New England Sports Ventures, the parent company of the Boston Red Sox led by Sox owners John Henry, Tom Werner, and Larry Lucchino, has placed a bid for the English soccer club Liverpool FC, a source told the Globe's Peter Abraham this evening.
The Henry group has placed one of two bids for the team, according to SkySports.com. Liverpool chairman Martin Broughton called the bids "credible", and the report says negotiations are ongoing. Liverpool, whose board of directors has been engaged in a battle for control of the team, has until Oct. 15 to repay debts of about $450 million to the Royal Bank of Scotland.
According to The Telegraph, both the New England Sports Ventures Bid and the competing bid -- which the Associated Press reports is out of Asia -- are for somewhere between $445 and $475 million.
The AP reports that Liverpool co-owners Tom Hicks and George Gillett Jr. won't accept the bids because they match only what Hicks and Gillett Jr. paid for the club in 2007, plus a little extra to pay down the team's debt.
Other board members were ready to consider accepting one of the bids today, according to the reports. A statement released by the club highlighted the internal turmoil among the team's board of directors:
"The board of directors have received two excellent financial offers to buy the club that would repay all its long-term debt. 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 McCutcheon. This matter is now subject to legal review and a further announcement will be made in due course... [the club will] continue to explore every possible route to achieving a sale of the club at the earliest opportunity."
Material from the Associated Press was used in this report.
The main contributors to The Buzz are:
- Steve Silva, Boston.com senior sports producer
- Gary Dzen, Boston.com senior sports producer
- Zuri Berry, Boston.com sports producer