Gillett and Hicks have also endured a fractious relationship with each other, which early on in their reign threatened to undermine their ownership with the former revealing the partnership had become "unworkable".
In 2008, Hicks blocked Gillett's moves to sell his 50% share to Dubai International Capital group as the pair feuded over future plans for the club.
An outright £500m takeover bid by the DIC group was also rebuffed, with Hicks hinting he would attempt an outright takeover bid of his own.
They subsequently patched up their differences but took the decision less than four months ago to put the club up for sale, insisting there had been numerous expressions of interest in a buyout.
British Airways boss Broughton was brought in as Liverpool chairman in April to facilitate the sale of the club and along with Hicks and Gillett is part of a five-man board at Liverpool that also includes chief executive Christian Purslow and commercial director Ian Ayre.
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