Liverpool sale set to be complete by 31 August
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Liverpool FC could be sold before the end of the month following intensified interest in buying the club.
The Reds’ chairman Martin Broughton says the club will look to conclude a sale before the transfer window closes on 31 August after receiving “several” offers.
Chinese businessman and chairman of Hong Kong-based QSL Sports Kenny Huang is said to have approached the club’s bankers RBS and Wachovia as well as Broughton about buying the club.
Huang is understood to be interested in buying the £237m debt owed to RBS, or buying the club outright.
The Kuwaiti-based al-Kharafi family is also believed to have approached Broughton and Barclays Capital, which has been appointed by Tom Hicks and George Gillett to oversee the sale of the club.
Huang could offer the club huge commercial opportunities in the potentially enormous Chinese market.
Premier League football is massively popular in Asia and Liverpool already have a large fan-base there.
The club signed a £80m four-year deal with Standard Chartered Bank last year with the intention of using the bank’s Asian stronghold to help “increase the family of Liverpool fans”.
Liverpool fans will be happy to see the end of the Hicks and Gillett. Supporters have become disgruntled with the debt accumulated by the pair in their three-year reign at the club.
Readers' comments (6)
Blindside J | Tue, 3 Aug 2010 10:09 am
If the board ARE to make the decision then who are the voting members apart from the 2 cowboys?
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akshay poonye | Tue, 3 Aug 2010 10:10 am
it will b a great things 4 lfc
ynwa
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Yus | Tue, 3 Aug 2010 10:17 am
Vote to support Kenny Huang for buying LFC from yanks as soon before transfer deadline.This to make sure Roy Hodgson get summer transfer budget for buy top class player.
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Steve | Tue, 3 Aug 2010 11:58 am
Yes. does anybody know how the board will come to the decision. Do the Yanks hold more sway than the other board members etc? Please let this come true!
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Jim | Tue, 3 Aug 2010 4:52 pm
Steve,
There is a five-man board at group level and a six-man board at club level.
Martin Broughton, George Gillett,Tom Hicks, Christian Purslow and Ian Ayre are on both boards. Philip Nash is the extra name on the club's board. The group board will be making this decision.
It's one vote per person, but Broughton has a casting vote if required.
That means Hicks and Gillett need the support of at least one other board member to block a sale.
Huang's bid was for the debt, not the club, but he seems to have been thwarted on this so far. That decision would be completely in the hands of RBS and the pressure is on them to demonstrate that Martin Broughton and Barcap have received some credible offers.
I'm sure there'll be a lot more spin to decipher before this comes to a conclusion.
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Martin Bryden | Fri, 6 Aug 2010 10:52 am
Blindside J, the voting board members would be Gillet, Hicks, Martin Broughton, Ian Ayre and Christian Purslow....
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