Oct 6, 2010, 6:30 AM EDT
Liverpool FC of the English Premier League has agreed to be purchased by New England Sports Ventures, better known as the parent company of the Boston Red Sox. I’m going to refer to this as the Red Sox buying into the EPL, however, because it’s simpler and makes the story more interesting to me even if it’s arguably misleading. You want accurate news? Listen to NPR.
Anyway, you may recall that Liverpool is the club owned by former Rangers owner Tom Hicks. You may also recall that Hicks’ ventures into EPL ownership have been an utter disaster. It’s been claimed that Hicks’ adventures in English soccer had nothing to do with his problems with the Rangers, but even if you believe that, such adventures were evidence of some serious mission creep on Hicks’ part. You’d think that, based on his experiences, any other American baseball mogul/soccer novice would stay the hell away from the EPL.
But based on the linked story anyway, it may not be a bad move for the Red Sox. Seems that if the deal goes through they’d be getting the club for the price of the outstanding debt. Which, while still a lot of money, is way, way less than other EPL teams have gone for, and what Hicks reportedly wants for the team.
Which is also what may sink the deal. Hicks, the majority shareholder, is reportedly unhappy with the cut rate price to which the board has agreed. I know even less about English corporate governance than I do about soccer, but I’m not exactly sure how a board of directors can force a majority shareholder to give up his stake and, if he’s not doing so, how can one purchase a controlling interest in the team?
Oh well, that’s what lawyers are for. Or solicitors. Gosh, I hope this becomes a big story with baseball implications, because I’d love an excuse to start spelling things wrong (“Hicks won’t honour the agreement . . .”) and using phrases that my Anglophile friends use like “full stop” and “bloody.”
- The Marlins are going to change everything except their biggest problem this offseason 43
- Drooling over Miguel Sano’s incredible numbers through 50 career games 33
- Matt Williams puts up another strong performance in his quest to get himself fired 103
- Settling the Scores: Tuesday’s results 81
- Yankees reveal Mark Teixeira’s shin injury is “more than we thought” 16
- There’s a chicken pox outbreak in the Royals’ clubhouse and multiple players are infected 28
- Shoeless Joe Jackson is not being reinstated 67
- And That Happened: Monday’s scores and highlights 66
- Sarah Palin sticks up for Curt Schilling, tells ESPN to “stick to sports” (266)
- Matt Williams puts up another strong performance in his quest to get himself fired (104)
- Why Mike Mussina keeps getting hosed in the Hall of Fame voting (89)
- And That Happened: Thursday’s scores and highlights (87)
- Settling the Scores: Tuesday’s results (81)