who do you hope takes over Liverpool

cruiserweight

Who do you hope takes over Liverpool. I would have to say Morgan, although it will lead to initial turmoil, he has been one of Houlliers biggest critics and also is very critical of some of the players. In the long run it may be better than other options ie Thaksin Shinawatra, the deal seems quite dodgy, especially the issue of where the mony is coming from.

(I realise it is not a complete take over bid but these people will have a major say in how the club is run)

watman

I dont like the Thai Deal . I think Morgan's Counter Bid should get the nod. He is not Houlliers Biggest Fan but neither am i. I know it will cause some internal conflict but i still think it would be better for the club than the Thai Deal

watman

Have a Look at this . I now dont want this guy anywhere near Liverpool

cruiserweight

That is almost as bad as his human rights record

Kone

and man is that bad!

mike65

The Thai deal looks messier by the minute. Steve Morgan
is, a) closer to home, b) real fan, c) offering more money and d) wants Houllier out. He wins!

Mike.

p.pete

Originally posted by mike65
The Thai deal looks messier by the minute. Steve Morgan
is, a) closer to home, b) real fan, c) offering more money and d) wants Houllier out. He wins!

Mike.

From a fans point of view yes.

From a board members point of view the further away and more silent the investor the better. The less of a fan they are then the less of an interference they will provide. As for GH - I think he has some very good friends on the board which would be another reason for them to be against Morgan.

It's a bit annoying really - Morgan could be quite good for the club...

Thanx 4 The Fish

Would like to see the liverpudlian get there alright but if it was a choice between more upheaval or just having GH let go quietly, then I would prefer the latter.

Dont be at yourself

Morgan was being very diplomatic and didn't commit either-way to Houllier's future should he invest in the club. To me, that suggests Houllier would be given a stay of execution.

StickyMcGinty

i hope morgan takes over, these asian lads are only in it for the money where as morgan has proven interest, with him already having a 5% stake.

woosaysdan

Originally posted by Thanx 4 The Fish
Would like to see the liverpudlian get there alright but if it was a choice between more upheaval or just having GH let go quietly, then I would prefer the latter.

yeah but did you see dream team and what happened there? no seriously Morgan seems really interested in the club but would he ruin the club?

Big Ears

The Thai Pri Minister is supposedly doing the deal in the name of Thailand ( basically means the countrys paying for it not him )

PiE

I thought he released a statement last week explicitly stating the deal would not be paid from public funds... that it was coming from his own pocket?

However, I still think it's quite dodgy that a prime minister of a country would be so flagrantly rich.

Johnny_the_fox

Morgan bid to be turned down...

Liverpool fc
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.
The Board of Liverpool Football Club has today met with its financial advisors, Hawkpoint Partners, to consider these proposals.

The Board notes that the Bridgemere Proposal, at £1,750 per share, implies a current value of £61 million for the entire Club, which is a substantial discount to the value placed on the Club by the Board. The Board has therefore concluded that the Bridgemere Proposal as currently constituted is not attractive. It intends to discuss its response to both these Proposals with the respective parties.

A further announcement will be made in due course.

StickyMcGinty

Originally posted by Johnny_the_fox
Morgan bid to be turned down...

yea johnny just heard that meself.... very goood reason why too!

jonno

Well Morgan was undermining the price of the shares and hoping to get a bargain I'd say. It was mentioned somewhere today that Liverpool have just short of 35,000 issued shares, and David Moores owns 51.46% of those. At £1750 per share (which Morgan offered), that values the club at £61,940,250. This would make Moore's investment worth £31.3 Million.

The Thai dude is supposed to have offered £60 million for 30% of the issued shares, suggesting that 100% of the shares are worth £200 million, or £5,743.33 per share. With this investment Moore's investment worth £102.9 Million.

I doubt Morgan deliberately implied a value of £61 million for the entire club, as the official LFC statement suggests. Taking into account the brand name revenues from shirts etc, Anfield, revenues from the Premiership position, TV rights, and CL income, and the resale value of the entire squad, £200 million seems to be closer to the true value, and that is not taking into account that the resale value of Michael Owen and Stevie Gerrard together must be close to £60 - £70 million.

I'd say, by the sounds of this statement that it is aimed towards Morgan than anyone else i.e come back with a bigger offer.

pickarooney

Originally posted by PiE

However, I still think it's quite dodgy that a prime minister of a country would be so flagrantly rich.

