Premier League News: Daily Ticker: Aug. 21

Aug 02, 2010 - Liverpool, England, United Kingdom - China fund raises finance to match Liverpool asking price. China Investment Fund sold shares worth  351.4m. Sum is equivalent to Anfield club's debt. The Chinese fund represented by KENNY HUANG (minority shareholder of Cleveland Cavaliers) has spent the past fortnight raising precisely the amount of cash required to finance a bid for Liverpool. Sources have confirmed to Digger that the China Investment Corporation, the sovereign-wealth fund to the world's most populous nation, is the organisation being fronted by Huang, who yesterday admitted interest in bidding for Liverpool. In a series of trades since 19 July, CIC has sold $558m of shares in Morgan Stanley, equating to $374 million. That sum is equivalent to Liverpool's debt to the nearest decimal place, and is exactly the number insiders say has been quoted to interested parties as the sale price.

Huang Abandons Liverpool Bid

Kenny Huang has abandoned his bid to take over Liverpool FC on behalf of Chinese sports investment firm QSL, a source told The Guardian. Huang was long considered the only viable contender to take over the debt-riddled club.

Huang’s withdrawal is rumored to be because of frustrations with the pace of the takeover process. Rather than buying the club directly from current owners George Gillette and Tom Hicks for an inflated price, Huang appealed to the Royal Bank of Scotland, who holds Liverpool’s more than £250 pounds of debt.

“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, in a statement. “We concluded that a plan that properly capitalises the business and provides funds for a new stadium and player-related costs would allow Liverpool to provide its great fans with the success they deserve.”

Stephen Ireland Accuses Manchester City Of “Lack Of Loyalty”

Stephen Ireland has blasted former club Manchester City after the midfielder was sent to Aston Villa in a high-profile trade for James Milner. Ireland’s attacks ranged from City manager Roberto Mancini’s relationship with players to the “money obsessed” owners.

“I don’t think loyalty is much in anyone’s mind at Manchester City,” he said. “I felt like I would be next [to leave]. A lot of players felt like that as well – the homegrown guys,” said Ireland, who was awarded City’s “player of the year” in 2009 but saw his role diminished under Mancini.

The rift between the Italian manager and Ireland became apparant when Mancini publicly questioned Ireland’s work rate. “I think that was really unfair, all the players know I was the first player into training and the last to leave,” he said. “I worked the hardest. With all the heart-rate monitors and tests, I was always No1, far ahead of everyone. You see the performance in training and I was practically always the best player in training. If [Mancini’s] standing there watching that, I don’t know how he doesn’t see that,” said Ireland

Ireland finally had a few words of warning for the newly signed Milner. I can understand why James Milner has gone there but I can tell him that I’m very happy to leave there and come here. I guess [he] must think the grass is greener on the other side. He’s going to get a shock soon because it’s definitely not that way.”

Neymar Snubs Chelsea To Stay In Brazil

18-year-old Brazilian phenom has decided to stay in his home country and continue playing for Santos.

A heafty increase in his current contract and the addition of endorsement deals convinced the youngster to stay.


  1. toddmintz August 21, 2010
  2. MNUfan1991 August 21, 2010
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  3. Bruce in South Florida August 22, 2010

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