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XT Post Number King
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Morgan ready to invest £50M into Liverpool
tribalfootball.com - March 23, 2004

Building magnate Steve Morgan is ready to plough £50 million of his fortune into Liverpool.

Lifelong fan Morgan has been Anfield chairman David Moores' loudest critic and there is no love lost between two of the richest men in the land.

A source close to the club told The Sun: "I understand Steve wants to become a director with an equal stake in the club which would mean the chairman reducing his 5l per cent investment and both men holding 37 per cent.

"It is no secret that the two don't get on.

"Steve has the money Liverpool need and has also offered to help with the construction of a new stadium which would cost £120m."
 

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Winter is Coming.
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from the BBC

Morgan denies Reds takeover


Liverpool chairman Moores (left) is the club's majority shareholder
Building magnate Steve Morgan has denied launching a takeover bid for Liverpool insisting he just wants to invest in the Merseysiders.
The multi-millionaire was reported to have made a bid of between £40m-£50 for a controlling interest in the club.

But a source close to the board said they were considering a share issue, which would allow Morgan an influential voice in the boardroom.

"It's not a takeover. Steve just wants to put money into the club," he added.

With a 5% stake in Liverpool, Morgan is Liverpool's third biggest shareholder - chairman David Moores has a 51% majority stake, while Granada owns 10%.

A share issue would allow Morgan to increase his stake in the club massively, maybe to as much as 15%.

There is the prospect of Granada's shares coming on to the market in the future, with the TV company's policy now seemingly moving away from football.

Morgan could also bid for that stake, but it is not believed this is the current deal being negotiated.

There are 42,000 shares available, at a cost of £4,000 each, and they rarely come on to the market.

Liverpool are not a plc and Moores controls the club with his stake.

Block

Morgan's buy-in would reduce Moores' percentage but would still leave him as the majority shareholder.

Morgan has wanted a seat on the board for some time and if he is prepared to invest £50m, it is hard to see how Moores could, or would, be willing to block that.

The money would be used to part-finance the new Stanley Park stadium and transfers.

It would also mean Liverpool would not have to borrow so much money to finance their move from Anfield to nearby Stanley Park, for which they are still awaiting planning permission.

Morgan was hugely critical of the financial package to fund the new stadium and he openly attacked Moores and the board at the January Annual General Meeting.

It was at that meeting that Moores finally agreed to discuss a partnership with Morgan.

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Initially we heard of a takeover bid, but now it's down to investing monies in the club. Personally i'm not sure of this Morgan fellow, but i heard he sits on the Kop and is a passionate Red. there's only one change neccessary right now in my mind. Don't know what would happen if there was a take over bid.

Comments?
 

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Hi ON..

Well you've voiced my opinion too.. Personally, I want a change in the board ASAP.. well I want a change in their laid back style (vs. the club's expectations).. but I think we've got to the point where we understand that it won't happen with them in charge.. the past 2 years is my proof..

But it all comes down to who Steve Morgan is.. Of course, I have NO idea as I'm half way across the globe away from Liverpool.. So maybe the Merseysiders or whoever has the info could give us a clue.. Red Mist, CardiffRed, DocRule, Razor and co...

If what we've heard is correct.. and he's a die hard Liverpool fan and passionate and all.. then I would want this to go as a full take over.. but again, I don't know the total picture.. (So don't hold that sentence against me :D)
 

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Interesting times.

Well more worrying than interesting. While Morgan is indeed a Liverpool fan his ideas aren't exactly being embraced by Liverpool Supporters.

Currently he wants to invest enough to dilute the stake Moores has in the club and increase his stake enough to get a significant say on the board. Unfortunately Moores and Morgan don't get on and I can't see them co-existing .

My take on this is that Morgan is preparing a take over, but is putting in the groundwork first. He's upping his share and diluting Moores' by suggesting a share issue but stopping Moores from buying any. This will inevitably be followed by some pretty ugly boardroom disagreements and I think Morgan will eventually gain overall control.

That's all great you may think, he has cash, he wants Houllier out what could be better.

Morgan is a big fan of a Liverpool/Everton Groundshare, he's also a keen on the idea of Liverpool renting as opposed to buying a stadium which means we lose a lot of revenue. Funnily enough I think Morgan would be the contractor behind the stadium so he, or his partners, would own the stadium and collect rent from both clubs.

Morgan is also a fan of floating Liverpool on the sttock exchange, turning Liverpool into a PLC much like Leeds and Man UTD, this would mean less cash being put back into the club (because dividends would have to be paid to shareholders).

Oh and he's a big fan of Keegan…..BIG fan.

Personally I can't see Moores accepting the proposal because it would mean losing overall control and also losing money on his shares. So I'd expect a counter offer from Liverpool to be lodged in the next week or so.
 
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Morgan wants 3 things:

1) For Liverpool to become a PLC
2) A Liverpool/Everton groundshare
3) Houllier OUT!

Well, 1 worked well for Manure, 2 would enable us to build a bigger and better stadium and 3 would be a great thing for the club.

He has said many times that he doesn't want Keegan as manager, he just admires his passion and love of attacking football.
 

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Doc, IF he was to become chairman (which at the moment he is denying is his intention) Then I wouldn't rule out a Dalglish/Keegan partnership or some other ridiculous combination.

Just a hunch.

Oh and while it worked for Man U it failed miserably for Leeds, the market has lost interest in football clubs and a move into flotation would be a dangerous step.

Views on renting instead of buying a ground?
 
