Steve Morgan (businessman)
| Steve Morgan OBE | |
|---|---|
| Born | Stephen Peter Morgan 25 November 1952 (age 59) Garston, Liverpool, England |
| Nationality | British |
| Occupation | Businessman |
| Years active | 1974–present |
| Home town | Garston, Liverpool, England |
| Net worth |  GB£350 million[1](US$554 million) |
| Title | Chairman of Redrow (1974–2000) Deputy Chairman of Redrow (2009–present) CEO, Chairman and Owner of W'Hampton Wanderers F.C. (2007–present) |
| Predecessor | Sir Jack Hayward OBE |
| Successor | Incumbent |
Stephen Peter Morgan OBE (born 25 November 1952) is an English businessman, philanthropist and chairman of Premier League football team Wolverhampton Wanderers F.C..
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[edit] Business career
Training as a site engineer, in 1974 Morgan borrowed £5,000 from his father to buy his then employers, Wellington Civil Engineering, which was on the verge of going out of business.[2] He developed this company into the builder Redrow plc. Under his chairmanship, Redrow was floated on the London Stock Exchange in 1994, ultimately becoming a FTSE 250 Company.
The 1990s saw Morgan also invest in hotels, developing St David’s Park Hotel in North Wales and Carden Park in Cheshire, eventually merging his interests into the De Vere Group.[2]
In November 2000, after 26 years, Morgan stepped down as Redrow Chairman,[2] although his company, Bridgemere, remained one of its largest shareholders. In 2001 Morgan founded Brownfield specialist company Harrow Estates plc. He eventually rejoined the Redrow Board in March 2009 as Deputy Chairman and Chairman-Designate after having rebuilt his stake in the company.[3]
In 1992 Morgan was awarded the OBE for his services to the construction industry.[4] He is a Fellow of the Institute of Builders, and holds Honorary Fellowships at Cardiff University,[5] Liverpool John Moores University[6] and Glyndwr University.[7]
The 2009 Sunday Times Rich List placed him as Britain's 146th richest with an estimated £350million fortune.[8]
[edit] Football
[edit] Liverpool
A fanatical football fan, Morgan was a life-long Liverpool F.C. supporter, having followed the club from the days of Bill Shankly.[2] Having built up a 5% stake in the club, after a series of rebuttals and disputes with then owner David Moores,[2] he made a counter bid to that of then Prime Minister of Thailand, Thaksin Shiniwatra.[2]
[edit] Wolverhampton Wanderers
After Moores sold Liverpool to George Gillett and Tom Hicks, in 2007 an opportunity arose to purchase Wolverhampton Wanderers, a club which he had previously regarded as his “second club”.[9] In a unique deal Morgan agreed to buy the Club from Sir Jack Hayward for a token fee of £10 on condition he invested £30 million in the Midlands club. [10] The takeover was formally completed on 9 August 2007 when Morgan became Chairman of the club.[11] On handover, Sir Jack Hayward stated that Morgan “had had a heart transplant – from Liverpool to Wolverhampton.”[9] In May 2009 Wolves were promoted, as champions, from the Championship to the Premier League.
[edit] Family
Morgan has five children from a previous marriage, he resides in Cheshire with his second wife and two youngest children.
[edit] References
- ^ "Steve Morgan bio at birminghampost.co.uk". http://www.birminghampost.net/birmingham-business/richlist/profiles2011/2011/01/23/17=-17=-steve-morgan-350million-350m-65233-28033521. Retrieved 15 November 2011.
- ^ a b c d e f "'Business-fan' bidding for Liverpool" BBC.co.uk (Sport), 13 May 2004 (14 August 2009)
- ^ "Redrow PLC (RDW)" Investegate.co.uk, 20 March 2009 (14 August 2009)
- ^ Instone, David; "Wolves are handed over to Morgan for a tenner" Independent.co.uk, 22 May 2007 (14 August 2009)
- ^ "List of Honorary Fellows and Fellows" Cardiff.ac.uk (14 August 2009)
- ^ Liverpool John Moores University: List of Fellows
- ^ Wolverhampton Wanderers: Whos Who
- ^ Sunday Times Rich List 2009
- ^ a b Berry, Paul; "Morgan takes Wolves into a new era" BirminghamMail.net, 10 August 2007 (14 August 2009)
- ^ "Tycoon Morgan in Wolves takeover" BBC.co.uk (Sport), 21 May 2007 (14 August 2009)
- ^ "Morgan completes Wolves takeover" BBC.co.uk (Sport), 9 August 2007 (14 August 2009)
