Saturday, 21st August 2010

Considered by many to be the only viable bidder to take control of Liverpool, Chinese businessman Kenneth Huang announced last night that he had withdrawn from the race to buy the Premier League club.

Huang has grown disillusioned with the amount of time that his bid, which he feels ticks all the right boxes, is taking to be accepted. The bid was one of six on the table, though Huang is believed to have heard from Anfield sources that his was the only viable offer and this is thought to have only added to his confusion over the length of time the board of the club were taking to make a decision.

The Chinese businessman released a statement with his QSL Sports vehicle last night which read:

“After due consideration, Kenny Huang and QSL Sports is withdrawing from the ongoing sales process with respect to Liverpool FC. Mr Huang has formally notified the chairman of the Liverpool FC Board.

"Over the past few months we learned firsthand that Liverpool has a very special place in the hearts of millions of fans around the world. 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 fan base in Asia would also 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. I am now considering my future options and will be making no further comment at this time."

The feeling within Liverpool however is that this latest move by Huang and his backers may be a negotiating tactic. Huang was careful to state that his was "considering my future options", a turn of phrase which suggests he has not entirely walked away from buying the club. More likely is that Huang will wait for the Royal Bank of Scotland, the club’s principal creditors, to take control and then seek to simply buy the debt and therefore the club.



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