternoon as the Liverpool board and RBS try to push the sale through.
Two others bids emerged this week — one from Singapore businessman Peter Lim and another from an American hedge fund Mill Financial. Wednesday's court hearing heard there was also a bid from FBR Capital Markets for between 375 and 400 million pounds ($595 million to $635 million).
Lim, who originally matched the Boston offer, made an improved bid Tuesday of 320 million pounds plus 40 million pounds for player transfers.
If Liverpool's sale is delayed, the club could fail to meet Friday's deadline to repay its debts to RBS. If Liverpool is put into financial administration, a form of bankruptcy protection, the club would be docked nine points by the Premier League. However, it seems unlikely that RBS would take the club into administration at this point.
Liverpool, an 18-time English league champion, is currently mired in the relegation zone after its worst start to a league season since 1953.
John Henry, the financier who heads NESV, attended the hastily called board meeting in London on Wednesday night hoping to quickly complete the sale. However, he left through a back entrance to the law firm offices in the early morning hours, ignoring reporters' questions.
