Liverpool have agreed to an offer from American businessmen George Gillett and Tom Hicks to buy the club in a deal worth almost £219 million.

A statement was made to the London Stock Exchange stating they have agreed the terms "of a recommended cash offer" to be made by Kop Football Limited, the American pair's bid vehicle.

The statement read: "The offer is £5,000 in cash for each Liverpool Share, valuing the issued share capital of Liverpool at approximately £174.1million.

"Together with the £44.8million of net debt in the club as at December 31 2006, this represents an enterprise value for Liverpool of £218.9 million."

The statement revealed the board "unanimously recommends" that shareholders accept the offer. The club's board also revealed key factors in their decision to accept the proposal.

"Kop has indicated its intention to build, as soon as reasonably practicable, the proposed new 60,000 seat stadium at Stanley Park for which the club has already received planning permission and to facilitate the financing of its construction

"Kop has indicated that it is committed to an annual budget for player transfers and is able to supplement this should Liverpool's management and Kop agree additional funds are required.

"Kop is supportive of both the current executives and the football team management at Liverpool to provide stability to the club."