A state-backed Chinese group is on the verge of making a bid for Liverpool.
According to Sky News, the group are looking to make a bid for a stake in the club which would value it at around £700 million.
The company in question is called China Everbright and is a financial services conglomerate.
The timing of the news is curious – on Friday Tom Werner insisted that FSG would not relinquish control of the club, but might be will to sell a minority stake.
“We’ve said it before and I’d like to say it again: this club is not for sale,” said Werner.
“Under the right conditions and absolutely with the right partner, we could look at some small investment stake in the club.
“But only in the framework of doing what would be in the club’s long-term best interests. I want to reiterate that the club is not for sale.” (via Echo).
The Sky News articles reports that China Everbright – who are listed on the Hong Kong and Shanghai stock exchanges – want a “substantial” stake in the club.
The report claims, however, that insiders have said it will be structured as a joint venture or partnership rather than an outright takeover.