Liverpool’s two main supporters’ groups, Spirit of Shankly and
ShareLiverpoolFC, have unveiled a revised proposal to buy out the
club.
In plans initially put forward in January last year, the
supporters’ groups had hoped to raise UK£500 million from 100,000
fans each paying the UK£5,000 ‘entry fee’, emulating an ownership
model used by the likes of Real Madrid, Barcelona and Bayern
Munich. That figure has proved too steep, however, and has now been
reduced to a much more realistic UK£500 per member. Obviously the
UK£500 million target is now out of reach. The new plan, therefore,
has several fundamental structural differences.
The aim is to acquire a 60 per cent stake in the club by raising
UK£150 million while seeking a “commercial partner” to invest
UK£100 million for a 40 per cent stake.
The supporters’ groups will then be able to make an immediate
down payment of UK£250 million on the club’s UK£350 million debt.
The UK£100 million balance would then be exchanged for convertible
loan stock in the club. ShareLiverpoolFC would have rights to
acquire that stock from the banks in equal annual instalments over
a 20 year term. Acquisition and conversion of the loan stock would
eventually raise the supporters’ equity interest in the club to 71
per cent.
A statement from ShareLiverpoolFC 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.”
The current owners have been under pressure for some time now.
Gillett has agreed to sell the Montreal Canadiens ice hockey
franchise for more than US$500 million. Hicks, meanwhile, has
dissolved Hicks Sports Marketing Group as he looks to sell off one
of his sport franchises.