Fans make revised proposal to buy Reds

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The fans' organisations are unhappy with the financial structuring of Liverpool and are behind a proposal for supporters to take ownership of the club in a similar scheme to those operated by Barcelona, Real Madrid and other European clubs.

The key change to the group's original proposal is the reduction of the share price from £5,000 to £500. Initially they hoped to raise £500million from 100,000 fans each paying the £5,000 'entry fee'.

The aim is to acquire a 60% stake in the club by raising £150million while seeking a "commercial partner" to invest £100million for a 40% stake.

A detailed summary of the proposal can be viewed at www.shareliverpoolfc.com.

A statement from the SLFC board 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.

"Now we need all those Liverpool fans to carefully consider the proposals in detail on our website - and let us know what they think."