Kenny Huang linked to Liverpool takeover

[ChunkyMonkey]

I will also be amazed if any deal is done before sept 1st even if a deal was agreed tomorrow morning.

 

Agree totally. All this brash talk of a deal within days or even weeks seems optimistic to say the least. I know nothing of the ins and outs of conducting such a deal but I doubt it's even possible to do a deal in the timescales that have been talked about.

 

If someone here knows about such transactions, how fast do you believe something like this could happen if all parties, in a best-case scenario, are pulling in the same direction?

[KinskiRage]

Mentioned in the Guardian article: "Huang, who is partnered by one of the biggest sovereign wealth funds in the Far East, is determined to seize control before the transfer window closes at the end of the month, according to the Times."

 

 

Here's a list of largest Sovereign Wealth Funds in the world:

 

Country Abbreviation Fund Assets $Billion Inception Origin

 

United Arab Emirates Abu Dhabi ADIA Abu Dhabi Investment Authority 627 1976 Oil

Norway GPF Government Pension Fund - Global 443 1990 Oil

Saudi Arabia SAMA SAMA Foreign Holdings 415 n/a Oil

China SAFE SAFE Investment Company 347.1** Non-commodity

China CIC China Investment Corporation 288.8 2007 Non-commodity

Singapore GIC Government of Singapore Investment Corporation 247.5 1981 Non-commodity

China / Hong Kong HKMA Hong Kong Monetary Authority Investment Portfolio 227.6 1993 Non-commodity

Kuwait KIA Kuwait Investment Authority 202.8 1953 Oil

China NSSF National Social Security Fund 146.5 2000 Non-commodity

Russia RNWF National Welfare Fund 142.5* 2008 Oil

Singapore TH Temasek Holdings 133 1974 Non-commodity

 

200, 300 Billion?? If he is backed by one of these funds then it looks a hell of a lot healthier than most. Just speculating and haven't a clue how it all works, obviously.

[Malarkey]

If he had that much money he'd buy LFC outright. Not fanny around with RBS.

 

I disagree with some people on here. I think Cancer and AIDS are being ganged up on big time. And the way they're bringing random close knit businessmen in to stall the offer until the transfer window closes proves this.

 

I'd do dirty, unforgivable things for them two to leave this club out of pocket.

[Jose Jones]

If he had that much money he'd buy LFC outright. Not fanny around with RBS.

 

I disagree with some people on here. I think Cancer and AIDS are being ganged up on big time. And the way they're bringing random close knit businessmen in to stall the offer until the transfer window closes proves this.

 

I'd do dirty, unforgivable things for them two to leave this club out of pocket.

 

That’s a bit stupid talk if you ask me!

Anyone who buys the club is going to see it as an investment – hopefully for us a long term investment.

So they are going to be looking to buy the club at the best price possible. Especially if they want to build a new ground.

[KinskiRage]

That’s a bit stupid talk if you ask me!

Anyone who buys the club is going to see it as an investment – hopefully for us a long term investment.

So they are going to be looking to buy the club at the best price possible. Especially if they want to build a new ground.

 

Right. Any businessman would probably never overpay for an asset as a point of principle. Plus, handing a large profit to the two scumbags might not go down well with the fans (might be stretching it a bit to suggest they've taken that on board, but still).

[Malarkey]

All that I meant Is that if you are backed by a near 200 Billion fortune, 600 Million isn't even a drop in the ocean.

 

I'm not bothered, I just hope them two get taken for a ride for the shit they've put this club through.

[Steve Holt]

Mentioned in the Guardian article: "Huang, who is partnered by one of the biggest sovereign wealth funds in the Far East, is determined to seize control before the transfer window closes at the end of the month, according to the Times."

 

 

Here's a list of largest Sovereign Wealth Funds in the world:

 

Country Abbreviation Fund Assets $Billion Inception Origin

 

China CIC China Investment Corporation 288.8 2007 Non-commodity[/b]

 

 

200, 300 Billion?? If he is backed by one of these funds then it looks a hell of a lot healthier than most. Just speculating and haven't a clue how it all works, obviously.

