Football Update: The new to be Liverpool owner Huang ready for “heavy investments” in the club
The Hong Kong based businessman Kenny Huang has announced that he will make a lot of changes in the Liverpool to help it bring it to its best. He has stated that he is planning to make a lot of financial investments in the club that will help attain its former glory.
The man in charge of the Chinese investment company, QSL Sports Limited, Huang has been linked the Royal Bank of Scotland for a long time negotiating for funds and it seems eminent that in the near future the Reds will have a Chinese owner. The supposed bid for Liverpool is right now around 237 million pounds, while their American owners Tom Hicks and George Gillett are asking for around 800 million pounds.
The club right now amasses debts of about 350 million pounds and the latest negotiations with Liverpool board have shown that the Chinese investment company might agree to a price tag of 350 million pounds. Just about two years back, Liverpool was in a much better situation and their price neared to about 700 million pounds but their last disastrous season, in which they finished 7th has changed all that.
One of the major reasons their club failed to cope with pressure from the English Premier League was that their owners Tom Hicks and George Gillett did not provide the club with enough funds to bring in new blood in the team and eventually when Scrousers hit one of their worst forms of bad luck in years they faltered.
Huang has confirmed that this would not be the case when he will be in charge. He has stated he would make “remarkably serious” investments in the club to bring them to the top of the world. He has reassured the new Liverpool manager Roy Hodgson, that he would be handed enough financial backing that he can revamp his squad before the transfer window closes.
This comes after the former 62 year old Fulham manger stated that the probable switching date of the club is when the transfer window closes on 31st August. He confessed that if that happened then the club would be in very bad shape for their opener against Arsenal. Huang confirmed that not only would he be handing the Englishman enough money but he would also be completing the new promised 60,000 seating capacity stadium at Stanley Park. The project has been delayed for the last 3 years but with the new Chinese owners, it seems that they will at last have the stadium ready.
An official from the bidding committee stated, “He wants to get it done quickly so investment can come this summer. Liverpool need investment in the playing squad and infrastructure and Huang wants to build the stadium. The club has an outstanding reputation but does not have the infrastructure to keep with it and make it grow”.
Huang is a prominent figure in the east and the whole of his Asia. He personally and his company have made some major investments in sporting franchises all around the world. Huang has owns the National Basketball and Baseball Leagues in China, also having stakes at the American Basketball League NBA. This is not the first time he has shown interest in buying the club. Just two years ago, he called but then due to unknown reasons he backed out.
Now however, he believes the time is right for the purchasing. He is not the only man to show interest. Martin Broughton the chairman of Liverpool has been appointed especially for this purpose was earlier approached by an Arabian group but they backed out after the group not agreeing in the price. Broughton suggested an 18 month period in the sale of the club but he has received a response much earlier and with the way the things are moving, it is predicted the sale will take place before the last week of August.
On the RBS issue the official stated, “By going to RBS you can leverage a large amount of pressure that no-one else can on the owners. It is a deal which has no interest in shareholders, meaning there will be no profit for Hicks and Gillett”.
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