Huang makes Reds offer

Sky Sports News understands the Chinese business tycoon Kenny Huang has tabled a formal offer to buy Liverpool.

Sky sources: Chinese businessman makes formal bid

Sky Sports News understands the Chinese tycoon Kenny Huang has tabled a formal offer to buy Liverpool. Sources close to the deal say the bid is less than the club's reported net debt of ₤350million and Huang has financed the deal with a partner who is funded by a sovereign wealth fund in the Far East. Sources close to the businessman also say his offer is extremely serious and there is a huge degree of urgency to complete the deal before the transfer window closes on 31st August. Current owners Tom Hicks and George Gillett took over three years ago in a leveraged buyout and owe RBS nearly ₤240m. Huang, who was first linked with a buyout at Liverpool two years ago, is head of QSL Sports Limited, a Hong Kong-based investment company. Sources say one of the reasons he is attracted to Liverpool, who have been up for sale since April, is that he sees a commercial operation in the Far East. A spokesman for Royal Bank of Scotland told Sky Sports News that the bank was "not in talks with any bidder over the sale of Liverpool FC." Any bids would be directed to Barclays Capital, who is advising on the sale of club.

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