 

That's the one he is said to be backed by.

[Jose Jones]

All that I meant Is that if you are backed by a near 200 Billion fortune, 600 Million isn't even a drop in the ocean.

 

I'm not bothered, I just hope them two get taken for a ride for the shit they've put this club through.

 

The last couple of things Broughton has said leads me to think that Hicks and Gillett are looking to keep a stake just in case the people they sell the club to actually do a decent job and raise the value of the club. If there are a few bidders it may mean the ones we do get may be the ones most willing to keep G&H in the game. I wouldn’t be overly surprised if G&H are still minor share holders by the time any sale is done.

[KinskiRage]

That's the one he is said to be backed by.

 

Okay. Woah. Thought it might be Temasek Holdings, as they apparently own 20% of Standard Chartered. But that CIC one looks boss.

 

Usually I'm nonplussed by these rumours, but this time I'm actually getting optimistic, which of course is dangerous and inadvisable.

[kanban333]

Yes, i agree, after what i've read recently from Broughton i believe they have headed him off at the pass so to speak, the "RBS bids get re-directed to us" sounds like a counter-measure to me.

I'm expecting Kenny to fail unfortunately as i think his press release is a desperation act but these are just my views but i really hope i'm wrong.

I'd love to know what Broughton's brief is regards his parameters for selling, it's obviously the crux of what we are all hoping & wishing for but alas, money men aren't fans even if they pretend to be.

I still fear the "Biggest Offer" solution, regardless of the "Doing The Best For The Club"

I pray for the latter.

[Jose Jones]

Yes, i agree, after what i've read recently from Broughton i believe they have headed him off at the pass so to speak, the "RBS bids get re-directed to us" sounds like a counter-measure to me.

I'm expecting Kenny to fail unfortunately as i think his press release is a desperation act but these are just my views but i really hope i'm wrong.

I'd love to know what Broughton's brief is regards his parameters for selling, it's obviously the crux of what we are all hoping & wishing for but alas, money men aren't fans even if they pretend to be.

I still fear the "Biggest Offer" solution, regardless of the "Doing The Best For The Club"

I pray for the latter.

 

It’s never going to be “doing the best for the club” it’s going to be “doing the best for the owners and creditors”.

If we’re extremely lucky those two might align.

[kanban333]

I agree Jose, this is what i mean by Broughton's brief regards his parameters,as long as all the creditors are paid in full, is this the main criterior as apposed to making profit for the twats ? Does he really have a say in what is the " Best Deal"

[WaltonRed]

Tony B's very quiet on this

[kanban333]

Tony B's very quiet on this

 

Meaning he probably knows nothing else ? Bit of a media lock-down i reckon since Kenny's latest outburst ?

[The Special One]

Can I just go off-topic and mention how SHIT it feels knowing there are men out there throwing around hundred of millions while I'm saving up every penny to buy a phone for myself? Just sayin'. Carry on.

[Jose Jones]

I agree Jose, this is what i mean by Broughton's brief regards his parameters,as long as all the creditors are paid in full, is this the main criterior as apposed to making profit for the twats ? Does he really have a say in what is the " Best Deal"

 

Going by Broughton’s quotes posted by Red Knight earlier:

 

"It still remains the objective to conclude a deal before the end of the transfer window," Broughton told the Guardian tonight. "That remains the objective but there are no deadlines, and we will continue working to complete the process."

 

Broughton conceded that 31 August is "a very important date" for fans and some Liverpool players. Torres is highly coveted – both Manchester City and Chelsea are reportedly on alert – but such is the Spaniard's stature that his departure would affect the valuation of the club in one bidder's case, at least.

 

The apparent existence of multiple bidders means that the club's US co-owners, George Gillett and Tom Hicks, could end up making a significant profit from their controversial three-year tenure at Anfield. However, the pair will not have the final say in who may take over.

 

"There could be a possible realisation of an equity consideration," Broughton said. "But both George Gillett and Tom Hicks remain on the board and they have given commitments that the board of Kop Holdings [Liverpool's UK parent] is the party that is responsible for the sale."

