Kenny Huang issues ultimatum to Liverpool
With the Premier League season now underway and last Friday’s initial deadline for a takeover of Liverpool having passed, Hong Kong-based businessman Kenny Huang is quickly running out of patience.
Huang submitted a takeover bid at the start of August, but with Liverpool chairman Martin Broughton still deliberating, the wealthy head of QSL Sports Ltd has now issued a take-it-or-leave it message to the Anfield hierarchy.
The Chinese entrepreneur believes that his offer is the only viable one put forward to the Reds, although it was reported two weeks ago that the club are considering as many as five other bids from prospective buyers.
After finishing seventh in the league table last season, the Chinese consortium are concerned that without significant investment, Liverpool will finish outside of the Champions League places for the second consecutive season.
Because of this, Huang is keen to complete the takeover before the transfer window closes. His offer to Liverpool is an attractive one: not only has he promised to make money available for transfers, he has also ensured that cash will be put aside for a new 60,000-plus capacity stadium.
It’s thought that Broughton is waiting on Barclays Capital to confirm they’ve received proof from Huang that he has the funds available to finance the deal. With Liverpool’s current owners Tom Hicks and George Gillett Jr owning £237million to the Royal Bank of Scotland (RBS) – and currently having to pay out £2.5million a week in penalty fees – they’re equally keen for the takeover to reach its conclusion.
The American tycoons took over the Premier League club in 2007, but the relationship between the two soon soured, as did their relationship with the club’s supporters.
When the duo decided they were prepared to sell Liverpool in April of this year, the formal announcement was met with widespread relief from the Anfield faithful after witnessing their club saddled by debts.
Huang has the financial clout to rid the Reds of their debt, and provide huge amounts of cash for new signings in the process.
It seems that it’s a question of when and not if Huang finally completes the takeover of the Merseyside club, but unless there are significant developments within the next two weeks, Broughton may end up ruing his decision to play the waiting game.
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