Chinese tycoon Kenny Huang is reported to have launched a backdoor bid for Liverpool by going straight to the Royal Bank of Scotland (RBS) rather than the American owners. It increasingly looks as if the Syrian fronted bid we reported on yesterday is a diversionary tactic by George Gillett to at least delay the Huang bid.
Chinese tycoon Kenny Huang is reported to have launched a backdoor bid for Liverpool by going straight to the Royal Bank of Scotland (RBS) rather than the American owners. It increasingly looks as if the Syrian fronted bid we reported on yesterday is a diversionary tactic by George Gillett to at least delay the Huang bid.
Huang is partnered by one of the biggest sovereign wealth funds in Asia. He was first linked with taking over Liverpool two years ago and has an impressive track record as head of QSL Sports Limited, a Hong Kong-based investment company. He wants to push the deal through as quickly as possible to make use of the transfer window. He also wants to build a new stadium as quickly as possible.
Huang’s bid guarantees repayment of the RBS loan of about £237m and may therefore be attractive to the bank which has been anxious to clear the debt. Whether or not Huang’s bid succeeds, the amount of interest now being shown by different bidders suggests that the unpopular tenure of Hicks and Gillett at Liverpool may be coming to an end.