Supporters' groups ShareLiverpoolFC and Spirit of Shankly have unveiled a revised buy-out proposal on the day the club's owners are expected to complete the refinancing of their debt.

The fans' organisations are unhappy with the financial structuring of Liverpool and are behind a proposal for supporters to take ownership of the club in a similar scheme to those operated by Barcelona, Real Madrid and other European clubs.

The key change to the group's original proposal is the reduction of the share price from £5,000 to £500. Initially they hoped to raise £500million from 100,000 fans each paying the £5,000 ‘entry fee'.

The aim is to acquire a 60% stake in the club.

The SLFC board said in a statement: “This is a realistic plan that squares the circle: How to get 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.

"Now we need all those Liverpool fans to carefully consider the proposals in detail on our website – and let us know what they think”.

A Spirit of Shankly spokesperson added: “This new proposal is a sound, sensible and workable plan which offers the only real solution for the Club: long term financing that isn’t supported by short term – and expensive - bank debt. The new proposal can do precisely that.”