Gillett and Hicks takeover LFC

Liverpool Football Club have new owners today after American businessmen George Gillett Jr. and Tom Hicks concluded their takeover of the club. They officially announced a £470million takeover to the stock exchange at midday on Tuesday 6th February 2007.

In a historic event for the club departing chairman Rick Parry said:

‘œI believe this is a great step forward for Liverpool, its shareholders and its fans. This Club is my passion and forms a huge part of my life. After much careful consideration, I have agreed to sell my shares to assist in securing the investment needed for the new stadium and for the playing squad. I urge all my fellow shareholders to do the same and to support the offer. By doing so, I believe you will be backing the successful future of Liverpool Football Club.

“I am also delighted to accept the offer from the Hicks and Gillett families to continue my involvement in the Club by becoming Honorary Life President.’

Gillett and Hicks have met manager Rafa Benitez and claimed to share similar views on the team and resources when they met on Tuesday morning. The US tycoons also met players Steven Gerrard and Jamie Carragher on Monday night.

Speaking at Tuesday’s press conference and flanked by chief executive Rick Parry – who will remain in his role – Gillet and Hicks said all the right things as they spoke of keeping the traditions and heritage of the club alive while focussing on the building of a new stadium, allowing more funds for players and aiming on achieving success in the trophy room.

They promised to keep a legacy, to maintain the structure of the club and begin construction of the new Stanley Park stadium within 8 weeks. It is rumoured manager Rafa Benitez will have around £100m available.

Gillett and Hicks have not borrowed money to make the purchase of the club, unlike Man United‘s Malcolm Glazier and have paid off the clubs £80m of debt whilst ensuring the funding of the new 60,000 seater stadium.

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