Liverpool FC turn down Chinese billionaire’s takeover bid

Liverpool FC owner Fenway Sports Group has turned down a takeover bid from Chinese billionaire Liu Yiqian.

According to The Sunday Times, Fenway received an unsolicited offer for the club from Liu Yiqian, one of the richest men in China and the chairman of Shanghai-based investment company Sunline Group.

While the bid, received via email, was reportedly under value, Fenway is understood to have no intention of selling Liverpool.

In the Times report, an unnamed LFC source said: “We did not respond because the club is not for sale”.

Mr Liu, believed to be the 47th richest man in China, made headlines in November last year when he paid a record £131.6m at auction for a work of art by Italian painter Amedeo Modigliani.

The bid’s rejection signals Fenway owner John Henry’s commitment to LFC, according to football news site 90min.

Since taking over the Reds in 2010, Fenway Sports Group has ploughed £114m into expanding Anfield Stadium. The first phase of the development is due for completion in the New Year.

The expansion, which will increase Anfield’s capacity by 8,500 seats, will drive the club’s revenues up by around £25m per season.

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