Birmingham City President Insists Club is not for Sale

October 22, 2013

The President of Birmingham City Football Club, Carson Yeung, has warned Gianni Paladini that the Championship club is not for sale.

Former QPR Chairman Paladini claimed to have agreed a deal to purchase the Blues for £20m ($32.4m), leading the club’s parent company Birmingham International Holdings (BIHL) to issue a statement to the Hong Kong Stock Exchange clarifying the situation.

That statement was signed by Yeung who is currently giving evidence in his trial for alleged money-laundering activities.

The statement read: “Reference is made to certain press articles recently published by a number of news providers in relation to the possible takeover or acquisition of Birmingham City Football Club.

“The board wishes to clarify that no written agreement has been reached or signed with any party in relation to the disposal of all or parts of the company’s equity interest in Birmingham City Plc and/or Birmingham City Football Club, and that, as at the date of this announcement, the company has no immediate plans to dispose of a controlling equity interest in BCP and/or BCFC.”

The news went public because of Stock Market regulations, after Paladini claimed BIHL managing director and CEO Peter Pannu had signed an agreement to sell Birmingham.