LFC sold

It’s a fateful day for Liverpool Football Club, which today agreed a takeover offer from US businessmen Goerge Gillett and Tom Hicks. The deal has an enterprise value of £218.9 million and includes undertakings by the pair to build and finance the planned Stanley Park Stadium, LFC’s new home, and also provide an undisclosed sum for transfers on a yearly basis.  The US pair, through an investment vehicle appropriately named Kop, were preferred by Chairman David Moores and Chief Executive Rick Parry over a previous bid from Dubai-government backed DIC. Moores has accepted the role of Honorary Life President of LFC and the current football management is to remain in place. ITV also said on Tuesday it had agreed to sell its 9.99% share for £5,000 a share, as part of the deal. Hopefully the deal means that Liverpool, already the UK’s most successful football club with 5 European Cups, 18 league titles and many more honours, can match its enviable history to the financial clout of Manchester United and Chelsea. Liverpool is currently third in the Premiership league table, behind Utd and Chelsea.

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