LONDON // The battle for ownership of Liverpool intensified yesterday as the judge ruling in the High Court case in London said he will make his decision on whether the club's owners should be able to sell for an already agreed, but lower, price, this morning as a second bidder emerged to buy the club yesterday.
Tom Hicks and George Gillett, the American owners, are trying to block the club's sale after the board agreed a £300 million (Dh1.75 billion) deal with New England Sports Ventures (NESV), owner of the Boston Red Sox baseball franchise, against their will. Inside a packed court room, lawyers for the owners admitted they had breached their contracts with the Royal Bank of Scotland (RBS), the major creditor, when they tried to sack board members in a final bid to keep control of the club.
They said Hicks and Gillett were forced to do this because those board members had failed to consult them properly and to consider alternative offers for the club. The Americans' lawyers also argued in court that there were alternatives for RBS other than putting the club into administration. While events unfolded inside court, Peter Lim, a Singapore billionaire, made an increased cash bid of £320m for the club.
The case will also go a long way to determining whether the club goes into administration and faces a nine-point deduction. Hicks and Gillett had tried to dismiss two members of the board and replace them with their own people ahead of the NESV agreement in a bid to scupper the plan, which they said was not in the best interests of the club. RBS lawyers argued that Hicks and Gillett had shown "breath-taking arrogance" by trying to change the board and accused Hicks and Gillet of a "calculated breach of contract ... to frustrate the sale process". The bank, majority owned by the UK tax payer, is contesting the case against the owners because it had ruled that only Martin Broughton, the chairman, could make changes to the board. That was required by RBS to prevent the two Americans from blocking any sale.
The case is examining whether Broughton had the authority to agree the deal with NESV. The situation was further complicated when Lim increased his bid for one of the world's most famous clubs. Lim said that he would make a further £40m available for new players. If the October 15 deadline for a refinancing of Liverpool's debt is missed, lawyers believe RBS could take control of the club and conduct the sale itself.
That could result in the holding company of the club briefly being put into administration, which would result in the points deduction under Premier League rules. Hicks and Gillett bought the Merseyside club in 2007 for £218.9m and have since burdened it with crippling debt. Many fans joined together to line The Strand in London in protest yesterday. * Agencies
The view from The National
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
Structural%20weaknesses%20facing%20Israel%20economy
%3Cp%3E1.%20Labour%20productivity%20is%20lower%20than%20the%20average%20of%20the%20developed%20economies%2C%20particularly%20in%20the%20non-tradable%20industries.%3Cbr%3E2.%20The%20low%20level%20of%20basic%20skills%20among%20workers%20and%20the%20high%20level%20of%20inequality%20between%20those%20with%20various%20skills.%3Cbr%3E3.%20Low%20employment%20rates%2C%20particularly%20among%20Arab%20women%20and%20Ultra-Othodox%20Jewish%20men.%3Cbr%3E4.%20A%20lack%20of%20basic%20knowledge%20required%20for%20integration%20into%20the%20labour%20force%2C%20due%20to%20the%20lack%20of%20core%20curriculum%20studies%20in%20schools%20for%20Ultra-Othodox%20Jews.%3Cbr%3E5.%20A%20need%20to%20upgrade%20and%20expand%20physical%20infrastructure%2C%20particularly%20mass%20transit%20infrastructure.%3Cbr%3E6.%20The%20poverty%20rate%20at%20more%20than%20double%20the%20OECD%20average.%3Cbr%3E7.%20Population%20growth%20of%20about%202%20per%20cent%20per%20year%2C%20compared%20to%200.6%20per%20cent%20OECD%20average%20posing%20challenge%20for%20fiscal%20policy%20and%20underpinning%20pressure%20on%20education%2C%20health%20care%2C%20welfare%20housing%20and%20physical%20infrastructure%2C%20which%20will%20increase%20in%20the%20coming%20years.%3C%2Fp%3E%0A
