Houllier future still in doubt as Morgan offer rejected

THE LIVERPOOL saga took another dramatic turn yesterday as multi-millionaire building magnate Steve Morgan admitted defeat in his efforts to invest in Liverpool after having a second offer rejected by the club.

Morgan's original £73 million offer was turned down after Liverpool directors claimed he had undervalued the current worth of the club, and a revised offer made earlier this week was also rejected.

The Liverpool fan consequently announced he "is reluctantly withdrawing his offer to underwrite an injection of much-needed new capital" into the club.