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Hong Kong group in talks over football club acquisition

A new mystery buyer has emerged as the most likely party to acquire Birmingham City football club.

26 November 2012

Posted by Ron Maverick

Merger and Acquisition consultants may be deeply involved in negotiations that could see English football club Birmingham City sold to investors from Hong Kong.

A statement by the club's owners Birmingham International Holdings (BIH) Limited to the Hong Kong Stock Exchange has revealed Italian would-be buyer Gianni Paladini may be about to lose his quest for control to a mystery bidder.

It said: "The negotiation with one of the parties in Hong Kong is at an advanced stage although no conditional binding agreement had been entered into between the parties."

BIH is seeking to sell the club, with its boss Carson Yeung currently facing money laundering charges in Hong Kong.

A recent statement by the club on its website had advised shareholders and supporters of the team to only rely on "official information" and ignore speculation.

One club where a takeover has recently been agreed is Leeds United, where chairman Ken Bates announced this month that a deal is finally in place for Dubai-based investment bank GHF Capital to take total control.
 

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