By Soccernet staff
Kenny Huang was interested in a takeover.
Hong Kong businessman Kenny Huang has withdrawn his
high-profile attempt to buy Liverpool Football Club.
Huang's statement provided no reason for his decision to pull
out of negotiations.
He said: ''Over the past few months we learned first-hand that
Liverpool has a very special place in the hearts of millions of
fans around the world.
''We concluded that a plan that properly capitalises 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 fanbase 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.''
It was reported earlier this week that Huang was growing
impatient with the Anfield board, who are carrying out due
diligence on a number of bids received.
Huang's bid to buy Liverpool from its American owners is thought
to have valued the club at around £325million. His decision to go
public was followed by another declaration of interest from a
consortium fronted by Syrian businessman Yahya Kirdi.
Huang, a tycoon well known in the Chinese sports industry, had
pledged to clear Liverpool's debts and give manager Roy Hodgson
funds to spend in the transfer market. It was reported, however,
that he wanted a deal completed within two weeks or he would pull
out.
Liverpool were put up for sale by Hicks and Gillett in April
with debts of £351.4million.
The Royal Bank of Scotland, their largest creditor, are thought
to be owed around £237million with a penalty fee of £60million due
if it is not repaid by October 6.
British Airways boss Martin Broughton was brought in as chairman
in April to facilitate a sale.