The ownership troubles of the Liverpool Football Club have taken another twist as Peter Lim is stepping back into negotiations with an increased bid for the embattled team. The billionaire Singapore businessman’s offer was originally overlooked in favour of a £300 million offer from the owners of the American baseball team the Boston Red Sox, NE Sports Ventures. Now, Lim is back with a new offer.
The new offer may be of no avail since one of Liverpool’s major creditors, Royal Bank of Scotland, has gone to High Court to fight over who has the right to actually sell the Football Club. IF RBS wins, the deal will go to the New England investors of Sports Ventures.
Lim, however, is countering with quite a deal. First he will jump the offer to £320 million, all in cash. Then, he will add £40 million for spending on players. Such sums of money would pay off a £200 million acquisition debt, bank fees, and all of Liverpool’s existing debt.
The additional £40 million would be injected into the club so Roy Hodgson can get new players. Lim says that he is committed to returning the Liverpool Football Club to the pinnacle of success. He says that all the money is available immediately and that fact can keep the club from going under administration.
While his offer is generous and intriguing, it will probably have no bearing on the court case which is a fight between the club and investors George Gillett and Tom Hicks, who stand to lose £114 million if the Sports Ventures deal goes through.