Source: Team_Talk
Huang denial thickens Reds plot
Chinese businessman Kenny Huang has denied reports he has made a formal bid for Liverpool, with Yahya Kirdi's consortium firmly in the frame.[LNB] The founder and chairman of Hong Kong-based investment company QSL Sports Ltd has been in talks with Royal Bank of Scotland (RBS) for some time over buying out Liverpool's £237million debt.[LNB]That would give him "a ridiculously large amount of leverage", a source said on Monday, in order to be able to force out unpopular owners Tom Hicks and George Gillett.[LNB]However, in a statement released to The Sport Briefing by Huang's representatives, the QSL chief has stated that reports of an official bid are premature.[LNB]The statement read: "In response to widespread media reports that Kenny Huang had made a formal bid for Liverpool Football Club, Mr Huang would like to emphasise that he has registered interest in investing in Liverpool FC but has made no formal bid.[LNB]"There has been much speculation and commentary from a wide array of people, many of whom have little knowledge of the facts.[LNB]"Unless there is a statement that specifically comes from Mr Huang or his authorised representatives, which presently is solely Hill & Knowlton Hong Kong office, we would suggest such comments should be given little credence.[LNB]"At this point in time there is nothing further for Mr Huang to announce. If there comes a time where this changes, we will make the appropriate announcements."[LNB]Huang is backed by one of the wealthiest investment funds in the Far East and is well known in China for his interests in baseball and basketball, having last year bought a 15% stake in American National Basketball Association franchise Cleveland Cavaliers.[LNB]He also has long-term deals to develop China's domestic baseball and basketball leagues in a nation where the two sports are rapidly growing in popularity.[LNB]Meanwhile, a rival consortium to Chinese entrepreneur Huang are claiming they are close to sealing a deal to buy Liverpool.[LNB]Syrian businessman Kirdi, who represents a group of investors from the Middle East and Canada, has said a price has been agreed and a formal purchase agreement "is in the final stage of negotiation".[LNB]However, much the same noises were made by Kirdi's representatives in April and no deal was done, and he has been dealing with the American owners Tom Hicks and George Gillett rather than Liverpool chairman Martin Broughton, who has been detailed to sell the club.[LNB]Under new rules on club ownership announced by the Premier League on Tuesday, all prospective owners are obliged to give the league 10 days' notice of a takeover and prove they have the funds to sustain the club.[LNB]Liverpool and a number of parties contemplating a takeover - including Huang - have already contacted the Premier League to alert them that a change of ownership could be imminent.[LNB]A statement from Kirdi said: "The group is in advanced negotiations with Thomas Hicks and George Gillett, co-owners of Liverpool Football Club, to purchase 100 per cent of the club.[LNB]"Agreement has been reached on all major terms including the purchase price, repayment of the existing bank debt from RBS and Wells Fargo and financing of a new stadium in Liverpool's Stanley Park. A formal purchase agreement between the parties is in the final stage of negotiation."[LNB]Kirdi is a resident of Canada and a former Syria international who oversees investments in Europe and North America on behalf of his investor group, said the statement.[LNB]"Liverpool is a massive football club with passionate and proud fans in Merseyside and in every part of the world," said Kirdi.[LNB]"With additional money to improve the squad and financing in place to build the new stadium, LFC will be on a solid foundation to compete in the Premiership and in Europe for years to come."[LNB]Keith Harris, head of investment bank Seymour Pierce, told Sky Sports News there are still other interested parties looking at the club.[LNB]"All I am prepared to say is we've looked at it very carefully on behalf of would-be buyers, who we know are very serious, we know are cash-rich, we know have the right incentive to do it, the right motivation to do it, and are prepared to take a long-term view," Harris said.[LNB]"I can't say any more at the moment. We have represented a buyer in the past and that is an ongoing situation."