 

There had been suggestions that Huang would seek to acquire the debt from Liverpool's principal lender, Royal Bank of Scotland, in an effort to gain financial control over the club. However, Broughton insisted that is not the case.

 

"Any bids that go straight to RBS – and there have been several – come to me and are directed to Barcap," Broughton said. "RBS are not involved. The control remains with the board."

 

So the control of the sale, who buys the club and for how much is decided by the board of Kop Holdings, while G&H have given commitments that the board can go ahead with the sale – who knows what those commitments are?

 

The members of the board of Kop Holdings I believe are: Broughton as Chairman, Tom Hicks, George Gillett, Foster Gillett, Casey Koffman, Christian Purslow, Ian Ayre and Philip Nash. At least that was the case after StevieH helped get rid of Hicks Jr earlier on in the year.

 

I’m also not sure what proportion of the board need to support a sale for it to go ahead, is it a unanimous vote, or majority?

[Unrighteous]

So, any chance the yanks will off themselves, yet?

[Chinandeler Bong]

Something I find intriguing is the fact that Mr Airways said that any stories in the press should not be taken seriously , and that this would not be done via the media and the first we will hear of news will be on completion, yet here he is talking to the Guardian.

 

Strange.

[Jose Jones]

So the control of the sale, who buys the club and for how much is decided by the board of Kop Holdings, while G&H have given commitments that the board can go ahead with the sale – who knows what those commitments are?

 

The members of the board of Kop Holdings I believe are: Broughton as Chairman, Tom Hicks, George Gillett, Foster Gillett, Casey Koffman, Christian Purslow, Ian Ayre and Philip Nash. At least that was the case after StevieH helped get rid of Hicks Jr earlier on in the year.

 

I’m also not sure what proportion of the board need to support a sale for it to go ahead, is it a unanimous vote, or majority?

 

Sort of replying to myself here, but also kanban’s post, looking at the board members and their probable motives when going through the sale process:

 

Broughton – to complete a sale of the club whilst pulling in a nice big bonus and come out looking good having been able to successfully manage such a process with obstructionist twats.

 

Tom Hicks & Casey Koffman – to get as much money for Tom Hicks as possible

 

George Gillett & Foster Gillett - to get as much money for George Gillett as possible

 

Ian Ayre & Philip Nash – probably want to keep their jobs at the club so would be looking for stable owners wanting to keep the current management team in place

 

Christian Purslow – bit more of an unknown quantity. Has been G&H’s man running the club, facilitating the pillaging of funds to pay the owners debts, so may just look after their concerns in getting cashed up. Could have an eye on keeping his position long term though, going by recent actions, in which case we may get the Parry scenario where he’ll support buyers willing to keep him in place despite the ties to the previous regime.

[seven of eleven]

Liverpool’s suitor Kenny Huang ‘doesn’t have the money’ to buy the club himselfBy Nick Harris

 

2 August 2010

 

A reported approach by a Chinese businessman, Jian-hua ‘Kenny’ Huang, to buy Liverpool is shrouded in confusion as sources in China and America have told sportingintelligence that he does not have the money to buy the club, that he declined to sign a confidentiality clause requested of all interested parties, and that “it is simply not plausible” that he can effectively strike a deal with RBS bank in order to take control.

 

Some reports have claimed that Huang is a billionaire and that he owns a 15 per cent stake in the Cleveland Cavaliers NBA basketball franchise.

 

In fact he is not a billionaire, and has never owned any shares in the Cavaliers, and there are no plans for him to own any in the future.

 

One source in China says: “Kenny has no capability of buying Liverpool.”

 

A different Chinese businessman, Albert Hung, made an offer to buy a stake in the Cavaliers more than a year ago, but even that deal hasn’t gone through.

 

“Kenny was never the main investor, nor in fact did he ever have any personal financial involvement in such a deal at all,” one source says.

 

Huang has a commercial connection with the Cavaliers as the middleman who introduced the Cavs to a beer company to do a sponsorship deal, but he has never owned any stake in any major sports franchise.

