Liverpool's future still looked uncertain last night after one potential investor denied an interest and the financial backing of another was called into question.
According to British media reports, as many as six potential parties are looking to buy the 18-time English champions who were put up for sale by Tom Hicks and George Gillett, the club's American owners, in April.
One of those is Kenny Huang, the Chinese-born American businessman, who said on Wednesday that he was interested in investing in the Premier League club but had not launched a formal bid.
A source close to Huang said on Monday that talks to buy Liverpool's £237 million (Dh1.837billion) debt with major creditor Royal Bank of Scotland (RBS) were underway as a first step towards acquiring control of the club.
RBS denied any talks on a sale and said all approaches would be forwarded to Barclays Capital, which has been instructed to find a buyer for the club.
The Times newspaper said yesterday that China's sovereign wealth fund, China Investment Corporation (CIC), would back a Huang bid.
However, the Financial Times has since reported CIC as saying it had never heard of a plan to buy Liverpool or of Huang. Huang would not comment yesterday.
CIC was set up in 2007 with the aim of seeking higher returns for part of the country's huge stockpile of foreign exchange reserves, which stood at US$2.39 trillion (Dh8.78tn) at the end of 2009. It had invested $110bn up until May this year, taking its assets under management to about $300bn.
In other takeover news, Sam Allardyce plans to ignore all the talk of new owners taking over at Blackburn Rovers.
With the Jack Walker Trustees unable to bankroll the Ewood Park team in the manner of old and debts now hitting £20m, the hunt is on for a wealthy backer to help preserve the club's top flight status.
The latest name to emerge is Ahasan Ali Syed, the Indian businessman, who is said to have a £300m war chest with which to buy the club, pay off the Lancashire club's debts and invest in the transfer market.
There has been no official confirmation a bid is about to be lodged and John Williams, the chairman, has already made it perfectly clear any deal would have to be in the club's best interests.
So, with the new Premier League season just over a week away, Allardyce sees little point in getting carried away.
"We do know there's an interest there but it will only excite me when John rings up and says it's done," Allardyce said.
"Until somebody actually fronts up with the right sort of money we will go with what we have."
The taxman yesterday lost a bid to block proposals to help Portsmouth, the club relegated from the Premier League last season, out of administration.
HM Revenue and Customs was seeking an order blocking a proposed Company Voluntary Agreement (CVA) put together by the club's administrators to help it out of administration. But yesterday the High Court ruled in favour of the administrators.
Mr Justice Mann said: "I propose to find in favour of the company administrators and dismiss the application of HMRC."
The judge said the proposed CVA would stand.
* PA
Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Company Profile
Company name: NutriCal
Started: 2019
Founder: Soniya Ashar
Based: Dubai
Industry: Food Technology
Initial investment: Self-funded undisclosed amount
Future plan: Looking to raise fresh capital and expand in Saudi Arabia
Total Clients: Over 50
The specs: 2018 Mercedes-Benz E 300 Cabriolet
Price, base / as tested: Dh275,250 / Dh328,465
Engine: 2.0-litre four-cylinder
Power: 245hp @ 5,500rpm
Torque: 370Nm @ 1,300rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.0L / 100km
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
The Kingfisher Secret
Anonymous, Penguin Books
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
UAE Rugby finals day
Games being played at The Sevens, Dubai
2pm, UAE Conference final
Dubai Tigers v Al Ain Amblers
4pm, UAE Premiership final
Abu Dhabi Harlequins v Jebel Ali Dragons
UAE currency: the story behind the money in your pockets
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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SQUADS
Pakistan: Sarfraz Ahmed (capt), Azhar Ali, Shan Masood, Sami Aslam, Babar Azam, Asad Shafiq, Haris Sohail, Usman Salahuddin, Yasir Shah, Mohammad Asghar, Bilal Asif, Mir Hamza, Mohammad Amir, Hasan Ali, Mohammad Abbas, Wahab Riaz
Sri Lanka: Dinesh Chandimal (capt), Lahiru Thirimanne (vice-capt), Dimuth Karunaratne, Kaushal Silva, Kusal Mendis, Sadeera Samarawickrama, Roshen Silva, Niroshan Dickwella, Rangana Herath, Lakshan Sandakan, Dilruwan Perera, Suranga Lakmal, Nuwan Pradeep, Vishwa Fernando, Lahiru Gamage
Umpires: Ian Gould (ENG) and Nigel Llong (ENG)
TV umpire: Richard Kettleborough (ENG)
ICC match referee: Andy Pycroft (ZIM)
Company%20Profile
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