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The battle over the take-over of Liverpool appears to now, be over.

The owners of Major League Baseball's Boston Red Sox completing on Friday, their 300 million pounds purchase of the Premier League club while also eliminating the club's debt.

New England Sports Ventures or NESV are being welcomed by jubilant fans but the sale is being dismissed as an "epic swindle" and "organised conspiracy" by ousted co-owners George Gillett and Tom Hicks.

After a week-long saga that involved legal action on both sides of the Atlantic, it appears the immediate future of Liverpool Football Club has been resolved.

John W. Henry - the financier who heads New England Sports Ventures - and the club's chairman Martin Broughton announced the takeover.

Martin Broughton, Liverpool Chairman, said, "As every Liverpool fan knows, the most nerve-wracking way to win a match is in a penalty shoot-out. But in the end, as long as you get the right result, it's worth the wait. We got the right result. John, it's over to you."

The sale finally went through after previous owners Tom Hicks and George Gillett withdrew a temporary restraining order, preventing any sale, that was obtained in a Texas court.

Hicks initially described the deal as an "extraordinary swindle".

The legal process may not yet be fully resolved, but NESV has confirmed that the debt loaded onto Liverpool by the previous owners has been wiped out. The new owner expressed his confidence to turn the fivetime European champions onto right track with his finance.

John W. Henry, New Liverpool Owner, said, "It's too early to say what we are going to do, but obviously we are here to win. We have a tradition of winning, we have the second-highest spending club in Major League Baseball and we are here to win.

So, Liverpool have suffered their worst start to the season since 1953 and are currently 18th in the Premier League. To make matters worse, on Sunday they visit cross-city rivals Everton for a Merseyside derby. But for new manager, Roy Hodgson, with the promise of money to spend after Christmas, an overhaul of Liverpool's squad looks imminent.

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