Liverpool FC Forum

by **Stan Laurel** » Sun Mar 21, 2004 10:53 pm

Magnate makes Liverpool bid.

Moores was criticised by Morgan at Liverpool's AGM.

A formal takeover bid been launched for Liverpool, BBC Radio Merseyside understands.

The offer has been made by Building Magnate Steve Morgan, a vociferous critic of chairman David Moores, Liverpool's majority shareholder.

Multi-Millionaire Morgan's bid of between 40m and 50m could give him a controlling in Liverpool.

Liverpool, who have refused to comment on the offer, have appointed Hawkpoint Partners to look at all the options.

With a 5% stake in Liverpool, Morgan is Liverpool 3rd biggest Shareholder - Moores has a 51% majority stake, while Granada owns 10%.

In January, Moores had to withstand a substained verbal assault at the club's annual general meeting from Morgan, who does not hold a position on the board.

Then Morgan, who has an estimated fortune of more than 300m quids, said "The Chairman has refused to talk to me."

"Money is available fromme and others, but the Chairman will not dilute his holding."

Moores responded by saying "It is time to bury the hatchet, if you (Morgan) want a meeting, we will sit down and talk it over."

"This is no good for this club, we must bury the hatchet, if it means diluting myshares or even selling to another Roman Abramovich, I will have to do it."

Last week, Prime Minister of Thailand Thaksin Shinawatra confirmed he does not want to buy Liverpool.

What do you think of this, lads?

by **seananddarragh23** » Sun Mar 21, 2004 11:02 pm

My feeling is that reguardless of success or failure its still our club.
MAN.U ARE GOOSED. They don't own it .THE PRICE THEY HAVE TO PAY IS DOWN THE ROAD.
MR.MORGAN is ared which is cool but so is MR MOORES.
If everyone puts the team first and forgets abouts the kudos ,we could be the buisness again.

by **Scottbot** » Mon Mar 22, 2004 12:05 pm

Great news if Morgan is serious although i am not so sure that Moores will budge so easily. No more Moores = No more Parry = No more Houllier. Be interesteing to see if anything develops.

by **BOODIDDY** » Mon Mar 22, 2004 1:13 pm

Morgan will at least change the club and be ruthless he will also make us a better business in terms of marketing, revenue and the stadium.

by **stmichael** » Mon Mar 22, 2004 2:13 pm

Stan Laurel wrote:Magnate makes Liverpool bid.

Moores was criticised by Morgan at Liverpool's AGM.

A formal takeover bid been launched for Liverpool, BBC Radio Merseyside understands.

The offer has been made by Building Magnate Steve Morgan, a vociferous critic of chairman David Moores, Liverpool's majority shareholder.

Multi-Millionaire Morgan's bid of between 40m and 50m could give him a controlling in Liverpool.

Liverpool, who have refused to comment on the offer, have appointed Hawkpoint Partners to look at all the options.

With a 5% stake in Liverpool, Morgan is Liverpool 3rd biggest Shareholder - Moores has a 51% majority stake, while Granada owns 10%.

In January, Moores had to withstand a substained verbal assault at the club's annual general meeting from Morgan, who does not hold a position on the board.

Then Morgan, who has an estimated fortune of more than 300m quids, said "The Chairman has refused to talk to me."

"Money is available fromme and others, but the Chairman will not dilute his holding."

Moores responded by saying "It is time to bury the hatchet, if you (Morgan) want a meeting, we will sit down and talk it over."

"This is no good for this club, we must bury the hatchet, if it means diluting myshares or even selling to another Roman Abramovich, I will have to do it."

Last week, Prime Minister of Thailand Thaksin Shinawatra confirmed he does not want to buy Liverpool.

What do you think of this, lads?

yeah i hope it happens.

by **JohnBull** » Mon Mar 22, 2004 2:38 pm

Sir John Moores worked bloody hard for his money and although David seems a nice guy I don't think he's ever been hungry in his life. It is too easy for him to spend the majority of his time in sunny Spain and leave the running of his hobby to self seeking ba#ta#ds who worry about their own finances before The Club's.
At least Morgan made his own wealth and I'm sure he would not be one to waste it.
Those who earned it appreciate it !

by **stmichael** » Mon Mar 22, 2004 2:41 pm

amen to that!

by **JBG** » Mon Mar 22, 2004 10:04 pm

Morgan apparently wants a 15% share and a seat on the board.

Word has it Moores won't let go any of his 51% shareholding, so the shares Morgan wants will have to come from someone like Granada.

I don't know Morgan only from what was reported about him in the papers in the last 6 months, but it could be a good move for the club.

by **supersub** » Mon Mar 22, 2004 10:09 pm

Steve Morgan doesn't want to buy David Moores' shares because that would be money going into the pockets of the Moores family.Morgan actually wants a new share issue of an extra 10,000 shares and in doing so the club itself would receive the £50 million.This way the monies can be used for team rebuilding etc. and not for personal gain of any one share holder.

by **Red** » Tue Mar 23, 2004 1:57 am

He wants LFC to issue more shares? As I understand it, that can only be done if the club actually holds some equity in itself, you can’t produce shares out of thin air devaluing other shares for no gain.

eg If the club initially sold 70% of its equity, holding 30%.

Seems unlikely if someone owns 51%, one 10% and one 5%, unless that is a representation of the equity that was sold off, I dont know how it works in the UK.

Sorry to bore you with this, I just wanted to point out that issuing more shares may not be an option.

Liverpool FC Forum

Steve morgan makes formal takeover bid "shock"!

Who is online