With the deal to sell 30% of Liverpool to a Thai consortium, headed by the Prime Minister Thaksin Shinawatra, seemingly signed, sealed and delivered, local businessman and life-long Red Steve Morgan has come charging over the horizon on his trusty steed.
At noon today he handed in a new proposal to Liverpool offering to invest £61m in the club by underwriting a share issue. This is an improvement on his previous offer of £50m. He has also proposed a further £12m investment through a new set of shares issued to the "rank and file supporters" priced at £175 each. This new bid will therefore effectively become a £73m investment in the club.
Earlier in the season a poll ran on RAWK and on YNWA.TV suggested very strong fan interest in investing in the club via a share issue.
38% were prepared to invest £1000 or more immediately.
20% were prepared to invest £1000 in installments over one year.
35% would like to invest but felt they couldn't afford a £1000 investment.
7% expressed no interest in investing.
If the £175 per share figure proves correct, some of the 35% of fans who feel they couldn't invest £1000 may be brought on board.
These figures, if replicated across the broad fanbase, will make interesting reading to Rick Parry on his arrival back in the UK from the Far East.
Some may call Steve Morgan's proposal a populist move, but others will counter by saying the fans of Liverpool have been calling for improved representation for many years and would prefer a local investor. Caution would be advised though, as Morgan has in the past said he'd be amenable to a ground share with Everton, which would be extremely unpopular among the fans.
For further information on the Thai deal, read the excellent
ILSA Guide to the Thai Investment.
© RAWK 2004
