Chinese businessman Kenny Huang has publicly announced that he is interested in buying Liverpool FC, a move which would give the Chinese government a stand in the UK football club.
By Jason Theodorou
Chinese businessman Kenny Huang has publicly announced that he is interested in buying Liverpool FC, a move which would give the Chinese government a stand in the UK football club.
Mr. Huang is reportedly being funded in his bid for the football club by the China Investment Corporation (CIC), the overseas investment division of the Chinese government. CIC is believed to have assets ranging to at least $332 billion available to spend overseas, and has an overall fund of $2 trillion.
CIC is alleged to have traded $558 million in shares since July 19 to pay off Liverpool’s debt, underlining their interest in the club. CIC also has a significant investment in Canary Wharf.
The club confirmed Mr. Huang’s involvement in a statement, which said: “Mr Huang would like to emphasise that he has registered interest in investing in Liverpool FC but has made no formal bid…There has been much speculation from a wide array of people, many of whom have little knowledge of the facts”.
Syrian businessman Yahya Kirdi has made a seperate bid for the club, pledging to invest in a new ground at Stanley Park and create a ‘stadium with a hotel and shopping centre’. His bid has been welcomed by the club’s owners George Gillet and Tom Hicks, but has been treated less warmly by RBS and chairman Martin Broughton.
