By Bill Wilson
BBC News business reporter in Dubai
Hollywood-based film producer Mike Jefferies has said he still hopes to play a role in the future development of Liverpool FC, despite having a move to inject money rejected in the summer.
Mike Jefferies wants Liverpool competing for major honours
"I wasn't trying to take over at Liverpool, I was trying to get together a consortium, and still am, to turn the club around," he said, speaking at the Soccerex football business forum in Dubai.
"I still think things need to change at Liverpool, where their market capitalisation is one-fifth of Manchester United's," he added.
Mr Jefferies, who made his cash in Los Angeles in the late 1990s through business-to-business internet services, says he is a long-time supporter of the Anfield club.
"One of the most depressing things for me was going to meet Liverpool, where I think the amount of income being generated is somewhat lacking. I think things might need to change."
"I want to see Liverpool competing at the highest possible level, on and off the pitch, at the level of the Manchester Uniteds, Real Madrids, Arsenals and Chelseas.
"There is a need to recapitalise Liverpool - restructure it."
With his US background Mr Jefferies is also keen to see clubs such as Liverpool exploiting the US market.
"One of the major growth areas for clubs has to be the US. It is extremely fertile ground for football."
He added: "Business is the key word when talking about football. But it has to be accompanied by business accountability and business acumen."
And, echoing points made in the day by Newcastle chairman Freddy Shepherd, he said he did not know if the current English league set-ups would continue in their present forms.
"I think there is an oversupply of the product. There are 92 clubs in a market that is shrinking, when you see the Champions League taking away market share."
Mr Jefferies now owns Milkshake films and is producing the football film Goal!