US company New England Sports Ventures, the owners of the Boston Red Sox baseball team, has completed its £300 million takeover of Liverpool after a protracted saga. Liverpool's American owners Tom Hicks and George Gillett strongly objected to the deal, which they believed would 'undervalue' the club. But they lifted the final obstacle standing in NESV's way to purchase Liverpool after removing the temporary restraining order they won in a Texas court to block the sale. "NESV wishes to extend its sincere gratitude to the Board of Liverpool FC for their diligence and their efforts on behalf of the Club and its supporters," Liverpool said in a statement. "The transaction values the Club at £300m and eliminates all of the acquisition debt placed on LFC by its previous owners, reducing the Club's debt servicing obligations from £25m-£30m a year to £2m-£3m. "New England Sports Ventures is committed to winning and currently owns a portfolio of companies, including the Boston Red Sox, New England Sports Network, Fenway Sports Group and Roush Fenway Racing." The news will come as a relief to Liverpool fans who saw their team make one of their worst league starts. The Reds lie third from bottom in the table after collecting just six points from their first seven games. They will face rivals Everton in the Merseyside derby on Sunday.
