A Chinese businessman, who has a small ownership in the Cleveland Cavaliers, has offered to take on Liverpool’s $347 million dollar debt from an English bank and win control of the club from owners Tom Hicks and George Gillett Jr. It’s no mystery that the running of the club by Hicks and Gillett has not won the hearts of the fans.

Kenny Huang, a former New York Stock Exchange guy, and current director and co-founder of SportsCorp. China the exclusive marketing partner for the New York Yankees in China is the man behind the mission. Purchasing the debt would not give Huang ownership of the team over Hicks and Gillett…………… but it really would.

Hicks and Gillett bought the club for $431 million in a leveraged takeover in February 2007 and despite impressive profiting the year before, lost about $25 million that year. Liverpool continues to struggle to regain the profitability they once had., but is still valued at over $900 mil.  Hicks and Gillette promised a new stadium a year ago to compete with Manchester United and Arsenal, but that has failed to come to fruition because of the global economic crisis.

Liverpool would certainly invite the possibility of Huang stepping in. Not only would it eliminate their debt, it would give them greater transfer opportunities, and potentially a real shot at a new stadium. It would be the shot in the arm the Reds need. It’s crucial that this situation does not become a distraction, or interfere with Liverpool’s performance this upcoming season. I’m not sure anything can save Hicks and Gillett from the Liverpool fans, but this could provide serious help.