DECEMBER 21
Parry: Morgan was no 'stalking horse'

Kop Talk

Liverpool chief executive Rick Parry says the club did not use Steve Morgan as a 'stalking horse' to try and find a better investment deal.

Morgan has now pulled out of the running to buy into the club with his brief Vincent Fairclough today saying: "He is no longer prepared to be used as a stalking horse."

Liverpool are now left to choose between the Thais (GMM Grammy chief Paiboon Damrongchaitham) or the L4 Group (Dalglish, Ford, Jefferies, Kraft Soccer etc). There have also been suggestions that another unknown bidder may be lurking.

Speaking today, Mr Parry said: "We've received a potentially exciting expression of interest which may or may not lead to a firm proposal. We feel duty bound to explore this fully. We made it clear this interest came late in the day.

"While no-one wants this to drag on we feel we have to consider all options in a considered way. But while there are other options, it's up to us to explore them."

Meanwhile, the media are yet to catch on that Liverpool legend Kenny Dalglish is involved with L4 which is quite odd because if they do strike a deal with the club, this would mean that Dalglish would be set for an emotional return to Anfield, although not as manager or any other kind of position that would undermine Rafael Benitez.

Stalking horse

1. means to disguise an objective: something used as a means of disguising a real objective

2. politics deceptive candidate for election: a candidate who is in an election only to conceal the potential candidacy of somebody else, to divide the opposition, or to determine how strong the opposition is

DECEMBER 21
Morgan withdraws Liverpool offer

BBC Sport Online

Tycoon Steve Morgan has abandoned his £70m bid to take control of Liverpool.

His lawyer said in a statement: "Steve has lost patience with the board using his offer as a stopgap while they look for a better one."

The businessman has been trying to invest in the club for several years and made his first official bid in May.

Morgan claims he has been discussing his latest offer with the club for two months but withdrew it after growing tired of their "indecision".

The closest Morgan came to seizing control of Liverpool came in August when a deal was agreed in principle.

It fell through after Morgan carried out business checks on Liverpool's finances which revealed the cost of their proposed new stadium had risen from £80m to £115m.

He consequently told the club's directors: "Please tell the truth about the figures for the stadium. You must come clean about what the costs really are.

"If this room knew half the things from the investigation I undertook they would be appalled, and understand why I revised my offer."

But at the club's AGM at the beginning of December, current chairman David Moores said it "may be time" to accept Morgan's proposal.

At the same meeting, club directors hinted that other offers were being considered and Morgan responded by setting the club a seven-day deadline to make a decision on his bid.

Liverpool failed to respond and on Tuesday, Morgan decided to withdraw his offer.

"Steve is no longer prepared to be used as as stalking horse," said his lawyer.

"He loves the club and desperately wants to take it forward, but he simply can't wait around forever.

"He has other things to do with his life.

"He just hopes for the sake of the fans and the shareholders that the directors urgently secure a deal and get on with it, as it is clear that the club badly needs investment."

DECEMBER 3
Morgan waits for Liverpool prize

By Phil McNulty - BBC Sport Online

Building tycoon Steve Morgan's long and painful battle to buy control at Liverpool turned personal at a turbulent annual general meeting.

Morgan, with a fourth offer of £70m on the table, is still being defied by an Anfield board he has criticised.

The lifelong Liverpool fan made a personal fortune estimated to be in excess of £300m as the founder of the Redrow Homes empire.

But he has not been able to get his hands on the prize he covets most.

The meeting descended into angry scenes after Morgan's wife Didy unexpectedly took the microphone.

She claimed chairman David Moores and the club's directors would prefer to do a deal with "the devil himself" rather than her husband.

And the feeling is growing in the Morgan camp that Liverpool will have explored every possible avenue before they accept his money.

Morgan is a self-made millionaire who built Redrow into a company that made him one of the north-west's most successful entrepeneurs.

He started the company with a £5,000 loan from his father and Redrow was floated on the Stock Market in 2000.

Morgan quit the company in 2000, but he remains their biggest shareholder.

He has invested in property in the United States, North Wales and Jersey and has between £300m and £400m worth of developments in progress.

Along with Welsh partners he has developed Festival Parks, Majorca's biggest entertainment complex, which attracts 3m visitors a year.

He had a £68m stake in De Vere, owners of the Belfry Golf Club and Brighton's world famous Grand Hotel.

They bought his 192-bedroom Carden Park Hotel near Chester and St David's Hotel in North Wales in 1992.

This has all strengthened Morgan's hand as he embarked on a concerted campaign to buy into Liverpool.

Morgan has long been a harsh critic of Liverpool's boardroom regime.

