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Thursday, October 7, 2010

Boston Red Sox Buy Liverpool: Tom Hicks To Fight On, Says "Board Does Not Approve"

In an email exchange with the BBC's Brian Alexander, Liverpool FC co-owner Tom Hicks indicated ownership intends to stand in opposition as chairman Martin Broughton seeks a High Court's declaratory judgment approving the club's sale to New England Sports Ventures (NESV).

According to Hicks, NESV's offer should have never been approved, as the board of directors he put in place did not vote on the deal.

However, Hicks and Gillett claim Purslow and Ayre were replaced - believed to be by Hicks's son, Mack Hicks, and Lori Kay McCutcheon, a vice president at Hicks Holdings - giving the owners a majority on the board and with it the ability to block any sale.

When asked about the takeover by Alexander, Hicks replied: "We legally reconstituted the board and the board does not approve of this transaction."

Then asked how he and Gillett could block the move, Hicks added: "We have removed Christian Purslow and Ian Ayre."

That removal was rejected by Broughton, who claims to have been given the sole power to reorganize the board when he was appointed chairman in April.

Hicks attempted to place son Mack and business associate Lori Kay McCutcheon into Purslow and Arye's director position; however, Broughton rejected the move, claiming "written undertakings" made at the time of his April appointment gave him sole power to reorganize the board.

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