The Premier League has given the go-ahead for New England Sports Ventures to complete a takeover of Liverpool. The move means only the high court action by the current owners Tom Hicks and George Gillett stands in the way of the £300m deal by the American company, owners of the Boston Red Sox, going through.
If the takeover is not completed by next Friday then the Royal Bank of Scotland could put Kop Holdings, the company owned by Hicks and Gillett, into administration over its unpaid £280m debt. If that happens, Liverpool would be at risk of a nine-point deduction.
Initially it had been thought the Premier League would not penalise the club for Kop Holdings becoming insolvent, but now the threat of a points deduction has become a serious one.
Under Premier League rules, the fact that the holding company is solely concerned with the ownership of Liverpool and football-related matters could trigger the nine-point penalty.
West Ham had been used as an example of why the Anfield club might escape a deduction if administration goes ahead when it was owned by the Icelandic bank Straumur. The London club, however, was a solvent part of a whole portfolio of different companies while Kop Holdings is solely concerned with Liverpool.
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