London, England (CNN) -- One of England's most famous soccer clubs has been sold to the American owners of baseball's Boston Red Sox following a protracted Trans-Atlantic legal battle. John W. Henry, the head of New England Sports Ventures (NESV), confirmed in London Friday that the company's $480 million deal to buy Liverpool Football Club had finally been completed. Liverpool's previous owners Tom Hicks and George Gillett, who are also American, earlier withdrew their temporary restraining order blocking the sale, having twice gone to a court in Texas to prevent the transaction. "I can't tell you how happy I am that we finally got to this stage," Henry told a throng of reporters.
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New England Sports Ventures completes $480 million deal to buy Liverpool
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Previous owners remove legal barrier to what they called "illegal" sale
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Tom Hicks and George Gillett now planning a $1.6 billion damages action
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NESV removes debt obligation to main creditors the Royal Bank Of Scotland
Royal Bank Of Scotland
@placeholder, which had set a Friday deadline for Hicks and Gillett to repay the loan used to finance their 2007 purchase of Liverpool, said any legal action by the pair "will be vigorously opposed."
New England Sports Ventures
NESV
New England Sports Ventures
NESV
"RBS is pleased the sale to @placeholder has been completed and is confident this will provide the foundation for the club and its fans to enjoy renewed success on and off the pitch," the bank said in a statement.
John W. Henry
Henry
@placeholder, meanwhile, had pledged to fight Hicks' "last desperate attempt" to hang on to Liverpool.
Liverpool Football Club
Liverpool
Liverpool
NESV promised that if its offer was successful, it would keep all acquisition debts away from @placeholder's football operations and stabilize the club in order to return it to its glory days.