Liverpool fan Steve Morgan says he his offer to invest in the club turned down by the Anfield board.
Morgan had an offer to invest £73m into Liverpool rejected by the board earlier this month. But he subsequently pffered a revised investment, which has also been turned down.
“This revised offer has also been turned down by both the chairman and the Liverpool board,” a statement from his representatives claimed.
Morgan now says he is “reluctantly withdrawing” the new bid.
Morgan’s withdrawal leaves the way clear for Thai prime minister Thaksin Shinawatra to negotiate his own, £60m offer for 30% of the club.
“I would like to thank the many thousands of fans who backed the bid and my family who have been totally supportive,” Morgan added.
“I remain totally committed to Liverpool Football Club and would implore the board to bring all of the uncertainty surrounding both the club and the manager to a rapid conclusion.”