LONDON: Businessman Steve Morgan withdrew his latest £70mil offer for the club on Tuesday.
Morgan, the Premiership side's third largest shareholder, had had two months of discussions with the current board and earlier this month pleaded at Liverpool's annual general meeting for the club to accept his fourth bid.
But lifelong Liverpool fan Morgan became increasingly frustrated by the fact that Anfield chiefs were negotiating with Thailand Prime Minister Thaksin Shinawatra as well as other groups while refusing to accept his offer.
Morgan's lawyer Vincent Fairclough said the multi-millionaire property developer had “lost patience” with the Anfield hierarchy.
Fairclough told the Liverpool Echo: “Steve has finally lost patience with the Liverpool board using his offer as a stopgap while they scour the world looking for a better one.
“He is no longer prepared to be used as as stalking horse.
“Although Mr Morgan's earlier offers were to invest all £70mil directly into the club this was not acceptable to the chairman (David Moores).
“Steve has had enough. He has got other things to do with his life.” – AFP