Fans revise Liverpool buy-out bid
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Fans revise Liverpool buy-out bid
Supporters groups Spirit of Shankly and ShareLiverpoolFC have unveiled a new, joint proposal to buy Liverpool.
The supporters' organisations are unhappy with the financial structure of the club following the takeover by Americans George Gillett and Tom Hicks.
The key change to the original "member-share" proposal is a reduction of the share price from £5,000 to £500.
Gillett and Hicks were expected to complete a refinancing of the club's £350m debt on Thursday.
A statement from the SLFC board said: "This is a realistic plan that squares the circle: How to get broadly based fan ownership of the club, and relieve the level of debt, by offering Liverpool fans an affordable entry fee and a chance to get a modest return for their additional financial support.
"Now we need all those Liverpool fans to carefully consider the proposals in detail on our website - and let us know what they think."
The supporters' groups first proposed a takeover - the model of which is based upon that operated by Barcelona, Real Madrid and other European clubs - in January 2008.
Initially they hoped to raise £500m from 100,000 fans each paying the £5000 'entry fee', but this has now been reduced.
The aim is to acquire a 60% stake in the club by raising £150m while seeking a "commercial partner" to invest £100m for a 40% stake.
In June 2009, it was announced the parent company of the club, owned by Tom Hicks and George Gillett, lost £42.6m in the year to August 2008, largely as a result of interest payments that had to be made to service the debt taken on by Kop Football Holdings when it purchased the club in February 2007.
On Tuesday, the BBC learnt that the club were close to renegotiating its debt with the Royal Bank of Scotland - one of the two banks to which it owes money.
bbc