Next Game

Birm'ham v Reading

Saturday, 08 August 2015, 15:00

Sky Bet Ch'ship

Birmingham in takeover talks

Birmingham are at an advanced stage in discussions with a mystery Hong Kong party interested in a takeover of the Championship club.

Last Updated: 23/11/12 at 20:33 Post Comment

Birmingham City: Takeover talks at an advanced stage

Birmingham City: Takeover talks at an advanced stage

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

The board of Birmingham International Holdings Limited (BIHL), City's parent company, told the Stock Exchange they are in talks with two parties from Hong Kong and one from the UK - believed to be Gianni Paladini's Italian-backed consortium.

The former QPR chairman was understood to be leading the chase, although Blues' acting chairman Peter Pannu last week poured cold water on claims from Paladini that their takeover deal could be agreed within 10 days.

A statement from BIHL read: "As previously announced on September 21 and October 9, the board has been approached by several prospective buyers who had shown interest in the purchase of BCFC, which is the company's sole operating assets.

"Given the fact that confidential non-disclosure agreements had been entered into with three of the parties who are still in pursuit, two in Kong Kong and one in the United Kingdom, it is inappropriate to divulge detailed information of the status of the negotiations.

"The board wishes to inform the shareholders that the criteria that the board shall adopt in this disposal would be to identify a new owner who could take BCFC to the next level both in terms of their financial standing, business acumen and overall suitability and the nature of their offer and the overall terms of the offer.

"A balance will be struck between what is the most beneficial for the shareholders and what is the most appropriate for the development of BCFC as the board acknowledges that football is a business where, inter alia, the aspirations of the fans need to be considered."

The statement added: "The negotiation with one of the parties in Hong Kong is at an advanced stage although no conditional binding agreement has been entered into between the parties.

"The transaction, if it proceeds, will constitute a very substantial disposal transaction by the company under the listing rules and will be subject to the approval of the shareholders in a general meeting.

"A detailed announcement will be made as and when appropriate."

A first offer from Paladini's consortium, believed to be around £25million, was rejected in September.

Meanwhile, current owner and Hong Kong businessman Carson Yeung, who is currently unable to leave the Far East, will still face court on November 28 over alleged money laundering after today seeing a bid to delay the case rejected.

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

Y

ou can't blame De Gea for wanting to leave, he has enough to do in front of goal as it is as well as taking on the role of Man Utd's version of Derek Acorah in trying to contact and organise a defence that isn't there.

rodger's gusset
Van Gaal downbeat on De Gea

I

f you want to take six points off Arsenal, then that's a great strike force. Can't imagine either of them showing much for the rest of the season though...

foot in mouth
Adebayor & Berbatov: You Have To Admire The Balls

L

ooks like Real get their man, most likely at their own valuation, yet again. Resistance is futile.

paul7702
Van Gaal downbeat on De Gea

Footer 365

Digne agent denies Liverpool talks

Lucas Digne's agent has denied reports he has held talks with Liverpool regarding a move to Anfield for the Paris Saint-Germain left-back.

Mourinho scuppered Reds' Costa move

A new biography has revealed how Jose Mourinho scuppered Liverpool's bid to sign Diego Costa - a year before he arrived in west London.

Ramos 'extends' Real Madrid contract

Manchester United's pursuit of Sergio Ramos is over after the centre-back agreed a new contract extension at Real Madrid.

Mail Box

De Gea Disrespectful? Remember RVP...

We got dozens of mails from people pointing and laughing at Brian D for suggesting David de Gea has acted disrespectfully; we printed some. And there's more...

Getting Tired Of De Gea's Disrespect

One Manchester United fan is growing weary of David de Gea's disrespect. Plus thoughts on Southampton's summer, Balotelli loan, and Depay in the centre. Why?

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company