Morgan: I could’ve cut Reds debt

Steve Morgan claims Liverpool would be debt-free if they accepted

his investment offer before George Gillett and Tom Hicks took


Wolves owner Morgan abandoned his bid for Liverpool in 2004

after “indecision” from the board, with Gillett and Hicks taking

control three years later but having their reign heavily criticised

by supporters for the debt taken on by the Anfield club.

“I was going to put at the time up to £70million

investment into the club,” Morgan told Bloomberg. “It would have

been cash into the club. It would have pretty much reduced the debt

and got the debt down to nil.”

Liverpool’s debt has been estimated at £237million and

chief executive Christian Purslow has been working on securing

outside investment.

The club have to pay interest on their debt, but Morgan

added: “If I’d have been there, there wouldn’t have been that

interest bill.”

Morgan has bought Wolves since and is optimistic about the

future after promotion to the Premier League.

“Our plan this year and hopefully next is to establish

ourselves in the Premier League and to build,” he said. “But again,

it’s a step at a time. This year is about trying to establish

ourselves and then to take the club forward.”