Sports ownership deals are coming fast these days, and we’ve got one today that is bound to be contentious and might result in some delicious courtroom litigation. The deal: New England Sports Ventures, the John Henry-led company that owns the 2004 and 2007 World Series champion Boston Red Sox, has agreed to purchase the struggling Liverpool Football Club for a sum believed to be between $400 million and $500 million, according to The New York Times, The Wall Street Journal, and Legal Week. One wrinkle: the soccer team’s current owners, Tom Hicks and George Gillett, oppose the deal, arguing it undervalues the club.
Here’s the law firm break down, courtesy of Legal Week and some of our own reporting: Weil, Gotshal & Manges is advising the Hicks/Gillett side. Weil has long represented Tom Hicks, a legendary Texas magnate who has owned a bundle of sports teams over the last 20 years. The firm recently advised Hicks in the ultracontentious sale of the Texas Rangers to a group led by Hall of Fame pitcher Nolan Ryan and former Pepper Hamilton partner Chuck Greenberg, according to our prior reporting. Weil’s Glenn West, one of Hicks’s go-to attorneys, did not immediately return a call seeking comment.
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