Birmingham City confirmed yesterday that the day to day running over the club is to be unaffected by changes to the BIHL board and Panos Pavlakis continues to lead UK operations at St Andrews.
So what are the changes? In short, there are no remaining directors that are not themselves a receiver. So complete control has now been taken by Ernest and Young.
This had the wonderful effect of removing Peter Pannu from the company altogether. Now plenty has been said as to what this means for the club and the general consensus seems to be positive.
Does this pave the way for the club to be sold? Well it makes it easier for the receivers to do so, as they have entire control over the management of the holding company.
Is a sale close? I’ve not heard anything, but there are others far more in the know than me when it comes to matters in Hong Kong.
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Tom Ross has revealed that hes asked the club that question and been told there is nothing close. So at the moment I’m inclined to take the clubs word for it.
So what is the next step? I would imagine the receivers are still breaking down the information they have. Ensuring they can get to the bottom of every discrepancy before making any decisions.
Receivers typically are there to realise assets for their appointors. This would be to make the assets of the company into their most liquid form. So turning assets that don’t generate benefit for the company into cash.
So my guess, and it is a guess, is they are weighing up whether the club being sold or being held is most beneficial to the holding company. Turning BCFC into cash for BIHL seems the logical outcome, but we shall have to weight and see.
Meanwhile, Blues look set for a good solid run in under Gary Rowett and lets hope for a good solid conclusion to this ownership saga that has dragged this club through the mud.
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