Liverpool Sale Saga, Continued: Hicks, Gillett Withdraw Restraining Order

The sale of Liverpool FC to New England Sports Ventures (NESV) has overcome its final hurdle, with soon-to-be former co-owners Tom Hicks and George Gillett withdrawing a temporary restraining order blocking the club's sale. Now the transfer, approved by LFC's board of directors last week, can proceed, though Hicks and Gillett are now set to pursue damages, according to the BBC.

Early Friday morning it was announced that a temporary restraining order, granted early this week in a Texas court, had been withdrawn as Tim Hicks looked to sell his shares of the club to Mill Financial, a U.S.-based hedge fund. The Premier League rejected Mill's request to undergo a fit and proper test, saying they would only work with the Liverpool board.

That setback has left Hicks with little recourse than to accept defeat in the face of today's deadline to repay loans to the Royal Bank of Scotland. NESV hopes to complete their purchase today, with Hicks and Gillett set to "pursue every legal avenue" for what they estimate to be £1 billion in damages.

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