According to the Independent, Chinese government-backed group SinoFortone is looking to purchase Liverpool FC for £700m.

Last October, SinoFortone announced plans to invest some £5.2 billion in new projects in the UK. That includes £2 billion in Orthios Eco Parks to develop waste power stations in Wales. The group is also investing in the development of an amusement park in Kent.

As stated in a recent report, SinoFortone have already investigated the possibility of building a new stadium in the dockland area of Liverpool. Additionally, they plan to redevelop the club’s training ground at Melwood and set up a series of football academies across China.

The Independent adds that the club’s current owner Fenway Sports Group (FSG) have known about the proposal since March, but they have no plans to sell the club. Recently, Liverpool have denied reports that the club has received an offer of a Chinese takeover. SinoFortone have not commented on the story.

Source: express.co.uk

Proofread by Sean O Diobhilin