Kenny Huang pulls out of takeover talks with Liverpool

The Hong Kong businessman Kenny Huang has withdrawn his interest in buying Liverpool but has not given any reasons for his decision. Huang issued a statement this evening to say he and his company QSL Sports were pulling out of takeover talks with the Anfield club. Huang was the first party to openly declare an interest in buying the club from the Americans Tom Hicks and George Gillett but refused to comment when it was claimed his bid was backed by the Chinese government. "Over the past few months we learned first hand that Liverpool has a very special place in the hearts of millions of fans around the world," said Huang. "We concluded that a plan that properly capitalises the business and provides funds for a new stadium and player related costs would allow Liverpool FC to provide its great fans with the success they deserve. Our strategy and unique ability to expand the fan base in Asia would have bee of benefit to all. We regret that we will not have the opportunity to implement this strategy. "We thank the many Liverpool fans who expressed support for our efforts and wish the club great success in the years to come. I am now considering my future options and will be making no further comment at this time." Huang is believed to have become exasperated at the lack of progress in his attempt to gain control at Liverpool and was thought to want to finalise a deal before the transfer window shut. He was one of several potential bidders who submitted an offer before last Friday's deadline to buy a club he valued at £350m. The former Manchester United and Chelsea chief executive Peter Kenyon had been engaged by Huang to lead the negotiations and was acting as a consultant for the businessman, though was not expected to assume a role at the club had the bid been successful.