Archive for the ‘Carson Yeung’ Tag

Who has renewed? the club needs you more than ever.   1 comment


Written by Stephen (Member of birminghamcityforum.co.uk)
Well as we stand on the edge of a new season I thought I’d reopen the blog and ask is anyone thinking of renewing or has already done so? I live in Ireland so getting to Blues is a mammoth task for me, however I still managed 9 games last season and am hoping to go to more this season. I urge all Blues fans to renew this season, its more important now than it ever was as we need to keep the club afloat and debt free for a new buyer. Some of the revenue will hopefully go towards bringing back Ravel Morrison or Shane Ferguson, two players we would all love to see back in a Blues shirt.

A few of my friends in Brum have already renewed and one is doing so today. The club needs its hardcore base of fans to stand with the club despite its financial plight. A club in the black would look more promising to any potential buyer than one in the red. It stands to reason that season ticket holders are the life of any club and with Blues already fighting off the threat of people staying away and voting with their feet it would in the long run make the club look a terrible business proposition for any prospective buyer and this would be something none of us want. The more viable the club the more wealthier the buyer could be.

Member TaityRaveone on the forum said today

Who’s been and renewed? I have. Looking forward to the new season. Just waiting for the new kit to come out and I’ll be there supporting the lads.

It is a sentiment I think echoed across the hardcore of Blues support that they will keep going regardless and hope Yeung and Pannu sort their end out and the club is finally sold.

Its in everyones interests I think to move forward that we continue to support the club we love.

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Pannu survives re-election   Leave a comment


Today Birmingham International Holdings held their AGM (May 10th 2013) and having already seen the PDF’s and posted them to Facebook and birminghamcityforum.co.uk. It would seem that Peter Pannu has been relected. One thing that is striking about the PDF’s released by BIH is that most of the Ordinary Resolutions were passed by a 92%…to 7% against majority. Something very odd about that or that someone with a major shareholders vote all went one way.

Mr. Peter Pannu as an executive director; For 92.89 % against 7.11% indeed Peter Pannu, Ma Shui Cheong, Cheung Kwai Nang and Carson Wong all received a vote of 92%.

It has to be said that whilst none of us will truly know the in and outs of the AGM or where the votes came from for each candidate. It would seem the main protagonists are truly protected at the top of the company and so any shift in power of BIH is not going to happen in the short term and therefore us Blues fans must hope that they sell the club.

The PDF’s can be viewed here

http://202.66.146.82/listco/hk/birminghamint/announcement/a130510.pdf

http://202.66.146.82/listco/hk/birminghamint/announcement/a130510a.pdf

Pannu strikes back!   Leave a comment


Peter Pannu has struck back at local media groups in his attempts to clarify his and the clubs position.  In a strongly worded statement he’s said he’s rather disappointed that certain reports made last week by local reporters and media groups are quite inaccurate.  The reports which claimed that Pannu and Yeung had been involved in some “secret consultancy agreement”. Pannu has reaffirmed that legal advice had been sought regarding the agreement and confirmation of its validity. The previous board members had all constructive notices before the agreement was signed by Carson Yeung.  Pannu goes on to say “its absurd to suggest they were not aware of it”.

On the future of the club, He said “Carson is now in advanced discussions with a potential buyer from China, someone with the financial clout to take Blues back into the Premiership”.  Peter adds “I would have liked a buyer from the UK …..even a Bluenose but it would appear those UK parties are not as interested as they once were”.

Birmingham City Transfer Embargo Rumour   Leave a comment


Birmingham City are rumoured to be close  to having a transfer embargo placed on them by the football league for breaking financial rules .

Birmingham City’s owner Carson Yeung  was charged with Money-laundering in 2011, which he denies and is awaiting trial .The freezing of Carson Yeung’s assets has not helped the clubs financial plight.

But the club’s parent company Birmingham International Holdings Ltd did not meet the football leagues’ deadline of yesterday for submitting accounts for last season and now look certain to face an embargo, especially in the wake of Portsmouth’s dire financial situation, which is making the football authorities tighten up on all clubs to try and stem the tide of clubs hitting the lows that have fallen on Portsmouth in recent years .

