Liverpool Chinese takeover: Reds chiefs deny approach over £700million buy-out of club

LIVERPOOL chiefs have snubbed a £700million takeover offer from a Chinese investment group.

report state-backed SinoFortone have been trying to buy the Reds since March.

But Kop owners Fenway Sports Group are not interested in selling and apparently ignored the offer.

SinoFortone has invested £5.2billion in the UK over the last year in projects such as a theme park, Crossrail 2 and power stations.

They have looked into building a new stadium despite redevelopment work on Anfield, improving the Melwood training ground and setting up several academies in China.

But  John W Henry and his fellow executives believe they are on course to build something special on Merseyside.

Jurgen Klopp is about to enter his first full season as Liverpool boss and there is a growing sense of excitement at the club.

The German boss reached the Europa League final in May and despite defeat against Sevilla, Kop chiefs are optimistic they can land silverware soon.

SinoFortone may be interested in a partial investment instead of  a full takeover but no talks have been held.

Chinese President Xi Jinping - a huge football fan - visited Britain last year and during the trip, SinoFortone put £2bn into two eco-parks in Wales.

Another project is the London Paramount Entertainment Resort, which is due to open in Kent in 2021.

Liverpool has the oldest Chinese community in Europe which, combined with the club's history, makes in an attractive offer.

Chinese businessman Dr Tony Xia - who also has links to the Chinese government - recently completed a £76m takeover of Championship outfit Aston Villa.

The Villans are the first English club under Chinese ownership and there may be more to follow.

As well as spending heavily in attracting top talent to the Chinese League, several European sides have been targeted.

Suning Holdings Group took over Italian giants Inter Milan earlier this month.