MAY 11
Thai human rights record splits Liverpool fans

By Quentin Webb - Reuters

Liverpool fans had mixed feelings on Tuesday over the prospect of Thailand's Prime Minister buying a significant stake in their club after Amnesty International questioned the Asian state's human rights record.

A spokesman for Thai leader Thaksin Shinawatra said on Monday he was preparing to invest around 57 million pounds ($100 million) in the premier league club, giving him a stake of up to 30 percent. But property developer Steve Morgan said on Tuesday he would launch a rival bid for the club, offering a 73 million pound ($128 million) cash injection.

Liverpool, who are fighting for England's final Champions League spot having struggled to keep pace with Arsenal, Chelsea and Manchester United in the premier league this season, have so far declined to comment on any possible deal.

Roman Ambramovich's purchase of Chelsea and his subsequent spending spree has opened the door to foreign benefactors wishing to plough money into their favourite clubs.

Amnesty International, however, said they estimated more than 2,200 Thais were killed in the Thaksin-led "war on drugs" which began last year.

"That kind of attitude to criminal justice is completely unacceptable," an Amnesty spokeswoman said.

"It is not for Amnesty to say what the club should do but this is an opportunity for the club's board and fans to learn more about human rights in Thailand and make their decision accordingly," she added.

Outside the club shop in central Liverpool, fans were more interested in whether any injection of cash would be a long term arrangement.

Dave Holland, a sales manager, said he was undecided about the deal because it was unclear how committed Thaksin was to the club.

"Nobody really knows the Thai PM's credentials," he said. "I can't imagine him being there every game."

Holland said current controversy over British treatment of Iraqi prisoners meant human rights worries might seem hypocritical.

"His record does not seem to be that great but I am not sure ours is that good at the moment either."

However, the Liverpool media have taken a more hostile line.

"The Anfield club must be certain of the background of anyone they deal with or the club's famous name around the world could be sullied," the Liverpool Daily Post said in an editorial on Tuesday. "Thaksin's credentials as a Liverpool fan are at best untested and at worst non-existent."

A popular Liverpool fanzine said the club should not have entered into any deal.

"If we had an ounce of humanity, we should have said no immediately," Through the Wind and the Rain editor Steven Kelly wrote.

But insurance broker Justin Blowes said most people he knew were happy with the deal, although it reflected the extent to which financial concerns ruled football.

"Football is more about making a profit now than anything else and Manchester United is more about money," Blowes said. "But if you can't beat them, join them."

MAY 11
Morgan fighting for Liverpool

ITV Football

Liverpool shareholder Steve Morgan has upped his effort to 'keep the club under the control of its true supporters' by tabling a new £73million offer.

Reds chief executive Rick Parry and chairman David Moores are currently in Asia to discuss a possible £65million offer by Thailand Prime Minister Thaksin Shinawatra, who is looking to buy an estimated 30% share in the Anfield outfit.

That would involve Liverpool setting up a football academy in the country and helping with their domestic league, while at the same time pocketing manager Gerard Houllier a reported £30million to spend on new faces.

Thaksin would handle all the merchandising rights for the club, but Morgan is adamant 'true Reds' should control everything about the club.

The building magnate, who had a £50million rights issue offer turned down by Moores earlier this season, is proposing a deal that will net Liverpool £73million of capital.

This includes a £61million rights issue open to all shareholders, and a £12million shares issue aimed at the supporters.

Said Morgan: "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 £73million of new capital to strengthen the playing squad and help finance the proposed new stadium."

"This proposal would keep the club under the control of its true supporters and enable the ordinary fans to participate in the fortunes of the club for the first time.

"In addition, the club's commercial rights to Asia and indeed any other part of the world would remain where they belong - in the ownership of the club.

"This would enable Liverpool alone to benefit from the use of these rights, which is essential to generate future income."

MAY 11
Rivals set for Liverpool fight

BBC Sport Online

Millionaire Liverpool fan Steve Morgan wants to plough £73m into the club - in a bid to prevent Thai Prime Minister Thaksin Shinawatra buying a 30% stake.

Morgan, who had another bid for the club turned down earlier this year, says Thaksin is not a "supporter".

"This proposal will keep ownership of the club with its supporters, where it rightfully belongs," said Morgan.

Morgan plans a rights issue with the aim of raising £61m and a share issue which would generate £12m more.

"This proposal will also inject £73m of new capital to strengthen the playing squad and help finance the proposed new stadium," Morgan added.

