LOVE YOU LONG TIME

Last updated : 12 May 2004 By Editor
Interesting to see some Scousers railing against the Thai brass attempting to seduce them instead of just looking for a cheap shag like the classless Chelsea muppets who embraced Abaramovich. Meanwhile there’s a Mickey entered the fray, from the Mirror:

Building tycoon and Liverpool fanatic Steve Morgan has made a last-ditch bid to keep the club out of foreign hands. The millionaire former Redrow Homes boss yesterday tabled a £73million offer that trumps the £63m deal being finalised with Thai Prime Minister Thaksin Shinawatra.

Morgan has upped his original bid, made two months ago, from £50m, and proposed a deal where he will underwrite a reserve shares issue to new investors, making the profits available to the club, and not private shareholders.

That means Morgan - in his bid which was hand-delivered to Anfield yesterday - will guarantee the sale of new shares to all investors, but allowing both himself and current owner David Moores to take up the investment.

In return Morgan wants a place on the board...but, crucially, would not stand in the way of his arch-rival and long-term adversary Moores maintaining his controlling interest in Liverpool. In the past, the Jersey-based building magnate had campaigned for current chairman Moores to step aside, to allow new blood.

His proposal looks certain to force the club to put on hold a rival bid from the Thai Prime Minister, which was set to be ratified in the near future, possibly by the end of the week. Moores and his chief executive Rick Parry have promised to consider closely any relevant offers and now they are likely to ask for time from Shinawatra to talk once more to Morgan.

The club has appointed independent advisors Hawkpoint to consider all offers and Morgan's move has placed them in a difficult position. He is the third biggest shareholder in the privately- owned club, and has been a lifelong Liverpool fan.

Morgan last night insisted he still holds out hope of outbidding the Thais, and he added: "There still could be some developments, it isn't over yet."

Morgan wants his share issue to be offered first to the fans of Liverpool, who will be allowed to buy single shares at between £3,000-£4,000 each.

He said: "The future of Liverpool is best served by the people who love the club the most, its supporters, of whom I am proud to be one. This proposal will not only keep ownership of the club with its supporters, where it rightfully belongs.

"It will also inject £73m into strengthening the playing squad and help finance the proposed new stadium.”