Mill Financial haven’t bought Hicks & Gillett’s shares in LFC

Aug. 16, 2010 - 06332163 date 15 08 2010 Copyright imago BPI Liverpool FC Badge ON The exterior Wall of The Kop PUBLICATIONxNOTxINxUKxFRAxNEDxESPxSWExPOLxCHNxJPN men Football England Premier League 2010 2011 Liverpool venues Stadium environment Anfield Road Vdig 2010 vertical Highlight premiumd Football.

Reports this morning suggested Mill Financial have purchased Tom Hicks and George Gillett’s shares in Liverpool Football Club, according to reports.

However, the Press Association has since reported that Hicks has not sold his share to Mill Financial and remains at the club.

UPDATE: We are now doing live text commentary of today’s dramatic events. So for the latest, head here.

Mill Financial are an American hedge fund company – which already owned 50% of Gillett’s share – are said to have put in a similar offer for the club to that of NESV.

The Liverpool Echo explain the situation better than us:

It is being claimed the American based Hedge Fund has acquired all of Tom Hicks’ shares to go along with those of George Gillett, which it already owned.

It is further claimed that if they repay all outstanding loans to RBS before the set deadline, they will by default become the new owners of LFC, nudging out New England Sports Ventures.

However the Echo understands the move would not signal Hicks and Gillett returning to ascendancy in the battle for the Reds.

Instead it is believed Mill Financial, in turn owned by Springfield Financial who have links with the Washington Redskins American Football team, may be acting on behalf of another, as yet unnamed and unknown group who have put themselves in a position to move in at the 11th hour and take over the club.

The Echo also suggest Chinese businessman Kenny Huang could be behind these developments with other sources suggesting Mill Financial could be acting as a middleman, selling the club on quickly for profit.

Liverpool and the Royal Bank of Scotland will return to the High Court in London this afternoon to try and overturn Tom Hicks’ injunction preventing the sale of the club to New England Sports Ventures. The hearing is set for 2pm.

More to follow. For the latest please follow us on Twitter or see the forums.