The City Ground

Next Game

N Forest v Birmingham

Saturday, 19 April 2014, 15:00

Sky Bet Ch'ship

Riverside Stadium

Last Game

Middlesbro' 3 - 1 Birmingham

Tuesday, 08 April 2014, 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

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."

Football365 Facebook Fan Page

The Football365 fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Sky Bet

    • Retrieving latest Sky Bet odds

Most Commented

Readers' Comments

I

may well get slated by other United fans for this, but out of the three contenders, I'd far prefer Liverpool to win the title. Yes some elements of their fanbase can be a bit OTT, yes they're our biggest rivals and yes it will make our poor season feel even more like the end of an era (Fergie's gone, Liverpool are back on top). However I just have to applaud Brendan Rodgers and the way he's turned Liverpool around in just a couple of seasons. It...

Mike_Christie
Please Stop Telling Us What To Think

H

ooray! We are all excited now, we beat a very mediocre team! With all due respect to WHU supporters, not winning that game shouldn't even be a consideration. This is the problem, there is no winning mentality at the Emirates - we're all congratulating ourselves beating a team that we have a winning record against.

TheWhiz
Wenger hails important win

I

s this meant to be an aspiration for United supporters? Moyes mediocrity strikes again. I see the Bayern boys don't want to sign for him, and his reputation amongst the senior European coaches make other key signings unlikely.

redbornandbred
De Gea's Europa League target

Footer 365

Premier League: Manchester City boss Manuel Pellegrini vows to fight despite Sunderland draw

Manuel Pellegrini admitted the loss to Liverpool was still on Manchester City's minds as they drew with Sunderland.

Copa del Rey: Real Madrid beat arch-rivals Barcelona to win the cup final 2-1

Gareth Bale's brilliant goal five minutes from time gave Real Madrid a 2-1 win over Barcelona in the Copa del Rey final.

DFB Pokal: Bayern Munich reach final after 5-1 win over Kaiserslautern

Bayern Munich are on course for the domestic double after they beat Kaiserslautern 5-1 to reach the DFB Pokal final.

Mail Box

Fatigue No Excuse For Giroud Being Cr*p

We have a long mail on why Giroud isn't very good at all, plus some more thoughts on neutrality. Plus, who do you want out of you club this summer and Liverpool moving buses...

Will Liverpool Cope With Parked Buses?

That's the real problem they're going to face next year, says one Man United fan who's already looking forward to the end of this campaign. Plus, thoughts on neutrality...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property