Business Directory

Browse the Directory

Sign Up to the Directory

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

Southampton Secures Chinese Investment Partners

Mon 14th Aug 2017 | Clubs Ownership

Southampton Football Club has announced the formal conclusion of talks which will see Chinese businessman Mr Jisheng Gao take a stake in the Premier League club. In a letter to fans issued on Monday...

Altrincham FC Seek New Investment

Thu 13th Jul 2017 | Clubs Ownership

At a recent Extraordinary General Meeting, the shareholders of Altrincham Football Club passed a series of motions which will now allow the club to bring in new investors. A new controlling share in...

Hartlepool United Announced Club Restructure

Wed 28th Jun 2017 | Clubs Ownership

Hartlepool United Chairman, Pam Duxbury has announced the first phase of the club’s restructure following relegation to the National League and subsequent resignation of Gary Coxall. Coxall...

Chinese company 5USport buy stake in Northampton Town

Mon 26th Jun 2017 | Clubs Ownership

Northampton Town Football Club have announced a new partnership with 5USport, a Sports Development and Education Company based in Guangzhou, China. As part of this partnership and following approval...