Liverpool's potential takeover in pictures

Sixty-one-year-old American John W Henry, the owner of the Boston Red Sox baseball team, is the man behind the £300m takeover bid. Henry's New England Sports Ventures (NESV) group has enjoyed notable success on the ballpark, turning the Red Sox into World Series victors twice since their takeover in 2002. Here, Henry is seen celebrating their win over the Colorado Rockies in 2007 Photograph: Stan Grossfeld/LANDOV/Press Association Images

Liverpool's existing owners, George Gillett and Tom Hicks, bought the Reds that same year, but the club's fortunes have gone downhill since. Liverpool lost the Champions League final to Milan in May 2007 and, despite an improved season in 2008-09, they finished seventh last term, failing to qualify for Europe's top club competition. Their league start this season has been their worst since 1953-54 (when they were relegated) Photograph: Peter Byrne/PA

Liverpool's fans have made their feelings clear toward the incumbent owners Photograph: Tim Hales/AP

But despite their protests, Hicks and Gillett have refused to sell the club and have dismissed potential takeovers from numerous quarters Photograph: Joe Giddens/EMPICS Sport

When Hicks and Gillett bought Liverpool, they promised to oversee a move to a new stadium in Stanley Park, though the promise remains unfulfilled Photograph: Jon Super/AP

In January, Tom Hicks Jr was forced to apologise to a fan after sending an abusive e-mail to him in response to criticism of his father's tenure Photograph: Paul Thomas/AP

In-fighting between Hicks and Gillett further strengthened the feeling of resentment towards them on the terraces Photograph: Clive Brunskill/Getty Images

Following Rafael Benítez's exit in the summer, Roy Hodgson was installed as manager. But Hodgson has managed only one league win in seven matches. The 2-1 home defeat to Blackpool on Sunday led fans to chant for Kenny Dalglish to take over Photograph: Alex Livesey/Getty Images

Henry's attempt to buy the club will not threaten Hodgson's job. The former Fulham manager will be given time to improve results and performances on the field Photograph: Steven Senne/AP

However, Gillett and Hicks are adamant that Henry's £300m valuation of the club is insufficient and, despite the initial approval of the offer from the club's board, the duo intend to resist Photograph: Peter Byrne/PA Photos

Martin Broughton, the Liverpool chairman, has insisted that an attempt by the club's owners to frustrate the sale of the club is a "flagrant abuse" of "written undertakings" and that he is the only person entitled to do such a thing Photograph: Mike Egerton/EMPICS Sport

Legal action is expected to be necessary to determine whether Hicks and Gillett will finally be shown the exit door Photograph: Peter Byrne/PA