Steve Morgan (businessman)
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Steve Morgan OBE (born 25 November 1952 in Liverpool) is an English businessman.
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[edit] Business career
Steve Morgan founded the construction company and house builder Redrow in 1974 and ran it until 2000 when it was floated on the London Stock Exchange. In the 1990s, he invested in hotels, eventually merging his interests into De Vere Hotel Group. In the process Morgan made a fortune of several hundred million pounds from his business activities and is a regular on the Sunday Times Rich List where in 2008 he ranked 199th with an estimated fortune of £430m.
Morgan's main business is now the Bridgemere Group of Companies, a property development and investment company based in Jersey. Its main focuses of activity are the regeneration of industrial sites in England and partnership funding for developments in Eastern Europe. It has also undertaken residential and commercial developments in the UK, Jersey, the United States and Continental Europe.
In 1992, he was awarded the OBE for his services to the construction industry.
[edit] Liverpool Football Club
Morgan is a lifelong Liverpool Football Club fan, and became the third largest shareholder in the club with a 5% stake. In 2003 and 2004, when the club was looking for new investment to help it build the proposed Stanley Park Stadium, Morgan made a number of well publicised proposals to inject tens of millions of pounds into the club, the last of them being a proposed injection of £73 million, but he was unable to agree terms with chairman David Moores. The two men have a history of animosity and have clashed at Liverpool's annual general meetings. In 2007, Moores sold the club to the American businessmen Tom Hicks and George Gillett.
[edit] Wolverhampton Wanderers
On 21 May 2007, Morgan agreed to buy Wolverhampton Wanderers from Sir Jack Hayward for a nominal fee of £10 after he promised to invest £30 million in the Midlands club. [1] The takeover was formally completed on 9 August 2007 when Morgan became chairman of the club.
[edit] Morgan Foundation
Morgan has also established the Morgan Foundation, which supports charities working with children and families across North Wales, Merseyside, West Cheshire and North Shropshire (his native Liverpool and the surrounding regions).
[edit] Family
Steve has five children and lives in Cheshire with his wife and their two youngest children.
[edit] References
- ^ Tycoon Morgan in Wolves takeover. BBC News Online (2007-05-21). Retrieved on 2007-05-21.
