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The Gap Partnership

Deadlock over football club acquisition

The protracted takeover affair involving Birmingham City Football Club may be stalling, with the club stating the two sides are not currently talking.

16 November 2012

The proposed acquisition of Birmingham City Football Club by Italian businessman Gianni Paladini may have stalled, after its chairman Peter Pannu said there were "no active negotiations" currently taking place.

Mr Pannu's statement continued: "Should there be any agreement reached, there shall be formal announcements made in Hong Kong and also in the UK," adding that only "official information" should be trusted, rather than speculation and rumour.

The affair may be an example of the kind of takeover situation where merger and acquisition consultants can help break a deadlock.

So far, Mr Paladini has made two bids for the club and Birmingham City is seeking new investment, with its major shareholder Carson Yeung currently facing criminal charges in Hong Kong for alleged money laundering.

One football club that is nearing a takeover is Portsmouth, with joint administrator Trevor Birch of PKF agreeing a deal in principle with the Pompey Supporters' Trust to buy the cash-strapped business.

However, he noted, the transaction is dependent on a court case pushing through the sale of the club's Fratton Park home, as its owners Portpin have rejected the Trust's offer for the stadium.

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