This shouldn’t be too much of a problem for Birmingham City at the moment, as the transfer market is closed  for English league clubs and they have just signed 5 players just before this embargo kicks in .  If things are not cleared up come May 31st, when the interim results of BIHL are due to be released  , it could be a long hard summer for Birmingham City supporters, even if they do have Premier League football to look forward to, that is if the Premier League give them a licence .

The Football League | About Us | Regulations | Regulations Detail | Section 4 – Clubs  regulation 16.2  -16.7

It has been confirmed by Birmingham City that this is in fact True and the club have now released a statement.

Birmingham City Football Club Statement

Birmingham City Football Club can confirm that it has been made subject to a transfer embargo by the Football League. This is due to not hitting a 1 March 2012 deadline for submission of the company’s June 2011 financial statements to the League.

Blues LogoAs has been widely reported, Birmingham International Holdings Limited is expected to publish the financial statements by the end of April 2012.

The delay in filing the financial statements is occasioned due to the delayed audit processes, with both the club and the group holding company having to handle a series of audit issues, together with the financial issues thrown at the club due to the arrest and freezing of the assets of the club’s main benefactor and changes to banking arrangements.

The draft financial statements are prepared and it is understood that these will be finalised and published by the end of April (as previously announced through the Hong Kong Stock Exchange).

This short period of delay in submission, and the resulting transfer embargo, does not affect the business of the football club at this present time. Having captured the signatures of several more players in the last couple of weeks, the club is satisfied with the strength and size of the playing squad, which has been sufficiently reinforced to assist with our end of season push.

http://www.bcfc.com/page/News/NewsDetail/0,,10412~2630626,00.html

Carson Yeung Years (Does He Really Deserve That Song)??   1 comment


   

 

 By hootie63 (Member of birminghamcityforum.co.uk)

From day one it seems that problems have followed Carson Yeung in whatever he as tried to do or has done at Birmingham City .

First of all we had the failed total buyout of the club back in 2007, when he purchased 29.9% of the shares and was all set to complete the deal by the end of the 2007/08 season, only for things to turn sour with Birmingham City being relegated from the premier league and so facing a drop in revenue for the 2008/09 season. Once in the championship the total buyout failed to materialise .

A lot of speculation and accusations followed from Fans , Owners D GoldD Sullivan and media as to whether he really had the money or not .
My own take on it was that he did have the money/backing and wasn’t going to proceed with the purchase if he wasn’t going to be getting any return on the transaction ,why should he?

So for me the sensible thing was done, he put the purchase on hold and therefore sharing the problems and financial burden with D Gold and D Sullivan. As he was already the majority share holder he wasn’t going to lose anything by sitting tight for a season .

We had to endure a full season of accusations and counter-accusations from Carson Yeung and co and D Sullivan which were really damaging the club on the inside.

From a fans point of view it was a case of who was in the right and who should we believe, the old stalwart, who had done the club proud since taking the reigns in 1992, had seemed to have lost interest in the club and the New Chinese shareholder, who seemed to want to turn us into the next Man Utd and looked like the person to take us to the next level .

All was to be cleared up come the end of the 2008/09 season with promotion back to the premier league. Carson Yeung put in a new bid which for many seemed way over the odds but with premier league football back St Andrews could be recouped easily .

D Sullivan / D Gold  finally departed august 2009, the reigns were finally Carson Yeung’s and a new era began for Birmingham City. His first problem was not far away, he made the mistake of doing a press conference whilst not having a decent understanding of how the media in the UK work and their ability to make 2+2 = 5 , Yeung stated that he was going to invest £40mill in the summer and another £40mill January, which I’m convinced was a statement that got lost in translation but pounced on nevertheless by the watching press.  Many a desperate Bluenose also wanted to believe it to be true, many not realising that its was to include wages . In fact, the £40 mill budget in the summer did materialise.It was for players, wages and fees just like Carson (so he thought) had said.

The 2009/2010 season, which was to be  something of a success on the pitch and off it for Bluenoses , ended with the club’s highest finish (9th).

Money was being spent on players we could have only dreamed of signing in previous years, all looked rosy for the house of Yeung, onwards and upwards it looked like things had finally turned in our favour .

Despite all this there was still that element of doubt from some corners about Carson Yeung’s finances and his capabilities to run the club, mainly coming from the media, who hate the feeling of not knowing anything about somebody, it just doesn’t sit well with the British journalist, so in the end they revert to stirring .