 

Huang owns a company in Hong Kong, QSL Sports Limited, which describes itself as a “sports investment company” but its simple website, which hasn’t been updated in several months, ceased working today, with users given the message: “The server is temporarily unable to service your request due to the site owner reaching his/her bandwidth limit.”

 

QSL Sports Limited’s main interests to date have been in promoting China’s second-tier semi-professional basketball league (the NBL), and in promoting a new Chinese youth league in baseball (CYBL); baseball is still a fledgling sport in the country.

 

Until May this year, QSL’s co-founder and primary financial backer was a bona fide billionaire businessman, Adrian Cheng, whose family have been ranked by Forbes as the 112th richest family in the world, worth $7.7bn.

 

But Cheng and Huang parted company two months ago and a QSL statement at the time said: “QSL co-founder Mr. Adrian Cheng will no longer be involved in QSL’s businesses and development and its related charitable foundations. QSL will now be 100 per cent owned by Mr. Kenny Huang.”

 

Skeptical sources in China claim that Huang only came to prominence as a front man for an unnamed wealthy Hong Kong family within the past couple of years and that he no longer has that association.

 

Sources in London with an understanding of what Kenny Huang apparently hopes to achieve at Liverpool say he has offered to effectively buy Liverpool’s debt of £237m from RBS, cutting out any involvement in a formal bidding process being handled by Barclays Capital under the direction of Liverpool’s chairman Martin Broughton.

 

Yet even those close to Huang cannot explain how buying the debt from RBS would definitely hand him or his backers control of the club. One RBS source described as “absolute bollocks” the idea that RBS would unilaterally sell Liverpool’s debt to Huang or had been involved in advanced talks to do so.

 

The club’s American owners, Tom Hicks and George Gillett, owe RBS £237m as a result of what was effectively their leveraged buyout, and the pair have also subsequently leant Liverpool another £144m via a Cayman Islands branch of their Liverpool investment vehicle, according to accounts for the financial year ending summer 2009.

 

It has been claimed that Huang has the backing of an unnamed Asian sovereign wealth fund, which if true could put billions at his disposal. The operative words are “if true”.

 

If an Asian sovereign wealth fund wanted to buy Liverpool, why would it not go via conventional channels, namely BarCap and Broughton?

 

Why would it use Huang as a front man, when he has no previous history of sports deals on the scale of a Premier League football club?

 

Why would it let him effectively manage its funds?

 

These are all questions that may or may not be answered in the coming weeks.

 

Liverpool insiders at the highest level insist there are multiple interested parties involved in talks about buying the club and that a preferred bidder should emerge in due course, perhaps within a few weeks.

 

Due diligence on any bidder, and their ability to take to club forward, specifically in funding a new 60,000-plus seat stadium that could cost up to £400m “is of the utmost importance, now more than ever” one source said.

 

“There is formal process and BarCap runs it,” said another source. “You cannot simply go to RBS or Wachovia or Bank of America and try to do a unilateral deal because it won’t work and it won’t stack up.

 

“Mr Huang did not want to sign a confidentiality agreement and you have to ask why.”

 

A source who knows Huang well said: “Kenny is good at making deals, as in facilitating deals for other people. He would certainly be capable of bringing people together. But Kenny is also very, very good at promoting Kenny.”

 

 

 

source : Liverpool’s suitor Kenny Huang ‘doesn’t have the money’ to buy the club himself « Sporting Intelligence

[Woo]

Hope my boy Kenny takes over.

 

We'll win the league, and have prawn toast and singapore vermicelli served at Anfield.

 

WIN/WIN!!!!!

[4mins 33secs]

I dont know. It just seems a bit coincidental that this is leaked just as we are trying to keep hold of our prized assetts (stevie and nando). is this just a ploy to keep them at anfield late into the transfer window leaving no time for them to move on, then when the window shuts this story just dissapears ?

I may be a cynical old git, but weve had our hopes raised many times in the last few years only for them to be dashed.

Dont hold you breath people, those cancerous cunts may be around for a while yet.

According to SSN this morning , Broughton is saying the club could be sold by the end of the month.........i could be correct here for a change.

[Rick Sanchez C-137]

All that I meant Is that if you are backed by a near 200 Billion fortune, 600 Million isn't even a drop in the ocean.

