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.”
- And That Happened: Thursday’s scores and highlights 17
- Report: Zack Wheeler expected to make 2-3 starts in minors before joining Mets 16
- And That Happened: Wednesday’s scores and highlights 112
- Astros vendor brings snow cones into bathroom stall, gets fired 58
- Don Mattingly will still be the Dodgers’ manager on Friday 18
- MLB is putting players in camouflage uniforms on Memorial Day. Which is kinda weird. (118)
- Barry Bonds: Miguel Cabrera is the best … but not as good as me (114)
- And That Happened: Wednesday’s scores and highlights (112)
- Las Vegas police investigating Jose Canseco as a suspect in sexual assault case (80)
- Albert Pujols doesn’t matter anymore (74)
- Struggling Blackhawks on brink of elimination
- PHT: Wings push Blackhawks to brink | Highlights
- PHT: Kreider keeps Rangers alive | Highlights
- PHT: Kings defend home ice, up 3-2 | Highlights
- PBT: Hibbert says Battier's knee to groin intentional
- OlyTalk: Lochte says Phelps will return soon
- CSN: Francona returns to Boston | Legacy?