SportBusiness.com

New offer as Liverpool awaits 10.30am court decision

Singapore magnate Peter Lim has increased his bid for English Premier League club Liverpool ahead of this morning’s High Court ruling on the club sale to US group New England Sports Ventures (NESV).

According to the BBC, Lim, a runner-up in the race to take over the club, now wants to pay £320 million, some £20 million above NESV’s offer.

Putting their case to the High Court yesterday, Americans Tom Hicks and George Gillett opposed the deal with the US group saying other bids were not considered properly by the board.

One of them was from the Singapore tycoon and the other by American hedge fund Mill Financial, which now technically owns 50 per cent of Gillett’s stake after the co-owner failed to repay a loan taken to finance his part in the takeover of the club in 2007.

Mr Justice Floyd will announce today whether the board had the authority to sell Liverpool to NESV or the deal risks being called off.