Liverpool may soon be owned by the Chinese government
George Gillet and Tom Hicks want to unload their shares in Liverpool FC, and a little-known Chinese entrepreneur has emerged as a frontrunner in the race to snap up the shares. Kenny Huang has yet to make a formal offer, but expressed interest in the club earlier this week. It has now emerged that Huang is fronting a bid by the China Investment Corporation, the overseas investment arm of the Chinese government. Any new buyer must be cleared by the Premier League, and Premier League CEO Richard Scudamore foresees no problem should the CIC win the takeover bid. It wouldn't be the first time that a top-flight team in the Premier League was owned by a foreign state. Manchester City was sold in 2008 to Sheikh Mansour of Abu Dhabi. Read more: The Telegraph, Sky Sports and Goal.com
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