19 Aug 2010Chinese tycoon 'ready to pull out of Liverpool deal'

Football Clubs News | Football Finance News

Chinese businessman Kenny Huang has grown frustrated at the speed of negotiations relating to his bid to buy out Liverpool and is considering pulling out of discussions, according to a report.

The Guardian has claimed that Huang is particularly eager to conclude his takeover before the transfer window closes in order to provide Roy Hodgson with funding to boost his playing squad, but the prospects of completing the deal appear increasingly remote.

Liverpool's board of directors has demanded that suitors provide details of their financial situation and how they intend to pay back the £237 million in debt currently owed to the Royal Bank of Scotland.

Earlier this month, the Observer suggested the English Premier League football club could end up in the control of the taxpayer if a new owner is not installed within the next two months.

A consortium of Indian businessmen, the Sahara India Group, recently withdrew from the running amid concerns over Liverpool's arrears.

Written by Terry Mitchell

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