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The Gap Partnership

Birmingham City acquisition in the balance

The head of a consortium seeking to take over a football club has warned the negotiations may have a long way to go.

18 December 2012

Posted by Edel Quinn

The help of merger and acquisition consultants may be vital in pushing through a deal for an Italian businessman to take over Birmingham City Football Club before Christmas.

Solihull-based Gianni Paladini is in talks about a £30 million takeover of the club by the consortium he leads, but he told the Birmingham Mail negotiations with current owners Birmingham International Holdings Limited (BIHL) may have a long way to go.

He said: "We are still working at it but with the Christmas holidays coming up it is difficult dealing."

Mr Paladini's bid is in pole position after talks between BIHL and a rival consortium from Hong Kong all but collapsed.

The need for the club to be taken over is not as imperative as it is at Portsmouth, which has been threatened with liquidation over its large debts.

An attempt to buy the club is being made by the Portsmouth Supporters Trust, but owners Portpin are unwilling to sell the Fratton Park Stadium to the group.

Earlier this week, it was revealed a court case on the sale of the ground is scheduled for January 15th 2013.

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