Some fans began to think the media were right, does Carson have money?, we know he has got the contacts but people were not sure if he had the cash personally.

I think he did have the cash and the cash from other backers to keep us moving forward into the 2010/2011 season.

With new hope and new purpose fans started to return, money was again being spent on the team and all looked to be going well, so well in fact that we reached the Carling Cup final, then the unthinkable, we won it. The season then took a downward turn, relegation loomed, then occurred, something I was dreading, not the fact of getting relegated, more for the fact that the last time we were relegated Carson and Co backed out of the total takeover and I could see only bad things ahead. I believed that relegation would mean money wasn’t going to be invested on the playing side, purse string were going to be tightened and generally the club would struggle. I could see that for the Chinese, 2nd best isn’t something they invest in and that is where we found ourselves.

Worse was to come with the arrest of Carson Yeung on money laundering charges, something I’m not convinced he is guilty of, we will find out soon and all will become clear. When you delve into the shareholder list, many are banks there are also small and big companies based both in china and Hong Kong, I appreciate some are minor but shareholders nevertheless.

Now ive asked myself, would they invest in somebody or a company that was in such a bad way that they would not get their money back, maybe, but doubtful, surely they would have sold their shares once things started to go as bad as some reports suggested, some of these reports were before the shares were suspended .

The 2nd biggest shareholder in the club is a very wealthy person/company, would they really risk millions if they felt they were not going to get it back or at least a return on it.

I would say Carson Yeung as been very naïve, he has yet to be found guilty.

Does Carson Yeung care ?
I would say YES

Have fans been a bit harsh on Him ?
again I would say YES simply because of his naivety

Has Carson Yeung ever been given a real chance ?
Not sure he has by some sections

Do I believe Carson is not alone ? 
YES I believe we do have a silent player/s with Carson at the head

Do I like the way the club is silent on matters ?
NO but from what ive seen and heard the Chinese have never been the best at keeping people informed on what is really going on.
Would Carson Yeung spent money on players if these charges were not hanging over him ?
Not sure he would have.

Am I worried about the future finances of the club with Carson Yeung’s pending court case ? 
Not at the moment there are a lot of people like ive said who stand to lose a lot of money if things turned sour would they let it get to the stage where all was lost no way would they

Royal Blue Skies on the Horizon?   2 comments


By Simon Boon (Birmingham City Fans Forum member)

It’s as though the Titanic is sinking. The rats have jumped ship and a lot of the guests have knocked woman and children aside and fled onto the remaining life boats. Even some of the most loyal of crew members have found the nearest life jacket and jumped straight over board. Us fans would rather go down with the ship than jump. So are we truly on a sinking ship or could there be clear Royal Blue skies on the horizon?

Birmingham City as a club are no strangers to selling its prized assets after a relegation. However the whole Craig Gardner farce is one that has hit home with many Blues fans.  Despite having come from the dark side, Craig was accepted as one of our own, which was quite a feat in itself. The crowed sung his name and he kissed the badge as he proclaimed his love for this club and its fans. I think it’s clear to see now; the majority of us were taken in by this and many of us feel betrayed. He reminisced publically about standing on the terraces with his Dad as a youth and claimed one of the greatest days of his life was Birmingham City’s promotion to the Premier League for the first time against Norwich at the Millennium Stadium back in 2002.

I sit here now, as do many Bluenoses and feel we were all too quick to be taken in by all of that. ‘He’s the heart of this club’, ‘the Steven Gerard of Birmingham’… No he’s just another footballer trying to make as much money as he can in what is a short career. But alas, loyalty it seems is dead. The kissing of the badge, the (crocodile) tears at White Heart Line. It meant less to him than it did to his adoring fans that day.

He owed us one season. Some will argue that it isn’t his choice to leave and that Carson and co have forced his hand. I don’t believe that. He wanted out, but £6 million for a young English goal scoring midfield player is quite an insult and one can only imagine why the Board have accepted this. You could speculate all day that the player wanted out even more than he’s let on, or the finances are that dire that we saw the pound signs and took the cash. Gardner is one of the few players not to have a relegation clause in his contract and maybe at 25k a week, the Board needed rid. I don’t think we will ever truly know the reason. Gardner’s gone, that’s all that matters.

