US duo finalise Liverpool stakeholding

25 Apr 2008

By: Sport Industry Group

George Gillett and Tom Hicks have completed their takeover of FA Premier League club Liverpool with the final deal giving the US entrepreneurs 98.6% of the shareholding.

The Americans had gained unconditional control of the club by passing the 80% share threshold and the new mark brings their takeover to a conclusion.

Under Stock Exchange rules, the remaining shares can now be purchased compulsorily. The new owners will now seek to re-register the club as a private limited company.

The American duo set up a company called Kop Football Limited to buy the club and Liverpool agreed to the terms offered by Gillett and Hicks on 6th February.

Gillett and Hicks, who both own ice hockey franchises in the NHL, had gained acceptances to purchase 80.7% of shares by 9th March before increasing that to the 98.6% level.