Pattaya Daily News

20 August 2010 :: 14:08:45 pm 35846

Huang Disillusioned over Slow Progress of Liverpool bid

Chinese businessman Kenny Huang has voiced his disappointment over the Liverpool board’s relative slow progress in dealing with his proposed takeover bid, according to the UK press.
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United Kingdom, the 19th of August 2010: Although only submitting his takeover offer on deadline day (Friday the 13th of August) Huang is reportedly unhappy with the lack of progress being made, warning that he could walk away from the deal if it is not completed promptly.

Liverpool’s scheduled board meeting, called to examine the various takeover bids, was cancelled as no bids had been received for the club as of Thursday last week. However, now it appears that several bids came to fruition on deadline day, including that of Huang, thought to be the biggest player in the battle for Liverpool.

Accordingly, the Liverpool board are now accessing the various bids, before they will make their decision on a preferred owner. The assessment stage largely surrounds verifying the amount of funds, source of the funds and credibility and history of the prospective owner.

Huang is reportedly desperate for the deal to be concluded prior to the start of the transfer window, so that he can equip manager Roy Hodgson with adequate funding to support further signings in January or even before the end of the summer window.

UK media have since revealed that Huang, who has allegedly provided all relevant paperwork to substantiate his 400 million pound offer, is demanding that a deal be done as soon as possible. Following claims that Huang is backed significantly by China’s communist regime via the China Investment Corporation, the board may be strung on a potential moral dilemma regarding Huang’s proposal.

Current American owners George Gillett and Tom Hicks have until October to sort out a 237 million pound debt with the Royal Bank of Scotland or the club could be taken over by the bank. The unpopular Americans, despite the clubs financial situation, are desperate to make a profit on their original purchase of the premier league club and have been reluctant to reduce what many are touting as an inflated evaluation.

Reporter : Harry Roberts   Photo : Internet   Category : Sports News

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