Huang withdraws bid for Liverpool FC

The following statement has been issued on behalf of Kenny Huang and QSL Sports:

After due consideration, Kenny Huang and QSL Sports is withdrawing from the ongoing sales process with respect to Liverpool FC. Mr. Huang has formally notified the Chairman of the Liverpool FC Board.

“Over the past few months we learned firsthand that Liverpool has a very special place in the hearts of millions of fans around the world,” Mr. Huang said. “We concluded that a plan that properly capitalizes 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 fan base in Asia would also have been of benefit to all. We regret that we will not have the opportunity to implement this strategy.”

“We thank the many Liverpool fans who expressed support for our efforts and wish the club great success in the years to come. I am now considering my future options and will be making no further comment at this time,” Mr. Huang said.

33 thoughts on “Huang withdraws bid for Liverpool FC”

  1. THANKS A BUNCH YOU DISGUSTING DISPICABLE LEECHES!!!!!!!!!!!!!!!!!!!!!!!!!!!!! BROUGHTON N PURSLOW YOU ARE ALSO TO BLAME!!!!!! YOU HAVE JUST DESTROYED THIS WONDERFUL CLUB!!!!!!!!!

  2. if kenny huang isn’t prepared to fight for control of Lfc, then he’s not the owner i want for Lfc!
    the club are obviously and understandably, taking their time in order to make the CORRECT decision, once bitten and all that!! perhaps the more they dig, the more nervous huang is becoming!!

  3. Someone in the boardroom is trying to sabotage Liverpool Football Club’s success.

    Get the Yanks out NOW. And take Chelsea fan and Roman Abramovich friend Broughton with them,

  4. Huangs decision to pull out now can surely be for one of only a handful of reasons. He either couldn’t provide satisfactory proof of funds, liverpool are leaning towards another or this has all been a huge PR stunt on his part. He talked the talk but when it came down to backing up his claims there was something not quite right . Where to from here though – administration?

  5. TIM i so agree whith you m8 its a f**** jke all my life ive supported this club im 34 now and ive also brought my son up on the great lfc but yer this is really getting to me i keep writing on thesse forums but im just startin to think why do i bother i just want to cry thats wat it makes ya feel like doing im sick to the death of broughton purslow and the 2 t***s DICK an DOM GET THE HELL OUT OF OUR CLUB YANK LIAR’s!! and to top it all off i hear that the 2 dallas cowboys are thinking of stayin put makes you wounder if all this was just a plot to keep gerrard and torres again F****N LEAVE our club for the love of god enough is enough you DO not even own the club you borrewd against the club WELL DONE MOORSE AND PARRY! YOU MAKE ME SICK. some one come forward and take control.

  6. Some people enter these races for the publicity and to feed their egos. They raise their profile on the back of endless media coverage knowing full well they can’t deliver the funding but they enjoy feeding their egos. Anybody remember Michael Knighton? He ended up at Carlisle after pretending he could afford to buy Man Utd and many of us still remember his name today.

    Last week Liverpool asked for bids. This week as soon as the process of asking for proof of funds starts this “chancer” pulls out. People who have cash and the means to deliver keep quiet and do deals in private. People who don’t have cash create smoke and mirrors and blame everybody else before pulling out of something they never intended to complete with their moment of fame intact.

  7. how about he is a proper businesman and this is just part of the game. Its a game of poker for gods sake, think about it the yanks dont want this guy so he is playing hard ball. Expect him to pay the price he wants not the price the yanks want.

    Brilliant move in my opinion. He will be the owner – RBS will mount enormous pressure on the yanks now first thing Monday.

  8. ” And take Chelsea fan and Roman Abramovich friend Broughton with them,”

    and you haven’t spotted Agent Cole yet have you?

    I reckon you’l stay up though

  9. If Huang isn’t a credible bidder and is just a chancer – as some feel he is – then a simple statement from the club makes that clear: “The club can confirm that the sale process is ongoing and that no credible bidders have pulled out since bids were received last Friday”.

    If Huang is a credible bidder then I don’t expect anything other than silence from the board. Silence because they would be unable to make a statement that explained their actions without it exposing that a majority of the board were incompetent or acting outside of the best interests of the club or its fans.

    As for this “leak” about Peter Kenyon’s involvement, what exact motive would anyone have to leak such a piece of duff information?

