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LONDON (AP) — Liverpool's board agreed to sell the debt-riddled Premier League club to the owners of the Boston Red Sox on Wednesday, but may have to take legal action to force out the existing American owners.
Current co-owners Tom Hicks and George Gillett Jr. have already said they will resist the bid from New England Sports Ventures, which owns the Red Sox, and a separate bid from Asia.
Hicks and Gillett said the Boston bid — and one from an unidentified Asian investor — "dramatically undervalue" the 18-time English champions.
Liverpool chairman Martin Broughton said the Red Sox owners have offered to pay $477 million, which is only likely to cover the debts and bank charges stemming from the leveraged 2007 takeover by Hicks and Gillett.
Despite the opposition of Hicks and Gillett, who own all the shares in Liverpool, Boston's offer was accepted by the three non-owner board members: Broughton — who was hired by Hicks and Gillett in April to sell the club — plus managing director Christian Purslow and commercial director Ian Ayre.
The Premier League said in a statement it should be ready to approve the takeover by Friday.
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