By Nick Harris
23 August 2010
Kenny Huang requested a period of exclusivity for his putative bid for Liverpool but was denied it after failing to satisfy some key requirements to gain such exclusivity, sportingintelligence understands.
Huang withdrew from the running for Liverpool on Friday without providing any reason. It has been reported that he was unhappy with the behaviour and demands of the Liverpool chairman, Martin Broughton.
This website understands that the Liverpool board has never been opposed, in principle, to granting an exclusivity period to any bidder in order to enable that bidder to have access to the books, and work on finer details of outline plans.
But the conditions for granting such exclusivity included proof of funds, and revealing the identities of financial backers.
It is understood that, contrary to widespread reports elsewhere, Huang was either unable or unwilling to provide proof of funds, and unable or unwilling to provide details about the identity of his backers. His request for exclusivity was therefore denied. He pulled out.
There remains a sincere belief, in some quarters, that Kenny Huang was a credible bidder with guarantees of funding and long-term plans for the club. Others retain serious doubts.
To date there has been no proof provided that Huang is, or was ever, backed by the CIC sovereign wealth fund of China, or any other backer of that nature.
Sportingintelligence home page
Want to comment on this story?
The subscription and comments policies of sportingintelligence have recently changed. Any user can comment on any story, however, by emailing using this link and including the story topic in the subject box. Your comments will then be manually posted by an administrator.
leave a reply
You must be logged in to post a comment.