Birmingham Sports Holdings made an announcement to the Stock Exchange of Hong Kong yesterday to clarify their acquisition of a Chinese lottery company. The announcement cleared up some of the confusion re prior connections between the holding company and the lottery firm, as well as offering more insight into how BSH are going to make money from the project.
Birmingham Sports Holdings today confirmed in a voluntary announcement to the Hong Kong stock exchange that they have entered into an agreement to buy a Chinese lottery company. The announcement confirmed that the new company should guarantee a profit of around £3million for BSH over the next three years.
Mystery has swirled around the ownership of Western Melbourne Group since the consortium were confirmed as the 11th team to play in the Australian A-League from next season. Today, I can reveal that Birmingham Sports Holdings are the financial backers for the project.