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Liverpool Fans Launch Takeover Initiative

The unrest at Liverpool continues. While the backroom has made peace, the club's fans are so desperate to replace owners Tom Hicks and George Gillett that they've started a fundraising scheme to oust the Americans. Described as a "longshot" member-share scheme by the Associated Press, the group, called Share Liverpool FC, will today begin collecting funds for the $1 billion takeover.

The shareholder model is similar to the one adopted in Spain by the likes of FC Barcelona, Real Madrid and Athletic Bilbao. Share Liverpool is appealing to 100,000 fans to each contribute up to $10,000 in order to raise the necessary funds. The project is headed by soccer academic Rogan Taylor, who views it as an important step toward righting the Liverpool ship, "which has been plunged into uncertainty this season."

Rafael Benitez's Reds lost yet again Wednesday night, 1-0, on a last-minute penalty from West Ham midfielder Mark Noble. Liverpool is now seventh in the Premier League, 17 points behind league leader Manchester United and three points out of the fourth and final Champions League slot.

Read the whole story at Associated Press »

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