The BBC has reported that Lim, a stockbroker and one of Singapore’s wealthiest men, held advanced talks with Liverpool chairman Martin Broughton about buying out current owners Tom Hicks and George Gillett. Lim was left frustrated, though, after Broughton agreed a £300 million deal with New England Sports Ventures (NESV) last week.
However, such is the uncertainty surrounding Liverpool’s future (the club’s owners will face their chief creditors Royal Bank of Scotland in the High Court on Tuesday) Lim believes his chances of a successful takeover remain alive.
Reports have claimed that Lim, like NESV, is offering to repay all of £200m of long-term debt, to take on £60m of other debt and to inject £40m of working capital. He has also claimed that this capital would come from his own fortune, rather than through borrowing.
Like every Liverpool fan, Lim will be keeping a close eye on events in the High Court on Tuesday, with the case between Hicks and RBS likely to decide his next move.
The RBS action, which will be heard at 10.30am by Mr Justice Floyd at the Royal Courts of Justice on The Strand, is separate from a “declaratory judgment” being sought by Broughton to approve the sale.
Broughton said last week that the co-owners are in breach of undertakings that allowed him to appoint the board, and required them not to block any “reasonable” sale.
As these undertakings were made to RBS rather than the club however the bank will test them legally first before Broughton begins his action. In a statement RBS made it clear that its legal action is not an attempt to call in £237m of loans that become due on Friday, or to appoint an administrator.