Hong Kong businessman, Kenny Huang, has put an end to his company's bid to takeover Liverpool. Huang was reportedly frustrated with the lack of progress on the negotiation table with Liverpool's board after tabling a bid several weeks ago. A statement from Huang's QSL Sports, as reported by BBC Sport, 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."
Initial reports had suggested that a delay in Huang's or any other takeover bid for the club was due to a Premier League ruling that requires prospective buyers to show proof of funds and that none of Liverpool's suitors had completed that process. That theory, however, has been ruled out as BBC Sport says that Huang had provided proof of his funds.
This would then lead many to conclude that Huang's decision to withdraw his bid owes to the fact that Liverpool's American owners had no intention of selling the club to him and were still holding out for a higher offer. If this is true, it illustrates a very bleak future for the football club as Huang had been tipped to be the best and only candidate available to rescue Liverpool from their financial woes.
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