Kenny Huang pulls plug on proposed Liverpool takeover
Kenny Huang has announced he will not be taking over Liverpool, saying the time that was being taken in negotiations was the reason behind his decision.
Also, it is believed that Huang had received leaked details from the sale process that his offer was the only viable bid under consideration.
Huang informed the chairman of Liverpool Martin Broughton last night about his withdrawal, and a statement on behalf of Huang read: “After due consideration, Kenny Huang and QSL Sports is [sic] withdrawing from the ongoing sales process with respect to Liverpool. Mr. Huang has formally notified the chairman of the Liverpool board.”
However, Huang has announced his decision may not be the final one, adding in the statement: “I am now considering my future options and will be making no further comment at this time.”
The Liverpool board have disputed Huang’s perception that his bid was the only one, as Liverpool chief executive Christian Purslow has said there are five bids being considered.
Huang was keen to invest but he has ran out of patience. Sources reveal that Huang was getting frustrated having fulfilled every request for documentation, including proof of funds.
“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. We concluded that a plan that properly capitalises the business and provides funds for a new stadium and player-related costs would allow Liverpool to provide its great fans with the success they deserve.
“Our strategy and unique ability to expand the fan base in Asia would have been of benefit to all. We regret that we will not have the opportunity to implement this strategy. We thank the many Liverpool fans who expressed support for our efforts and wish the club great success in the years to come,” Huang’s statement went on to say.
The situation sums up the complications at Liverpool, and current owners Tom Hicks and George Gillett are believed to be wanting to make a return on their money they invested, having borrowed nearly £300million to buy Liverpool back in 2007.
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