Fight to stop Thai PM investing in Reds

Liverpool captain: Steven Gerrard

14 April 2012

Property tycoon Steve Morgan today launched a rival bid for Liverpool in an attempt to stop Thai Prime Minister Thaksin Shinawatra taking a 30 per cent share in the club.

Morgan has written to Liverpool asking for talks over a £73million bid, part of which would come from a rights issue underwritten by him.

It is the second time this season Morgan has offered to invest in the club and comes the day after Liverpool chief executive Rick Parry met Shinawatra. The Thailand Government claimed today that a deal with Liverpool had almost been agreed but Morgan is determined to stop that happening.

"In my view, the future of Liverpool Football Club is best served by the people who love the club the most, its supporters, of whom I am proud to be one," said Morgan in a statement today.

"This proposal will not only keep ownership of the club with its supporters, where it rightfully belongs. It will also inject £73m of new capital to strengthen the playing squad and help finance the proposed new stadium."

Morgan's proposal comprises a rights issue, which is expected to raise £61m, and a new share issue directed at supporters aimed at generating a further £12m. Morgan, the former owner of building company Redrow, would underwrite the share issue through his company Bridgemere Investments Limited.

"This proposal would keep the club under the control of its true supporters and enable the ordinary fans to participate in the fortunes of the club for the first time," the statement said.

"In addition, the club's commercial rights to Asia and indeed any other part of the world would remain where they belong - - in the ownership of the club. This would enable LFC alone to benefit from the use of these rights, which is essential to generate future income."

Morgan will explain his plans in more detail at a press conference tomorrow.

Thailand Government spokesman Jakrapob Penkair said today that the majority of the cash for their bid would come from public money and not Thaksin, as previously believed.

"We will buy it in the name of Thailand," said Penkair.

However, the proposed link-up was today criticisedby human rights group Amnesty International. Spokesman Neil Durkin said: "Thailand's human rights record has been a particular concern. In three months last year, 2,245 people were killed."

Liverpool are keen for new investment to help fund a move to a new stadium on Stanley Park in time for the 2008 season as well as to pay for new players.

Although Liverpool have had a poor season they will claim the final Champions League position providing they beat Newcastle at Anfield on Saturday.

Liverpool striker Michael Owen is desperate for them to achieve that.

He said: "We've taken a step back this year and need to take two forward next year."

Owen indicated he will sign a new contract at Anfield. Talks have begun, but the striker, whose deal runs in 12 months, stresses that the club's ambitions have to match his own.

"We will sort something out this summer. I do see myself being at Liverpool next year.

"I won't be doing a Bosman or anything like that. It's never been about money. I want to win things. I've never been anywhere else but I want to be successful."

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Fight to stop Thai PM investing in Reds

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