Reds owners drop restraining order

Hicks and Gillett’s court order, obtained in Texas, appeared to be

the last hurdle preventing New England Sports Ventures from

completing their £300million buy-out of the Anfield club. NESV

supremo John W Henry, who also owns the Boston Red Sox, confirmed

on Friday that they were still pursuing the case in Dallas, but now

it has emerged that this action has been dropped, as was instructed

by the High Court in London on Thursday. However, it is understood

that Hicks has done this in order to sell his share in the club to

Mill Financial, who already own Gillett’s stake in the club after

he defaulted on his debt to the American hedge fund. Should Mill

Financial take full control, then they would be then in a position

to pay-off the debts of £280million to Royal Bank of Scotland,

which are due on Friday. RBS have publicly backed NESV’s proposed

buy-out, but should Mill take full control then the situation could

change as they may be able to halt the sale and seize power. The

latest twist comes as the Dallas court case was due to resume at

1pm BST, but that now appears unlikely to proceed.