Hong Kong-based businessman Kenny Huang has withdrawn his interest in acquiring Liverpool Football Club (LFC) amid claims he is unhappy with how long the process was taking.

In a statement issued on 20 August, Huang announced that he had informed club chair Martin Broughton that he and his company QSL Sports had pulled out of discussions over a possible takeover. Huang said: "We concluded that a plan that property capitalises the business and provide funds for a new stadium and player-related costs would allow Liverpool to provide its great fans with the success they deserve.

"Our strategy and unique ability to expand the fan base in Asia would have been of benefit to all. We regret we will not have the opportunity to implement this strategy." Meanwhile, it has been announced that npower Championship club Crystal Palace Football Club (CPFC) has exited administration after its new owners took over the club's Football League share.

Brendan Guilfoyle of the P & A Partnership was named joint administrator of CPFC in January, but said that the rescue process is now complete with the acceptance of new owners CPFC Limited, led by Steve Parish and Martin Long. Guilfoyle said: "The new club can now go forward, with the embargo on player transfers lifted and no further points deducted - all welcome developments at the beginning of the new season."