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Momentum and Change
Judging by the way my twitter feed exploded yesterday after the announcement made by Peter Pannu and Birmingham City there are a lot of fans who want to know just who is behind this British/North American consortium who are in negotiations for the club – which if one considers the protracted nature of the sale of the club is understandable.
Needless to say the rumour mill has also exploded into overdrive with various people declaring who the interested parties are. What surprises me is I’ve been texted by a few people the same names behind the bid as the one I thought it was prior to the announcement – although the nationality does not stack up with “North American” – which demonstrates that at best there is a lot of information about the bid we do not know and at worst someone is leading us a merry dance. Speculation is all well and good but I’ve always urged people to be sceptical of it and I think that advice still holds.
I was interviewed by Franksy (1 hr 22 mins in) on Radio WM yesterday evening and I was asked if I thought the news that it was a British consortium was the best news – that the club was going to return into local hands as it were. It surprises me that so many people are buying into the whole “foreign owners are rubbish” argument; I think nationality is a red herring – sure, there have been foreign owners of clubs who haven’t grasped the culture of football in this country but there have been British owners who have annoyed fans too – look in our own history for that sort of thing.
What is absolutely key is whoever comes into the club is ready to invest and invest quickly; I would hate to see a situation like the one at Leeds where a new owner has come in, quickly got scared about the state of finances and started making further cuts (closing the training ground, laying off staff etc). I think it’s also obvious that whoever is negotiating with BIH need to get a move on because the clock is ticking before the start of the new season – for Blues to be competitive in the Championship next season we need to invest in players NOW – the good Bosmans are already being snapped up as we speak, with players like former loanee Federico Macheda signing for Cardiff among them. Lee Clark and his staff have a list of players they want to bring in but no financial wherewithal to do so; at this moment in time I don’t think they are in a position to bring in anyone – not even the cheapest of players and it can’t be easy for the football management side of things when you are operating in the absolute dark – that has to change.
The last few days have been good – we’ve seen some movement and things are happening. It’s imperative now that momentum isn’t halted and that within the next week or so we will see further announcements heralding changes at Blues.
Tags: BIH, Federico Macheda, Lee Clark, The Takeover
87 Responses to “Momentum and Change”
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I agree 100% Dan. If we should have learnt one thing from the BIHL era, it’s not to believe anything until it’s signed, sealed, and delivered. We must remember, these are only talks, and they can break down easily. We are seeing movement, but until I can see the signature on the deal, my money’s still firmly in my pocket. But it does have to happen now, or we may be kissing goodbye to the Championship next season before we start!
no way the hong kong cowboys are getting my money.
like them i will buy my ticket in “tranches”
one game at a time.
i say every blues fan should do the same, until the new owners are in charge of day to day running of bcfc
Good plan I like the analogy ….. Purchase tranche by tranche however I think it won’t be needed because the new investor will be given full control and once the deal is done your money will be going to the club and it’s new investors. A deal will happen one way or another
As you say we need money invested now. I have sympathy with LC, he may not even have a job when all this is concluded, but he has to carry on, as you say, totally in the dark. Some rumours are even suggesting he has applied for the Blackpool vacancy, you heard anything on that Dan?
When GSG took over the club was in a worse state financially than they anticipated, Leed new owner found the same and my fear is this will be the same at blues whoever the owners are.
From reading various reports around the web most are saying exactly the same but also urge caution as to the the news or lack of, from BIHL, the only person to make an announcement is PP, it has been muted he is trying to scupper one of the bids being considered to favour his own choice.
As we have learnt over the last two years BIHL have not been forthcoming with information and have put news out there only to come back and bite them. The last suggested investment being a classic, the company didn’t even exist, allegedly.
KRO+DNM
‘As you say we need money invested now’
Just so long as it aint yours eh?
What I do with my money is my business, I have and do invest in Birmingham City FC and will continue to do so, I will not buy into BIHL in any way or form.
You believe what you like but change the record as you are becoming boring.
KRO+DNM
Whereas you’re becoming funny. Saying we need investment but leading the charge telling all and sundry not to renew. I wont labour the point though everyone can see the irony of the remark pmsl.
Invest in Birmingham City FC lol
As Chris says, you really are a tiresome bore. Why don’t you give it a rest and engage in some useful debate for a change.
Not you again.
Useful debate lol with you? Mr Misery, everythings rubbish etc
No thanks
Ideal for me and everyone else on here. By the way I’m not a man or is that too advanced? The difference between a Mr and Mrs?
