Just prior to announcing their interim results on Thursday, Birmingham Sports Holdings also announced a rights issue in an attempt to raise HK$297.7million. The purpose of the rights issue is to reduce the frightening levels of borrowing within the company and to provide more working capital to keep the company going.
Birmingham Sports Holdings today announced their interim results for the six months ending December 31, 2018 today. The results have shown some improvements but the company still reported a HK$173million (around £16.6million) loss in just six months.
Birmingham City made filings with Companies House yesterday confirming procedural details which may have an impact on Blues “Profit and Sustainability” calculations this season.
Birmingham Sports Holdings today announced to the Stock Exchange of Hong Kong that Trillion Trophy Asia have extended a HK$250million loan facility for a further two years. The loan was due to elapse on December 21, 2018 but both parties have agreed to extend the facility and its loan repayment period.
On Thursday evening the EFL and Birmingham City Football Club released a statement on their respective websites confirming that Kristian Pedersen was now registered as a player and that the transfer embargo was ended. After a fairly long summer of waiting, is this now happily ever after as far as the whole embargo thing is concerned?
With rumours flying around about the possible purchase of Lewis Grabban by Birmingham City from Bournemouth, the question of Financial Fair Play raises it’s ugly head again. However, the question isn’t so much about if Blues are breaking FFP rules now – but more to the point, does anybody care?
Announcements were made by both Birmingham City FC and Birmingham Sports Holdings today that have financial ramifications for the immediate future of the football club. BCFC confirmed that they have sold naming rights to both St Andrew’s and the Wast Hills training complex while BSH have confirmed another share subscription deal that sees Dragon Villa become their second biggest shareholder.
Further evidence of financial meltdown swirling around B6 became further apparent today after news broke of an unpaid tax bill. According to various reports £4.2million was owed to Her Majesty’s Revenue and Customs, with the taxman threatening a winding up order if payment is not made within seven days.
Saturday saw Fulham complete their return to the Premier League after winning the playoff final at Wembley. While the Cottagers can now go forward with plans to spend and improve their team, the losing team are stuck with another year in the second tier despite bold hopes this season. Is this finally the time for the Birmingham Power Shift (© H-Bomb of SHA) to kick in?
With the transfer window opening as of midnight on Thursday, clubs in English league system can now buy and sell players again. However, that situation may be complicated in the Championship as this website has learned that as more than a dozen Championship clubs have been found to be in breach of FFP regulations.