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Lim bids higher for Liverpool

Singaporean billionaire offers £320m cash for top club.

Singaporean billionaire Peter Lim has renewed his bid for Liverpool FC, offering £320m in cash, beating the £300m offer by New England Sports Ventures (NESV) which was accepted last week by the club's board.

Meanwhile, the London High Court on Wednesday ruled against the club's owners, saying they have no power to stop the management from going ahead with the sale of the debt-ridden club to NESV, as agreed last week.

The owners Tom Hicks and George Gillett had argued that the NESV offer undervalued the club and the management had gone forward with that bid without considering better alternatives.

Lim's earlier offer of £300m was rejected by the club in favour of NESV's bid which had promised to pay £10m to the club's lender, the Royal Bank of Scotland in fees.

The billionaire's latest offer additionally promises £40m in cash to buy new players, and is considered hard to reject. However, his new bid would be considered only if NESV walks away or Liverpool goes into administration.

The Telegraph reports that Lim could yet sue the club over the initial sales process which favoured NESV's bid over his own.