Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

Levy
FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Huang blames chairman and board for Liverpool pullout

Mon 23rd Aug 2010 | Clubs Ownership

Kenny Huang’s decision to withdraw from the bidding to takeover English football club Liverpool was due to his increasing disillusionment with timescale and pace of a deal, according to UK press reports.

According to the Daily Telegraph, Huang was concerned by Liverpool chairman Martin Broughton’s insistence that the board should reserve the right to accept an 11th-hour bid from another candidate even if the terms of sale had been agreed.

A statement on behalf of Huang announced on Friday night: "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."

Huang's bid to buy Liverpool from American owners Hicks and Gillett is thought to have valued the club at around £325 million. Prospective investors must prove they will pay off the current owners’ £237 million pound debt with Royal Bank of Scotland, fund a new stadium and pay for squad development.

Other candidates still in the mix to takeover Liverpool include Syrian businessman Yahya Kirdi, who represents a group of investors from the Middle East and Canada, New York-based private equity firm The Rhone Group and Kuwaiti investment group the Al Kharafi family.

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Portsmouth Enter Possible Takeover Talks

Thu 23rd Mar 2017 | Clubs Ownership

Portsmouth Football Club has confirmed it’s in talks regarding a potential takeover. In a statement released by the club, they said: “Portsmouth Community Football Club would like to...

Walker Morris Advise On Leeds United Sale

Thu 5th Jan 2017 | Clubs Ownership

Specialist Sports Law Team at Walker Morris reinforces its national reputation for football club acquisitions/sales with the latest sale of Leeds United FC. Specialist sports lawyers at Walker Morris...

Aser Group Holding Acquires 50% Of Leeds United

Wed 4th Jan 2017 | Clubs Ownership

Aser Group Holding has completed its investment in Leeds United Football Club today. Leeds United Football Club has confirmed Aser Group Holding, through its acquisition vehicle Greenfield Investment...

Notts County Sold To Local Businessman

Mon 19th Dec 2016 | Clubs Ownership

Notts County owner Ray Trew has confirmed the sale of the club after reaching an agreement with local businessman Alan Hardy. Having held discussions with a number of prospective buyers in recent...