By Adam Shergold for MailOnline
Published: 12:05 GMT, 3 December 2019 | Updated: 13:53 GMT, 3 December 2019
Former Liverpool owner Tom Hicks has admitted it was a mistake to partner with George Gillett to buy the Anfield club and says he desperately tried to buy him out.
The American investors took over the Merseyside club in February 2007, shortly before they reached a second Champions League final in three seasons, for £435million but the project ended in expensive failure three years later.
Their takeover cost in the region of £435m, comprising £220m to buy out existing shareholders, including £44.8m of debt, plus a pledge of £215m to build Liverpool a new stadium in Stanley Park, which never materialised.
Tom Hicks (right) and George Gillett bought Liverpool in 2007 in a deal that totalled £435m
Hicks has now admitted it was a mistake to go into partnership with Gillett at Liverpool
Fan groups had urged Hicks and Gillett to sell their shares to Dubai International Capital as early as 2008, but when Gillett agreed to sell 98 per cent of his stock the move was blocked by Hicks.
They lost their grip on the club to John Henry and his New England Sports Ventures group in November 2010