ENGLISH PREMIER LEAGUE:THE FATE of Liverpool will be decided in room 18 of the British high court from today, when the Royal Bank of Scotland seeks to force through the sale of the club to the owners of the Boston Red Sox in the face of opposition from the current owners.

With the club’s future set to turn on Mr Justice Floyd’s interpretation of agreements RBS insists were signed by Tom Hicks and George Gillett, the picture was further complicated yesterday by the public emergence of the rival bid to that of New England Sports Ventures, whose offer was accepted last week.

Peter Lim, a Singapore billionaire, matched NESV’s €343 million offer and also agreed to clear the €230 million acquisition debt sitting on the club’s balance sheet.

The former stockbroker turned investor, who has stakes in a fashion retailer and a chain of clinics and owns a chain of Manchester United-branded cafes in the Far East, claims to be prepared to return to the table if the NESV deal falls through or Liverpool go into administration.

NESV, however, would point to the fact it emerged as the winner in a competitive process and the agreement it has signed with the independent chairman Martin Broughton and the Liverpool board.

Although Lim’s intervention will be immaterial if RBS wins the case, which could take several days to resolve, it may prove problematic for RBS and Liverpool if it aids the argument of Hicks and Gillett, that they could have achieved a higher price for the club they still own.

RBS, which is owed the majority of the €270 million loans that fall due on Friday, will today argue that undertakings signed by Hicks and Gillett as a condition of a refinancing round in April give the chairman, Broughton, the sole right to appoint or remove directors from the board.

Liverpool are also seeking a definitive court judgment to confirm the directors have the right to sell the club.

If RBS succeeds in upholding the agreements, which it believes are legally watertight, it would give Broughton the authority to push through the sale to NESV.

Guardian Service