Thaksin's bid was on Tuesday said to be nearing completion, but there is uncertainty about whether the £60m he will spend is coming from his own pocket or Thailand's public funds.

"Let's wait until Thailand buys the team before going into details whether we spend Thais' money or the private sector's," Thaksin said.

Government spokesman Jakrapob Penkair revealed that a deal had been done after a Thai cabinet meeting on Tuesday.

"We will buy in the name of Thailand," he said.

"It's almost 100%. Both sides are confident we will make the announcement. As far as we are concerned, we have finished the process.

"The Thai government is the one that negotiated the deal, not Thaksin and most of the money will come from public funds."

This apparently contradicted a statement made over the weekend by Pongsak Ruktapongpisal, deputy minister of commerce, who said: "I want to assure you that the money comes from the prime minister himself not from public funds."

Thaksin was a telecoms tycoon before he moved into politics, and is estimated to be worth $800m (£450m).

He revealed that a company formed with other Thai private investors to pump money into the club would receive commercial rights to use the Liverpool brand and that a football academy would be set up in Thailand.

His spokesman, Chakrapot Penkai, believes the deal will be mutually beneficial.

"Thailand thinks that the Liverpool team can enhance the standard of the sport's development in Thailand a great deal," he told BBC Radio Four's Today programme.

"Why does the prime minister want to invest in Liverpool? Because it is the era of the brand name and with a good quality brand name you can do many things.

"Liverpool's name is a world-class name - people attach their fantasies, their liking for sports, their enhancement in life, their self-development, along with this kind of team."

Reds chairman David Moores and Liverpool chief executive Rick Parry have been in Bangkok working on the deal.

Morgan, a lifelong supporter, made his money in the building industry via his own company Redrow, would underwrite any share issue through his current company Bridgemere Investments Limited.

MAY 11
Thais confirm Liverpool deal

Guardian - Staff and agencies

Thai Prime Minister Thaksin Shinawatra has reached a deal to buy a stake in Liverpool, according to Government spokesman Jakrapob Penkair.

Thaksin met with a group of Liverpool representatives led by chief executive Rick Parry yesterday to discuss his £60m bid to buy a 30% stake in the club.

Jakrapob has reported that agreement has now been reached and a joint statement with Liverpool, who have so far refused to comment on the talks, will be forthcoming.

There remains confusion however over whether the deal represents a personal or Government investment by Thaksin. Jakrapob said today: "We will buy it in the name of Thailand. We want Thai people to be part of the purchase.

"The Thai Government is the one that negotiated the deal, not Thaksin and most of the money will come from public funds."

This would appear to contradict a statement made over the weekend by Thailand's Deputy Minister of Commerce Pongsak Ruktapongpisal.

Prior to yesterday's discussions with Parry, Ruktapongpisal said: "I also want to assure you that the money comes from the Prime Minister himself - not from public funds."

A fanatical follower of English football, Mr Shinawatra attempted to buy part of Fulham last October. While he would not be in a position to bankroll Liverpool as Roman Abramovich has Chelsea, an influx of funds would provide the Merseysiders with significantly more clout in the Premiership transfer market.

He is prepared to hand Liverpool a £30m transfer fund as he seeks to buy into a "world-class brand name", handing the rights to Liverpool's Asian commercial interests and setting up a football academy in Thailand to develop local talent.

Mr Shinawatra's spokesman said: "Why does the prime minister want to invest in Liverpool? Because it is the era of the brand name, with a good quality brand name you can do many things.

"Thailand is an up and coming country, so we need some names to help us come into the global era."

But the link-up has come under attack from human rights group Amnesty International. A spokesman for the group said Mr Shinawatra's government had a poor human rights record over a war on drugs that has seen several thousand suspects killed by law enforcement officers.

Amnesty spokesman Neil Durkin said: "Thailand's human rights record has been a particular concern recently following a government-led 'drugs war' that has seen several thousand drugs suspects killed by law enforcement officers.

"In one three-month period alone last year, a staggering 2,245 people were killed according to official statistics. We have called on the Thai government to allow independent investigations into this worrying wave of killings."

Liverpool have actively been seeking new finance as they look to strengthen manager Gerard Houllier's hand in the transfer market and acquire funding for a new stadium.

The club however rejected an investment proposal from third largest shareholder Steve Morgan, with whom chairman David Moores is known to have his differences, earlier this year.

Littlewoods tycoon Moores has been under pressure from Jersey-based property magnate Morgan, who wants a seat on the board, to act due to the disappointing recent progress of the club under Houllier.

