American businessmen George Gillett and Tom Hicks have completed their takeover of Liverpool football club.
The pair have purchased shares representing 98.6 per cent of the overall ownership, meaning they will be able to secure a compulsory purchase of the remaining 1.4 per cent according to stock exchange rules.
In doing so, Gillett and Hicks plan to re-register Liverpool as a private limited company and remove it from trading, in much the same way as the Glazer family's takeover of arch-rivals Manchester United.
The US takeover of the club was originally announced in early February when Gillett gazumped a possible takeover from Dubai International Capital group, controlled by the Dubai crown prince and United Arab Emirates prime minister Sheikh Mohammed bin Rashid al-Maktoum.
After extensive talks with the club, he also brought on board Tom Hicks – a fellow NHL franchise owner in the US.
Hicks has a controlling interest in the Dallas Stars hockey team and the Texas Rangers baseball club, while Gillett is a majority shareholder of the Montreal Canadiens.
The pair's commitment to part-funding and overseeing Liverpool's new Stanley Park stadium development to replace Anfield was a major factor in their takeover bid.
However, the new owners have delayed the start of building work in order to look over the plans with a view to revising the size, scope and overall capacity of the new ground beyond its original estimate of 60,000 seats.
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