Liverpool chairman Martin Broughton accepted one of the "two excellent offers" on the table and the club will be sold to Boston Red Sox owner John W Henry subject to Premier League approval and the resolution of the board dispute with the co-owners. Central to the need to sell the club has been the October 15 deadline for the repayment or refinancing of £282m of loans - owed principally to the Royal Bank of Scotland (RBS).. Hicks has been attempting to shift the debt to an alternative loan company but the rest of the board opposed the proposed restructuring last month. Hicks remained steadfast in his belief there was a profit to be made from the sale of Liverpool but, with the prospect of RBS having to call in their debt and possibly take control at Anfield, a process that would involve putting the club into administration with it incurring a 10 point penalty, the value of the club has been falling. Liverpool will be sold for a price of £300m which will cover the RBS debt, but would not return a profit to Hicks and Gillett. A club statement from Broughton read: "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 proposal on the basis that it best met the criteria we set out originally for a suitable new owner. NESV's philosophy is all about winning and they have fully demonstrated that at Red Sox. We've met them in Boston, London and Liverpool over several weeks and I am immensely impressed with what they have achieved and with their vision for Liverpool Football Club. By removing the burden of acquisition debt, this offer allows us to focus on investment in the team. I am only disappointed that the owners have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale." The boardroom battle between Hicks and Gillett and chairman Broughton, managing director Christian Purslow and commercial director Ian Ayre escalated to a new level on Tuesday night when the American duo attempted a coup. Hicks and Gillett, who reportedly rejected both offers to buy their stake in the club tried to replace Purslow and Ayre with Hicks's son, Mack, and Lori Kay McCutcheon, the financial controller at the Texan's company Hicks Holdings. The reshuffle was rebuffed as the two club officials, backed by the chairman, out-voted the Americans three to two and on Wednesday morning Broughton announced to club had accepted the offer from NESV over a rival proposal from an unnamed Asian investor. Hicks and Gillett are expected to explore legal channels to oppose the sale but a statement from Broughton, Purslow and Ayre pointedly expressed they would "continue to explore every possible route to achieving a sale of the club at the earliest opportunity''. Liverpool chairman Martin Broughton expects New England Sports Ventures (NESV) to complete their £300 million takeover of the club "in about a week". Speaking about the sale, Broughton said: " I would hope we will get the judgement by the end of next week." He added: "The key thing is the court case. We need to go to the court to get a declaratory judgement ... then the buyers can complete the sale. We have to get Premier League approval and I'm certain that's not going to be an issue." The Premier League have confirmed in statement they have been kept informed of developments at Anfield and expected the board to complete all the necessary processes by Friday so that the sale can proceed. ESPNsoccernet, however, has been told that the legal battle could be long and messy."Who knows how long that could take, it could take a long time," a Liverpool source revealed.