It is thought the the club have now been able to organise a deal with Thaksin that would not involve Moores having to sell any of his current 51% holding.

Sources believe the club can issue 15,000 new shares under company rules changed three years ago, which at £4,000 each could all be bought by Thaksin for £60m. The money, therefore, would go straight into the club's coffers rather than Moores' pocket, as it would if he sold some of his own stake.

Moores would be reduced from majority to major shareholder with around 36% but would still be able to retain control of the club. He would still be able rely on Granada's 9.9% and the current other board members' 5% total to vote with him.

MAY 10
Thai PM says close to buying stake in Liverpool

By Panarat Thepgumpanat and Dominic Whiting

BANGKOK, May 10 (Reuters) - Thailand's billionaire Prime Minister Thaksin Shinawatra says he is on the verge of taking a 30 percent stake in English premier league club Liverpool with an investment of more than $100 million.

Thaksin, a telecoms tycoon before he turned to politics, said after a meeting with Liverpool chief executive Rick Parry he expected the club's board to endorse the deal this week.

"We've talked and that's it," a beaming Thaksin told reporters. "Now it's just up to Liverpool and then we'll be able to make an announcement."

"I've been a fan of Liverpool for quite some time," Thaksin said. The club said it would not comment on media speculation.

"I've made it very clear in the past that we are actively evaluating a range of different proposals and when the club has something to say about it, then we shall discuss it fully," Parry said in a statement on the club's website.

Earlier Thaksin said the deal would be "around 30 percent and the value's more than four billion baht ($100 million). It's not too expensive".

Liverpool chairman David Moores, whose family has controlled the club for more than half a century, hinted in January he might relinquish some of his 51 percent share.

Thaksin said the deal would inject cash into a new stadium.

Liverpool, one of the top five English clubs, want more seating than they have at their 45,000-capacity Anfield ground and even considered a ground-share deal with city rivals Everton.

Thaksin said a company formed with other Thai private investors to pump money into the club would get commercial rights to use the Liverpool brand, and the premier league team would set up a soccer academy in Thailand.

The Liverpool brand would be used to promote goods produced under a Thai government subsidised scheme to inject life into the country's rural economy, Thaksin said.

POPULAR BRAND

The "one village one product" programme, which sells anything from wooden stools to silk cushion covers and spicy cashew nuts made by farming communities, is one of Thaksin's pet projects in a populist agenda that got him elected in 2000. He faces a general election early next year.

"Lots of our products need a brand and Liverpool is one that we can use on the world market," Thaksin said. "It's an established club with a lot of popularity in Asia."

His interest in buying into English soccer began last year, soon after Russian billionaire Roman Abramovich bought premier league club Chelsea, based in London.

The Thai prime minister was linked with Fulham after he met club owner, Mohamed Al Fayed, in London in late 2003 but turned his attention to Liverpool in February.

In March, Liverpool's board turned down a proposal from property developer Steve Morgan to raise his five percent stake in the club via a rights issue. Television company Granada also owns 9.9 percent.

WEALTHY EGOS

The Thai fan club's president, Boonchai Mongkolratankorn, said all Liverpool fans would be happy that marketing merchandise in Asia would help buy new players.

"The Kop is all over the world," Boonchai told Reuters, referring to one end of the Anfield ground. "The prime minister shouldn't have anything to do with management of the club but I think he wants a say in buying and selling players."

On that point, Sathin Nakrani, a fan in Liverpool, agreed.

"Roman Abramovich has shown at Chelsea that if multi rich egos get into football it can become messy. There are reports the Thai guy wants Asian players playing for Liverpool, which is ridiculous," he said.

Thaksin, estimated to be worth $1.4 billion by Forbes magazine, watched the value of his family's holdings soar along with a surging Thai stock market last year. The family controls Thailand's largest telecom group, Shin Corp.

Liverpool were followed avidly in Thailand during the 1970s and 1980s when they won a string of English and European titles. Young fans are now more likely to back Manchester United, whose manager, Alex Ferguson, presented Thaksin with a shirt on his 52nd birthday two years ago.

"I'm not sure if the prime minister is really a Liverpool fan," said Boonchai. "He says he is, but when Man United were here, he said he supported them."

MAY 10
Anfield Thai up £30m for Houllier

By David Maddock - Daily Mirror

Gerard Houllier will be given a £30million fighting fund for next season after Liverpool accepted a major investment in the club yesterday.

