Chief executive to leave Liverpool after restoring stability

The chief executive of Liverpool, who restored stability to a club that was on the brink of bankruptcy six years ago, has decided the leave the role next year.

Ian Ayre oversaw the transition from the financially troubled ownership of American businessmen Tom Hicks and George Gillett Jr. to the takeover by John Henry's Fenway Sports Group in 2010.

FSG, which also owns baseball's Boston Red Sox, wanted Ayre to remain as CEO beyond the end of his current contract in May 2017.

But Ayre says it's time for a new CEO to "take on the challenges and opportunities with a fresh enthusiasm and vigor."

Ayre first joined Liverpool under Hicks and Gillett in 2007, rising from commercial director.