Chinese businessman Kenny Huang and CIC - the country's largest sovereign wealth fund - appear not to be bidding for Liverpool FC. 

China Investment Corp told the media that it appears any reports linking them with a bid to takeover Liverpool FC are unfounded.  The sovereign wealth fund was touted as a backer for Kenny Huang who later announced himself that he was not interested in the bid.

"There has been much speculation and commentary from a wide array of people, many of whom have little knowledge of facts." said Huang himself, "We would suggest such comments should be given little credence."

The reports that CIC, which has around £332 billion of assets under management, is involved was in the media today across the Times and BBC, however these reports have now appeared far from the truth.

"Next they'll say that CIC is about to buy Playboy." said a source to the FT.

The latest reports could be a result of growing speculation that Middle-East businessman Yahya Kirdi is close to having a formal offer accepted:

"Agreement has been reached on all major terms, including the purchase price, repayment of the existing bank debt from RBS and WElls Fargo and financing of a new stadium in Stanley Park." said Yahya Kirdi who represents a group of investors from the Middle East and Canada.

Reports have also linked a New York based Rhone Group who had a £110m offer for a stake rejected earlier this year.