iPro Stadium

Next Game

Derby v Birm'ham

Saturday, 07 March 2015, 15:00

Sky Bet Ch'ship

Last Game

Birm'ham 1 - 0 Blackpool

Wednesday, 04 March 2015, 19:45

Sky Bet Ch'ship

Pannu cools takeover talk

Birmingham acting chairman Peter Pannu has cooled speculation over a potential takeover of the Midlands club.

Last Updated: 02/10/13 at 17:21 Post Comment

Peter Pannu: Has cooled speculation over a potential takeover

Peter Pannu: Has cooled speculation over a potential takeover

More of the games that matter

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

Rumours have been rife for weeks that City are attracting interest from potential suitors and that only intensified when Hong Kong-based Pannu flew back to England on Tuesday, attending the club's 4-0 victory over Millwall at St Andrew's.

But Pannu insists his return has not coincided with any plans to meet interested parties.

"The recent rumour about a takeover is not correct," Pannu told the club's official website.

"Due diligence was completed by a party some time ago and a timeframe for an offer was set, but we heard no more.

"As the offer did not materialise within that period, there is no imminent deal as is being suggested.

"I don't have an appointment to meet anybody during my time here in the UK and, due to non-disclosure agreements, I don't wish to discuss this any further.

"The key point to make regarding the ownership of the football club is that Carson Yeung (president) does not wish Birmingham International Holdings Limited (BIHL, parent company) to lose its listing status in Hong Kong and a full disposal of the club would hinder those plans.

"Plans for the resumption of trading of BIHL's shares are well underway in Hong Kong and when those plans are successful then the intention is that significant capital will be raised for the football club's general operations.

"Therefore the priority at the moment is the resumption of trading. A full disposal of the club would hinder those plans as the listing status would be lost and that would go against Carson Yeung's wishes or the wishes of the shareholders."

Owner and Hong Kong businessman Yeung, who remains unable to leave the Far East, continues to battle a lengthy court case over alleged money laundering.

Asked whether Yeung has plans to sell Birmingham once the resumption of trading in the Sky Bet Championship club has been completed, Pannu replied: "Carson Yeung is personally in preliminary discussions with some buyers from Asia.

"So yes, I believe it may be his (and the shareholders') ultimate intention, however, as outlined above, he is working to his own strategy on how to achieve this."

More of the games that matter

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

Related News

Most Commented

Readers' Comments

I

d like to add players who push their team-mates out of the way to celebrate on their own

exhausted
The Ten Most Hated Things In Football

I

f I were Manuel Pellegrini I would keep quiet and hope the Board didn't notice City not winning anything. If he isn't sacked I'd be astonished.

lfcfan80
Pellegrini: I won't be sacked

S

till I suppose it still gives him at least another year in the job. By the time it comes around , he can always make up another excuse. First it was 3 months , then a year .....Next year ? Whats his excuse with Van Persie ?

spud1
Di Maria 'could peak next year'

Footer 365

Wigan stun Norwich, Sharp inspires Leeds

Norwich's bid for a seventh successive Championship win was thwarted by a determined Wigan, while Leeds, Blackburn and Birmingham all won.

Newcastle 0-1 Man United: Evans and Cisse accused of spitting as visitors leave it late...

Manchester United nicked a 1-0 win at Newcastle but Jonny Evans and Papiss Cisse were involved in an unsavoury incident.

Neville 'concerned' over Reds form

Gary Neville has admitted that he is "concerned" that a resurgent Liverpool could qualify for the Champions League ahead of Manchester United.

Mail Box

Look Away Now Please, Sherwood...

Sherwood's cringeworthiness, Matic's Wembley celebrations, why LVG must show balls - it's all here in your Wednesday afternoon Mailbox...

United's No 2 Isn't That Bad Either...

One mailboxer is getting in a flap about the claim Man Utd would struggle without De Dea, while there's some anger directed at Chelsea...

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