Singapore investor drops out of bidding

Singapore billionaire Peter Lim says he is not proceeding with his bid to buy Liverpool because the board is intent on selling to someone else.

Lim says the Liverpool board is determined to sell the club to New England Sports Ventures "at the exclusion of all other parties."

Lim says "in these circumstances, I am not able to proceed with my intention to acquire the club."

However, Lim says "if current events cause the circumstances to change, my interest in acquiring the club remains."

Lim originally matched the 300 million pounds ($476 million) bid by NESV, owners of the Boston Red Sox. Lim made an improved offer Tuesday of 320 million pounds and put forward an additional 40 million pounds for buying new players.