Pannu rejects Paladini claims

Peter Pannu has denied claims from Gianni Paladini that a takeover of Birmingham could be agreed within the next 10 days.

Last Updated: 15/11/12 at 13:57 Post Comment

Peter Pannu (r): Poured cold water over Paladini claims

Peter Pannu (r): Poured cold water over Paladini claims

Birmingham acting chairman Peter Pannu has poured cold water on claims from Gianni Paladini that a takeover deal could be agreed within the next 10 days.

Paladini's Italian-led consortium is understood to have lodged an improved £30million bid for the npower Championship club at the start of November.

Although no deal has been accepted, the Solihull-based businessman claims to be currently looking through the club's books with a view to hopefully concluding an agreement by the end of next week.

But confusion is now rife after the latest statement from Pannu, who is currently in Hong Kong along with City's Far East owner Carson Yeung.

Pannu morning told Birmingham's official website on Thursday: "There are no active negotiations with the group involving Gianni Paladini or any of his associates.

"Should there be any agreement reached, there shall be formal announcements made in Hong Kong and also in the UK. I would urge that only official information should be relied upon and not rumours or speculation."

Pannu's response comes after fresh quotes from Paladini appeared in the media last night.

The former QPR chairman, who moved from his native Italy to the midlands in the 1960s, told Telegraph Sport: "We want to get a deal done very soon because we don't want to lose any players in January. I am hopeful that we can get something agreed within the next 10 days.

"I still believe Birmingham can get into the play-offs and our intention is to sign four or five players in the transfer window to strengthen the squad.

"We have spent a lot of money trying to get this completed and are currently looking through the books. Our intentions in buying Birmingham have never wavered, we want it done, and we are keen to get it all sorted by the end of next week."

Pannu has been exploring the potential for bringing in new owners or finding investment in the club.

A first offer from Paladini's consortium, believed to be around £25m, arrived in mid-September and was rejected.

The board of Birmingham International Holdings Limited, City's parent company, duly released a statement to the Hong Kong Stock Exchange on October 9 stating they were in talks with two different unnamed parties about the possible sale of the club.

Unconfirmed reports then surfaced at the start of November that Paladini had lodged a second, improved bid in the region of £30m, placing his consortium firmly in pole position.

The bid was never announced to the Hong Kong Stock Exchange and the status of the offer remains unclear, with the quotes from Pannu and Paladini over the last 24 hours only confusing matters.

The current state of play is likely to rest somewhere in the middle of the two versions of events although a decision over the sale of the club ultimately rests with Blues' current owner Yeung, who may be holding out for improved terms.

Hong Kong businessman Yeung is currently unable to leave the Far East as he prepares for a court date later this month over alleged money laundering.


Click here for completely free £10 bet with Sky Bet & £5 free every week


Related News

Most Commented

Readers' Comments

T

heyremind me of Utd's treble winning side. Swashbuckling and risk prone. We ha Jaap Stam to paper over the cracks at the back though. Not sure they have their Jaap yet.

HarryBoulton
New Striker Not Liverpool's Priority...

A

lexis Sanchez; too good for Liverpool, Stevie. :)

pires
Suarez 'too good for Arsenal'

T

he solution is to not feel sorry for any of Jabba, Gold or Sullivan. They're all deeply unpleasant and all deserve each other. If only West Ham would sign Barton and Suarez then no one would ever need to despise any other club.

spuzzell
The Strange Idea Of Sympathy For Big Sam

Footer 365

Patrice Evra reveals he would have been Man Utd captain if he had stayed

Patrice Evra has revealed he would have been made captain if he had stayed at Manchester United.

Transfer news: Liverpool manager Brendan Rodgers targets further signings

Liverpool boss Brendan Rodgers is hoping to further strengthen his squad ahead of the transfer deadline on September 1.

Transfer news: Jose Mourinho confirms Fernando Torres will stay at Chelsea

Chelsea manager Jose Mourinho has told Sky Sports News Fernando Torres will not be sold during this transfer window.

Mail Box

Plenty Of Reasons Why Lukaku's Worth It

The mailbox defends Everton's enormous outlay on Romelu Lukaku, while we also have mails on Spurs and Suarez. Oh, and worrying about the new magic spray...

Sterling Stuff And Other Friendly Thoughts

We have one reader reaching conclusions from last night's friendly while we have others discussing Romelu Lukaku's move to Everton. Oh and some swearing...

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