Morgan: I could’ve cut Reds debt

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.”