Chinese businessman Kenny Huang has ended his interest in buying Liverpool Football Club, telling a media outlet on Thursday that he had "completely abandoned" any plans to buy the club

Huang had last week ruled out a possible takeover of the Premier League club, although some spectators believed his withdrawal was a way of putting himself in a good position to negotiate for a lower price.

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But on Thursday, Huang told Sky Sports News that he has ended his interest in buying the club - although he revealed he could be interested in purchasing another Premier League side.

Liverpool's hopes of a takeover were given a boost earlier this week after Keith Harris revealed that an overseas buyer has completed due diligence and make an offer of up to £500million for the club.

Liverpool's American co-owners Tom Hicks and George Gillette have seen several possible takeover deals fall through in recent weeks as previous hopes of a deal going through before the end of this month all but disappeared, ruling out the opportunity for Reds manager Roy Hodgson to be given a windfall to strengthen his squad before the transfer window closes on Tuesday.

Harris, who previously has been involved with takeover deals at Manchester United and Aston Villa, revealed that due diligence has already been done with a previously unknown party, who are now considering an offer between £400m and £500m.

"The overseas buyer we represent has completed due diligence," said Harris on Tuesday. "A huge amount of work has been done.

"It is none of the groups mentioned in the press. The ball is now in our client's court to make an offer.

"I do not think the deal will be done before the transfer window closes this month, but the next pressure point is October when some of the RBS loan of £237million has to be repaid.

"It may happen then. But in the present climate these things are impossible to predict."

Earlier this month, Liverpool managing director Christan Purslow admitted the Premier League club needed new owners "as soon as possible" but insisted the club would not be rushed into a deal.

Purslow told BBC Radio 5 Live: "We have had a number of bids [and] will take time to examine those extremely carefully.

"I am not going to put a time limit on it. The challenge now is to sort the wheat from the chaff."

Prior to those comments, Huang had stated that he believed his consortium had a "50 per cent" chance of buying the Anfield club before he ruled out a bid, stating: "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.

"We concluded that a plan that properly capitalises the business and provides funds for a new stadium and player related costs would allow Liverpool FC to provide its great fans with the success they deserve.

"Our strategy and unique ability to expand the fanbase in Asia would also have been of benefit to all.

"We regret that we will not have the opportunity to implement this strategy."

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