Kenny Huang withdraws bid to buy Liverpool FC
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Chinese businessman Kenny Huang on Friday ruled himself out of the running to buy English Premier League club Liverpool.
Huang said in a statement that he and his Hong Kong-based investment company QSL Sports were pulling out of takeover talks with the Anfield club without giving the reasons behind the decision.
"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," Huang said.
"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 fanbase in Asia would also have been of benefit to all. We regret that we will not have the opportunity to implement this strategy."
He added: "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."