10 Oct 2010

Liverpool set to be sold to owners of the Red Sox

3:39 pm on 10 October 2010

The English Premier League has approved the proposed sale of the struggling football club Liverpool to the American owners of the Boston Red Sox.

The league says New England Sports Ventures, which runs the Boston baseball club, meet the requirements for owning the Liverpool.

But the more than $600 million takeover is not yet final, and is set to be settled in court.

The league could end up docking the club nine points if the takeover falls through.

Co-owners Tom Hicks and George Gillett Jr. are opposed to the Red Sox bid, which they say dramatically undervalues the club.

Liverpool's three other board members, who have no shares in the club, are going to court next week to force through the sale.