Morgan bid 'unattractive' to reds

Liverpool have dismissed Steve Morgan’s proposal to invest £73m (€109m) in the club as “unattractive”.

The club tonight revealed that the property magnet’s valuation of the Anfield outfit did not represent that of the board’s.

Rival bidder Thaksin Shinawara, the Prime Minister of Thailand, would now appear to hold the upper hand.

After a lengthy meeting of the Anfield directors, chaired by David Moores, to discuss the bids, they released a statement through www.liverpoolfc.tv.

It read: “Liverpool Football Club confirms that it has received two indicative proposals for investment in the club, the Thai Investment Proposal and the Bridgemere Proposal backed by Mr Steve Morgan.

“The board of Liverpool Football Club have today met with their financial advisors, Hawkpoint Partners, to consider these proposals.

“The board note that the Bridgemere Proposal, at £1.750 per share, implies a current value of £61m (€91m) for the entire club, which is a substantial discount to the value placed on the club by the board.

“The board have therefore concluded that the Bridgemere Proposal as currently constituted is not attractive.

“They intend to discuss their response to both these proposals with the respective parties.

“A further announcement will be made in due course.”