Soccer Management Worldwide are apparently still interested in buying Birmingham City Football Club despite the delays from Hong Kong and the resignation of director Jeremy Wray.
The North American consortium surfaced some time ago to make a non-binding offer for the club. The group have completed all of their due diligence and are ready to deal. The reason it has not pressed ahead is because BIHL are set to lose their stock exchange listing if they become a shell company (without BCFC they would do).
News broke last week that Wray had resigned from the consortium. It was then speculated this may have something to do with the deal. The Birmingham Mail seem confident that this is not the case. The group are still waiting to do the deal and it is apparently being headed by Peter Day, who was deputy managing director at Birmingham for several years from 1993.
Jeremy Wray is apparently still apart of the company`s bid despite no longer being a director. The position was resigned due to personal reasons. As the deal is taking so long it is not surprising he has time to resign and be redeployed when ready.
The bid to take over the club is understood to not be taking part this season. With the Hong Kong Stock exchange investigating BIHL and Peter Pannu`s dealings. BIHL also do not know how they will be permitted to offload the club and keep their exchange listing. Until that is cleared up, the deal is not proceeding in the slightest.
Once they are informed of a method of sale that is appropriate by the stock exchange, the deal may then be agreed and pressed ahead with. In the meantime nothing is set to change at St Andrews.
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