Hicks to buy into Liverpool
11:08 AM CST on Thursday, February 1, 2007
By EVAN GRANT / The Dallas Morning News
[email protected]
In what may well set a precedent for North American sports franchise owners, Rangers and Stars boss Tom Hicks is entering into an agreement with Montreal Canadiens owner George Gillett Jr. to purchase one of the most storied teams in the British Premiership soccer league.
According to a source, Hicks has agreed to go half-and-half with Gillett on the $450 million purchase of Liverpool Football Club. Hicks' investment will rival the $250 million he paid for the Rangers when he purchased them in 1998. A formal announcement of the deal could be made early next week.
In a history that dates back to 1892, Liverpool has won 18 league championships and five European Cup. Liverpool, currently in third place in the Premiership standings, last captured the European Cup in 2005.
Hicks was in the United Kingdom this week and was expected back in the United States late Thursday.
MICHAEL MULVEY / DMN
Tom Hicks has owned the Stars since 1995, and the Rangers since 1998. Hicks and Gillett were together at last week's NHL All-Star Game where, according to a source, the partnership idea picked up steam. Hicks and Gillett have also worked together on the Swift Company executive board.
It is believed to be, however, the first time two major sports owners have gone into partnership on another franchise.
Gillett's bid to take over the club has been well-documented. He was the underdog to Dubai International Capital, but, according to the British newspaper The Daily Telegraph, DIC withdrew its bid on Tuesday.
"We are very disappointed," Sameer Al Ansari, executive chairman and chief executive officer of DIC, told the Telegraph. "DIC is a serious investor with considerable resources at its disposal. At the same time, we are supporters – of the game and of the club. We proposed a deal that would provide the club with the funds it needs on and off the pitch."
"We have a duty as directors to consider a very interesting bid from George Gillett," Liverpool chief executive Rick Parry told the Liverpool Echo.
"The DIC response to this was to give the club 12 hours to make a decision but the chairman was not prepared to have Liverpool Football Club bullied like that."
Hicks will join a growing number of U.S. sports owners investing in the British Premiership. Tampa Bay Buccaneers owner Malcolm Glazer purchased Manchester United, the Premiership's version of the New York Yankees. Cleveland Browns owner Randy Lerner invested in the Aston Villa franchise, a lower-echelon Premiership club. Revenues for the upper-level Premiership clubs, including Manchester United, Liverpool and Arsenal all are believed to be in line with those generated by NFL franchises.
11:08 AM CST on Thursday, February 1, 2007
By EVAN GRANT / The Dallas Morning News
[email protected]
In what may well set a precedent for North American sports franchise owners, Rangers and Stars boss Tom Hicks is entering into an agreement with Montreal Canadiens owner George Gillett Jr. to purchase one of the most storied teams in the British Premiership soccer league.
According to a source, Hicks has agreed to go half-and-half with Gillett on the $450 million purchase of Liverpool Football Club. Hicks' investment will rival the $250 million he paid for the Rangers when he purchased them in 1998. A formal announcement of the deal could be made early next week.
In a history that dates back to 1892, Liverpool has won 18 league championships and five European Cup. Liverpool, currently in third place in the Premiership standings, last captured the European Cup in 2005.
Hicks was in the United Kingdom this week and was expected back in the United States late Thursday.
MICHAEL MULVEY / DMN
Tom Hicks has owned the Stars since 1995, and the Rangers since 1998. Hicks and Gillett were together at last week's NHL All-Star Game where, according to a source, the partnership idea picked up steam. Hicks and Gillett have also worked together on the Swift Company executive board.
It is believed to be, however, the first time two major sports owners have gone into partnership on another franchise.
Gillett's bid to take over the club has been well-documented. He was the underdog to Dubai International Capital, but, according to the British newspaper The Daily Telegraph, DIC withdrew its bid on Tuesday.
"We are very disappointed," Sameer Al Ansari, executive chairman and chief executive officer of DIC, told the Telegraph. "DIC is a serious investor with considerable resources at its disposal. At the same time, we are supporters – of the game and of the club. We proposed a deal that would provide the club with the funds it needs on and off the pitch."
"We have a duty as directors to consider a very interesting bid from George Gillett," Liverpool chief executive Rick Parry told the Liverpool Echo.
"The DIC response to this was to give the club 12 hours to make a decision but the chairman was not prepared to have Liverpool Football Club bullied like that."
Hicks will join a growing number of U.S. sports owners investing in the British Premiership. Tampa Bay Buccaneers owner Malcolm Glazer purchased Manchester United, the Premiership's version of the New York Yankees. Cleveland Browns owner Randy Lerner invested in the Aston Villa franchise, a lower-echelon Premiership club. Revenues for the upper-level Premiership clubs, including Manchester United, Liverpool and Arsenal all are believed to be in line with those generated by NFL franchises.
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