Source: Daily_Mail
China's Kenny Huang Liverpool bid NOT backed by billionaire fund
The Chinese state-linked investment fund linked with a takeover bid for Liverpool insist they know of no plan to buy the Barclays Premier League giants.[LNB][LNB]This way to Anfield? Kenny Huang is edging closer to a Liverpool takeover [LNB]Tycoon Kenny Huang is the frontrunner to buy out Anfield's American owners George Gillett, but reports that his bid was backed by the China Investment Corporation have been dismissed.[LNB]A spokesman for the Chinese government's sovereign wealth fund, which manages a £188billion portfolio, told the Financial Times that they had never heard of Huang or a plan to buy Liverpool.[LNB]It has been claimed that CIC had sold £351million worth of shares in the global financial services firm Morgan Stanley, of which it acquired a 9.9 per cent stake three years ago, in the last couple of weeks - a figure equivalentto the debts currently held by Liverpool.[LNB]Liverpool chairman Martin Broughton is hopeful of concluding a sale by the end of the month but the break up of Hicks' sports empire has already begun in the United States.[LNB]His baseball franchise the Texas Rangers was auctioned off for £374million in the early hours of this morning after Hicks' ownership group defaulted on loans.[LNB]According to the team's bankruptcy plan, creditors will only get about £47million of the £330million owed to them.[LNB]However, the judge in the case said lenders can go after Hicks' othercompanies, although it is not sure how that will affect Liverpool, if at all.[LNB]The Texan is currently also looking to sell the Dallas Stars ice hockey team by the autumn as he moves out of sports ownership.[LNB] History: Liverpool finished a lowly seventh in the Premier League last season and are laden with debt[LNB][LNB] Scepticism over Liverpool bidder as Huang remains frontrunnerSign up to our FREE Fantasy Football game - with £40,000 in prize money up for grabsRoy Hodgson: I won't allow my Liverpool stars to play blame gameIpswich make top four!... £1,000 tickets cost more than United and Liverpool LIVERPOOL FC