Gardner may be the biggest name to go so far, but the mass exodus began with our loans going back to whence they came, they won’t be missed. Bentley, Hleb, Martins. Potentially some of the biggest loans we’ve had down the Blues since Dugarry and Forssell, who incidentally, now both have their pictures hanging in the Legends Lounge at St Andrew’s. I’ve told Kodak to cancel our order for the one of Hleb, it won’t be needed.  I hope they enjoy warming the bench of another team next season. Martins is exempt from any criticism here simply for his match winner at Wembley, I’d quite happily hang a picture of that moment on any wall I could find.

But let’s not panic, after all, many of the players leaving didn’t fill themselves will glory last season.  A lot of deadwood has gone.  Michel, Parnaby, Phillips, bit part players at best. Ridgewell has been linked with a move away but I think for the sorts of sums that have been quoted (circa £3m), we’re better off hanging onto him. Scott Dann and Cameron Jerome look set to be heading out and that could see £16 million and Ricardo Fuller heading our way. A potential stop gap in the financial black hole we currently find ourselves with and another striker who could do a job at this level. This could see some of our other top players staying put, at least for now anyway.

Currently, it’s very quiet with regards to Foster, Ferguson and Johnson, who are yet to set their stalls out either way, despite being linked to several clubs. It is expected that Zigic’s 50k-a-week demand won’t be covered and if we could get our money back for the 6’7 ½” striker then I will doft my cap to the man, thank him for the cup final goal and say farewell. Jiranek, who to be fair to the lad, took his chance when he was given it following Scott Dann’s injury, did prove himself to be a useful player, but he put himself on the first plane home after the Spurs game, shinning his Carling Cup medal as he went. Bowyer was told he was not going to be given a contract extension before the end of the season and has also left, a foolish move in my opinion on Blues’ part, as he could have a done a job for us in the Championship.

McFadden’s another one, injured for the majority of last season. He’s currently in talks with the Board and it is believed that they have offered him a less lucrative contract. For a player who struggles to stay fit, he’s going to be lucky to find a better offer.

Stevie Carr, Captain Supreme last season, has pledged his future to the club and it’s hoped others will follow suit now we have a manager who has already set his sights back on the Promised Land. Although McLeish signings, we have brought in Chris Burke and Marlon King.  While he’s never going to be a fans favourite, there is no argument that King knows how to put the ball in the net at Championship level . Chris Hughton has hailed the capture of Adam Rooney, describing the former Inverness Caledonian Thistle frontman as a “prolific goalscorer who wants to keep developing his game” and with Burke in to replace Larsson, the rebuilding has begun already.

Eck was one of the topics, which during his tenure, had divided fans. Now he’s gone there seems to be more unity within the fan base that, under Hughton we can really start to feel positive about the future. The man has been in this sort of boat before; he took a Newcastle team in ‘disarray’, united the dressing room and completely smashed the league to return at the first time of asking, with over 100 points and a team scoring for fun, losing just 4 games all season. Some will argue with the team he had he was expected to do that, but the pressures and egos of the dressing room were controlled and he made it look easy in the end. Other big teams have come down and simply dissipated into the abyss; see Leeds, Sheffield United and Southampton. Hughton didn’t let this happen to Newcastle and it is hoped he doesn’t let this happen to the Blues.

We know his challenge, and I don’t think anyone has any delusions that this coming season is going to be anything but difficult for us, but we have hope once again.

There is still no doubt a dark cloud is hovering precariously above St Andrew’s, and things may get worse before they get better, but we’re Bluenoses, we’re used to this, Joys and Sorrows and all that.


Note: Since writing this article for the Birmingham City Fans Forum Blog Simon’s comment, ‘things may even get worse before they get better’ has come true and boy – how they have come true.

On Thursday, fans of Birmingham City woke up to find out the team’s owner was facing money laundering charges in his home of Hong Kong.

Carson Yeung, a Hong Kong citizen who bought Birmingham City two years ago, is accused of five counts of money laundering involving 721 million Hong Kong dollars, about £92 million. Few details were released, though the club’s Acting chairman, Peter Pannu, said Thursday he believed the investigation was not related to the club.

Yeung’s case was adjourned until 11 Aug. He was released on bail of 7 million Hong Kong dollars and ordered to hand in his passport and report to a local police station three times a week.

Thank you

Simon

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