This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7217238.stm
The article has changed 18 times. There is an RSS feed of changes available.
| Version 10 | Version 11 |
|---|---|
| Fans make Liverpool takeover move | Fans make Liverpool takeover move |
| (19 minutes later) | |
| Liverpool supporters are to launch an ambitious plan to buy the football club from its current American owners. | Liverpool supporters are to launch an ambitious plan to buy the football club from its current American owners. |
| US tycoons George Gillett and Tom Hicks recently finalised a £350m refinancing of the club which they bought in 2007. | US tycoons George Gillett and Tom Hicks recently finalised a £350m refinancing of the club which they bought in 2007. |
| But the Share Liverpool FC Group is to reveal plans for a buy-out of the club by 100,000 Reds fans around the world. | But the Share Liverpool FC Group is to reveal plans for a buy-out of the club by 100,000 Reds fans around the world. |
| The model proposed will be a Barcelona style "member-share" scheme aimed at raising £500m to purchase the club from its US owners and build a new stadium. | The model proposed will be a Barcelona style "member-share" scheme aimed at raising £500m to purchase the club from its US owners and build a new stadium. |
| 606: DEBATE Can the fans succeed in their bid to take over the club? | 606: DEBATE Can the fans succeed in their bid to take over the club? |
| As well as UK-based fans, a website with the address www.shareliverpoolfc.co.uk, will be launched to attract interest from Liverpool's supporter base around the world. | |
| Culture, media and sport secretary Andy Burnham, a fan of city rivals Everton, called the proposal "a fascinating development". | Culture, media and sport secretary Andy Burnham, a fan of city rivals Everton, called the proposal "a fascinating development". |
| He told the BBC that it would "be really important to see how it works". | He told the BBC that it would "be really important to see how it works". |
| Club refinancing | Club refinancing |
| The person behind the move is football business lecturer and Liverpool fan Rogan Taylor. | The person behind the move is football business lecturer and Liverpool fan Rogan Taylor. |
| Advice has been offered by fan-trust body Supporters Direct, and lawyer Kevin Jaquiss - an expert in launching co-operatives. | |
| "The time is right to offer a different solution to the rising concerns that football fans have about the patterns of ownership developing at our major football clubs," said Taylor, who is director of the Football Industry Group at the University of Liverpool. | "The time is right to offer a different solution to the rising concerns that football fans have about the patterns of ownership developing at our major football clubs," said Taylor, who is director of the Football Industry Group at the University of Liverpool. |
| He said the "time is right" for such an initiative in the UK. | He said the "time is right" for such an initiative in the UK. |
| Full details of how the fans' group hopes to buy the club will be revealed later on Thursday, although the initial figures seem to suggest an investment per supporter of £5,000 each. | Full details of how the fans' group hopes to buy the club will be revealed later on Thursday, although the initial figures seem to suggest an investment per supporter of £5,000 each. |
| Thousands of Liverpool fans have already demonstrated their dissatisfaction with the current state of affairs Rogan Taylor, Share Liverpool FC Group | Thousands of Liverpool fans have already demonstrated their dissatisfaction with the current state of affairs Rogan Taylor, Share Liverpool FC Group |
| Many Liverpool supporters have been unhappy at the recent uncertainty surrounding the refinancing of the club. | Many Liverpool supporters have been unhappy at the recent uncertainty surrounding the refinancing of the club. |
| After much delay, and reports that either one or both of the owners was willing to sell a stake to Dubai's DIC, a refinancing deal was signed last week with the Royal Bank of Scotland and US bank Wachovia. | After much delay, and reports that either one or both of the owners was willing to sell a stake to Dubai's DIC, a refinancing deal was signed last week with the Royal Bank of Scotland and US bank Wachovia. |
| Hicks confirmed to the BBC last week that of the £350m refinancing package, £105m of that will be debt tied to the club. | Hicks confirmed to the BBC last week that of the £350m refinancing package, £105m of that will be debt tied to the club. |
| Of that total, £45m will be used for future player transfers and to meet the club's working capital needs, and the remaining £60m is thought to be free for start-up money for a new Liverpool stadium. | Of that total, £45m will be used for future player transfers and to meet the club's working capital needs, and the remaining £60m is thought to be free for start-up money for a new Liverpool stadium. |
| However, some supporters are unhappy about debt being placed on to the club, and there is also a perception that the owners' support for manager Rafa Benitez has not been as strong as it might. | However, some supporters are unhappy about debt being placed on to the club, and there is also a perception that the owners' support for manager Rafa Benitez has not been as strong as it might. |
| Debt burden | Debt burden |
| "Thousands of Liverpool fans have already demonstrated their dissatisfaction with the current state of affairs," said Taylor. | "Thousands of Liverpool fans have already demonstrated their dissatisfaction with the current state of affairs," said Taylor. |
| "Large amounts of debt often devolves onto clubs newly purchased, but the fans know that in the end, it will be they themselves who will have to pay it off through increased ticket prices and other schemes. | "Large amounts of debt often devolves onto clubs newly purchased, but the fans know that in the end, it will be they themselves who will have to pay it off through increased ticket prices and other schemes. |
| All looked rosy when the US duo took over in early 2007 | All looked rosy when the US duo took over in early 2007 |
| "In such a case, why not simply buy the club yourselves?" | "In such a case, why not simply buy the club yourselves?" |
| He said that many fans were unaware that there were other ways of financing and taking ownership of big clubs. | He said that many fans were unaware that there were other ways of financing and taking ownership of big clubs. |
| Taylor said that in Germany and Spain most top-level football clubs were not for sale as they were owned by many thousands of "member fans". | Taylor said that in Germany and Spain most top-level football clubs were not for sale as they were owned by many thousands of "member fans". |
| "The Champions League has been won on six occasions in the last 15 years by clubs owned and run in such a way," he said. | "The Champions League has been won on six occasions in the last 15 years by clubs owned and run in such a way," he said. |
| Barcelona, which won the Champions League in 2006, is owned by its fan-members, of which there are more than 100,000. | Barcelona, which won the Champions League in 2006, is owned by its fan-members, of which there are more than 100,000. |
| Stadium plan | Stadium plan |
| Earlier this month a survey carried out by the Liverpool Supporters' network showed that 76% of 2,000 fans questioned said they would "seriously consider reducing their financial commitment to the club" if the current owners stayed in charge. | Earlier this month a survey carried out by the Liverpool Supporters' network showed that 76% of 2,000 fans questioned said they would "seriously consider reducing their financial commitment to the club" if the current owners stayed in charge. |
| When asked to choose between the owners and the manager as to who had the best interest of the club at heart, 99% backed Benitez. | When asked to choose between the owners and the manager as to who had the best interest of the club at heart, 99% backed Benitez. |
| However, Hicks and Gillett have insisted that they are fully behind Benitez. | However, Hicks and Gillett have insisted that they are fully behind Benitez. |
| They also say the club plans to build the 71,000-seat venue close to Anfield in Stanley Park in time for the 2011-12 season. | They also say the club plans to build the 71,000-seat venue close to Anfield in Stanley Park in time for the 2011-12 season. |
| Are you a Liverpool fan? Will you join the bid to buy the club? You can send us your experiences using the form below: | Are you a Liverpool fan? Will you join the bid to buy the club? You can send us your experiences using the form below: |