June has almost come to an end and as it stands, there is no official word that Birmingham City are any closer to being takeover. While there have been rumours about Laurence Bassini visiting B9 in the near future, there has been no direct quotes from the Bassini camp in recent days and his self-imposed deadline of tomorrow may well come and go without anything being completed.
With any chance of a takeover happening still incredibly uncertain right now, there has been some fear among Blues fans that this will be the season Blues go under financially. The more dramatic fans on social media have seized on the idea that the owners will not fund the club if it is not sold with all the attendant crises that would cause.
It’s been just over a week now since the HKSE announcement from Birmingham Sports Holdings confirming that Vong Pech had agreed to sell the 21.64% stake in Birmingham City plc that he owns. Since then there’s been a fair few newspaper articles, a radio interview complete with wild promises and potentially libellous accusations – but nothing of any actual official value. What’s going on?
The first official communication that a partial takeover of Birmingham City is underway was made yesterday as Birmingham Sports Holdings made a voluntary announcement to the stock exchange. The announcement confirmed that BSH had been informed by Vong Pech that he was selling his 21.64% stake in Birmingham City plc.
Once again, takeover fever is in abundance in Birmingham City fans. According to the Mirror, even the grammatical tense surrounding the takeover has changed with reports that Laurence Bassini has bought the club. With lots of rumour flying around and precious little actual information I wanted to put together some reasoned thoughts on what the hell is going on.
Radio Free Asia reporter Jack Adamović Davies published a huge investigative report into Wang Yaohui – also known as the elusive Mr King – on Monday night. The report confirms that conclusive proof exists showing that Wang is neficial owner of one shareholder in Birmingham Sports Holdings and is a close familial link to Vong Pech. It also goes into detail about Wang’s connections in Cambodia and Cyprus and the legal troubles he is facing.
There’s an old cliché that a week is a long time in football. The last three weeks must have felt like an eternity for some Blues fans as days continue to tick by without any official confirmation on the status of the stadium repairs, Lee Bowyer or the rumoured takeover. With June almost upon us the club remains in stasis waiting for movement from anywhere.
Despite reports that one bidder for Birmingham City has been granted exclusivity, rumours of other interested parties have been rife in the British press. However, in Hong Kong the situation is very different with no confirmation from Birmingham Sports Holdings of any bids for the club. How long can this silence go on for?
The football season may have come to a close, but takeover season appears to have well and truly started. News broke on Saturday morning of an offer for the club brokered by Keith Harris, with journalist Neil Moxley claiming that the deal was close and could be done by the end of the month.
Despite there being no official news, takeover rumours regarding Birmingham City have taken hold in the last couple of weeks. I’ve already written a piece about the mechanics of how a takeover would work but I think the bigger question from many people is about who exactly wants to buy Blues – and will they be successful?