Despite Liverpool already being two games into their competitive season, media attention at the club has focused on the continuing ownership saga.

There have been reports all this week that a Chinese businessman, backed by a government-linked fund, is set to make a formal bid to buy-out the club’s despised American co-owners Tom Hicks and George Gillett.

However, as the week has progressed, the true picture surrounding the sale process has become complicated.

Meanwhile, Liverpool, under new manager Roy Hodgson, eased past Macedonians Rabotnicki Skopje in the Europa League third qualifying round with home and away 2-0 wins and have been drawn against Turkish side Trabzonspor in the play-off round.

 

There was good news too on the player front as star striker Fernando Torres confirmed that his near future would be at Anfield.

Hong Kong-Chinese businessman Kenny Huang has been the public face of the highest-profile of the six reported current bidders for Liverpool.

The former Wall Street stockbroker was said to be backed by the Chinese state-funded China Investment Corporation (CIC), the “investment arm” of the Beijing government and reportedly one of the largest “sovereign wealth funds” in the Far East.

However, Syrian businessman Yahya Kirdi, who has been linked with the club since chairman Martin Broughton was brought in to facilitate the sale process in April, is claiming that his “consortium” is in “the final stages of negotiation.”

And there are a further four interested parties, including the New York-based Rhone Group who unsuccessfully bid £100m for 25% of the club in the spring.

Hicks’ asking price of £800m is considered laughably optimistic by business analysts. The Texan, whose general sports empire is under severe financial pressure, believes that future operating profits from the long-awaited new stadium at Stanley Park should be factored into the price.

However, Broughton is believed to be prepared to accept a more realistic price of around half that figure, in order to push through a sale before the transfer window shuts at the end of the month.

Huang/CIC remained favourites with most observers, even though CIC themselves had attempted to cool speculation considerably.

And Huang has now presented a formal outline takeover proposal, which promises to pay off Liverpool’s debts, build the new stadium, and providing the usual transfer millions.

Liverpool’s major transfer coup of the summer to date has been the acquisition of England midfielder Joe Cole on a free transfer from Chelsea, who refused to offer him a new contract when his old one ran out during the World Cup.

Cole made his competitive debut in the home leg against Robotnicki and impressed most observers with his creative partnership with captain and talisman Steven Gerrard.

French striker David Ngog scored three of Liverpool’s four goals, the other being a Gerrard penalty, his 35^th goal in European competition for Liverpool.

Trabzonspor also met Liverpool in the 1976/77 European Cup, winning the first leg 1-0 before losing the Anfield return 3-0. Liverpool won the first of their five European Cup triumphs that season.