Gianni Paladini pulls out of Birmingham City takeover talks after row with Peter Pannu #bcfc   Leave a comment


See on Scoop.itbirminghamcityforum.co.uk

Gianni Paladini has dramatically ended his interest in buying Birmingham City after a row with the club’s acting chairman Peter Pannu.

The Solihull-based businessman reacted angrily after Pannu denied that officials were in “active negotiations” with his consortium.

The statement appeared on Blues’ website hours after Paladini revealed his hopes that an agreement for his group to buy the club could be reached within ten days.

Responding to Pannu’s quotes, the Italian told the Mail an offer for the club had been tabled but warned he would not “waste his life” waiting for a resolution.

He later revealed his consortium had walked away from any deal.

“I’ve done exactly what they’ve asked me to do,” he said.

“I’m sorry for Birmingham City. I love the Blues. If he (Pannu) doesn’t want to deal he should come out and say so.

“Nobody else will offer them the deal we have offered them.

“I’ve been very open but we’re at the point if he doesn’t want to sell, if he’s got another buyer, good luck.”

Paladini told Free Radio: “We are very disappointed. After three months work, nothing happened.”

The Mail reported that Paladini’s consortium had formally lodged a second, improved, bid of around £30 million, including a £17 million down payment, for the club almost a fortnight ago.

Although it was rejected, negotiations continued about its structure.

But the former QPR chairman’s comments sparked Pannu’s statement, in which he urged fans not to rely on “rumours and speculation”.

Pannu said: “There are no active negotiations with the group involving Gianni Paladini or any of his associates.

“Should there be any agreement reached, there shall be formal announcements made in Hong Kong and also in the UK.

“I would urge that only official information should be relied upon and not rumours or speculation.”

Paladini said the only way to revive the deal was for Blues to accept the deal being offered.

Blues fans on Twitter admitted that confusion reigned.

BCFC Followers tweeted: “I’m confused and don’t know what to believe. We don’t know who’s telling the truth, we got our hopes up and that’s what bothers me.” #bcfc #bcfcfan.co.uk

See on www.birminghammail.co.uk

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Posted November 15, 2012 by Birmingham City Fans Forum in Birmingham City News

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