It appears that the full resources of the Chinese Government through its China Investment Corporation (CIC) are behind Kenny Huang’s bid for Liverpool. CIC has $332bn to spend abroad. Acquiring the club would be a propaganda coup for China and confirm the country’s status as a leading economic and political world power. Premier League football is now big politics as well as big economics.
It appears that the full resources of the Chinese Government through its China Investment Corporation (CIC) are behind Kenny Huang’s bid for Liverpool. CIC has $332bn to spend abroad. Acquiring the club would be a propaganda coup for China and confirm the country’s status as a leading economic and political world power. Premier League football is now big politics as well as big economics.
The Chinese authorities would aim to make a profit on the takeover, rather than simply acting as benefactors, although the new stadium would be built and £150m made available to Roy Hodgson. CIC would seek to build up the fan base in China and elsewhere in Asia which it would be in an unrivalled position to do.
Human rights objections are unlikely to scupper any deal as the Premier League’s enlarged fit and proper person test is a financial means test and nothing else. CIC already owns a stake in London’s Canary Wharf.
Despite all the noise surrounding the Yahya Kirdi bid, it is believed that he has only been negotiating with George Gillett and has not talked to RBS or Barclays Capital who are advising on the sale.