HONG KONG businessman Kenny Huang has withdrawn his interest in buying Liverpool. Huang issued a statement last night 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 Merseysiders from Americans Tom Hicks and George Gillett, but refused to comment when it was claimed his bid was backed by the Chinese government. The statement presented no reason for Huang’s decision to pull out of negotiations.

Huang said: “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.

“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 also have been 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.”

It was reported earlier this week that Huang was growing impatient with the Anfield board, who are carrying out due diligence on a number of bids received.

Huang’s bid to buy Liverpool is thought to have valued the club at around €400 million. His decision to go public with his bid was followed by another declaration of interest from a consortium fronted by Syrian businessman Yahya Kirdi.

Liverpool were put up for sale by Hicks and Gillett in April with debts of €430 million. The Royal Bank of Scotland, their largest creditor, are thought to be owed around €290 million with a penalty fee of €73 million due if it is not repaid by October 6th.