Chinese Billionaire Kenny Huang Bids for Liverpool Takeover

Hashem RouhaniContributor IAugust 2, 2010

LIVERPOOL, UNITED KINGDOM - FEBRUARY 06:  American businessmen George Gillett (L) and Tom Hicks talk to the media after their takeover of Liverpool Football Club on February 6, 2007, in Liverpool, England. Gillett and  Hicks have reached a deal, thought to be worth GBP470m, to buy the football club.  (Photo by Christopher Furlong/Getty Images)
Christopher Furlong/Getty Images

The CEO of Chinese sports investment company QSL Kenny Huang has bid to buy Liverpool soccer club’s almost $377 million debt.

The Press Association reports Huang presented a formal bid to the Royal Bank of Scotland.

If his offer is accepted, Huang will own a very large amount of the club, giving him leverage to force out the current owners Tom Hicks and George Gillett.

“By going to RBS, you can leverage a large amount of pressure that no one else can on the owners. It is a deal which has no interest in shareholders, meaning there will be no profit for Hicks and Gillett,” a source told the Press Association .

Hicks and Gillett put Liverpool up for sale in April but there has so far been little prospect of a deal being completed. Hicks and Gillett purchased Liverpool for a reported $348 million in 2007.

The Daily Telegraph claims that as a result of Huang's valuation, Gillett has told the RBS he is in advanced negotiations with Syrian businessman Yahya Kirdi to delay Huang's efforts.