Kenny Huang refuses to comment about QSL and their financial motives
The new potential buyer of Liverpool, Kenny Huang has declined to make any statements on his offer for the Reds and his company being supported by the Chinese government.
Huang happens to be the boss of a Chinese sports organization that promotes sports. The company goes by the name of QSL and is backed by many billionaires. There are recent rumours that relate the company and their activities to be sponsored by the Chinese which makes the too good to be true Liverpool bid remind the board that every rose has its thorns.
The head of QSL Huang also owns the countries National Basketball and Baseball Leagues and has quite some influence along the block. He has refuted any claims made about the company being funded by the Chinese government and has informed that the negotiations with Liverpool for a possible takeover are still in progress.
Sources have confirmed that Huang is currently bidding for the China Investment Corporation (CIC) which has raised many concerns among the sporting community. The CIC is an independent head of institutions from the Chinese government. The company also manages funds up to 188 billion pounds and that is what has interested Huang. QSL majorly invests in sports related fronts helping them develop and maintain a standard. Huang and his accomplices have so far failed to give in a clear perspective of where all the money in the company is coming from.
A spokesman from the company has stated on the issue, “We will not confirm or deny any matter in relation to the Liverpool Football Club unless and until we and the representatives of Liverpool FC have chosen to do so jointly”.
Reports have unveiled that CIC has sold its shares estimated to be around 351 million pounds to the worldwide financial services of Morgan Stanley. The Morgan Stanley company have about 10% stakes amassed over three years. Coincidentally the figure is just about as much as Liverpool Football Club’s debts.
Though the Hong Kong based businessman Huang has offered to buy the club, however he has not formally presented an offer to the club yet. He has said that it is because they are still estimating the club’s value.
It has been revealed that there will be more than just a club involved in the deal. It is predicted that 5 groups are involved in the deal but none of them except the one with whom the Syrian businessman Yahya Kirdi is associated has revealed themselves. The representation is from a group of investors from the Middle East and Canada.
The clubs estimated price is around 500 million pounds to 700 million pounds while the owners of Liverpool Tom Hicks and George Gillett are demanding 800 million pounds. The trust between the owners and the businessman is dissolving fast and if they do not agree on mutual terms fast the deal might be called off.
The Chairman of the Merseyside, Martin Broughton, has claimed that the deal with Huang will strike by the end of this month however the club is also analysing a couple of other bids. The new Liverpool manager Roy Hodgson has stated that he wants the deal to strike before its predicted date of 31st August so that the transfer window is still open and he can use the newly acquired funds on revamping the squad.
The Liverpool team is facing a serious financial crisis as one of the American owner, Hicks has already sold off his baseball team Texas Rangers for 374 million pounds. There are rumours that only 47 million pounds will be given back in comparison to the debts of 350 million pounds.
Judiciary in America has announced that the ones who had lent money to the American owners can retaliate by going after other franchises of Hicks. Hicks is also planning on selling his ice hockey team, Dallas Stars late in the year.
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