Baseball Owner 'To Buy Liverpool'

Liverpool Football Club is to be sold to the owners of the Boston Red Sox, according to Sky News sources.

An official announcement is expected from the club shortly.

Describing a night of "real drama", Sky News City editor Mark Kleinman said: "I can reveal that there is now only one bidder in the frame.

"Last night, a deal was agreed to sell Liverpool Football Club to New England Sports Ventures, the owner of the Boston Red Sox."

However, he added that completing a deal is still likely to be "pretty tricky".

"The deal would effectively eradicate Liverpool's long -term debt - which is about £250m - but there will not be much money left on the table.

Tom Hicks and George Gillett Jr took over the club in 2007

"The current owners (Tom Hicks and George Gillett Jr) do not want this deal to happen because they will not receive any or, if any, only a small amount of the proceeds."

In a new twist in a bitter boardroom battle, Liverpool FC statement last night confirmed Mr Hicks and Mr Gillett had tried to remove managing director Christian Purslow and commercial director Ian Ayre from the board of directors and replace them with Mack Hicks and Lori Kay McCutcheon.

The statement added: "This matter is now subject to legal review and a further announcement will be made in due course."

Liverpool - languishing in the relegation zone under new boss Roy Hodgson - has an October 15 deadline to repay debts to the Royal Bank of Scotland resulting from the 2007 takeover by Hicks and Gillett.

If the club fails to find suitable buyers, then RBS are allowed to take control of it, the asset against which the loans are secured, and sell the club on to recoup the cash.

RBS' position over the loans has contributed to the reluctance of interested parties to submit formal bids.

Mr Hicks and Mr Gillett initially wanted around £800m for Liverpool, a figure that dropped to £600m.

Several parties have been linked to a takeover - but nothing has come close to being finalised.

Earlier this year, the American duo also turned down a £110m bid from New York-based Rhone Group for 40% of the club.

More to follow...

AND THEY HAVE A NEW SONG TO SING ON THE TERRACES

To the tune of 'Amarillo'

When the day is dawning, on a scouser's monday morning, How I long to be there, the bottom 3 is waiting for me there. All All around the city, where I lay my hat. They say thanks to Torres, the useless Spanish twat ! Is this the way to relegation? The laughing stock of the nation. Dreaming dreams of trips to Preston. Days out in Scunthorpe wait for me........