US duo complete Liverpool takeover

25 Apr 2008

By: Sport Industry Group

US entrepreneurs George Gillett and Tom Hicks have completed their takeover of FA Premier League club Liverpool.

The US businessmen had given shareholders until Monday to respond to the offer of £5,000 per share but the pair comfortably reached the 75 percent required to put the deal through.

A statement to the Stock Exchange said the duo ‘received valid acceptances in respect of approximately 80.7% of Liverpool's issued share capital’.

Construction work on the club's new 60,000-seater stadium in Stanley Park is set to start imminently.

Gillett and Hicks, who both own NHL franchises, secured the takeover for a combined sum of £218.9m which will wipe out Liverpool’s debt.