US-based New England Sports Ventures (NESV) has concluded its protracted takeover of Liverpool Football Club (LFC) in a deal worth £300m.

NESV completed the purchase on 15 October, following a week of legal battles between the Premier League club and its former owners, Tom Hicks and George Gillett. The transaction will enable LFC to wipe out all of the acquisition debt placed on it by Hicks and Gillett and cuts the debt servicing obligations from £25-30m to £2-3m a year.

NESV principal owner John Henry has so far refused to commit to building a new stadium for the club at Stanley Park or set out how much will be allocated to invest in playing staff. However, Henry - who also owns the Boston Red Sox baseball team - said: "It's too early to say what we're going to do but we're here to win.

"We have a tradition of winning - we [the Boston Red Sox] are the second-highest spending club in Major League Baseball and we're here to win, we will do whatever is necessary." NESV chair Thomas Werner said: "NESV is committed to creating a long-term, financially strong foundation for the Club and dedicated to ensuring the Club has the financial resources to be successful again and attract the best players."

However, Matt Taylor - solicitor at law firm Eversheds - said: "We will have to wait and see whether [Hicks and Gillett] choose to continue with a claim in damages and whether that claim actually has any merit at all."