But one thing is clear from the second successive annual meeting at Liverpool that has been dominated by Morgan's attempt to mount a takeover bid.

And is that the man now favoured by many supporters to take Liverpool forward is not going away.

This is despite Liverpool holding talks with the Thai government, rumours of an American consortium, and a mystery fourth bidder.

Morgan has his heart set on Liverpool and is determined to get his way.

Morgan has long been linked with major investment in Liverpool.

Chairman Moores hinted at 2003's AGM that it was time to "bury the hatchet" with his long-time critic.

But after no progress and moves from the Thai government, Morgan went on the attack in May as he looked to be losing his battle.

He staged an early morning news conference to go public, delivering his bid in a red van with an LIV FC number plate, a tug on the Kop's heartstrings.

Morgan may have left Anfield frustrated again on Thursday, but one tell-tale sign may give him renewed hope.

And it is that finally Moores, an outstanding chairman and benefactor in the past, hinted he may be finally tiring of the in-fighting.

He said: "I love the club but I cannot compete with Mr Morgan's millions."

Moores is a notoriously private man who steers well clear of any spotlight, and he will hate the circus currently surrounding the club's future.

Morgan, in contrast, has the wealth and the time to devote to Liverpool and may finally see the winning post in sight.

DECEMBER 3
Mystery new bid to buy into LFC

By Andy Hunter And Alan Weston - Daily Post Staff

A mystery foreign investor has made a new multi-million pound bid to buy into Liverpool football club, it was revealed last night.

Chief Executive Rick Parry made the announcement during the club's annual general meeting, at which businessman Steve Morgan pleaded with the Anfield board to accept his own latest £70m investment plan.

Mr Parry would not divulge the details of the new proposal, but dismissed reports which had emerged earlier yesterday claiming that American consortium L4 were planning a £100m takeover.

It had been reported that the Kraft family, owners of Superbowl champions the New England Patriots, together with two US-based entertainment executives with Liverpool roots, were behind an attempt to negotiate control of the club.

But Mr Parry dismissed this claim, before revealing that a new foreign bidder had emerged with an "exciting" offer.

Mr Parry told the meeting: "A number of new parties have expressed interest in investing, including a new one only recently.

"There is a proposal on the table but the simple truth is we have had another approach and the board believes it warrants consideration. It might be a better offer than what is on the table."

Mr Parry added: "We do not want to break off dialogue with Steve (Morgan) but we feel duty bound to consider the approach because it could lead to a very attractive solution.

"As soon as we have an appropriate offer we will put it before the shareholders."

The club is thought to be desperate to attract new investment to help finance its new Stanley Park stadium plan, but the board resisted repeated calls from shareholders to confirm how much it was now expected to cost.

Mr Parry said: "The key issue is the affordability of the stadium, and matching costs with income.

"We are confident we will raise the funding."

DECEMBER 2
Moores threatens to quit Anfield following Morgan attack

Kop Talk

Liverpool FC chairman David Moores has again threatened to resign from his position as chairman of the club following another heated AGM at Anfield where he came under intense criticism from failed bidder Steve Morgan and even Morgan's wife.

The AGM has just concluded after a dramatic evening in which Mr Moores looked to be at the end of his tether. He was heavily criticised over the pay-offs to Gerard Houllier, his backroom staff and former players but it didn't really kick off until Steve Morgan's wife of all people, took to the floor.

She demanded to know why the club would not accept her husband's bid.

She ranted: "Why is it that the Liverpool board would seem to be prepared to do a deal with the devil himself rather than my husband?"

Morgan himself shouted to Rafael Benitez: "I'm here. My offer is on the table. You can have the money in the bank by Christmas. Rafa can have the money for new players in January. Please accept my offer."

The board fought back and said the figures touted by Morgan were not true and didn't add up. Some shareholders supported Morgan's desires but others accused him of trying to get hold of the club on the cheap for his own personal gain of wanting to become chairman.

Moores stressed though that it wasn't anything personal and that Morgan's offer was treated the same as anyone elses. Moores sighed and sounded really depressed during the evening. He insisted he had nothing against Steve Morgan personally and that he had to consider other options that were out there for the best interests of the club. He said he couldn't compete with Morgan's millions but that at the end of the meeting he would try to do what was best for the club.

Moores said he'd hardly slept and that it's been unbearable for him. He said things had even affected his family. Our chairman was close to desperation, his words were nothing but sincere. He said he's always tried to do what was best for Liverpool Football Club.

The board were unable to comment a lot about possible investment. There was however talk of a new bid with rumours suggesting that it had come from the Far East but there was no concrete news. All the board would say was that they would consider the latest offer and review things as quickly as they could.

The local media in Liverpool had expected Morgan to keep his head down but Insider sources at Anfield had told us that Morgan was planning to disrupt things again.