Aye, you wouldn't get that in places like Italy, now.

PiE

Everyone knows Berlusconi's a dodgy git.

The Rooster

Morgan is not saying that the club is worth 61m. The club is worth whatever it is worth, commonly agreed at 140m.

What Morgan is saying is that under his proposal, effecitvely 50% of the club is available to be purchased for £61m - it doesnt follow that the other 50% (i..e the current 100%) is worth 61m. What does follow is that the new 100% would be worth 201m (140+61).

If Moores owns 51%, then his shareholding is currently worth 71.4m.
If Morgans's proposal went ahead he would contribute 61m x 51% = 31.1m
Subsequent to the rights issue Moore's holding would be worth 201m x 51% = 102.5m, which is exactly 71.4+31.1. He'd be in the exact same position and there'd be no question of his shares being undervalued.

Morgan has said that where a shareholder does not want to contribute any more, he will make up the shortfall. If the proposal was implemented, every share would be worth £2,875. So Morgan would have a chance to get shares on the cheap.

But if you own one share now worth 4,000 and contribute 1750, you'll then have 2 shares worth 2,875x2 = 5,750 - exactly what you've contributed. But if you don't contribute your share will only be worth 2,875 - you'll effectively have lost 1125 by not contributing. But it would be your own choice not to contribute!

redspider

The two offers are different in structure. The Thai deal seems to be straight forward. Originally ukp 60m for 30% was offered, which I read somewhere has since been increased to 65m. This was to be executed via a New Issue which would mean that current shareholders would have their share of the company/club reduced (ie: diluted). Eg: Moores share would go from 51% to 36%. This deal would seem to have the backing of Moores who holds 51% and for any major deal like this, 75% of shareholders must agree. Overall, this deal values the company/club at 200m (60m) or 217m (65m).

The Morgan offer is a 1:1 Rights Issue valued at 61m and a New Issue valued at 12m to be sold to external investors (fans). The Rights Issue gives all current shareholders the right to participate on an equal basis, so in this scenario Moores is expected to stump up 31m. Morgan made a lot out of the fact that this 61m was underwritten, which would seem to indicate that if any current shareholder needed a loan they would get it as the collateral is there. However, it doesn’t look as if Moores has the spare money or wants to take out a loan. The value after such a Rights Issue would also be approx 140m + 61m = 201m approx. Then there is the New Issue of 12m to fans. It has not been revealed what percentage of the club would be given up. Lets presume that the amount is just added, so the total value is 213m and hence the fans 12m would be approx. 5.6%.

There is little difference in the total value of the club if one deal is at 217m and another is at 213m, but the types of the deals are completely different. Moores and Morgan have a history and are not seeing eye to eye. Moores is in control of the club with 51%. Morgan is a small shareholder at 5%, but does have some money to invest or wants to. However, he doesn’t seem to have enough to outbid the 60m or 65m from the Thai’s, otherwise he would just go ahead and do it. In a way Morgan is using the fans to help him with his bid. I would have some reservations about this as it would have been better to let the fans get some of the ownership of the club in normal circumstances as in a share sale but not in a bidding war.

The press release from LFC rejecting the Morgan bid was economic with the truth it would seem, saying: “the Bridgemere Proposal implies a current value of £61 million for the entire Club”. That is not the case with a Rights Issue in a company/club that has a small number of shareholders.

> Morgan has said that where a shareholder does not want to contribute any more, he will make up the shortfall

This is where the problem lies. Morgan is aware that Moores does not have 31m to spare that he can invest in Liverpool so he is playing a gambit. If Moores doesn’t take up the Rights Issue, then Morgan effectively gets cheap shares. This type of approach cannot succeed as Moores is obviously going to be against and he IS Liverpool at the moment.

I think this should run for a while. I’m not happy with the Thai deal so I hope its not rushed through quickly. It’s a tricky situation for the club and a headache we could have done without.

In relation to this, does anyone know the approx. share ownership structure of the club in years gone by?

Caesar_Bojangle

Apparently if Morgan’s bid is successful, he is going to do his best to force out Houllier and replace him with the legend that is Kenny Dalglish.

Does anyone know how much the new Liverpool jersey costs in the shop? Also how much extra is it for a name and number to be applied to it? I'll buy it online if there is very little difference between the online and Irish sports store prices?