Hong Kong businessman Kenny Huang has ended his interest in buying Liverpool.
Huang and his company, QSL Sports, were the first party to declare an interest in taking over at Anfield after American owners Tom Hicks and George Gillett put the club on the market in April.
Huang declined to go into detail about why he has ended his interest but reports claim he had become frustrated with the slow pace of negotiations.
"We thank the many Liverpool fans who expressed support for our efforts and wish the club great success in the years to come," he said in a statement.
"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."
Speaking last week, managing director Christian Purslow claimed several parties were interested in buying the Reds.
A consortium fronted by Canadian-based Syrian Yahya Kirdi is believed to remain interested.