ONE OF LIVERPOOL’S biggest and best-known supporters’ lobby groups has taken the first step towards launching a supporters’ takeover bid of the club.

The ‘Spirit of Shankly’ group has announced it is setting up a credit union allowing fans to lodge cash for a potential investment in the club, in an attempt to make it easier for fans to ultimately save up a significant enough stake to take over a meaningful stake.

The Guardian reports that the Liverpool Supporters’ Credit Union, set up with support from the Partners Credit Union in Merseyside, was launched at the weekend and discussed in detail at the group’s EGM last night.

Though UK law only currently allows British people to save in the trust, it is reported that legislation to be introduced by the UK government next year would allow international savers to participate in the scheme.

Sit-in

The development comes just a few days after team boss Roy Hodgson said supporters’ protests against the current ownership regime of American pair Tom Hicks and George Gillett were not helping the team’s cause, with Liverpool enjoying a sluggish start to their Premier League campaign.

Despite the appeal, over 9,000 fans staged a sit-in protest after Saturday’s 2-2 draw to complain about the club’s ownership, while other fans have proceeded with plans to hold ‘Turn Anfield Black‘ protests by wearing black club strips when attending.

The American owners, who took over the club in February 2007, have fallen out with each other in recent times and fans are unhappy about the reported £236m debt the owners have saddled upon the club.

The owners have until October 15 to refinance this debt, or else the club’s major credit, Royal Bank of Scotland, is understood to be intent on repossessing the club with the intention of a quick sale.

The chances of a fans’ takeover are higher in that instance, however, with the club’s price likely to plummet after the bank takes control.