Exclusive: Open warfare at Liverpool as board approves two bids for the club
Published 23:01 05/10/10 By David Maddock
The owners of baseball's Boston Red Sox are one of two rivals bidders who have had outline offers for Liverpool approved by the club's board.
But late last night, American owner Tom Hicks declared open warfare on the dissident directors and club's fans with an attempt block the proposed sale, by replacing two directors with his son and a Hicks Holdings employee.
On another day of intense drama at Anfield, it emerged that the MD Christian Purslow, Commerical Director Ian Ayre and chairman Martin Broughton had outvoted Hicks and business partner George Gillett, in sanctioning the bids - one from Red Sox owners John W Henry and TV tycoon Tom Werner, the other by a rival Asian consortium.
Both offers value the club at around £300million, and the non-American directors are satisfied that one of the bids is the best solution to the ongoing financial problems that have brought the club to the brink of bankruptcy.
They met yesterday to consider the two bids, and were due to hold further meetings today to decide on their preferred offer and plot a route forward, which would bypass the Americans, and sanction one of the bids.
But Hicks and Gillett are refusing to accept the £300million valuation, which is half the figure they have placed on the club.
Last night, even as a sale which would end their reign was about to be approved, they took steps which will incense the club's fans by effectively sacking Purslow and Ayre.
The move is a clear indication of their plans to ride roughshod over the wishes of the fans, and the agreements set out by the RBS when the club's current financers arranged an extension of finance.
A statement last night from the club confirmed the two offers, and also revealed the lengths that Hicks is prepared to go to in an attempt to cling on to power at Anfield and drive the price up.
"The Board of Directors have received two excellent financial offers to buy the Club that would repay all its long-term debt," the statement read.
"A Board meeting was called today to review these bids and approve a sale. Shortly prior to the meeting, the owners - Tom Hicks and George Gillett - sought to remove Managing Director Christian Purslow and Commercial Director Ian Ayre from the Board, seeking to replace them with Mack Hicks and Lori Kay McCutheon.
"This matter is now subject to legal review and a further announcement will be made in due course. Meanwhile Martin Broughton, Christian Purslow and Ian Ayre continue to explore every possible route to achieving a sale of the Club at the earliest opportunity."
The RBS have set an October 15 deadline for the Americans to repay loans totally more than £200million, and have made clear they will refuse any request for refinancing.
So far, Hicks has failed in his desperate attempts to find alternative funding, and it is believed his move last night to put his own people on the board is designed not only to block any sale at a low price, but also to give him the power to use the club's assets as collateral against new loans.
The directors, though, are determined to resist that move. They will now pursue legal action to enforce their right to remain in control and decide on who to sell to, even if the offer is below the Americans' vaulation.
The hope of the board is that the RBS will stick to their plan of taking control of the sales process, and with it the club, allowing the current board to force through acceptance of the offer considered the 'best fit' for Liverpool, even if that is the lowest offer.
Both the American bid and the rival offer from Asia have provided evidence they will clear the current debt placed on the club, and put into place conditions which will allow the construction of a new stadium.





