Sahara boss Subrata Roy, in conjunction with fellow Indian billionaire Mukesh Ambani, was linked with investing in the Merseysiders earlier this year.

However, their names were not among those considered to be serious contenders when the interest began to intensify in the last fortnight.

"The deal for the acquisition of Liverpool Football Club was in our consideration in the recent past," said head of corporate communications Abhijit Sarkar in a statement to Bloomberg.

"However, after considering all related factors, we have decided not to go ahead with it, at least for the time being."

Chinese businessman Kenny Huang and Syrian-Canadian Yahya Kirdi appear to be the two front runners, although New York-based investment firm the Rhone Group and Kuwaiti Al-Kharafi family have also been linked.

Liverpool have asked interested parties to submit formal proposals, including proof of funds and detailed plans for the construction of a new stadium in Stanley Park, by the end of this week.

The club are still hopeful of completing a deal before the end of the month to afford manager Roy Hodgson at least some time to take advantage of an open transfer window.

Chairman Martin Broughton is overseeing the sale, being run by Barclays Capital, and is conscious of the need to make the correct decision when it comes to a change of ownership.

Last month he stressed it was important to choose the most appropriate bid and not necessarily take the highest offer, at the same time confirming co-owners Tom Hicks and George Gillett could not block a sale to a particular party if it was deemed in the best interests of the club.

Broughton, managing director Christian Purslow and commercial director Ian Ayre make up the other members of the board and can out-vote the co-owners if there is no consensus on the best candidate.

Hicks and Gillett are not inclined to support the bid by Huang, as he has insisted there will be no profit for the Americans in his calculations over what the club is worth.

Instead they favour the option put forward by Kirdi, who last week claimed he was at an advanced stage with his negotiations, who is offering more than his Hong Kong-based rival.

Defender Jamie Carragher insists the ongoing uncertainty over the future ownership of the club was not affecting preparations for Sunday's Barclays Premier League opener at home to Arsenal.

"We haven't been told anything to be honest - it is to do with the people upstairs and I don't think we should get too involved," he said.

"Things like that our out of our hands. We just have to concentrate on doing our thing on the pitch."

The centre-back is getting used to the new regime at Anfield under Roy Hodgson and admits the club's first aim, having finished a disappointing seventh last season, is just to get back into the top four.

And having under-performed so badly, recording their worst league placing for over a decade, the 32-year-old is confident the Reds will bounce back in the coming campaign.

"With us being out of the Champions League the main aim is to get back in the top four," he told talkSPORT.

"If we do that we will have done well with the competition from the likes of Manchester City.

"But if we are up there things might change and we can look further.

"Tottenham did really well last season (finishing fourth) but you don't know how Champions League football will affect them.

"Some clubs will drop back and some will go forward - hopefully we are one of the ones going forward."

The battle to win over supporters in the race to take over the club has also stepped up after Huang reportedly contacted fans' group Spirit of Shankly - ShareLiverpoolFC.

According to the group, they have been approached by representatives of the Chinese businessman, he intends to be in the city in the near future and has requested a meeting.

"They have made it clear that any discussion would be entirely without prejudice, in order to learn more about Spirit of Shankly - ShareLiverpoolFC, what the organisations want and to see if there are mutual areas of agreement," said a statement from the group.