Hicks and Gillett drop Texas lawsuit

Former Liverpool co-owners Tom Hicks and George Gillett have dropped their £1bn (€1.14bn) Texas lawsuit against Royal Bank of Scotland and the club’s directors but could still launch action in England.

Having spent the last week dragging his case through the courts to oppose a £300m (€343m) sale to New England Sport Ventures – which went through this afternoon – the American duo dropped the $1.6bn (€1.14bn) claim initially lodged in a Dallas court.