Sporting Intelligence
FootballNewsREVEALED: Kenny Huang tells Liverpool his backers are C.I.C, worth $330bn; no proof of funds yet

REVEALED: Kenny Huang tells Liverpool his backers are C.I.C, worth $330bn; no proof of funds yet

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By Nick Harris

4 August 2010

Kenny Huang, the Chinese businessman linked with a takeover bid for Liverpool in recent days, has told the club’s hierarchy that he has the financial backing of the China Investment Corporation, China’s largest sovereign wealth fund with assets of $332bn, sportingintelligence has learned.

If this backing is proven to be true, it would be truly sensational, representing the wealthiest potential owner not just in the history of English football but in global sport.

But neither Huang nor any of his rival bidders have yet provided any proof of funding. Huang has not yet provided any firm evidence his backers are C.I.C.

In what is being described as a “hugely fluid” situation, Liverpool’s board is considering “five or six” proposals for the club. The situation is moving towards “put up or shut up”. No substantive developments are expected this week although the C.I.C claim will become global news in the next 24 hours.

If C.I.C’s involvement is confirmed – and questions to its offices in China today by sportingintelligence remain unanswered – it would be truly sensational. On the flip side, for that very reason, everyone at Liverpool is remaining cautious until proof arrives.

Sources in China remain highly skeptical. Our story on today’s earlier developments, including more details on Huang’s background and business interests, can be found here.

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