Chinese Billionaire Kenny Huang Bids for Liverpool Takeover
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.
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