Birmingham Sports Holdings confirmed in an announcement on Monday to the Hong Kong Stock Exchange the date of an Extraordinary General Meeting to approve the partial sale of BCFC to Oriental Rainbows Ltd. The sale would see Chinese-Cambodian businessman Vong Pech become the largest shareholder in the club.
On Friday Birmingham City filed details of two charges with Companies House, outlining forward financing of payments relating to the Che Adams transfer to Southampton and the Jude Bellingham transfer to Borussia Dortmund. A total of £18M has been used as security for the charges, which show Macquarie Bank’s London branch as the lender.
Embattled Trillion Trophy Asia owner Paul Suen suffered another potential setback in Hong Kong last week. Suen, who is the largest shareholder in Birmingham Sports Holdings, quit his role as Non Executive Director at EPI Holdings (689:HK) after a shareholder revolt at the company’s AGM.
Lockdown has entered its seventh week in the UK and the football authorities are still no nearer in working out how to complete the 2019/2020 season. As a consequence, football clubs are facing harder and harder decisions regarding how to sort out their finances, with some having to resort to using the government’s furlough scheme.
There has been a lot of focus on the people running Birmingham City in recent weeks as the pressure on Head Coach Pep Clotet has grown. With this in mind I thought it would be good to take a proper look at who the is on the board at Blues, to aid understanding of just what is going on and who would be the one to make a decision.
As the protests continue to rumble on in Hong Kong, the economy there shows signs of further weakening. While the Hong Kong stock market is as yet to be affected, various financial news outlets have spoken of potential investor flight from the former colony as long-term prospects grow increasingly bleak. What could this mean for Birmingham Sports Holdings and by extension its subsidiary Birmingham City FC?
The rumour season is once again in full swing on social media, with rumours not just of impending incomings and exits at Blues but talk of potential changes in ownership. None of these rumours have any basis in fact as it stands – I wrote this article to explain why Blues won’t be sold any time soon.
In the fallout from everything that happened on Thursday one of the most common questions I’ve been asked what I know about the motives of the owners of Birmingham City.
Documents from Companies House confirm that a new subsidiary of Birmingham Sports Holdings has been created in the UK in the last fortnight which looks to be specifically to complete the sale of the stadium. This confirms previous thoughts that the club were looking to make moves to improve its standing for P&S purposes.
Birmingham Sports Holdings confirmed a couple of board room changes to the Hong Kong Stock Exchange yesterday. The announcement confirmed that Anita Chan Yuk Yee, who was both executive director and company secretary of the holding company has been replaced.
