Steve Morgan (businessman)
||A major contributor to this article appears to have a close connection with its subject. (November 2013)|
|Steve Morgan OBE|
|Born||Stephen Peter Morgan
25 November 1952 (age 61)
Garston, Liverpool, England
|Home town||Garston, Liverpool, England|
|Net worth|| GB£510 million
Chairman of Redrow (1974–2000) and (2009–present)Chairman and Owner of
Wolverhampton Wanderers F.C. (2007–present)
|Predecessor||Sir Jack Hayward OBE|
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. 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.
In November 2000, after 26 years, Morgan stepped down as Redrow Chairman, 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.
In 1992 Morgan was awarded the OBE for his services to the construction industry. He is a Fellow of the Institute of Builders, and holds Honorary Fellowships at Cardiff University, Liverpool John Moores University, Glyndŵr University., Wolverhampton University,
In 2001 Morgan founded The Morgan Foundation, which has awarded nearly £12m to over 350 charities across North Wales, Merseyside, West Cheshire and North Shropshire. Its aim and philosophy is to make a difference to those organisations and charities who work directly with children, families, disadvantaged, elderly and disabled within the remit area.
A shareholder at the club, Morgan attempted several times to take full control, most notably when he made an offer in 2004 which valued the club at £61m. This was rejected, as the board felt that the offer undervalued the club. When Liverpool eventually was sold to Tom Hicks and George Gillett in 2007, the reported value was in excess of £170m.
In 2007 an opportunity arose to purchase Wolverhampton Wanderers, a club which he had previously regarded as his “second club”. 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.  The takeover was formally completed on 9 August 2007 when Morgan became Chairman of the club. On handover, Sir Jack Hayward stated that Morgan “had had a heart transplant – from Liverpool to Wolverhampton.” In May 2009 Wolves were promoted, as champions, from the Championship to the Premier League, but were relegated back to the Championship in May 2012 after three seasons in the Premier League. Wolves will play in League One in the 2013-14 season after suffering a second successive relegation in the 2012-13 season.
Morgan has five children and resides in Cheshire with his second wife and two youngest children.
- "The Sunday Times Rich List 2013". features.thesundaytimes.co.uk. Retrieved 4 June 2013.
- "'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
- "Honorary Graduates 2010" wlv.ac.uk
- "Merseyside Funding Information Portal". mfip.org.uk. 27 January 2011. Retrieved 25 June 2013.
- 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)