Liverpool takeover to go ahead as owners lose case
• NESV claim ''binding agreement''
• Raynor: New era beckons
• Reds await High Court ruling
• Kuyt sustains ankle blow
• Torres boost for Reds
• Forum: Derby predictions
LIVERPOOL TAKEOVER TIMELINE
December, 2006 - Liverpool confirm they have ''entered into a period of exclusive negotiations with Dubai International Capital (DIC) about a possible investment''.
January, 2007 - American businessman George Gillett makes an approach ''which may or may not'' lead to a takeover offer. Liverpool board meet to discuss Gillett's proposal after deciding not to formally accept DIC's £400 million bid.
February, 2007 - Texan Tom Hicks emerges as joint bidder with Gillett and the pair offer £435 million for the ownership of Liverpool - this includes £215 million for the building of a proposed new stadium in Stanley Park - and the offer is accepted. The club is valued at £218.9 million, with debts of £44.8 million.
March, 2007 - Gillett and Hicks' Kop Football announces to the Stock Exchange they have secured unconditional control of the club, promising work on the new Stanley Park stadium will begin immediately.
January, 2008 - Hicks admits they had made an approach to former Germany manager Jurgen Klinsmann, with a view to replacing Rafael Benitez, after reports of a bust-up. It is also revealed that Gillett and Hicks are barely on speaking terms.
March 2009 - Chief executive Rick Parry announces he will be leaving the club at the end of the season.
June 2009 - Financial expert Christian Purslow is appointed managing director and tasked with finding £100 million of fresh investment to help satisfy Liverpool's creditors with debts reported to be £237 million.
January 2010 - Tom Hicks Jnr resigns from the board after a foul-mouthed email rant at a fan. Commercial director Ian Ayre and financial director Phillip Nash are added to the board, although Nash is not given a vote at group level.
March 2010 - New York-based private equity firm the Rhone Group make £110 million bid for a 40% stake in Liverpool but Hicks and Gillett fail to respond within the deadline.
April 2010 - Hicks and Gillett put the club up for sale, and announce the appointment of Martin Broughton, who will oversee the formal sale of the club. A requirement of major creditors Royal Bank of Scotland is a change on the new board, with Broughton, Purslow and Ayre having a majority vote to prevent the Americans blocking a sale.
May 2010 - Financial results for the year ending July 2009 show the club made a record pre-tax loss of £54.9 million, with interest repayments on loans undertaken by Hicks and Gillett accounting for £40.1 million of that.
June 2010 - Benítez is dismissed by the club as they finish in seventh place. Fulham boss Roy Hodgson is appointed at the end of the month.
August 2010 - Chinese investor Kenny Huang announces his interest in acquiring the club, with the backing of the Chinese government's investment arm but withdraws without making an offer.
October 2010 - Liverpool announce they have received two ''excellent'' bids, but Hicks and Gillett attempt to oust Purslow and Ayre to prevent a sale. The following day, Liverpool confirm they have accepted a bid, believed to be £300 million, from John W. Henry's New England Sports Ventures (NESV), who also own the Boston Red Sox baseball team. Singaporean businessman Peter Lim also puts in a bid believed to be £320 million.
The club are taken to the High Court by Hicks and Gillett, but the judge rules in favour of Liverpool and refuses the Americans a right to appeal against the decision. It is revealed NESV have signed a ''legally binding'' agreement to buy the club.
John W Henry holds a meeting with the board to try to complete the sale, but a Texan court grants Hicks a restraining order intended to block the sale of the club.
Liverpool and RBS head back to the High Court and judge rules Hicks and Gillett injunction invalid. The sale to NESV is once again given the green light and during the hearing Peter Lim withdraws his supposed bid to buy the club.
Hicks and Gillett back down after dropping their injunction as RBS refuse their offer to pay off the debt with money from Mill Financial. The owners relinquish control of the club to focus on a claim for $1.6 billion in damages and the path is cleared for NESV to take control.