Friday, October 8, 2010

Liverpool 'can show Tom Hicks and George Gillett lied' over loading debt onto club

By JOHN EDWARDS

Protest: Liverpool fans demonstrate their anger at the American pair


Liverpool are ready to try to destroy the credibility of Tom Hicks and George Gillett by portraying them as liars at the beginning and end of their controversial three-and-a-half year Anfield reign.

Chairman Martin Broughton will produce written evidence at the High Court that Liverpool's co-owners acted illegally in attempting to sack board members Christian Purslow and Ian Ayre and block the proposed £300million sale to New England Sports Ventures.

Hicks denied on Thursday that he gave Broughton power over boardroom changes and selling the club, but Liverpool say they can prove him wrong.

And in a move that could be devastating for the Americans, Broughton is expected to show that they falsely promised, in February 2007, not to pile debt on the club.

Shortly before seizing control, they wrote to shareholders to say that repayment of debt 'would not, to any significant extent, depend on the revenues of the club'.

Purslow was a shareholder at the time, and it is understood the pledge could come back to haunt Hicks and Gillett, with Liverpool's lawyers Slaughter and May ready to discredit them.

They will argue that there is even a threat of a nine-point deduction, should the Royal Bank of Scotland put the club into administration for missing next Friday's repayment deadline.


See you in court: George Gillett (left) and Tom Hicks are set for a High Court date with club chairman Martin Broughton over the sale of the club


Anfield insiders are confident it will not come to that, with RBS prepared to wait for the outcome of any appeal, knowing that NESV will pay up as soon as they become owners.

Even if Hicks and Gillett win, RBS will take action against them if, as seems certain, they fail to settle their debt in time.

It is understood that RBS could take control of the club and sell it to NESV under the current terms.

The Premier League have revealed that NESV had passed their owners' and directors' test, and former Anfield defender Steve Nicol hailed them as ideal owners.

Nicol, who has been coaching MLS side New England Revolution since 2002, the year NESV took over the Red Sox, said: 'They have protected and nurtured the history and tradition of one of America's beloved teams, while bringing championships to the franchise. This is the type of ownership to take the club back where it rightfully belongs.'

Liverpool legend Ian Rush said: 'We are all in it together, owners and management, players and supporters. If we are all fighting each other, it will not work.'


source :dailymail