Chinese businessman Kenny Huang has pledged to invest heavily in
Liverpool should his ownership bid succeed.
Promises: Huang has big ideas for
Liverpool
The head of Hong Kong-based investment company QSL Sports Ltd
has been in talks with Royal Bank of Scotland for some time over
buying out the Reds' £237million debt.
That would give him 'a ridiculously large amount of leverage', a
source said, in order to be able to force out unpopular owners Tom
Hicks and George Gillett.
But the spending would not stop there as Huang, whose interest
is described as 'remarkably serious', is keen to get a deal done in
order to be able to furnish manager Roy Hodgson with money to spend
in this month's transfer window.
In addition, he will also turn his attention to finally getting
Liverpool's new 60,000-seater stadium built in Stanley Park after
three years of inertia.
'He wants to get it done quickly so investment can come this
summer,' said a source close to the bid.
'Liverpool need investment in the playing squad and
infrastructure and Huang wants to build the stadium.
'The club has an outstanding reputation but does not have the
infrastructure to keep with it and make it grow.'
Huang is backed by one of the wealthiest investment funds in the
Far East and is well known in China for his interests in baseball
and basketball, last year buying a 15 per cent stake in American
NBA side Cleveland Cavaliers.
In the Red: Liverpool's American co-owners owe RBS
about £237m
He was first linked with a buy-out at Liverpool two years ago
but believes now is the time to make his move.
Huang is making all the right noises to get supporters on board
but, although the majority will be delighted to see the back of
Hicks and Gillett, the fans will be wary of grandiose promises.
The American owners made similar claims when they assumed
control at Anfield just over three years ago, with Gillett
insisting there would be a 'spade in the ground (for the new
stadium) within 60 days'.
That particular boast, like many others, remains unfulfilled
while investment in the squad has gone backwards during their
tempestuous reign.
Underway: David Ngog (right) celebrates scoring for
Liverpool against Rabotnicki in the Champions League last
week
The pair put the club up for sale in April after admitting they
had taken Liverpool as far as they could and independent chairman
Martin Broughton was appointed along with Barclays Capital to find
a new buyer.
However, Huang bypassed that process completely by going
straight to major creditors RBS.
He hopes by making an offer which will see the bank receive most
of their money back he can stay one step ahead and force Hicks and
Gillett out of Anfield.
'By going to RBS you can leverage a large amount of pressure
that no one else can on the owners,' the insider added.
'It is a deal which has no interest in shareholders, meaning
there will be no profit for Hicks and Gillett.'
Reds alert: Liverpool fans have taken issue with
the owners
Gillett informed RBS last week that he was in advanced
negotiations with Syrian businessman Yahya Kirdi.
However, this has been viewed as a stalling tactic in an attempt
to delay the bank's considerations.
If RBS decide to turn down Huang's proposal - and no new viable
bidders are forthcoming - they have the option of calling in their
loan in October.
It would then be classed as 'distressed debt' but with the
transfer window, by then, having closed Liverpool would be a much
less attractive proposition to investors.
Huang is believed to have already spoken to senior figures at
Anfield to express his seriousness about a buy-out and in the hope
that his message will filter down to help persuade top stars like
Fernando Torres, who returned to training today after his
post-World Cup break, the club does have a better future.