Hicks & Gillett drop $1.6bn lawsuit

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Tom Hicks and George Gillett have dropped the $1.6bn lawsuit threat they made earlier in the day, just hours after it was confirmed Liverpool Football Club is now owned by New England Sports Ventures.

As Hicks and Gillett admitted defeat early this afternoon, they threatened to sue for around £1billion in damages, describing the sale to NESV as “an epic swindle”.

Texas based attorney Tom Melsheimer confirmed this evening that the lawsuit had been dropped, but did add that “a different picture will be painted when the English court has a chance to hear all the facts.”

When asked about the prospect of the lawsuit before it had been dropped, new owner John Henry made little comment, laughing it off.

If you can stand to see Tom Hicks’ face one last time, this is what he had to say to Sky Sports News after today’s events:

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