 

I'm not bothered, I just hope them two get taken for a ride for the shit they've put this club through.

 

So? If you were rich would you just pay more than things are worth just because you could afford it? No matter how much they have this is business and they are goin to try and get in as cheap as possible.

[RedinSweden]

Hicks and Gillett given just 11 days to accept Chinese bid - Premier League, Football - The Independent

 

Hicks and Gillett given just 11 days to accept Chinese bid

Banks set deadline for Liverpool owners to accept deal even if it leaves them in the red

 

By Ian Herbert

Tuesday, 3 August 2010

 

 

Liverpool have 11 days to consider the take-it-or-leave it offer for the club made by the Chinese businessman who says he is backed by sovereign funds, although doubts remain about whether this bid, or one of as many as five others, will be successful, with the club's investment bankers indicating a preferred bid will be selected by next week.

 

Some critical details of Kenny Huang's bid remain vague, including the precise nature of the Chinese state-owned investment funds which sources close to him claim will deliver the money. It is also unclear whether the trenchant opposition from Liverpool co-owner George Gillett, which is probably shared by his partner at Anfield, Tom Hicks – Huang's bid which could see them make a loss on their initial investment in the club – will prevent the Liverpool board from sanctioning them.

 

But the club's non-executive chairman Martin Broughton and investment bank Barclays Capital, who are leading the sale of Liverpool, do consider the bid to be credible. Mr Huang has imposed a deadline of Friday-week because he and his backers want enough time to give Roy Hodgson money to spend in the summer transfer market before it closes on 1 September.

 

It appears Broughton believes he can drive through a deal in the face of opposition from Hicks and Gillett. Having taken up his position on the understanding that a three-man majority on the Liverpool board would be enough to see Hicks and Gillett voted down, it remains unclear whether he has some duty to the Americans who hired him. Broughton, Hicks, Gillett, Liverpool managing director Christian Purslow and commercial director Ian Ayre each have a vote.

 

The bid, which would see the Chinese guaranteeing the £237m debt built up by the Americans, is certainly a serious one, although Liverpool's owners will bitterly resist a bid which would see them taking nothing from the club, despite their own £130m investment. The fact there are multiple bids under consideration reveals that the end-game has arrived for Hicks and Gillett. Broughton feels his duty is to the club rather than the owners and will not necessarily go for the highest offer, as the sale of the club to owners who ultimately prove unreliable would damage his reputation. It remains unclear whether Broughton, who will leave when a sale is completed, will be rewarded financially by the Americans for the size of the bid he agrees to.

 

The club's bankers, Royal Bank of Scotland, have said they are not in direct negotiations with Huang over the purchase of the club and that any bid would be referred to Liverpool, though Huang's representatives suggested that he had bypassed the Liverpool bidding process by going directly to the bank with what for Hicks and Gillett is effectively a hostile bid. In a day of denial and counter-denial, it emerged that it is a contest which is under way to become the club's preferred bidder, rather than a one-horse race for Mr Huang. Mystery surrounds the Chinese businessman's track record. He did not, as has been suggested, take a share in the Cleveland Cavaliers National Basketball Association last year.

 

But his representatives said he was keen to do a deal quickly to secure investment before the transfer window closes and then turn his attention to finally getting Liverpool's new 60,000-seat stadium built in Stanley Park after three years of inertia. "He wants to get it done quickly so investment can come this summer," said a source close to the bid. "Liverpool need investment in the playing squad and infrastructure and Huang wants to build the stadium. The club has an outstanding reputation but does not have the infrastructure to keep with it."

 

Whether or not Huang's bid proves successful, the timing of his disclosures has certainly been effective, providing a sense of movement on the ownership stalemate on the very day Fernando Torres returned to training following his summer break. Torres declared last season that Liverpool need 'four or five' new players and the movement at the club suggests there may be funds available. Securing a deal before the transfer window closes may not be straightforward, though, as the time between agreement to an individual offer and completion can be weeks.

[Dr Arthur De Sabre]

Sounds like he's trying for a quick takeaway - thought that was just for fridays