Soccer Team Liverpool to Be Purchased by American Owners

World renown soccer team Liverpool is about to change over to American ownership for the first time in team history. Soccernet.com is reporting that the lead stake holder of the Liverpool team plans to sell his 51% stake. This continues the trend of popular foreign soccer teams falling into ownership by Americans. Manchester United and Aston Villa have also been purchased by American owners.

Liverpool chairman David Moored announced earlier today that he will sell his majority stake to American business owners George Gillett Jr., owner of the Montreal Canadians, and Tom Hicks, who owns the Texas Rangers and the Dallas Stars. Both owners promise to implement an enthusiastic vision that includes several ways to give back to the fan base.

Gillett and Hicks have received permission from 62% of the stakeholders to purchase their shares. Eventually, the duo would like to have full ownership of the team. The full offer comes to $430.8 million. The $430.8 million offer from Gillett and Hicks includes an agreement to pay off about $89 million of club debt and pledges to build and finance a 60,000-seat stadium.

The Liverpool team was founded in 1892 in Liverpool, England. The team currently plays in Anfield Road stadium, which holds about 46,000 people. Liverpool also holds a long winning tradition in which they have captured 18 world titles. The last title came in 1990. Gillett and Hicks would like to see the team return back to the elite status that it once had. Their purchase shows the type of dedication which will allow the hardcore soccer fans in England accept them sooner than later.

Sources:

Soccernet.com. "Liverpool recommends sale to U.S. owners". [Online] 6 February 2007.
URL: http://soccernet.espn.go.com/news/story?id=407101&cc=5901