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Hicks has thrown in the towel LFC owners to pursue $1.6 billion from "epic swindle" Hicks and Gillett withdraw TRO blocking sale of Liverpool Football Club. Action prevents RBS from needlessly putting Club into administration. RBS rejected owners' pledge to pay off all debts by October 15. Attorneys say ludicrous, self-serving and illegal behavior from directors and outsiders to hinder Club for years. "It's an extraordinary swindle and it will result in exactly the wrong thing for the Club and the fans." Those were the words used by attorneys representing Liverpool Football Club owners this morning when they announced they would apply all of their legal energies toward securing at least $1.6 billion in damages they expect will result from the proposed illegal sale of the Liverpool Football Club. Attorneys also stated that protracted litigation concerning the Liverpool transaction will now cause even more uncertainty for the LFC. "This outcome not only devalues the Club but it also will result in long-term uncertainty for the fans, players and everyone who loves this sport because all legal recourses will be pursued," said Steve Stodghill, the Texas attorney representing the Liverpool owners. "Mr. Hicks and Mr. Gillett pledged to pay the debt to RBS so that the Club could avoid administration that was threatened by RBS. That offer was rejected. It is a tragic development that others will claim as a victory. This means it won't be resolved the way it should be resolved. My clients worked tirelessly to resolve these issues but RBS would not listen to any reasonable solution and the Directors acted selfishly and illegally." Stodghill said the owners have no choice but to pursue every legal avenue possible, and they will. "Mr. Hicks and Mr. Gillett wanted to position this club for the future, but others have a different agenda," said Stodghill. "In truth, there is nothing positive from these events for Liverpool Football. That is exactly the opposite of what my clients wanted to achieve. "