(CNN) -- New England Sports Ventures (NESV) completed its protracted takeover of Liverpool Football Club Friday, its owner confirmed Friday.
The $480 million-deal was agreed after previous owners Tom Hicks and George Gillett withdrew their temporary restraining order blocking the sale on the grounds that it undervalued the club.
"I can't tell you how happy I am that we finally got to this stage," said John W. Henry, the head of NESV, who also own the Boston Red Sox baseball team.
"We're going to do a lot of listening. We have a lot to learn, but our actions will hopefully speak louder than words".
The deal eliminates the English Premier League Club's debt obligation -- believed to be around $377 million -- to the club's main creditor, the Royal Bank of Scotland (RBS).
Liverpool Chairman Martin Broughton, whom Hicks and Gillett hired to find a buyer, said in a statement: "I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive.
CNN
