NESV complete takeover of Liverpool football club

New England Sports Ventures (NESV) have completed their takeover of Liverpool football club.

The deal was able to go ahead after Tom Hicks and George Gillett removed a restraining order they had been granted in a Texas district court on Wednesday evening.

Hicks and Gillett are still preparing to sue the club for $1.6billion in damages from the club, claiming that the deal is ‘illegal’ and represents an ‘extraordinary swindle’.

The completion of the NESV deal will allow Royal Bank of Scotland (RBS), Liverpool’s main creditors, to be paid the £237million they are owed on Friday.

The club are now highly unlikely to be put into administration, something that would have incurred a nine-point deduction in the Premier League.

Hicks was believed to have been negotiating the sale of his shares with American hedge fund Mill Financial, but a request by Mill Financial to undergo a fit and proper persons test was rejected by the Premier League, who said that they could only negotiate with the Liverpool board.

The board – comprising of Independent chairman Martin Broughton, Christian Purslow and Ian Ayre as well as Hicks and Gillett - had already voted 3-2 to accept a bid from NESV, who will now gain control of the club