"NESV buys Liverpool for £300m following a high court battle during which the club's existing owners, Tom Hicks and George Gillett, tried to block the sale"
On 13 Oct 2013
[article=http://www.theguardian.com/football/blog/2010/oct/13/liverpool-sale-high-court-verdict-live]
• This morning a high court ruled against Tom Hicks and George Gillett's attempt to block the sale of Liverpool FC by RBS to NESV.
• The judge told Hicks and Gillett it would be inappropriate to appeal against his decision.
• Martin Broughton, Christian Purslow and Ian Ayres attempted to press home the NESV deal.
• At the same time Singapore businessman Peter Lim maintained his interest in purchasing the club.
• A board meeting to ratify the sale of Liverpool to NESV was held at Slaughter and May's offices in London at 8pm. Just before the meeting NESV's John W Henry turned up out of the blue at the meeting, supposedly indicating the deal was a mere formality.
• Then we waited a bit.
• And then a Texas court granted Tom Hicks and George Gillett's appeal for an injunction to be placed on the sale of Liverpool FC to NESV.
• The pair also revealed they are claiming damages of $1.6bn against the three Liverpool board members, RBS and NESV.
• Liverpool later released a statement calling the TRO "unwarranted" and "damaging", and intend to get it removed as quickly as possible. They still hope to conclude the deal with NESV.[/article]
[article=http://www.mirrorfootball.co.uk/opinion/blogs/mirror-football-blog/Liverpool-takeover-timeline-All-the-key-moments-in-the-battle-for-the-Reds-from-David-Moores-to-John-W-Henry-via-Tom-Hicks-and-George-Gillett-article600381.html]
March - Thailand Prime Minister Thaksin Shinawatra is revealed to be interested in buying a stake in the club.
May - Shareholder Steve Morgan claims he has had two bids to take over the club turned down.
June - Shinawatra ends his interest in Liverpool.
August - Liverpool reject another takeover bid from Morgan.
December - Morgan abandons proposed takeover.
2006
December - Liverpool confirm they have "entered into a period of exclusive negotiations with Dubai International Capital about a possible investment".
2007
January - Liverpool reveal American businessman George Gillett has made an approach "which may or may not" lead to a takeover offer. Liverpool board meet to discuss Gillett proposal after deciding not to formally accept DIC bid. DIC pull out of takeover.
February - Tom Hicks emerges as joint bidder with Gillett. Liverpool agree to the terms offered by Gillett and Hicks to purchase the club's entire issued share capital.
March - Gillett and Hicks' Kop Football announces to the Stock Exchange they have met the acceptance condition of 75% required to secure unconditional control of the club. Gillett promises work on the new Stanley Park stadium will begin immediately, stating; "the spade needs to be in the ground within 60 days".
November - Manager Rafael Benitez and the owners publicly fall out over transfer targets. Gillett and Hicks tell Benitez to "concentrate on training and coaching the players he already has".
2008
January - Hicks admits they had made an approach to former Germany manager Jurgen Klinsmann, with a view to replacing Benitez.
April - It emerges that Gillett and Hicks are barely on speaking terms, making future planning at the club almost impossible.
2009
March - Chief executive Rick Parry, having been criticised by Hicks months earlier, announces he will be leaving the club at the end of the season.
June - Financial expert Christian Purslow is appointed managing director and tasked with finding £100m of fresh investment to help satisfy Liverpool's creditors with debts reported to be £237million.
2010
January - Tom Hicks Jnr resigns from the board after a foul-mouthed email rant at a fan. As a result commercial director Ian Ayre and financial director Philip Nash are added to the board.
March - New York based private equity firm the Rhone Group make £110million bid for a 40% stake in Liverpool but Hicks and Gillett fail to respond within the deadline.
April - Hicks and Gillett put the club up for sale, and announce the appointment of Martin Broughton as interim chairman to oversee the sale. A requirement of major creditors Royal Bank of Scotland is a change on the new board, with Broughton, Purslow and Ayre having a majority vote to prevent the Americans blocking a sale.
May - Financial results for the year ending July 2009 show the club made a record pre-tax loss of £54.9million, with interest repayments on loans undertaken by Hicks and Gillett accounting for £40.1m of that.
October 4 - Liverpool announce they have received two "excellent" bids. Hicks and Gillett try but fail to oust Purslow and Ayre to prevent a sale. The Americans claim the bids undervalue club and pledge to fight for a fair price.
October 5 - Liverpool confirm they have accepted a bid, believed to be £300million, from New England Sports Ventures, who also own the Boston Red Sox baseball team. Sale would clear all acquisition debt but is subject to possible legal challenge from the owners and Premier League approval.
October 8 - RBS secure temporary injunction preventing Hicks or Gillett making any changes to the board. Premier League give approval for NESV to become new owners.
October 12 - RBS v Hicks and others hearing is held in High Court. The bank claim breach of contract, the owners claim the board have not considered all offers for sale of the club. Hearing is adjourned for a decision to be made the following day.
Singapore businessman Peter Lim submits new £320million bid and pledges £40million for January transfer window. Mill Financial, now the owners of Gillett's 50% share after he defaulted on a loan, also express interest in purchase, claiming their offer would also include £100million towards new stadium.
October 13 - The High Court grants injunctions that could open the way for the prompt sale of the club. Tom Hicks and George Gillett's plea to delay the hearing of an application by creditors Royal Bank of Scotland (RBS) for mandatory orders paving the way for a possible sale was rejected by Mr Justice Floyd, and the Americans were refused the right to appeal.
NESV's John Henry attends a Liverpool board meeting in London with the sale of the club set to go through.
Hicks and Gillett refuse to accept the High Court ruling and release a statement saying a Texas State District Court "has granted a temporary restraining order" preventing the board from selling the club to NESV, with a hearing date set for October 25.
Liverpool's directors believe the restraining order is "unwarranted and damaging" and will seek to have it removed "as swiftly as possible".
October 14 - RBS return to High Court to challenge restraining order. Mr Justice Floyd again rules in the bank's favour, stating "This case has nothing to do with Texas."
The judge gives Hicks and Gillett until 4pm BST on October 15 to comply.
October 15 - NESV complete the purchase of Liverpool.[/article]
How would you rate our progress under FSG (then NESV) and their ownership of the club thus far?