Meanwhile the L4 Group were acting a little more tactfully even though they had supporters at this evening's AGM. They have been keeping themselves out of the public eye but were forced this evening to make a statement about their approach to the club's advisors Hawkpoint which read:

"The L4 Group ("L4"), a consortium being formed by Mike Jefferies and Stuart Ford with additional backing from other parties, notes the recent press speculation concerning it and Liverpool Football Club ("Liverpool FC"). L4 confirms that it has, through its adviser Seymour Pierce Limited, approached Hawkpoint, the financial adviser to Liverpool FC, concerning a possible investment in or offer
for Liverpool FC. These discussions are at an early stage and may or may not lead to an offer being made for Liverpool FC."

DECEMBER 2
Reds now in talks with US bidder

ITV Football

Liverpool are reported to be in talks with the 'L4' group, a consortium put together by two US-based entertainment executives, which could lead to a takeover.

The consortium is thought to have the backing of the Kraft family, owners of Superbowl champions New England Patriots and the New England Revolution soccer franchise, currently coached by formerly Liverpool player Steve Nicol.

Mike Jefferies, one of the men behind L4, told the Financial Times: "We are working with Keith Harris of Seymour Pierce.

"He is conducting discussions with Liverpool through Hawkpoint. I can confirm L4 exists with the purpose being to conduct ongoing discussions with the owners of Liverpool football club.

"There are a number of different constituent elements, both individuals and entities, that we believe have a direct connection with the culture and heritage of the club, as well as the experience, resource and appetite to get the club back to where we believe it deserves to be."

Chairman David Moores currently has a 51% control of the club but local businessman Steve Morgan and a Thai consortium have been linked with possible takeovers in the past year.

The rising cost of the club's proposed new 61,000-capacity stadium in Stanley Park is likely to dominate their annual general meeting, which is being held on Thursday night.

DECEMBER 1
Moores faces AGM grilling

Sporting Life

Liverpool shareholders are set to show their support to boss Rafael Benitez at the club's annual general meeting - but chairman David Moores faces further scrutiny.

Last year's AGM deteriorated into a heated argument between Moores and Steve Morgan, the club's third largest shareholder, who launched a fierce attack on Moores' control of the club and his refusal to seriously discuss Morgan's desire to be a director and have a larger stake at Anfield.

Morgan has since made four bids, to either buy out Moores or instigate a share issue, and is currently still in negotiations having gone through the period of due diligence over his most recent bid which allowed him to see the club's books.

Morgan is unlikely to attack Moores in public again and is not allowed legally to disclose the financial information he has seen.

But shareholders are preparing to quiz Moores on the spiralling cost of the proposed new stadium in Stanley Park. The club are also subject to a groundsharing proposal with Everton, but few at Thursday's meeting are in favour.

Other issues include failure to secure outside investment, and the cost of the financial settlement with former boss Gerard Houllier and his coaching staff. The Frenchman is reputed to have picked up a £4million pay-off.

Moores offered to quit the club at last year's meeting if results did not improve - but similar rowdy scenes are not expected.

Benitez is due to give his first manager's report and can expect an enthusiastic welcome, particularly following last Sunday's Barclays Premiership triumph over Arsenal.

One influential shareholder told PA Sport: "Last year there were many people at the meeting who wanted an end to Houllier's management, and that is what we have now got.

"Nobody will want to offend the new manager by him having to witness the angry scenes of last year.

"In fact, he will probably get a standing ovation, there is tremendous support for him and the way he has been prepared to take over at Liverpool and give up Valencia after winning two championships there.

"There is also plenty of sympathy for the position he finds himself in regarding the amount of injuries. In fact, shareholders will want to make a good impression on him.

"But the increasing cost of the stadium will be something that shareholders will want to discuss as well as why Steve Morgan has still not been able to get on to the board and inject his promised capital into the club."

Most shareholders consider the groundshare suggestion, discussed by Liverpool and Everton officials with Sports Minister Richard Caborn on Wednesday, as a dead issue.

But the fact the projected cost of the new Anfield - for which planning permission has been granted - has risen from £80million to £110million, is concerning shareholders.

It was this massive difference in cost that has put Morgan's latest bid to buy Moores' shares on hold. The two have failed to agree on a reduced price from Morgan when he discovered how much of a problem the cost of the new stadium was becoming.

Moves to find investment from various bids from Thailand over the months seem to have ended, which leaves Morgan as the only viable alternative in the eyes of many shareholders.

The club have already announced a record debt of £21.9million, which they explain is due to the £10million paid to Houllier and his departed colleagues and the loss of £14million by failing to qualify for the Champions League last season.

