Sahara India Group has pulled out of the race to buy a 51 per cent stake in the financially troubled Liverpool Football Club, one of the most successful clubs in the history of English soccer.
In a statement, Sahara India Pariwar said they have decided to withdraw their bid for the acquisition of Anfield-based legendary English Premier League club.
"The deal for acquisition of the Liverpool Football Club was in our consideration in the recent past. However, after considering all related factors, we have decided not to go ahead with it, at least for the time being," said Abhijit Sarkar, Head, Corporate Communications, Sahara India Pariwar.
The battle for control of the Liverpool Football Club had recently intensified with reports suggesting that Indian billionaires Mukesh Ambani and Subrata Roy have jumped into the fray along with a Chinese financial speculator to buy a majority of stake in the club.
According to British media reports earlier, as many as six potential parties were looking to buy the 18-times English champions.
Liverpool FC is one of England's most successful football clubs and are in urgent need of a financial bailout. Subrata Roy owned Sahara Group has been a long-time sponsor of the Indian cricket team.
They are also a sponsor of the Indian hockey team and an owner of one of the two new teams inducted into the Indian Premier League -- Pune Warriors.
Liverpool FC, founded in 1892 and popularly known as the 'Reds', are a professional football club who play in the English Premier League and are the most successful team in the history of English football, having won more trophies than any other club.
They have won a record eighteen league titles, seven FA Cups, seven League Cups, three UEFA Cups and five European Cups, an English record.