An out-of-court settlement has been reached regarding disputes over the sale of Liverpool in October 2010.

Former owners Tom Hicks and George Gillett were upset about the sale of the club by then directors Sir Martin Broughton and Christian Purslow, along with current director Ian Ayre.

As a result, a number of allegations were made by the former owners against the three directors which resulted in legal proceedings as the allegations were denied.

Now though, Liverpool have released a statement saying a settlement has been reached and the claims have been withdrawn.

The statement reads: “The parties have now agreed a settlement [the terms of which are confidential].

“All claims and allegations made against Messrs Broughton, Purslow and Ayre have been withdrawn by Messrs Hicks and Gillett and all legal proceedings between the parties concluded.”