Hong Kong businessman pulls out of Liverpool takeover race | sports | Hindustan Times
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Hong Kong businessman pulls out of Liverpool takeover race

sports Updated: Aug 21, 2010 15:57 IST
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Hong Kong businessman Kenny Huang has pulled out of the running to buy English Premier League club Liverpool.

Huang said in a statement that he and his Hong Kong-based investment company QSL Sports were pulling out of takeover talks with the Anfield club without giving the reasons behind the decision.

"We thank the many Liverpool fans who expressed support for our efforts and wish the club great success in the years to come," the BBC quoted Huang, as saying.

"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. 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. I am now considering my future options and will be making no further comment at this time," he added.

Huang was the first party to openly declare an interest in buying the club from US duo Tom Hicks and George Gillett.

He was reportedly keen to secure an early agreement to give manager Roy Hodgson time to bring in reinforcements before the end of the transfer window and was ready to acquire the club's 237 million pound debt.

Liverpool has endured a torrid three years under the ownership of Hicks and Gillett, with the club entangled in internal feuds and conspiracies, and the performance on the pitch declining.

According to reports, the richest Indian and Reliance Industries' Managing Director Mukesh Ambani and Sahara Group Chairman Subrata Roy are also among the six potential parties looking to buy the 18-times English champions.

Mukesh Ambani owns the Indian Premier League (IPL) franchise Mumbai Indians, while Roy's group recently purchased an IPL franchise Sahara Pune Warriors.

Sahara also sponsors the Indian cricket and hockey teams.