8:26pm UK, Monday October 18, 2010
Hazel Baker, Sky News Online
The chairman of Liverpool football club is to step down after the sale of the club is completed, Sky's City editor Mark Kleinman has exclusively revealed.
Martin Broughton (R) will leave after the club is sold to John Henry (L)
Martin Broughton is leaving to become the chairman of a new firm called Sports Investment Partners.
The company will be run by Mr Broughton's son Michael and will plough hundreds of millions of pounds into sport-related businesses.
"The fact that Broughton plans to step down as chairman of Liverpool after a short transition period (possibly of as little as several weeks) will surprise few people," Kleinman said.
"However, the details of his involvement in his next major venture will be of interest to the City and beyond."
The move comes after Liverpool's chairman last week secured a £300m takeover of the club after a legal battle with current owners Tom Hicks and George Gillett.
Mr Broughton was greeted with cheers from hundreds of fans who had gathered outside court on Wednesday to hear the decision that would determine the future of their beloved club.
Chants of "We love you Martin," broke out when the chairman stepped out of the court having seemingly won the rights to sell the club.
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Now that's a shame, although expected I suppose.