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.