Birmingham City’s Chinese owners set to ‘lose a fortune’ #bcfc   Leave a comment


See on Scoop.itbirminghamcityforum.co.uk

CHINESE investors in Blues’ parent group Birmingham International Holdings Limited face losing tens of millions of pounds if the sale of the club finally goes through.

Stockbroker and football finance expert Peter Knowles said the shaky status of the parent group – whose shares have been suspended since June 2011 – could leave shareholders with a ‘can of worms.’

**Birmingham City fans bouyed by news of potential takeover from Carson Yeung**

Share-trading in BIHL remains suspended until further notice while the parent group’s annual accounts have not been filed for 2011 and 2012 following a profit warning a year ago.

Mr Knowles said: “I think that Birmingham International Holdings may well be a can of worms and the money that they may or may not get through the sale of the football club may well be left to pay off the banks.

“The Hong Kong Stock Exchange is a regulated body, not a Mickey Mouse operation, and you could end up with a delisted company that may or may not have some money.

“The investors behind BIHL coughed up £81.5 million for Blues, which is almost £20 million more than Randy Lerner paid for Aston Villa, and if they end up with half their money back they are likely to be happy. We do not know what the liabilities of the company are – they could lose up to half their investments or even more.”

Mr Knowles suggested a sale of the club would be welcome to all parties. #bcfc birminghamcityforum.co.uk

See on www.birminghammail.net

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Posted October 10, 2012 by Birmingham City Fans Forum in Birmingham City News

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