Chillin' out till it needs to be funded
ESPN has the really important details
Soccernet has had it confirmed from sources close to the Liverpool takeover bid that Kenny Huang is backed by the China Investment Corporation (CIC), an investment arm of the Chinese Government which owns a stake in Canary Wharf.
Chairman Martin Broughton is hoping to complete a sale of the club before the end of the month with several interested parties having come forward. According to reports in several of Thursday morning’s newspapers, the rival offer from Syrian Yahya Kirdi will not be successful.
Current owners Tom Hicks and George Gillett were said to favour the interest from Kirdi as they would be able to walk away from Anfield with a profit.
CIC, which invests China’s cash reserves in foreign countries, is only willing to repay to debt to Royal Bank of Scotland and Barclays Capital, leaving the North American duo with no return on their investment. But they are believed to be at the top of Broughton’s list of interested parties.
Representatives of Kirdi have claimed to be “in the final stage of negotiation” but that appears to be wide of the mark, with the CIC bid – spearheaded by businessman Kenny Huang – at the head of the queue.
Huang’s representatives are remaining tight-lipped on where their money is coming from.