Chinese businessman eyes Liverpool

Guangdong-born Kenny Huang is reportedly in talks to buy Premier League team's debt.

    Heavily-indebted Liverpool was put up for sale in April[Reuters]

    The current owners, Americans Tom Hicks and George Gillett, bought the club in March 2007 in a deal worth $348m and refinanced with a $556m package from two banks the following year but it left the 18-time English champions heavily indebted.

    Pre-tax losses

    The pair have had a difficult tenure at Anfield, with supporters regularly protesting at the level of debt taken on by the club after the buy-out.

    The club lost $23.5m before tax last season, a steep drop from a healthy profit the previous year.

    Hicks and Gillett instructed Barclays Capital to find a buyer for the club in April and appointed British Airways chief Martin Broughton as chairman to oversee the sale.

    If Huang does complete a takeover before the transfer window closes at the end of August, sources close to the tycoon have made it clear he is willing to putting significant funds into rebuilding manager Roy Hodgson's squad.

    Hodgson said last month that he wanted the uncertainty over the club's future resolved as soon as possible to allow him to bring in players before the transfer window slams shut on August 31.

    In addition, he will also turn his attention to finally getting Liverpool's new 60,000-seater stadium built in Stanley Park after three years of inertia.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Interactive: Take a tour through divided Jerusalem

    Interactive: Take a tour through divided Jerusalem

    Take a tour through East and West Jerusalem to see the difference in quality of life for Israelis and Palestinians.

    Stories from the sex trade

    Stories from the sex trade

    Dutch sex workers, pimps and johns share their stories.

    Inside the world of India's booming fertility industry

    Inside the world of India's booming fertility industry

    As the stigma associated with being childless persists, some elderly women in India risk it all to become mothers.