The Merseysiders have issued a portion of "reserve" shares to billionaire Thai Prime Minister Thaksin Shinawatra who will also be offered a place on the board for a representative.

The ground-breaking deal is a clever way for Liverpool to raise funds for team-building as they attempt to close the gap on the big Premiership three of Arsenal, Chelsea and Manchester United.

Club owner and chairman David Moores has agreed a deal which will still allow him a majority share-holding, but will also allow the share base to be expanded to feed funds directly into club coffers.

The deal that has been struck will see new shares issued to the Thai businessman, but of a sufficiently low amount to allow Moores to remain in control.

Estimates over the Thai holding range from nine to 30 per cent, and the true figure will be revealed in Bangkok today.

Liverpool's motivation is simple: they have raised funds without changing the structure of the club.

Shinawatra, for his part, gets a place on the board of one of the most popular and well supported clubs in his country, and will also be allowed to develop commercial activities on behalf of Liverpool in the Far East, where they have a massive fan base.

Contrary to reports, the Thai Prime Minister is not buying Liverpool, and though he will have a say in the running of the English club, he will not be in control.

Moores, the Littlewoods pools and retail tycoon, will still have the final say, and is likely to remain as chairman.

But the advantages for both sides are clear. The Thai Prime Minister gets massive popularity in his home country as well as huge business opportunities in the football-mad region.

And Liverpool get a cash injection which will be given to manager Houllier after the French coach all but secured a place in next season's Champions League next season.

Houllier will be allowed to buy big after this new cash injection, but he will be warned that he must spend wisely, as Liverpool look to rejoin the elite group at the top of the Premiership.

MAY 9
Thai PM to reveal Reds plan

BBC Sport Online

Thai Prime Minister Thaksin Shinawatra has said he will disclose details of a possible multi-million pound investment in Liverpool later this week.

A newspaper report claimed that the Thai PM is ready to buy a 30% stake, worth £65m, in the club.

"Next week there will be bigger news, there will be a lot more details and then I will tell you about it," he said.

On Sunday, Liverpool refused to comment on the Thai newspaper report.

But Thailand's Deputy Minister of Commerce, Pongsak Ruktapongpisal, told the Sunday Express newspaper the deal would be signed on Monday.

"We will sign the contracts with Liverpool's representatives," he said.

"I also want to assure you that the money comes from the Prime Minister himself - not from public funds."

He added: "Mr Thaksin is determined to raise the standards of Thai football once the signing is complete."

The deal would involve the establishment of a Liverpool academy in Bangkok and increase the club's commercial opportunities in Asia.

Thaksin, who made his fortune in the telecommunications industry before entering politics, was also linked with a move for Fulham towards the end of last year.

MARCH 24
Reds will play waiting game with investors

By Tommy Smith - Liverpool Echo

Liverpool have never been the sort of club to be rushed into hasty decisions.

Whether on the development, commercial or playing side, they have built up a reputation for sound financial sense.

Any investment in the club will, one assumes, be on their terms.

But, with football clubs now entrenched in the world of big business, it is inevitable clubs like Liverpool will attract would-be investors.

There has been news recently about possible cash injections from a Thai consortium and the announcement from former Redrow tycoon Steve Morgan that he is prepared to invest £50m.

I feel the club will hold fire on making any decisions on financial strategy until the summer. Two factors will be decisive:

How successful they are in the UEFA Cup and, even more importantly, whether they can clinch fourth spot and the millions it will bring from involvement in next season's Champions League.

Irrespective of what happens on the pitch, Liverpool have few financial worries.

The playing side will definitely need to improve but, with the building a new stadium and the hope that players will develop from the top-class academy, the future looks bright.

The Reds could even ride the financial storm without qualifying for the Champions League, but I am sure there will be a sigh of relief around Anfield if they can secure fourth place.

Liverpool's board will wait to see how the final in the season unfolds before making any decisions. Let's face it, there are only about eight weeks to the season's end.

The team's fortunes will certainly have some bearing on their decisions. But, quite rightly, they will weigh up all options before making any moves.

MARCH 24
Now it's war!

By Daily Post North Wales Chief Sports Writer, Mark Currie

Understaded though it may be, Steve Morgan's response to Liverpool's rejection of his £50m rights issue proposal amounts to nothing less than a declaration of war on club chairman David Moores.

And the Littlewoods heir would do well to heed the warning implicit in Morgan's statement yesterday, which said: "This proposal has been turned down by the Liverpool board.

