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Breaking News: Boston Red Sox Owner Buys Underperforming Liverpool

LIVERPOOL, ENGLAND - SEPTEMBER 25:   Liverpool  fans display anti American banners before the Barclays Premier League match between Liverpool and Sunderland at at Anfield on September 25, 2010 in Liverpool, England.  (Photo by Clive Brunskill/Getty Images)
Clive Brunskill/Getty Images
Daniel GoochAnalyst IOctober 6, 2010

Last night, a deal was agreed upon to sell Liverpool FC to New England Sports Ventures, the owner of the Boston Red Sox.

This deal effectively eradicates Liverpool's long-term debt, which totals at around £250m. However, there won't be much money left on the table.

The current owners, Tom Hicks and George Gillett, don't want this deal to happen, as  they will not get a small amount of the sale, if anything at all.

Hicks and Gillett tried their best to stop the deal.

The American duo tried to remove Managing Director Christian Purslow and Commercial Director Ian Ayre from the board of directors and then replace them with Mack Hicks and Lori Kay McCutcheon.

Liverpool have until October 15 to repay all the debts to the Royal Bank of Scotland resulting from the last US takeover in 2007.

After that deadline, RBS would be in control of the club. Having a British bank in charge of their football team is not what the fans want. Imagine the bonuses the bankers can get out of the club.

Hicks and Gillett were asking for about £800m for the Merseyside team but will have to cope with around £600m instead.

The fans have showed their anger at H&G ever since they bought the club. Now they will be waving goodbye to them with big grins on their faces.

Will there be a repeat of this with another American owner?

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