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Birmingham City Should Be Bust

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Blues Chairman Peter Pannu has denied rumours that any club takeover is imminent. However he has said that there are interested parties that are in discussions with Yeung.

He has himself confirmed to the club site that Yeung is in talks with Asian interests about them potentially buying the club. It is clear that Carson Yeung is anticipating selling the club, maybe the time its taking to sell is even beginning to worry him.

The due diligence we heard of a couple of weeks ago was by an unnamed third party and the Chairman said they did not then follow that up with an offer within the agreed time frame. From what I can tell, a party wanted to seriously look at acquiring Birmingham until they had a look at the clubs books and decided against it, this means that the club needs some serious investment to clear its liabilities.

For that to happen, a buyer is going to ask, what is in this for me? well that is going to have to be the asking price, yes Mr Yeung that’s right, you aren’t going to be getting a lot of money for this wonderful club.

He went on to urge some sympathy for the fans and indeed manager Lee Clark, pointing to Carson’s ‘predicament’ as the reason for the shoe-string budget. I don’t begrudge Mr Pannu’s sincerity here, why not? because until this court case I really didn’t have any problems with the ownership, in fact I liked them and loved the time the club was enjoying.

The only thing I ever got upset about was Pannu attempting to unsettle Mcliesh by putting in the media his demand for an immediate return to the Premier League, a clear pander to the fans that cost the club and its fans the most successful Blues manager in recent history.

After being relegated from the Premier League in 2011 the club have admitted that the only reason BCFC is not a bust club is due to the player sales that have been outgoing. These include the likes of Curtis Davies, Nathan Redmond, Jack Butland, Ben Foster, Scott Dann, Roger Johnson, Liam Ridgewell, Jean Beausejour, Sebastian Larsson, Cameron Jerome and Jordan Mutch. Did I miss anyone? it has been an absolute out pour of talent.

Pannu admitted that at one point the club owed HSBC banking group £8 million, owing an external creditor that amount of money will always put the clubs assets at risk rather than its players as they are much easier to quantify.

Any buyer will do is what I am consistently told by the fans, and I think that is because they are worried. So worried that the club will fold that now we seem to be willing to get into bed with just about anyone and you know what? that’s what worry’s me.

I want a buyer that is stable, legitimate, trustworthy and operates with integrity. A man can dream!

Keep Right On.

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