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he doesn't want to be chairman, said he can't commit the required time. He wants a seat on the board, which he should already have. Moore's is scared of him because of the power he has withing the board, Houllier is scared as well because if Morgan gets on the board, regardless of where we finish this season, Houllier will be out of a job.

I've heard Morgan wants Kenny back as technical director, ala David Pleat at Spurs. I'd be against that, dislike creating nonsense jobs for past legends, although he does want to bring back Evans as Director of Youth, which Imo would be great.


Leeds would have been fine if they'd have a decent chairman who had been patient. They had a lot more work to do than we did, as far as building a team, and they spend foolish amounts of money in such a short period of time, plus they had a poor manager who had no winning pedigree.

I'm unsure about the groundshare issue. It would mean getting a bigger and better stadium, and paying a lot less for it. That American company who build the Philadelphia Eagles new stadium, and the new stadium in New England offered to build us a state of the art 70,000 all seater stadium, with a retractable roof, which when the price is split between us, Everton and the council (who said they'd pay 1/4 the price if we shared), the cost on us would be less than we are going to pay for that horrible stadium they want to build, plus the ongoing upkeep costs would be down, because we would split them with Everton. People say that Everton wouldn't fill it for their games(i think they would more often than not) but so what?? that's there problem.

Other issue would be, would we want them standing on our end for their home games, simple solution, we take opposite home ends. Also the colour of seats, I'm sure that the yanks could do something about this. There's a stadium in Japan(i think it's Japan anyway, could be Korea either) with revolving seats, one set is green, the other is white and they can revolve. If the white ones are on view and the green seats are needed, the seats move out and turn over and the white ones going into the ground, and the seats move back to their position with the green seats out for use.

Liverpool FC as a club, and the fans who go to see them play every week should have, and deserve, a stadium to rival any in the world. If a groundshare can get us that, then let's do it.

Only thing against it is the smell them manky blue ***** would leave behind.
 

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Hadn't heard the Evans rumour, my choice for a role with the kids would be Rush, he's currently doing very very well with the Welsh u17's and they are 1 game away from qualifying for a major youth tournament having beaten the Portugal U17's a month or so ago.
 
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for 20+ years Roy had a big hand in the youth side of things, and he brought us some great players. It's hardly a surprise that the three homegrown players in our first 11 where all brought to the club under his tenure. Rush as a youth team coach, working under Heighway, would be fine, but for over-seeing the whole thing, and getting the top prospects into our club, IMO Evans would be great.
 

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Yeah wasn't talking about Rush in director terms but u17s coach or whatever
 
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I'd have no probs with Rushie working with the youths as a coach, as you say, he's done well with the Welsh 17's. As long as he stops his nonsensical praising of Hooflier.
 

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I dont want a PLC or a ground share, the more this Morgan issue is around the less i warm to it or him as a person.OK he also wants Houllier out but who does he want in ? I have heard stories about him sitting in the boxes telling Terry Owen his sons flaws etc and watching Milan Baros score and asking who the hell is that.I'd rather take MORE money from these Thai's, they dont wanna take over the club, all they want is a link to develop footy in Thailand, they would also boost our brand in Asia significantly, they would also be our new sponsor etc And apparently as part of them investing(approx 40m for this summer and 20-30m into the club ontop of 4m a season when the Carlsberg sponsorship runs out, then "Chang" Beer would be our sponsor) Houllier would have to go as there condition, apparently they were told dont worry about that condition because it will be taken care of in the summer.It's a important time anyway...
 
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Why not take money off both of them?? with all that cash PLC is unnecessary.

I still think we need to get a better stadium than the one they've suggested, whether it's a groundshare or not.
 

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Morgans been told to piss off it seems...

Liverpool Football Club have rejected Steve Morgan's proposed injection of cash into the club via a rights issue.

Morgan is Liverpool's third largest shareholder with a five percent holding but despite offering to throw tens of millions at the club, he has been knocked back by the Anfield board.

A statement on behalf of the property tycoon said: "He has made a formal conditional proposal to underwrite a rights issue, which would result in a very significant injection of new capital into the club.

"The purpose of the proposed rights issue would be to strengthen the playing squad and to assist in the financing of the planned new stadium.

"The proposal has been turned down by the Liverpool board. Mr Morgan now awaits the outcome of the board's strategic and financing review with interest."

If you believe the rumours, if Morgan was given a say in the running of the club he would want Gerard Houllier axing and he would favour a groundshare with Everton.
 
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Moores is scared, simple as. He doesn't want Morgan on board because it takes the majority of power away from his blinkered and past-it ideas about the club. Reminds me of Chelski a few years ago with Bates and that guy that died(Harding?). Morgan is a real fan and wants what's best for the club, Moores wants whats best for him and his followers. i bet if Morgan offered Moores £50million directly for a chunk of his shares he'd take it though.
 

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I think it would be terrible to have a groundshare,your ground should be your own little community,it should be your castle.

if the Arse and Spurs shared i would feel unclean having known Spurs fans use it every other week,i know Liverpool and Everton are closer together but still you should try to keep your little communities seperate if you can.
 

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Scared?

The offer was never going to be accepted because it wasn't beneficial to Moores.

If he had agreed he would have diluted his share AND lost money on the shares he does own when the price was driven down.

Can't think of anyone who would have said yes to be honest.
 
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he wouldn't have lost money, he'd have gotten back what the shares were worth, anyone who really cared about the wellbeing of the club would have accepted it.
 
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