New England Sports Ventures today completed the £300million takeover of Liverpool

New England Sports Ventures today completed the £300million takeover of Liverpool with new owner John W Henry saying he is "proud and humbled" by the responsibility.

The owners of the Boston Red Sox have taken control of the club after Tom Hicks and George Gillett were defeated in their legal battle to stop the takeover.

Hicks and Gillett are promising to sue for more than £1billion but their hugely unpopular three-and-a-half-year rein at the club is over.

NESV said the club's debt servicing costs would drop from £30million a year to £2million-£3million.

Henry, the principal owner of NESV, said: "On behalf of the entire NESV partnership, I want to express how incredibly proud and humbled we are to be confirmed as the new owners of Liverpool FC.

"We regard our role as that of stewards for the club with a primary focus on returning the club to greatness on and off the field for the long-term.

"We are committed first and foremost to winning. We have a history of winning, and today we want LFC supporters to know that this approach is what we intend to bring to this great club."

Liverpool's independent chairman Martin Broughton added: "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 offer on the basis that it best met the criteria we set out originally for a new owner. NESV is buying Liverpool in order to put it on an excellent financial footing and continue to develop it internationally.

"This is a good deal which comprehensively resolves the pressing issue of the club's debt and should give staff, players and fans great confidence regarding the future of Liverpool FC."