Speculation in a national newspaper suggests that Morgan will usurp chairman David Moores next week
Ex-Redrow boss Steve Morgan is poised to take over Liverpool Football Club in a £75million deal, according to the Daily Mail.
Morgan was spotted at Liverpool’s team hotel in Graz before last night’s successful Champions League qualifier. The paper says that Morgan's offer could be accepted at a board meeting next week, but a new share issue will need to be voted through by shareholders at an emergency general meeting.
If the takeover goes ahead Liverpool will be given the funds to expand the squad and go ahead with a new stadium.
The club rejected a takeover bid by Morgan in May this year, when he proposed to raise new capital through a share issue. Liverpool chairman David Moores turned down Morgan's offer arguing that it undervalued the club. Moores also turned down a £50m investment proposal from Morgan in March.
Steve Morgan now has a better chance of success as a rival offer from Thailand prime minister Thaksin Shinawatra is in trouble. The media tycoon is having difficulty raising £60m after a proposal to generate funds through the national lottery was met with opposition at home.
