[lfc-news] US bid for stake in Liverpool abandoned - Post

Liverpool Daily Post, 24 Jan 2005
US bid for stake in Liverpool abandoned
By Kirsti Adair, Daily Post

THE L4 consortium, headed by the US-based billionaire Kraft family, has
abandoned its attempt to buy a stake in Liverpool Football Club.

Interest was withdrawn after the group claimed chairman David Moores was
asking too high a price for a minority stake in the club.

An executive close to the family said: "David Moores wanted a price
that, for a minority stake in the club, was unrealistic."

They believe Moores was looking for more than £50m from L4, a deal which
would have valued Liverpool at close to £200m.

L4 is fronted by Hollywood executives Stuart Ford and Woolton-born Mike
Jefferies.

Last month, Liverpool revealed a mystery investor had made a
multi-million pound bid to buy into the club.

But the identity of that investor has yet to be revealed.

At the club's AGM, Mr Parry said: "A number of new parties have
expressed interest in investing including a new one only recently which
we believe warrants consideration."

There had previously been speculation about a possible deal with the
Kraft family, who together with Mr Ford and Mr Jefferies, were thought
to be behind an attempt to gain control of the club.

But this was denied by Liverpool chief executive Rick Parry.

Speaking at Dubai's Soccerex football business forum in November, Mr
Jefferies also refuted the claims, but said he still wanted to play a
role in the club's future development.

He said: "I wasn't trying to take over at Liverpool, I was trying to get
together a consortium, and still am, to turn the club around. One of the
most depressing things for me was going to meet Liverpool, where I think
the amount of income being generated is somewhat lacking." L4's decision
not to go ahead with its bid is the latest saga in the long drawn-out
attempt to find investment by the Liverpool board.

Moores rejected four cash offers made to the club by building magnate
Steve Morgan who pleaded with the Anfield board to accept his £70m
investment plan.

Last year, a bid from Thai businessman Paiboon Damrongchaitham was also
rejected.

The club is thought to be desperate to attract new investment to help
finance its new multimillion pound Stanley Park stadium plan.

Liverpool FC were unavailable to comment last night.


------------------------ Yahoo! Groups Sponsor --------------------~-->
Give the gift of life to a sick child.
Support St. Jude Children's Research Hospital's 'Thanks & Giving.'
http://us.click.yahoo.com/5iY7fA/6WnJAA/Y3ZIAA/2_TolB/TM
--------------------------------------------------------------------~->

Unsubscribe: lfc-news-unsubscribe@yahoogroups.com
http://www.lfc-list.org.uk/
Yahoo! Groups Links

<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/lfc-news/

<*> To unsubscribe from this group, send an email to:
lfc-news-unsubscribe@yahoogroups.com

<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/