"Mr Morgan now awaits the outcome of the board's strategic and financing review with interest."

Until now, the self-made millionaire has been driven only by his desire to see the Anfield club restored to what he believes is its rightful place at the top of English football's hierarchy.

First and foremost a lifelong fan, a seat on the board is not so much the goal that fuels Morgan's ambition for Liverpool as wresting away from hated rivals Manchester United the global influence exerted by the Old Trafford club.

Morgan recognises, as do others, that times have changed, that chairmen of the old school - people like Bob Lord, Doug Ellis, Ken Bates and Moores himself - are past their sell-by date in an industry increasingly dependent on success.

It's the world in which Morgan was able to build up his fortune rather than have it bequeathed to him, and it's unlikely the property tycoon will take no for an answer.

Forget all the fluffy notions of a rags-to-riches story. Sure, he lived in a bungalow in Rhyl when he set up Redrow in 1974, but he was coming off the construction site and studying at night school at Liverpool Polytechnic for the qualifications he might otherwise have gained at university.

With his brains, drive and determination he would have been a success in whatever career he chose to follow. And his ability to listen, assimilate and learn from everyone and everything around him is a talent few people possess.

He understood then the now accepted premise that knowledge, rather than luck, is the key to being in the right market at the right time.

Listening to him reel off facts and figures, without the benefit of notes, about his own company, about his rivals and about the industry in general, no one could ever have doubted he was an extremely astute businessman completely at ease in a world populated by supposedly better-educated people.

Just as there was no luck involved in his decision to go into house-building shortly before the election of a Conservative government in 1979, he avoided a potentially devastating setback for his company with his decision to sell off extensive tracts of land in the South East immediately before a collapse in property prices brought much of the construction and housing industry to its knees.

He knew his business then and there's no doubt he's well up to speed with this, his latest project.

I've no doubt at all he will know to within the nearest few pounds how best to balance Liverpool's demands for success on the field with those of building the new Stanley Park stadium.

That expertise was there for the taking by Liverpool but now that his offer of support has been rejected by Littlewoods heir Moores, who owns a 51pc controlling interest in the club he possibly regards as his birthright, the gloves will come off.

And what might have been a dignified and smooth shift in the balance of power instead looks set to become a bitter and protracted costly battle that can only damage Liverpool, both on and off the field.

In recent years, Morgan has been a vocal critic of Anfield boardroom policy in his attempts to persuade rather than coerce, but his patience has been stretched to breaking point by the consistent refusal of Moores and his fellowdirectors to brook any outside interference in what has for so long appeared to be a personal fiefdom.

And although Moores, who has been chairman since 1991, stated at the AGM earlier in the year that he would consider a dilution of his control and even take a step away from the club, his rejection of Morgan's offer makes that more likely because there is now little prospect that the two men can ever work together.

Will Morgan walk away though? I think not and that spells more trouble for the current Anfield boardroom, whose every action and public pronouncement will now come under intensive scrutiny.

MARCH 23
£50m Reds bid not a takeover

By John Thompson - Liverpool Echo
e
Former Redrow tycoon Steve Morgan today has said Liverpool have rejected his bid to inject £50m into Anfield in return for chairman David Moores relinquishing control.

A statement on his behalf said: "In response to press speculation during the past 24 hours, Mr Steve Morgan confirmed that he has not launched a takeover for Liverpool Football Club.

"He has however made a formal conditional proposal to underwrite a rights issue, which would result in a very significant injection of new capital into the club.

"The purpose of the proposed rights issue would be to strengthen the playing squad and to assist in the financing of the planned new stadium.

"This proposal has been turned down by the Liverpool board. Mr Morgan now awaits the outcome of the board's strategic and financing review with interest."

Under the proposals Moores would be stopped from buying any of the new shares, bringing an end to his overall control of the club and the effective halt to the Moores dynasty at Anfield.

Today's development comes after Liverpool appointed financial advisors Hawkpoint Partners last Friday to seek potential new investors in the club and scrutinise all interest from outside parties.

It is understood that process is likely to take several weeks before formal recommendations are made to the club and any decisions reached.

However, it is clear from the statement on behalf of Jersey-based Mr Morgan that he feels he has already been rejected with his offer.

Liverpool have not yet had time to comment on the claims. It is understood that the proposal from Mr Morgan is not being considered by the club as a 'formal offer' but rather as an outline declaration of intent.

