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Red Sox owner John Henry buys Liverpool soccer team for $476 million

Oct 15, 2010, 12:18 PM EDT

Martin Broughton,  John Henry, Christian Purslow

New England Sports Ventures, which is a group headed by Red Sox owner John Henry, has officially purchased the Liverpool soccer team in the Premier League.

Henry told the London Telegraph that he’s “proud and humbled” by the 300-million pound sale and “guaranteed” that New England Sports Ventures will not be participating in a leveraged buyout, saying: “We have a lot of work to do, but we’re here to win.”

Liverpool’s former owners, Tom Hicks and George Gillett, were thwarted in their attempts to block the sale, but reportedly now plan to pursue legal action and called their removal as owners “an extraordinary swindle.” Hicks is the same guy who owned the Texas Rangers until the team went into bankruptcy and was sold to a group led by Chuck Greenberg and Nolan Ryan.

After learning that the ownership change had been completed Liverpool manager Roy Hodgson said: “A cloud has been lifted from this football club.”

  1. IdahoMariner - Oct 15, 2010 at 12:21 PM

    okay, I’m a Mariner fan (obviously) but Tom Hicks’ continued demise makes me happy. Because I am not a fan of a**holes.

  2. JM87 - Oct 15, 2010 at 12:26 PM

    I don’t know much about soccer finances, or about the game itself for that matter. But it seems to me that Henry got a bargain. I figured a storied EPL team would be worth much more?

  3. Jason @ IIATMS - Oct 15, 2010 at 12:59 PM

    Liverpool can now be described as “gritty” and “gamers”.

    Hicks blames ARod for losing the bidding.

  4. BC - Oct 15, 2010 at 1:09 PM

    Apparantly today was the day that Hicks and Gillett had to come up with $456 million to repay Royal Bank of Scotland, and it sounds like RBS basically forced the sale to go through.,0,5397054.story

    • adrianbk - Oct 15, 2010 at 2:01 PM

      Henry did get a steal in terms of a brand name and recognition, but thanks – partly – to Hicks and Co’s business acumen – but also to 15 years of mismanagement and failure to invest in the Anfield stadium. Ignoring the emerging Asian fan base which is a huge market have left the club, which was dominant in the 70’s and 80’s, at just above mid-table in the Premiership popularity stakes and near the bottom in terms of results this season.
      To be fair to Hicks, he bought the club in early 2008 just as the markets went south and apart from the bank leveraged debt – he did put in about £120m with his partner. But what a muppet. He spent 2 years competing for control, not speaking to the other partner and supporting a mediocre manager who was spending money like it was water. ya..but you are welcome to have him back

  5. apbaguy - Oct 15, 2010 at 3:14 PM

    Hicks also “refinanced” pulling money out-which he pocketed-then claimed to the UK High Court that the LFC sale would represent a “total loss” to him. That kind of nonsense obviously worked in the US and in the Dallas District Court, but thankfully it fooled absolutely nobody in the UK this time. There is nothing good to say about Hicks and his tenure with the Rangers and the EPL. Good riddance

    • adrianbk - Oct 15, 2010 at 4:45 PM

      He astonishingly managed to have the Texas case heard by the district court judge Jim Jordan, ( despite the ruling in the High court in London the day before) who I believe Hicks had helped bankroll the application for his run at the Texas Supreme Court.
      Some things never change with old Hicks.
      Just as well his legal aides didn’t show up in court in England the next day when the Texas injunction was thrown out lickety split, as they would have had to have defended the indefensible. The judge -Mr Justice Floyd – used the words poppycock and incorrigible to describe Hicks, his legal team and the Texas ruling.
      Good riddance indeed

      • apbaguy - Oct 15, 2010 at 7:05 PM

        It is unfortunate that in some states district judges are elected. That usually means they must be re-elected periodically, making them beholden to their main contributors, rich people like Hicks. Poppycock isn’t the word I would have used, corrupt and contemptible are more fitting, but all’s well that ends well.

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