Thailand Prime Minister Thaksin Shiniwatra is confident his bid to invest in Liverpool will succeed after a rival offer from building tycoon Steve Morgan’s £73m rival offer was rejected.
Liverpool directors described Morgan’s plan as “unattractive” after a board meeting on Thursday.
“Liverpool Football Club confirms that it has received two indicative proposals for investment in the club, the Thai Investment Proposal and the Bridgemere Proposal backed by Mr Steve Morgan,” read a club statement.
“The board of Liverpool Football Club have today met with their financial advisors, Hawkpoint Partners, to consider these proposals.
“The board note that the Bridgemere Proposal, at £1.750 per share, implies a current value of £61m for the entire club, which is a substantial discount to the value placed on the club by the board.
“The board have therefore concluded that the Bridgemere Proposal as currently constituted is not attractive.
“They intend to discuss their response to both these proposals with the respective parties.
“A further announcement will be made in due course.”
Thaksin said on Friday: “It is now 51-49 in our favour. We are in a good, better-than-even position.
“Our proposals involve not only buying shares and would benefit the club.”
The Anfield directors claimed Morgan’s offer did not represent the true value of the club. But a spokesperson for Morgan responded: “The board’s response doesn’t seem to make sense.
“Mr Morgan’s proposal is to underwrite the investment of £73m into LFC, not to buy the club.”
“Under his proposal, the investment would be open to all shareholders, including the board.
“In addition, the ordinary supporters would, for the first time, be able to buy a share in the club.
“Mr Morgan’s offer merely underwrites the proposal, thereby guaranteeing that £73m will be made available to the club.
“What matters to Liverpool Football Club is how much money they have available, as soon as possible, to strengthen their squad and fund the stadium.”
