Liverpool FC has confirmed the club is to be sold to New England Sports Ventures (NESV), owners of the Boston Red Sox.
Speaking to the club’s official site, chairman Martin Broughton said: "I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive. The board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner. NESV's philosophy is all about winning and they have fully demonstrated that at Red Sox.
"We've met them in Boston, London and Liverpool over several weeks and I am immensely impressed with what they have achieved and with their vision for Liverpool Football Club.
"By removing the burden of acquisition debt, this offer allows us to focus on investment in the team. I am only disappointed that the owners have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale."
The sale, which is subject to Premier League approval, will bring to an end a turbulent period for the Merseyside club. will. A resolution to the legal dispute between current owners George Gillett and Tom Hicks will also be needed for the sale to go ahead.