Birmingham City receivers now weighing up seven takeover bids
BIRMINGHAM City fans could soon see their club freed from years of boardroom turmoil after the club’s parent company announced it had received two more takeover offers on top of the five already confirmed.
In a statement to the Hong Kong Stock Exchange, receivers Ernst and Young who have been running Birmingham International Holdings Limited (BIHL) since February said it had “offers received and being considered”.
The receivers said they were still in the process of assessing the merits of the offers, but hoped soon to come to an agreement with a potential investor.
Ernst and Young took control of the Championship club’s holding company to help settle internal disputes between the fractious board, which was split between support and opposition to former owner Carson Yeung. Yeung, club owner since 2009, is currently serving a six-year prison sentence for money laundering.
Although Birmingham have trimmed their wage bill since relegation from the Premier League four years ago, the Football League says it is content the club has enough funds to see out the season.
EY intend to enter into an exclusivity agreement with a potential investor shortly.