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Tuesday, February 6, 2007

Yanks Buy Majority Stake in Liverpool FC

In another positive development for World Football, two American sports owners, George Gillett, and Tom Hicks, have reached an agreement to purchase the Liverpool Football Club. Both men own NHL franchises: The Dallas Stars for Mr. Hicks, and the hallowed Montreal Canadiens for Mr. Gillett. Mr. Hicks also owns the Texas Rangers baseball team. This deal appears to be the first time that rival American owners have partnered to buy a team in a completely different sport.

According to the BBC, the deal was valued at £218.9m, or about US $425 million dollars. This includes almost 45 million pounds in debt.

"We have purchased the club with no debt on the club," said Gillett. "We believe in the future of the club, the future of the league, the new TV contracts are outstanding and we are proud to be a part of it. "This is truly the largest sport in the world, the most important sport in the world, and this is the most important club in the most important sport in the world." (1)

The new owners will leave CEO Mr. Rick Parry to manage the daily activities of one of the best known soccer teams in the world. With this purchase, three EPL teams are now owned by Americans.

Reference

(1) US Pair Agree Liverpool Takeover. BBC, 06 February 2007.



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