NESV vow to remove 'acquisition debt'

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The Independent Online

New England Sports Ventures will remove all "acquisition debt" from Liverpool if their takeover is successful, a statement from the American company promised today.

The owners of the Boston Red Sox confirmed their bid, understood to be for £300million, had been accepted by Liverpool's board - though current owners Tom Hicks and George Gillett have launched a legal challenge opposing that acceptance.

A statement from New England Sports Ventures (NESV) read: "NESV wants to create a long-term financially solid foundation for Liverpool FC and is dedicated to ensuring that the club has the resources to build for the future, including the removal of all acquisition debt.

"Our objective is to stabilise the club and ultimately return Liverpool FC to its rightful place in English and European football, successfully competing for and winning trophies.

"Since 2001, New England Sports Ventures has made successful investments in sports and entertainment properties.

"Our portfolio of companies, including the Boston Red Sox and Fenway Park, New England Sports Network, Fenway Sports Group and Roush Fenway Racing are all committed to one common goal: winning.

"NESV wants to help bring back the culture of winning to Liverpool FC.

"We have a proven track record, shown clearly with the Boston Red Sox. The team has won two World Series Championships over the past six years. We will bring the same kind of openness, passion, dedication and professionalism to Liverpool FC.

"We are hopeful with regard to the pending legal and English Premier League procedures now under way, however, in light of these issues, we will respectfully refrain from comment or further actions at this time."

NEW ENGLAND SPORTS VENTURES STATEMENT ON THE PURCHASE OF LIVERPOOL FC IN FULL:

New England Sports Ventures ("NESV") can confirm that their bid for Liverpool FC has been selected by the club's board of directors and agreement has been reached with the board to purchase the club. NESV wishes to extend their appreciation to the board for their diligence and their efforts on behalf of Liverpool FC and its supporters.

NESV wants to create a long-term financially solid foundation for Liverpool FC and is dedicated to ensuring that the club has the resources to build for the future, including the removal of all acquisition debt. Our objective is to stabilise the club and ultimately return Liverpool FC to its rightful place in English and European football, successfully competing for and winning trophies.

Since 2001, New England Sports Ventures has made successful investments in sports and entertainment properties. Our portfolio of companies, including the Boston Red Sox and Fenway Park, New England Sports Network, Fenway Sports Group and Roush Fenway Racing, are all committed to one common goal: winning. NESV wants to help bring back the culture of winning to Liverpool FC.

We have a proven track record, shown clearly with the Boston Red Sox. The team has won two World Series championships over the past six years. We will bring the same kind of openness, passion, dedication and professionalism to Liverpool FC.

We are hopeful with regard to the pending legal and English Premier League procedures now under way, however, in light of these issues, we will respectfully refrain from comment or further actions at this time.

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