  10. Dumb & Dumber get out of our club. Surely there must be even more pressure on the 2 T***S to fuck off. Im not at Anfeild all the time but the people who should really voice their opinions. We as supporters are the club we buy merchandise travel hundreds of miles to get to games & get our kids into the side & buy even more mechandise. Step up protests and get them jokers out theyre a pair of liars. Why should we put up with their s***e any longer, IM SO SICK OF THE MESS THEYVE MADE A***HOLES.

  11. Remember everything that you hear from now until completion of any deal, is all part of someones strategy in buying this great club. Best thing to do is turn your computer off and wait until the deal is done. Also remember, for what its worth, this club is already the most watched team on sky sports (i did say for what its worth) but it proves how huge this club is – what would happen if we actually one something consistently – with a Chinese owner the world is ours. Lets hope we do it our way and not the Manure, Chelski, Man citeh way

  12. Chanel five – why would you have ‘agent cole’ at a club you felt might just stay in the league.Threatened ?

    Everyone has reached their potential except LFC and yet the reds are one of the biggest in the world now – Chelski – your not even the biggest in London (Ars and Spuds are still bigger) !

  13. People are over reacting. It’s clear this guy was in it for the publicity, even if his intentions were real. It takes a long time to take over a business, and the club is up for bid. This means it’s the club’s legal duty to thoroughly examine each and every bid. None of us know what real bids have been presented and what they offer. Time will tell, we’ll learn the truth soon enough. There no point in carrying on like brats having tantrums. If no one comes in, so be it, the club is not an attractive proposition compared to others in the league. You can than Moores and Parry for sitting on their ass while our rivals went out and raised money for new grounds.

  14. Paul – Agree Sanity at last!!

    If everyone reacts to everybit of ‘breaking news’ then there in for a rough ride. Hang on in there, i have bought a few small businesses and it took at least three months. This one will run the distance, you can be sure of that.

    The future is bright, the future is red !

  15. listen guys, moores saw pound signs and sold to the highest bidder admitting that he didn’t even check-out tom hicks, surely you don’t expect the current board to be so stupid as to do the exact same! personally i think the more the board dug into huang the more nervous he’s become, why is he in such a hurry? and don’t tell me it’s to give roy a war chest, the fact he is going to explore other options now tells me that, just like dumb & dumber, he is looking for a money-making opportunity, he’s not interested in the institution that is Lfc or it’s long-suffering fans, i for one, am prepared to wait for the “fit & proper” owner

  16. Huang has thrown his toys out of the pram. Waldorf and Staddler have stitched up the our club, we need true owners with finances. The Barca model is the way to go fan ownership, with rights to sell our own broadcast rights and a wealthy president (Steve Morgan).

  17. No bids on the table more debt in October a manager with no money to strengthen how long do you think torres and gerrard will hang around for January

  18. This is actually good news but you all just can’t see it. This guy was a total chancer from the begining & I can’t believe he took so many people in. It was a great story that we all want to hear, especially the bit about not having any profit for the yanks. If he was a real bidder then for what reason would he pull out now?? there’s only one, money, and that’s it, somewhere down the line the word leverage was going to once again raise it’s ugly head.

  19. A moot point but has the Huang statement been verified? Looks a bit dodgy to ne if supposedly coming from a polished PR company. Also why does the blurb about QSL refer to the “Liverpool initiative” if this no longer the case?

    I may of course be talking total **** but anything is possible at moment.

  20. @ Raj

    This was a genuine statement from Huang’s PR company. I’m as suspicious as anyone these days and so I checked the headers in the email they sent us, it proved it was sent from one of their IP addresses.

  21. If I bought the club myself I could market it in China very simply by employing the best marketing people in China to do that job for me. You don’t have to be a Hong Hong China man to do that. You, Me, Jim, nor The Times really knows what exactly what’s going on in the process but from the outside this guy looks like a total fake. On the other hand he is now quite famous and everyone knows the name of his little companies. I think we’ll all know in a day or two what the real story is.

  22. According to the Gaurdian its a negiotating tactic………who knows, hopefully we’ll find out sooner rather than later!

    Tired of the club being dragged through the mud!

  23. Well, apparently the banks were satisfied with Huang’s bid and his proof of funds. So there’s only one real place that leaves the blame.

    But the main reason for pulling out is to expose the claims that there are many other bids as exaggerated. Word is Huang’s bid is the only one that the banks have taken seriously. So he will be back in a week or so when the Americans need to sell. Either that or they will have to refinance with Barclays.

