The dust has now settled after the big news of Birmingham City being sanctioned with a nine-point deduction for breaching Profit and Sustainability rules. The questions now have to be asked as to how Birmingham City got into the mess it did and how it can ensure it does not happen again.
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.
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.
Over the last ten months I have written an occasional series about “Mr King” aka Wang Yaohui. I’ve written about his past and his connections with various entities who have loaned money and gained stock in Birmingham Sports Holdings. In this article, I’m exploring what Wang has been up to of late and his connections to Cambodia.
The two-year anniversary of the takeover of Birmingham Sports Holdings by Paul Suen Cho Hung’s Trillion Trophy Asia vehicle approaches in October. With it being public knowledge that Suen could not sell his stake in BSH within two years, will this anniversary herald a change of owner?
Previously on almajir.net I’ve written about a group of large shareholders in Birmingham Sports Holdings I’ve termed “The Faceless Four”. Today I have spent time investigating two of those shareholders to find out more about them and who they are.
Previously on almajir.net, I have written about Wang Yaohui aka “Mr King” and his connections with various shareholders in Birmingham Sports Holdings along with the company chairman Zhao Wenqing.
Birmingham Sports Holdings today made an announcement to the stock exchange of Hong Kong clarifying the recent investments made by Chigwell Holdings and Dragon Villa. In what was an extraordinarily detailed announcement, it was confirmed money loaned by those two companies was used to finance the football club.
Rumours have emanated from St Andrew’s over the last few months of a shadowy figure only known as “Mr King”. While nothing is known about this gentleman’s true role within the club (if he does indeed have one), this website can now confirm that “Mr King” is 51-year-old Chinese businessman Wang Yaohui.