Mr Morgan is a long term critic of the current Reds regime under Chairman David Moores.

The two men exchanged words at this year's heated annual meeting when Mr Morgan accused the Reds chairman of refusing to talk to him.

The proposal would see the former housebuilding magnate, who is a fanatical Liverpudlian with a personal fortune of well over £300m, underwriting the share rights issue.

Mr Morgan, currently Liverpool's third highest shareholder but not a member of the Anfield board, would undoubteldy increase his current 5% shareholding to the point where he would gain a seat on the board - though not overall control - at Anfield.

Liverpool, led by chief executive Rick Parry, are understood to be in no hurry to respond to any proposals from outsiders, which they wish to consider carefully through their advisors Hawkstone and assess in detail.

Richard Pedder, chairman of the Liverpool Football Club Supporters Club, said last night fans were largely welcoming news of a cash injection into the club.

Mr Pedder said: "I have spoken to many fans since the story broke yesterday.

"The general view is that anyone who will bring £50m into the club is very welcome.

"Every fan will be watching with interest to see what will come of this alleged offer."

MARCH 22
New dawn for Reds?

Echo Comment

The news today that Steve Morgan wants to inject £50m into Liverpool Football Club will come as no surprise to seasoned Anfield observers.

But it does mark what could be a seismic shift in the history of the club.

Morgan's bid to increase his share at LFC would automatically mean a decrease in the relative size of the shareholding of David Moores.

Ultimately, it might also lead to his resignation as chairman and the waning of the historic influence on the club which the Moores family has long enjoyed.

It is clear that Mr Morgan is a serious contender - with serious money to boot. It is equally clear that his opportunity would not have come along had Liverpool been matching the expections of fans on the pitch and investors off it.

But is his bid a force for the good? Some will fear a protracted and damaging power struggle, where events in the boardroom overshadow those on the pitch. Others, having witnessed years of underachievement, will say change is due.

What is unarguable is that the football landscape is changing. The corporate might of Manchester United, the sudden wealth of Chelsea and the globalisation of the sport have seen to that.

Clubs like Liverpool struggle to keep pace, not just with the most powerful English clubs but with those against whom they must compete in Europe.

In such a context, any injection of new investment must be embraced.

The important caveat is that it should be embraced only if the investor's credibility is beyond question and if he - or she - is a genuine fan with the best interests of the club at heart.

However, there will always come a time when change is the only way to make real progress.

Now it looks as if that time has come.

MARCH 22
Liverpool share issue may let in tycoon

Ananova

Liverpool are considering a share issue which will allow building millionaire Steve Morgan an influential voice in the future of the club.

Jersey-based Morgan was in talks over a possible £50million investment, and a spokesman for the 51 year-old said: "He hopes to make a statement within the next 24 hours."

Morgan is Liverpool's third largest shareholder with 5 per cent, behind chairman David Moores (51 per cent) and Granada (9.9 per cent).

Garston-born Morgan, who has a £312m fortune from building and hotel interests and is the founder of house builder Redrow, believes a share issue is the only way for him to take a greater stake in the club and for Moores not to have to sell his stake.

Sources close to the board insist Morgan has not made a formal bid to buy any of Moores' controlling interest, but wants a seat on the board in return for his cash going into the club coffers.

A source said: "It is not a takeover bid, Steve wants to put his money into the club, not the chairman's pocket, by buying shares. To do that a share issue seems the only way."

A share issue would allow Morgan to increase his stake in the club massively, maybe to as much as 15 per cent.

There is the prospect of Granada's shares coming onto the market in the future, with the TV company policy now seemingly set to pull out of football. Morgan could bid for that stake, but it is not believed this is the current deal being negotiated.

There are 42,000 shares available, at a cost of £4,000 each, and they rarely come onto the market. Liverpool are not a PLC and Moores controls the club with his stake.

Morgan's buy-in would reduce Moores' percentage but would still leave him as the majority shareholder.

Morgan has wanted a seat on the board for some time, and if he is prepared to invest £50m, it is hard to see how Moores could, or would be willing, to block that.

The money would be used to part-finance the new Stanley Park stadium and also player buys.

It would also mean Liverpool would not have to borrow so much money to finance their move from Anfield to nearby Stanley Park, for which they are still awaiting planning permission.

Morgan was hugely critical of the financial package to fund the new stadium when he openly attacked Moores and the board at the January annual general meeting.

It was at that meeting that Moores finally agreed to discuss a partnership with Morgan.

Thor Zakariassen ©