Lim makes second bid for Liverpool

Liverpool's complicated ownership issues took another twist on Tuesday when Singapore businessman Peter Lim lodged an increased offer for the club.

The billionaire, whose original bid was overlooked in favour of the £300milion offer from New England Sports Ventures (NESV), has returned with an improved £320million offer, which includes a further £40million to be spent on players.

Lim claims his offer is entirely in cash from his personal wealth, paying off the £200million acquisition debt, the club's existing debt and outstanding bank fees and providing much-needed funds for squad strengthening in January.

"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," said Lim.

"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 £40million in cash into the club for Roy Hodgson to bring in new players during the upcoming transfer window. Liverpool needs to start winning again."

Lim added in his statement: "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."