Morgan set for Liverpool briefing

Millionaire building magnate Steve Morgan will this morning further outline his plans to turn Liverpool back into a major footballing force.

With the club’s chief executive in Bangkok attempting to close a deal which would see Thailand Prime Minister Thaksin Shinawatra buy a 30% share in the club for £60m (€88m), Jersey-based Morgan has slapped in a second bid of his own which he claims will bring the club £73m (€108m) of capital.

This has prompted Shinawatra to admit he now has only a 50-50 chance of securing an involvement in the Reds, while also stating he has other clubs in mind if the proposed link-up does fall through.

In a direct attack on the current board who are negotiating a deal which would involve merchandising rights being handled by Shinawatra, Morgan demands the club should retain those rights for Liverpool only.

The former boss of the Redrow housing group and Liverpool’s third largest shareholder, has challenged the club to sell to a genuine fan “and the people who love the club most.”

And he has called a press conference for early this morning to expand on his proposals.

It is a direct challenge to chairman David Moores not to become involved with Thaksin, who has had his human rights record openly criticised by opponents of his move to buy into the Anfield giants.

Morgan, who worked his way up from being a bricklayer to owning one of the UK’s biggest house-building giants, has already had one rights issue deal rejected this year by Moores and his board for around £50m (€74m).

Now he has dramatically upped his offer as chief executive Rick Parry returns to Liverpool with proposals from the Thai PM to be considered by a board meeting later this week.

Morgan said: “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.

“This proposal will not only keep ownership of the club with its supporters, where it rightfully belongs, it will also inject £73m (€108m) of new capital to strengthen the playing squad and help finance the proposed new stadium.”

His proposal comprises a rights issue, open to all shareholders, which would generate approximately £61m (€90m) of new money.

This would be backed by a new shares issue – directed at supporters of the club – which would raise a further £12m (€17m). Both would be underwritten by Morgan’s company Bridgemere Investments Ltd.