More details of Lim's offer for Liverpool

Last updated : 12 October 2010 By Adam Bryant

The Sporting Intelligence website has reported the following details of Lim's revised bid for Liverpool Football Club:

The proposal represents a total investment of £360m. The offer values the Club at £320m. A further £40m will be made available to purchase new players.

Like the previous offer tabled by Mr Lim, the new offer is entirely in cash and will remove the entire acquisition debt of £200m taken on by the existing owners that has cast uncertainty over the Club's future.

The new offer also includes a cash investment of £120m. Of this:

£40m cash is to be allotted specifically to fund player purchases during the upcoming transfer window as the immediate priority is to ensure that the squad is strengthened for the remainder of the season.

The balance of £80m will pay off all the Club's bank debt, the fees and interest accruing on the bank debt, and provide additional working capital for the Club.

Lim added: “I respect and admire Liverpool Football Club, which is steeped in tradition and history. I am committed to rebuild the Club so that it can soon regain its position at the pinnacle of English and European football, where it truly belongs. This is why I have stepped forward with this offer.

“I believe that if its massive debt burden can be removed, the Club  would be able to focus on improving its performance on the pitch. My offer pays off the existing owners’ bank acquisition debt and also frees the Club of its own bank debt. If the Board accepts this offer, the monies are available immediately thereby removing the threat of administration.

“The Club needs to strengthen its existing squad. As part of this offer, I will be injecting £40m in cash into the Club for Roy Hodgson to bring in new players during the upcoming transfer window. Liverpool needs to start winning again!

“My offer provides a firm financial platform from which the club can rebuild. Given the manner in which the sale process has been handled, I feel Martin and the Board owe it to me, to the Club, and to the supporters, to consider my offer”.

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