Two supporters' groups have unveiled revised proposals for the acquisition of Liverpool Football Club (LFC) from the Premier League club's current American owners, Tom Hicks and George Gillett.

ShareLiverpoolFC (SLFC) and Spirit of Shankly (SoS) had initially planned to raise £500m through the sale of 100,000 shares costing £5,000 each to fund the takeover bid, although the entry fee has now been reduced to encourage more fans to sign up. The groups are now looking to raise £150m to acquire a 60 per cent stake in the club, with £10m to come through the sale of shares costing £500, while the remaining £140m will be raised through shareholding fans acquiring SLFC Loan Stock.

A commercial partner is also being sought for the bid, which comes as Hicks and Gillett seek to complete the refinancing of LFC's debt by extending existing credit facilities with the Royal Bank of Scotland and Wachovia Bank. In a statement, SLFC said: "This is a realistic plan that squares the circle - how to get a broadly-based fan ownership of the club and relieve the level of debt by offering Liverpool fans an affordable entry fee and a chance to get a modest return for their additional financial support."