NOVEMBER 29
Film producer still eyes Liverpool

By Bill Wilson - BBC News business reporter in Dubai

Hollywood-based film producer Mike Jefferies has said he still hopes to play a role in the future development of Liverpool FC, despite having a move to inject money rejected in the summer.

"I wasn't trying to take over at Liverpool, I was trying to get together a consortium, and still am, to turn the club around," he said, speaking at the Soccerex football business forum in Dubai.

"I still think things need to change at Liverpool, where their market capitalisation is one-fifth of Manchester United's," he added.

Mr Jefferies, who made his cash in Los Angeles in the late 1990s through business-to-business internet services, says he is a long-time supporter of the Anfield club.

"One of the most depressing things for me was going to meet Liverpool, where I think the amount of income being generated is somewhat lacking. I think things might need to change."

"I want to see Liverpool competing at the highest possible level, on and off the pitch, at the level of the Manchester Uniteds, Real Madrids, Arsenals and Chelseas.

"There is a need to recapitalise Liverpool - restructure it."

With his US background Mr Jefferies is also keen to see clubs such as Liverpool exploiting the US market.

"One of the major growth areas for clubs has to be the US. It is extremely fertile ground for football."

He added: "Business is the key word when talking about football. But it has to be accompanied by business accountability and business acumen."

And, echoing points made in the day by Newcastle chairman Freddy Shepherd, he said he did not know if the current English league set-ups would continue in their present forms.

"I think there is an oversupply of the product. There are 92 clubs in a market that is shrinking, when you see the Champions League taking away market share."

Mr Jefferies now owns Milkshake films and is producing the football film Goal!

NOVEMBER 24
Thais still keen on Liverpool

By Tony McDonough - Daily Post

A bid by a Thai businessman to buy a stake in Liverpool Football Club is still very much alive, he told a news conference.

However, it is likely to be less than the 30% stake originally suggested and dependent upon gaining merchandising rights.

Speaking in Thailand, Paiboon Damrongchaitham, chairman of entertainment group GMM Grammy, said he was seeking a merchandising agreement with the club's sponsors Reebok.

At present the sportswear group has the sole rights to produce Liverpool FC products in Asia. Mr Damrongchaitham first came forward with his £60m bid for a stake in June.

He flew into London to meet Liverpool chief executive Rick Parry and a representative of chairman David Moores and said the bid would be financed out of his own personal fortune along with other investors.

This week, Mr Damrongchaitham said he had submitted a proposal to Reebok last Friday about obtaining merchandising rights for Liverpool FC products in Asia.

He added he expected to reach an agreement with the company in around six weeks but declined to give further details.

GMM Grammy is a multi-million pound entertainment group which is seeing rapid growth in revenues in its core businesses which include the management of several Thai entertainment stars and the collection music copyright fees from radio stations.

In August Merseyside born property tycoon Steve Morgan saw his bid to make a £70m investment in the club collapse.

Liverpool FC last night declined to comment and no one was available at Reebok.

OCTOBER 15
Morgan weighing up third offer

By Andy Hunter - Daily Post

Building magnate Steve Morgan remains confident of delivering a £100million investment plan that will be acceptable to Liverpool.

Anfield officials have distanced themselves from reports that a rights issue underwritten by the former Redrow owner is imminent.

But the lifelong Liverpool fan is continuing to sound out what it will take for chairman David Moores to agree to a third bid that will grant Morgan a seat on the Anfield board.

Liverpool recently appointed financial advisors Hawkpoint to flush out new investors, with two Thai consortia and a Hollywood mogul all claiming to be interested so far.

But Morgan is the popular choice among fans and other directors and despite having two investment proposals rejected, the latter in excess of £70m, he is hopeful a £100m package will finally persuade Moores to diminish his 51.6% majority shareholding.

Morgan's latest offer would release funds for the new stadium and, unlike his original bid, would include an offer to buy stock from existing shareholders so as not to devalue their investment.

OCTOBER 11
Morgan linked with new bid

ITV Football

Steve Morgan is reported to be on the verge of a fresh attempt to invest in Liverpool.

The lifelong Reds fan is thought to have improved the terms of his offer to underwrite a share rights issue, as well as offering to buy from existing shareholders.

Should such a deal materialise, it would reduce the controlling stake of the Moores family, which presently stands at 51%.

That would allow David Moores to stand down as chairman, paving the way for Morgan to take over.

Morgan's plans to inject substantial funds into the club earlier this year were also shelved after concerns over the escalating costs of the new stadium proposal.

The former Redrow boss is reportedly ready to pump £100m into Liverpool, but not all that money is scheduled to be used to buy shares with a proportion set aside to help the building project.

Thor Zakariassen ©