Liverpool reject Morgan's £50m investment offer

BUILDING tycoon Steve Morgan yesterday revealed Liverpool turned down his bid to inject £50 million (€75m) into the club in a shares issue.

However, Morgan's announcement could be viewed as the first shot in what could prove to be a long battle for control of the Anfield club.

Sources close to the bid suggest Liverpool owner David Moores and his board could have rejected this first offer because of a difference in opinion over the price of shares and because Garston-born Morgan favours a groundshare with Everton.