10 Oct 2010

Liverpool could enter administration

3:39 pm on 10 October 2010

The Liverpool chairman Martin Broughton says the English football club could end up in administration if the increasingly bitter battle to take over the Reds isn't resolved next week.

The future of the Premier League outfit will be decided in the High Court early next week, with Broughton battling with the club's American owners, George Gillett and Tom Hicks, over the proposed sale of the club to New England Sports Ventures.

Broughton has set up a sale worth more than $600 million to NESV, who own the Boston Red Sox baseball team.

But Hicks and Gillett aren't happy with the price and are taking the issue to court.

Broughton says if the owners win their case, the club could go into administration, because the club's main financial backer, the Royal Bank of Scotland, is due to call in their $590 million debt in just five days.

Liverpool will lose nine competition points in the English Premier League if that happens.