Redrow founder Steve Morgan is in talks to invest £50m in Liverpool Football Club in a move that would see him take a significant stake in the club.
The building and hotel millionaire is Liverpool’s third largest shareholder with 5%, behind chairman David Moores (51%) and Granada (9.9%).
Sources have said that the bid is not a takeover attempt.
Instead Morgan, who stepped down as chairman of Redrow in 2000, believes that a share issue is the only way for him to take a greater stake in the club and put money into it without Moores having to sell his stake.
It would see Morgan increase his stake to as much as 15%.
The money would be used to part-finance the club’s planned move from Anfield to a 60,000-seater stadium at nearby Stanley Park.
The club is still awaiting planning permission for the stadium move.
References: EGi News 22/03/04
