Liverpool FC Forum

by **Roger Red Hat** » Thu May 20, 2004 10:20 am

Saw this on koptalk:

It looks very much as if Steve Morgan's attempts to buy a larger stake in Liverpool Football Club have come to a premature end. There now seems little else that Morgan can do.

At Anfield on Saturday Morgan was totally ignored by every board member. While he was being congratulated by fans outside the ground, inside the Director's box Morgan cut a lone figure. Neither Rick Parry nor David Moores bothered to speak to him, and nor did any other directors.

As if that was not bad enough Morgan tells me that he has not heard a word from Liverpool. He's seen what's on the web site but again nobody has bothered talking to him. You would think that a man who is prepared to pour millions into the club might at least be given some official answer. But no, not even a letter, a phone call or an e-mail. Total silence. And that is no way for Liverpool to treat a man who is the second largest individual shareholder in the club.

Absolutely disgusting.
Parry & Moore we called for you resignation!

by **jprw** » Thu May 20, 2004 10:22 am

Yes, not very classy

by **Boocity** » Thu May 20, 2004 10:53 am

From what I understand he was going to underwrite a new rights issue. Moores and others would have been putting the money in. I cannot understand why Morgan did not just top the Thai offer for a 30% stake???

by **Woollyback** » Thu May 20, 2004 10:56 am

There's probably a whole lot more to the proposed deal than we'd ever get to hear about in terms of the mechanics of how the finance package would actually work but that doesn't get away from the fact that Moores clearly doesn't like Morgan on a personal level and I strongly suspect that he has let that colour his judgement of Morgan's proposal. Basically Morgan never stood a chance right from the start.

by **Paul C** » Thu May 20, 2004 11:02 am

I really don't want this thai deal to go ahead, I smell a rat!!

by **Boocity** » Thu May 20, 2004 11:17 am

I agree but we do need the investment if we are to challenge next year. Please don't anyone come back with the blood money arguements or the human rights issues, these things concern me as well, I wish we could just keep the f*****g politics out of football:angry:

by **ckay** » Thu May 20, 2004 11:18 am

Boocity wrote:From what I understand he was going to underwrite a new rights issue. Moores and others would have been putting the money in. I cannot understand why Morgan did not just top the Thai offer for a 30% stake???

Nah mate, the deal was 30% at 65million and then under right a rights issue at a further 10million so Moores could strenthen his share holding. Problem is that Moores doesn't have that sort of cash so in theory Morgan could of snapped up a further 10million of shares which would have given him the 33% required for a takeover. Just the way I see it. May be total bo**ock but there you go.

by **woof woof !** » Thu May 20, 2004 11:24 am

Boocity wrote:I agree but we do need the investment if we are to challenge next year. Please don't anyone come back with the blood money arguements or the human rights issues, these things concern me as well, I wish we could just keep the f*****g politics out of football:angry:

You sound like the white South Africans back in the '70's during the apartheid era.
You say "these things concern you"
Obviously not that much . Personally I'd have more respect if you just said "I don't give a toss , I just want to talk footy "

by **Boocity** » Thu May 20, 2004 11:30 am

Okay so I do'nt give a toss, I was just being politically correct. (an am not south african either)

by **JBG** » Thu May 20, 2004 1:05 pm

In some ways Morgan is now reaping what he sowed over the years as his severe criticism and hostility towards Moores dates back years.

I distinctly remember Morgan tearing strips out of Moores in the late 1990s as the Roy Evans era fell apart.

Morgan's plan was to undoubtedly set himself up for a take over bid sometime in the future and there was no way Moores was going to allow that.

I certainly support Morgan over the Thai bid, but I honestly don't know enough about the man to be 100% sure whether he is the right guy to control Liverpool and I saw a few newspapers describe him as a potential Peter Risdale, which we certainly don't want!

However, Morgan does talk a lot of sense in that he wants to make the club more competitive financially, but I'm not sure how savvy he would be in transfer policy.

by **zarababe** » Thu May 20, 2004 1:34 pm

Yes it makes sense to rubbish the current management, have a go at the current board and then put your bid in to buy a stake in the club

That wil definately sway the decision of the current incumbants??? not!

If Morgan had as much tact as |'m sure he does when doing he's day job... the bid may have gone ahead, despite the history.

Lets not also forget Liverpool FC is a globally supported club, whose roots have spread across the world, and the far east has some of the most fanatical supporters. You don't have to be a scouser to be a Red....but you all know that already? don't you![B]

by **zarababe** » Thu May 20, 2004 1:35 pm

Yes it makes sense to rubbish the current management, have a go at the current board and then put your bid in to buy a stake in the club

That wil definately sway the decision of the current incumbants??? not!

If Morgan had as much tact as |'m sure he does when doing he's day job... the bid may have gone ahead, despite the history.

Lets not also forget Liverpool FC is a globally supported club, whose roots have spread across the world, and the far east has some of the most fanatical supporters. You don't have to be a scouser to be a Red....but you all know that already? don't you![B]

by **SantaGiveHoullierTheSack** » Thu May 20, 2004 3:06 pm

First of all, I would prefer an investment from a football fan (Morgan) over one from a businessman (Thaksin) anyday.

the deal was 30% at 65million and then under right a rights issue at a further 10million so Moores could strenthen his share holding. Problem is that Moores doesn't have that sort of cash so in theory Morgan could of snapped up a further 10million of shares which would have given him the 33% required for a takeover.

It is unlikely Morgan will be able to snap up the remaining 10M shares as I believe it will be well subscribed by the supporters.
However, the main sticky point is that under Morgan's present proposal, if Moores do not further invest into the club, he could see his shareholding dropped from present 51% to about 23% and Morgan could then be the major shareholder and handover the chairmanship to Morgan, something Moores will not concede to...simply because he put his self interest above the club's!
The fact that Moores do not currently have the financials to invest into the club will also make Morgan's proposal unacceptable to him. It's a Moores v Morgan showdown really.
Also under Morgan's proposal, the remainding shareholders will also see their shareholding diluted unless they each make fresh investment.

Morgan's plan was to undoubtedly set himself up for a take over bid sometime in the future and there was no way Moores was going to allow that.

Not in the future. If his present proposal is accepted, and Moores is unable to cough up with £30m of his own money, Morgan will be the major shareholders and take control of the club.

All in all, Morgan's proposal is a clever one (for himself) and put Moores in a tight spot to accept the Thai's investment (however unpalettable it may be) if he wants to remain a major shareholder. If he turned both the proposal down and are unable to inject the same kind of cash into the club, he will face the wrath of the supporters.

How legitimate is the Thai investment...? I don't like it simply because it is being coined by someone who do not have Liverpool in his heart and is politically motivated. His human right record should not be blown out of proportion as I do not believe it is as bad as some will like it to be seen (I have friends and relatives living in Thailand to testify on this)

by **stmichael** » Thu May 20, 2004 3:09 pm

everyone wants morgan on board but the fact of the matter is he was seriously undervaluing the club.

by **SantaGiveHoullierTheSack** » Thu May 20, 2004 3:27 pm

stmichael, sorry if I am not 100% clear on this...pls enlighten me how he "seriously undervaluing the club" ?

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