Liverpool takeover: John W Henry reassures fans over club's future as High Court case opens

12 October 2010 11:04
The 61 year-old owner of the Boston Red Sox baseball franchise is awaiting a High Court decision before he can complete a £300 million purchase of Liverpool. [LNB]That legal process has begun in London this morning where the club's major creditors Royal Bank of Scotland take current owners Tom Hicks and George Gillett to task over their attempts to change the structure of the board contrary to previously-agreed undertakings. [LNB] Related ArticlesLiverpool go to the High CourtUnited fan could take over LiverpoolThe battle for AnfieldNESV could walk away from Liverpool dealLiverpool sale: timelineLiverpool court case to begin on TuesdayHenry is keeping a close eye on developments but he will not comment on the ongoing situation. [LNB]However, in a move which will immediately endear him to supporters who have witnessed the 'at arms length' leadership of Hicks and Gillett he has started to engage with fans via the social networking site Twitter. [LNB] "Hello LFC supporters," he opened up with this morning. [LNB]That undoubtedly brought a barrage of questions and comments to which he responded: "Thanks Yes, everyone is hoping for the best. There have been enough twists and turns. Hopefully all gets sorted out soon; LFC moves forward. [LNB] "It would be inappropriate and presumptuous at this time to respond to questions. In the interim, we're all rooting for the same thing." [LNB]Interestingly Henry, who has intimated he wants to engage with fans, is following the Spirit of Shankly pressure group, who have been so vociferous in their opposition of Hicks and Gillett, on the site. [LNB]Most legal experts believe RBS will win their case, which is based around whether chairman Martin Broughton acted correctly in refusing to accept Hicks' attempt to change the composition of the board in order to block the takeover by Henry's New England Sports Ventures group. [LNB]The bank yesterday issued a statement in which they stated that Hicks and Gillett agreed to "contractual undertakings" in relation to corporate governance arrangements back in April and they were now in breach of those. [LNB]Should RBS lose there is the chance the club could be put in administration, possibly incurring a nine-point deduction. [LNB]Former striker John Aldridge admits if it came to that option he would take it to be rid of the current owners. [LNB] "It should come as no surprise that Tom Hicks is trying every trick in the book to hang on to his stake in the club and he is resembling a dog with a bone he just won't let go," he wrote in the Liverpool Echo. [LNB] "All we can hope and pray is that things go our way in the High Court of Justice and I'm sure Liverpool have enlisted the best legal minds in the business to help. [LNB] "But if we lose, I would still be happy to take the ignominy of going into administration and a nine-point penalty from the Premier League if it ultimately led to Hicks and Gillett being jettisoned. [LNB] "They have made Liverpool a laughing stock and if they happened to lose £140m, as it is being reported, nobody would laugh more than me. [LNB] "You have to remember that not so long ago, Hicks was bragging in the Wall Street Journal that Liverpool would be his best ever piece of business. [LNB] "All they wanted to do was fill their pockets full of cash; never once did they think about the feelings of supporters who Hicks has now described as 'a noise we are dealing with'. [LNB] "Shame on him. People might wonder whether Liverpool would be able to withstand a nine-point deduction and fear that relegation would become a reality yet I'm absolutely convinced we would finish 10 points clear of the drop zone. [LNB] "But let's not think that way. Let's just hope that come the weekend Hicks and Gillett will be gone and we can all finally start to move forward again." [LNB]

Source: Telegraph