It’s a bipolar existence being a Birmingham City fan sometimes. On the pitch things look much improved and on Saturday the team scored five goals in the league for the first time in nearly six years in a thumping 5-0 win over Luton. Off the pitch, the rumour mill is in overdrive with whispers of financial meltdown doing the rounds in a vacuum of information.
Birmingham City Stadium Ltd confirmed a raft of changes to Companies House yesterday which sees the exit of former Blues CEO Ren Xuandong as a director along with Edward Zheng Gannan. More importantly, Vong Pech and Kang Ming-Ming were newly appointed as directors in a move which would seem to confirm the sale of the St Andrew’s by Birmingham Sports Holdings is complete.
Birmingham Sports Holdings announced to the Hong Kong Stock Exchange on Wednesday afternoon that it had agreed to sell off its remaining 75% stake in Birmingham City Stadium Ltd. The sale passes St Andrew’s Stadium into the hands of a British Virgin Islands investment vehicle – and further muddies the water of how the club is run.
On Friday, Birmingham Sports Holdings made an announcement to the Hong Kong Stock Exchange that they had issued just over a billion new shares in the company to repay debts to two third party lenders. An investigation into the two companies and their owners has shown that both companies are connected both to the elusive Mr King, Wang Yaohui.
On Friday, I published a lengthy article outlining just how tangled a web the ownership of Birmingham City FC is. In this article I am concentrating on new shareholders in the club Oriental Rainbow Investments Ltd – and why their investment is indicative of issues the club faces.
The recent partial sale of Birmingham City to investment vehicle Oriental Rainbow Investments along with the recent share subscription completed by Birmingham Sports Holdings has complicated the question of who actually owns the club a little bit further. As the structure of the ownership of the club becomes more Byzantine, it’s become increasingly difficult for fans to understand.
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.
Birmingham Sports Holdings produced their annual report on Thursday, covering the year to June 30, 2020. The glossy 162-page brochure is published to give shareholders information on the company including the recent accounts published along with some further detail.
Following news breaking on Friday regarding a sale of a slice of Birmingham City to Chinese-born Cambodian businessman Vong Pech, there have been many questions online about the purchaser’s identity. Who is Vong Pech, how much money does he have and why does he want to buy this stake in the club?
Birmingham Sports Holdings broke the news on Friday afternoon that they are proposing to sell a 25% stake in BCFC to Oriental Rainbow Investment Ltd, a British Virgin Islands investment vehicle owned by current BSH shareholder Vong Pech. The deal will see Vong Pech become the largest shareholder in the club among other changes.