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Posts Tagged ‘hicks’

• Former owners claiming hundreds of millions in damages
• Almost one year since Hicks and Gillett were ousted from club

Liverpool’s former owners Tom Hicks and George Gillett are still seeking damages from the club’s present owners, former directors and the Royal Bank of Scotlan, almost one year after New England Sports Ventures gained control of the Anfield club in the high court.

Hicks and Gillett lost control of Liverpool last October when NESV, now Fenway Sports Group, repaid a £237m loan the American businessmen had taken out with RBS and the US bank Wells Fargo. Hicks claimed he was the victim of an “epic swindle” but his appeal to have a $1bn damages claim heard in the US was dismissed at the high court in February.

Mr Justice Floyd’s ruling, however, permitted Hicks to sue for damages in this country and Liverpool’s former owners have served notice of their intention to proceed by filing papers to that effect. Hicks and Gillett are claiming hundreds of millions in damages from the RBS, NESV and former directors, believed to be Martin Broughton and Christian Purslow.

Hicks tried and failed to remove Purslow and Ian Ayre, who has since succeeded Purslow as the managing director at Liverpool, from the club’s board during his desperate attempts to retain control but was ultimately thwarted in the high court. The Americans’ latest legal challenge could take several months to come to court.

The Liverpool manager also revealed that Daniel Agger is ahead of schedule in his return from a fractured rib suffered in the defeat at Tottenham Hotspur less than two weeks ago. Both Agger and Glen Johnson, who is recovering from his second hamstring injury of the season, have taken part in light training this week although the Dane is unlikely to feature at Goodison.

LiverpoolTom HicksAndy Hunterguardian.co.uk

• Former chief executive denies rejecting offer from DIC
• ‘The problem was that they didn’t get on with each other’

The former Liverpool chief executive Rick Parry has defended the decision to sell the club to George Gillett and Tom Hicks in 2007.

It has been widely-reported that Hicks and Gillett assumed control of the club despite a rival offer from Dubai International Capital (DIC) but Parry, who along with then chairman and owner David Moores made the decision to sell to the American duo, insists that DIC were not in the running.

“It wasn’t a case of us rejecting Dubai,” Parry told London’s Evening Standard. “They were the preferred bidder but they walked away.”

The reign of Hicks and Gillett, which ended when Fenway Sports Group bought the club last year after a bitter court battle, was punctuated by public arguments between the two owners, between Hicks and Parry and disagreements between then-manager Rafael Benítez and the owners.

The much-heralded new stadium in Stanley Park failed to materialise and the club struggled under the weight of the large amount of debt which was placed on the club by Hicks and Gillett. Parry believes much of the difficulty stemmed from the fractious nature of the relationship between the owners.

“I think one of the fundamental [problems] was that they actually didn’t get on terribly well with each other,” Parry explains.

Parry left the club in 2009 and, despite the often haphazard nature of the Hicks and Gillet era, he feels that for a period of time at least things were going well.

“Don’t forget and certainly until I left – which was 2009 – we were second in the league. The business plan was a net spend of £20m on players. And they’d over delivered on that. They took us pretty close to winning the Premier League in 2008-2009, within four points of Manchester United with a huge points total.

“So it wasn’t all doom and gloom. Then, in 2009, for whatever reason, there didn’t appear to be any net spend at all on the players. By which time they clearly realised that they probably needed to sell completely.”

Parry also stressed that despite what seemed to be a hostile relationship, he remains on good terms with Benítez.

“You don’t get into the business if you want people who are easy,” he said. “You want people who are winners. He’s very demanding and he’s a perfectionist. But I’m still friendly with Rafael.”

LiverpoolTom HicksEvan Fanningguardian.co.uk

• Ex-Liverpool owner has barring action partially lifted
• American claims he lost £140m in sale of club to NESV

The Former Liverpool owner Tom Hicks has been given the chance to launch massive damages claims over the sale of the Premier League club after orders barring action in the US were partially lifted by a high court judge in London.

Hicks wanted Mr Justice Floyd to lift anti-suit orders which prevented him taking action in the Texas courts to halt the deal in which he claims he lost £140m.

The judge dismissed that application but varied the anti-suit injunction to allow Hicks to make applications in the US in support of any proceedings in this country if he gives seven days notice to the parties he is suing, with Royal Bank of Scotland foremost among that group.

Hicks believes he was the victim of an “epic swindle” when the club was sold against his wishes to New England Sports Ventures for £300m.

Mr Justice Floyd also dismissed an application to ’strike out or stay claims’ by Sir Martin Broughton, the former chairman of the club, seeking damages against Hicks for his actions while owner.

NESV’s application to be allowed to join the Broughton action was granted by the judge.

NESV bought the club after repaying a £237 million loan Mr Hicks and his former partner George Gillett took out with the Royal Bank of Scotland and Wells Fargo and Co.

Tom HicksLiverpoolguardian.co.uk