The American owners of Liverpool FC have lost their High Court battle to prevent the sale of the club to the owners of the Boston Red Sox.
George Gillett and Tom Hicks had challenged the sale of Liverpool FC following a majority decision by the board to accept a £300 million offer from New England Sports Ventures, the owners of the Boston Red Sox.
But Mr Justice Floyd ruled the unpopular American owners did not have the boardroom power to veto the deal which was sanctioned last week.
The announcement more than certainly brings an end to Hicks and Gillett’s three-and-a-half year tenure which has been dogged with boardroom controversy and fan unrest.
As a result of the ruling, the Americans stand to lose more than £140 million from the deal.
New England Sports Ventures is fronted by US businessman John Henry who made his initial millions in the stock exchange.
Speaking on Twitter, a delighted Henry said: “Well done Martin, Christian & Ian. Well done RBS. Well done supporters!”
A statement of the Liverpool FC website read: “We are delighted that the court has clarified the issue of board composition and has removed the uncertainty around the sale process.
“We will now be consulting with our lawyers and planning for a board meeting tonight. A further statement will be made in due course.”
The announcement was met with delight from former Liverpool star David Fairclough.
He told Sky Sports News: Fairclough told Sky Sports News: “I think it is good news and Liverpool can now look forward.
“We think this is the first major step in allowing the club to move forward. They (NESV) appear to be progressive owners so hopefully it is all good news.
“Hopefully this is day one of the way forward and certainly there will be smiles on the faces of Liverpool fans as it gives a clear route to go forward.”