Huang exits Liverpool takeover race 23/08/2010 |
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Kenneth Huang has withdrawn from the race to buy Liverpool.
The Chinese businessman was seen as one of the frontrunners to take control of the Anfield club, which has been put up for sale by American owners Tom Hicks and George Gillet.
Huang, chairman of the Hong Kong-based QSL Sports Group, had previously admitted he was interested in investing in Liverpool but has now decided against launching a formal bid.
"After due consideration, Kenny Huang and QSL Sports is withdrawing from the ongoing sales process with respect to Liverpool FC,” said a statement. “Mr Huang has formally notified the chairman of the Liverpool FC board.
"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 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."
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