Indian finance and media giant Sahara India Pariwar has shelved its plan to acquire English Premier League club Liverpool.
"The deal for acquisition of the Liverpool Football Club was in our consideration in the recent past. However, after considering all related factors, we have decided not to go ahead with it, at least for the time being," Sahara spokesman Abhijit Sarkar said in a statement carried by local media on Tuesday.
Sahara, which sponsors the Indian cricket and hockey teams and owns the Pune franchise of the Indian Premier League, had been among a raft of bidders linked by British media to Liverpool, who were put up for sale by American owners Tom Hicks and George Gillett in April.
As many as six parties are jostling to buy the 18-times English champions, who urgently need a cash injection to deal with their 237 million pounds ($377 million) debt and invest in the club, according to media reports.
Sahara had discussions with Manchester United last year about a potential shirt sponsorship, but no deal materialised.