Birmingham City Could Be Sold Within The Month

Reports are surfacing that Gianni Paldini is ‘close’ to completing a takeover of Birmingham City Football Club, a takeover saga that began in 2012 – according to the Daily Mirror.

They are interested in taking all 96% of BIHL shares and installing the Solihull based businessmen as chairman. A full takeover is what is planned and that is the best way to do it, I don’t think there are any Blues fans that want any instability still in the club and that means removing Yeung and Co totally.

The last time reports of an offer went public Pannu denied the reports. The snub led to bad feelings about the deal and the patience of the Italian consortium seemed to wear thin. Thus far we have heard nothing from Pannu and it is going to be interesting what he has to say, will he throw another spanner in the works? or finally allow this club to survive and compete.

December 2012, Pannu met with the Italian’s and didn’t finalise a deal. This was a hopeful period in the past, a lot of fans (including myself) were hoping we could get a deal done to prevent the loss of key players.

The Mirror are reporting that now Yeung has pushed the sale of the club up and it is moving forward, discussions have been restarted. The Hong Kong tycoon paid £84 million for Blues, hes not going to get that back, but I think that has always played a part in delaying this sale, Yeung was played and we all know who by!

Sammy Yu lead a consortium some time ago who toured St Andrews and then pulled out of a deal. I wasn’t too concerned with this at the time, everyones favoured buyer has always been Paldini and his Italian backers.

We all watch on, quietly excited but with every bit of self experience telling us that this time won’t come through either, I would definitely back the Paldini ownership of our club.

UPDATE – The Birmingham Mail claim to have a source in the club saying that a takeover is some way off.

Basically they are reiterating what Pannu’s statement said last week, that there are interested parties, nothing is imminent and Yeung wants to sell part of his 26% in BIHL and not sell BIHL’s 96% in BCFC. He basically wants to remain a party in the club through BIHL, surely this means he intends to remain, at least in part, owner of Blues?