Fresh hope for Blues fans as news emerges of takeover bids
BIRMINGHAM City FC is considering up to four offers to buy the club, reports suggest.
A British-based consortium is said to be willing to pay in the region of £32m, but there is also interest from China, Australia and the Middle East.
Blues owner Carson Yeung was jailed for six years in March after being found guilty of money laundering in Hong Kong. He is appealing against the verdict and sentence.
Yeung remains Birmingham’s largest shareholder but has resigned from all positions related to the club.
The success of the new takeover bids may hang on whether Yeung is willing to accept around £30m for a club he paid more than £80m for.
The British-based group which is said to be lining up a £32m takeover bid is said to be made up partly of wealthy Blues supporters.
At the start of this month Blues’ parent company Birmingham International Holdings noted the increase of the share price and increase in trading volume of the shares of the company, which – some observers believe – suggests investors were anticipating a potential takeover of the club.
Meanwhile, the Coventry Telegraph newspaper reports that a mystery group of local businessmen appears to have launched a campaign to mount a supporter-backed takeover bid for Coventry City.
The group – calling itself The Highfield Road Group after the club’s former ground – has set itself a target of raising £3m through fans’ donations in 50 days.