  24. Sporting intelligence reported right after the bid was submitted that Huang didn’t have the funds to backup his bid, and that he has been involved in other controversial bids and incidents. Huang was never a serious bid, and would never have been good for LFC. See:

    http://www.sportingintelligence.com/2010/08/09/revealed-liverpool-bidder-kenny-huang-in-embezzlement-puzzle-as-doubts-remain-over-background-090801/

    CSC (the Chinese sovereign wealth fund) were quick to deny any link to Huang:

    http://www.sportingintelligence.com/2010/08/05/kenny-huang-drafts-cic-denial-statement-as-confusion-reigns-over-liverpool%E2%80%99s-chinese-bid-050802/

    One thing to be wary of, serious bidders are unlikely ro speak to the media or put our a press release before they have had a formal proposal evaluated by the board. Any potential bidder that is talking themselves up to the media, while the board have yet to receive a formal offer or any proof of backing, is likely to have ulterior motives. It was Huang’s dealing with the media that first rang alarm bells with me.

  25. The only consolation for Pool fans is that there probably are other interested parties. The difference is that serious investors and groups serious about buying the club are not likely to push out a press release or speak to the media until they have had a formal bid reviewed by the board. Always be wary of any potential buyer who is talking to the media before talking to the board, as both Kenny and the Syrians did. Their motives are usually the opposite of what would be good for the club.

    That said, if I were on the Liverpool board, I would be calling up either Mark Cuban or Paul Allen at about this point. Cuban just had his bid for the Rangers beaten (another Hicks investment that went sour – it was sold in an administrative court a few weeks ago) and has a consortium in place atm with at least $600M available. Paul Allen owns a number of sporting teams in the US and would likely be interested in an investment such as Liverpool (Cuban owns the Mavericks). There is no other group that would really be viable, since this investment will require both a lot of funds, sporting experience and some patience. None of the PE firms would find this deal attractive as the returns over the life of a fund are not there.

    The Liverpool yanks at the moment are effectively bankrupt. They had both had numerous business failures due to the financial crisis and were banking on a large Liverpool sale dragging them out of the problems they have in the USA. Not happening now.

  26. @Jim thanks for clearing that up.

    Is it possible to place faith on board to do what is in best interest of club? We’re over-reacting with every piece of snippet of news and in turn failing to see the bigger picture/long term. The club will still be there post Gerrard, Torres et al. Important that club is healthy in long term without getting drawn into short termism.

    Patience my fellow reds

  27. My (admittedly simplified) understanding of the situation is, correct me if I’m wrong, that we are approx £350million in debt, of which £250million is owed to RBS in the next few months, our annual interest payments on this loan are approx £40 million and our last annual accounts showed a loss of approx £50 mill.

    So, whoever buys us will have to cover at least the £350million in debts and whatever interest accumulates, invest a further £400 million in the stadium to bring up our revenue in line with the other top 4 clubs and to provide at least £50 mill of funds to invest in the team. All in all we’re looking at least $800 million spent on the club. Add to this the profit that H&G want to see on their initial £210 million spend (which wasn’t even their own money).

    Even this massive investment doesn’t guarantee the new owners a short term return to healthy profits; qualification for the Champions League is not assured with Man City and Spurs challenging closely, and the completion of a new stadium is at least 3 years away.

    It seems to me that buyers come in 3 types:

    1) Multi-billionaires willing to pour hundreds of millions of their own money into what is basically a rich man’s play thing or ego-booster (Chelsea, Man City),

    2) Chancers looking to use loans to buy an asset and realise a quick profit on it (Man U, L’Pool) and

    3) Investment funds/rich individuals who are willing to invest in a football club with the expectation of eventual long term profits (Villa)

    Buyers of the 1st type are rare and even one that was an ardent Red would hesitate to spend £800mill (Chelsea cost £140m, Man City cost £200mwith a new stadium already in place) .

    Buyers of the 2nd type we already know about.

    Buyers of the 3rd type are probably the most common but given the precarious nature of football and Liverpool in particular, they are also the least likely to invest.

    So, given that Broughton has already said that he’d filtered out the time wasters and that what remained were “credible” and that H&G are clearly holding out for a profit, it’s not surprising to me that Huang pulled out. He’s not a fervent Red fan like us, he’s a businessman. If I was in his position I would do the same thing to put pressure on the board and on H&G.

  28. BLAHH BLAHH BLAH!! its the 23rd today still nothin same old same old b…s…t what the bloody hell is going on WAKE UP LFC BOARDmembers for CRIST SAKE GET IT SORTED.

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