Main Huang investor blames publicity for deal collapse
Published 25/08/2010 | 05:00
Chinese businessman Kenneth Huang's did not enter a formal bid for Liverpool after his "anchor investor" walked away because of the torrent of publicity surrounding the deal.
Last night Marc Ganis, Huang's American business partner, confirmed that there was no bid prior to their withdrawal from the process last week.
"There was never a formal proposal submitted by us to the club and we have been very clear about that," Ganis said.
The Huang bid's credibility in the eyes of Liverpool chairman Martin Broughton was undermined when they were forced to seek fresh investment to replace a key investor.
Sources close to Huang's company, QSL Sports, claimed that the investor walked away because of the publicity surrounding the process.
"We wanted to stay under the radar and do this quietly, but that wasn't possible. We have now withdrawn from the process, which is the end of the matter as far as we are concerned." (© Daily Telegraph, London)