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Liverpool have announced that it has accepted a takeover bid from the owners of the Boston Red Sox baseball team.

The consortium is led by multi-millionaire John W. Henry and New England Sports Ventures (NESV). On Wednesday, Liverpool chairman Martin Broughton, who is in charge of facilitating the sale of the club, said in an interview for the BBC that there were two credible offers on the table. Henry has a reported wealth of £540m ($860m) according to the BBC, and has a portfolio of well run sports businesses including Boston Red Sox. Reports from the BBC and Guardian cite that NESV will stump up £300m to assume full control of the club, and clear the club's crippling debts standing at £240m in bank loans and fees owed to the Royal Bank of Scotland and Wachovia. The rest of the investment will be distributed to working capital resources and bankrolling the long-awaited Stanley Park stadium.

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