Chinese businessman Kenny Huang on Friday ruled himself out of the running to buy English Premier League club Liverpool.
Huang said in a statement that he and his Hong Kong-based investment company QSL Sports were pulling out of takeover talks with the Anfield club without giving the reasons behind the decision.
“Over the past few months we learned first-hand that Liverpool has a very special place in the hearts of millions of fans around the world,” Huang said. “We concluded that a plan that properly capitalizes the business and provides funds for a new stadium and player-related costs would allow Liverpool FC to provide its great fans with the success they deserve.”
“Our strategy and unique ability to expand the fanbase in Asia would also have been of benefit to all. We regret that we will not have the opportunity to implement this strategy,” Huang said.
“We thank the many Liverpool fans who expressed support for our efforts and wish the club great success in the years to come,” He added. “I am now considering my future options and will be making no further comment at this time.”
FIRST PARTY
Huang was the first party to openly declare an interest in buying the club from Americans Tom Hicks and George Gillett. He refused to comment when it was claimed his bid was backed by the Chinese government.
Huang had pledged to clear Liverpool’s debts and give manager Roy Hodgson funds to spend in the transfer market.
It was reported, however, that he wanted a deal completed within two weeks or he would pull out.
The Chinese tycoon was reported earlier in the week to be growing impatient with the Anfield board, who are considering a number of bids for the club.
Huang’s bid to buy Liverpool is thought to have valued the club at about £325 million (US$505 million).
SYRIAN BID
His decision to go public was followed by another declaration of interest from a consortium fronted by Syrian businessman Yahya Kirdi.
Liverpool were put up for sale by Hicks and Gillett in April with debts of £351.4 million.
The Royal Bank of Scotland, their largest creditor, are thought to be owed about £237 million with a penalty fee of £60 million due if it is not repaid by Oct. 6.
British Airways boss Martin Broughton was brought in as chairman by Hicks and Gillett in April to facilitate a sale.
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