Liverpool Football Club will be sold to NESV

New England Sports Ventures’ prospects of taking control at Anfield before Sunday’s Merseyside derby rest on the verdict of a Texan judge expected to reveal whether the much-delayed deal can proceed after 1pm UK time on Friday.

Lawyers for the Reds, main creditor Royal Bank of Scotland and Boston’s NESV were gathering at 7am (1pm UK) at the 160th District Court in Dallas to seek the removal of a restraining order obtained by the current owners on Wednesday night.

If Judge Jim Jordan is persuaded to overturn the order he granted Tom Hicks and George Gillett, the agreed sale of the Reds to NESV should proceed.

After a second damning verdict in London’s High Court yesterday, lawyers for co-owner Tom Hicks immediately went back to the Dallas court last night for another hearing with Judge Jordan but it adjourned without resolution until today.

The early start in Texas today is because of the 4pm deadline (UK time) High Court judge Christopher Floyd gave the Americans to remove their restraining order in his decision against Hicks and Gillett in London yesterday.

The ruling was potentially undermined, however, by the judge’s decision to grant Hicks and Gillett until 4pm BST today to comply with the order, too late for the sale to be completed before the weekend. NESV’s counsel, David Chivers QC, told the court the sale could only be completed today if an order to transfer funds was given before 3pm.

With Hicks and Gillett not represented in court, there is little expectation that they will comply with the order, and even if they do it is predicted to be at the last minute.

Given those circumstances, the club would remain in limbo through the weekend, overshadowing a game that already has season-defining potential for both clubs.

Should the deal not go through RBS will finally face the decision that it has spent the last three days in court trying to avoid: what to do if the loans are not repaid on time.

A possible late offer from Mill Financial – who already own George Gillett’s half of the club – failed to materialise yesterday and, while it has not been completely ruled out, only a hugely-improved bid is likely to deflect the Reds board from their deal with NESV.

One complication was eased, when Peter Lim said he was withdrawing, having had a £325 million offer for the club rejected on Wednesday.

Broughton said he hoped to have a deal in place for Henry to attend Sunday’s Merseyside derby at Goodison Park as Liverpool FC’s new owner.

You’ll Never Walk Alone.