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 Posted by ESPN Staff
Feb 5, 2007

Liverpool takeover could go through on Tuesday

The £470million takeover of Liverpool by two American tycoons could go through as early as tomorrow.

Further progress was been made today on the offer made by George Gillett and Tom Hicks, who both own NHL teams and an announcement is expected within the next couple of days.

If all the details are tied up in time, the club could even announce to the Stock Exchange tomorrow that chairman David Moores has agreed to sell his majority shareholding to the Americans.

Hicks, who also owns the Texas Rangers baseball team, joined forces with Gillett to gazump rival bidders Dubai International Capital last week.

Arrangements over the future of Liverpool's new stadium appear to have clinched the deal. Not only has Hicks built up a reputation for developing state-of-the-art stadia for his teams, but the duo have now guaranteed that Liverpool's new Stanley Park ground would not be shared with other teams.

In Gillett's original approach, when he was considering a solo takeover, he had indicated he wanted a ground-share arrangement to cut costs and maximise income.

Hicks and Gillett will split the £470million cost of taking over the club on a 50-50 basis, with around £255million going to buy the shareholding and take over the £80million debt, and a further £215million on the stadium.

When the takeover goes through it will mean Liverpool, Manchester United and Aston Villa are all in American hands.

Malcolm Glazer, owner of American football's (NFL) Tampa Bay Buccaneers, owns United and Randy Lerner, owner of NFL's Cleveland Browns, bought Aston Villa last year.