And you are leading the charge to give money to BIHL….
Be careful of making libelous comments…
KRO+DNM
Paul. I don’t see anyone else disrespecting your choice to buy a season ticket. That’s your choice. Neither should you disrespect the choice of others who choose not to at this time, which I happen to believe to be a sensible thing to do. I don’t encourage anybody else to feel the same way. And to suggest that people are any less of a supporter because of it, (which is my perception from your comments) is a tad insulting mate.
Yeah you’re probably right it just gets my goat.
Well said Andy. We want fans to unite not turn inward against each other. We all care deeply about our club, even when opinions differ, and hostile reactions to decent fans will just divide us.
I agree Mrs Crosby and I apologise, I shouldn’t lower myself to resorting to insults.
I have been a supporter of BCFC since 61, have travelled the country and seen some of europe, cried, cheered and at times, absolutely stunned by players, managers and supporters contributions to the cause.
OP is by far the best that has happened in recent years for the supporter of BCFC, we can interact and offer insight, often guided by Dan.
As in all walks of life we will not always agree, we will have different interpretations on information offered, what we should do is respect each and everyone’s input.
Because of some idiots Dan got in some hot water, most on here have accepted Dans request for intelligent and unbiased input….. Some seem to have been banished to the wilderness and others have been warned about their future conduct, and some…. well.
KRO+DNM
Couldn’t agree more Chris. I guess it will always be difficult to reason with unreasonable people who fail to recognise their own shortcomings in a reasonable way! Blind support for the club we love by way of st purchases at this particular time is fine for some but the reasoned arguments against cannot be ignored. Those choosing to wait are simply ensuring that they know what’s on offer before committing their hard earned cash. Whilst it seems good news is on the way and I sincerely hope it is if you look at the timing and the source it could be considered that blues fans are being courted to buy st’s on the promise of actually nothing concrete or irrevocable . I am sure the club will be sold but to whom , for what and most importantly when is yet to be unveiled. When they reveal all then maybe we can safely reveal our bulging blues hearts and wallets too.
My point exactly, I have never said I will not renew, and I will be renewing my ST. My point is exactly what you say, who to and when.
We have had so many false hopes and pipe dreams from BIHL and PP, we know the last parachute installment has already been procured even though it isn’t due till August. Hopefully this has been used to sustain the club financially to ensure all the contracts are honoured until June 30th.
If not then the administrator will be chomping at the bit, this is something BIHL cannot afford and will do anything to ensure it doesn’t, could that mean leading everyone up the garden path.
I do try not to be so cynical when it comes to BIHL and really hope that everything they are saying is true… I just find it hard at times.
KRO+DNM
He can’t see that. PP and crew love fans like Paul.
I also would like to point out that no one is saying ‘Dont Renew’….. we are just saying, hold fire until this mess is resolved, or until the season starts. No-one wants to give money to the (hopefully) outgoing BIHL, but im sure we would all get behind the team when there are owners in place that act in the clubs best interest (or at least do not appear to be corrupt or utterly bereft of moral fortitude)
Follow them away rather than home gives the strongest message.
Agree, good point. I want to ensure that my money is not being channeled to some obscure account in HK. Only way I can do that is NOT to renew. BIHL have already raided the Prem cash piggy bank and the transfer cash piggy bank. They ‘aint going to raid the Agent Mc piggy bank! A press release from the king of BS is not going to change my mind.
Doesn’t Jaspers Daughter live in America? Hhhhhmmmmmmm I wonder if?
HI Dan, I’m not sure what to make of your comment that you fear the possibility of “someone leading us a merry dance”…..and hope that wouldn’t suggest that BIHL may not be completely honest with us!!!!
I think we have heard the same name here Dan re the ‘North American’ side. I’d more like to know who the Brits are. You’re right to urge speed in these negotiations cos we need a whole new squad and that’s no exaggeration. How is Lee expected to do a job under these conditions?
If it’s a British consortium backed by North American money, couldn’t the Britishness of it be a sales trick to appease the supporters? It would not surprise me if at the press conference we find the consortium is fronted by Trevor Francis, Harry Roberts and Benny from Crossroads.
You mention all the debts at Leeds. With City I’ve seen an asking price of £32m, with a lower offer maybe acceptable. But what are our debts ? I don’t think they are that high. But say a grand total, including debts, of less than £50m for the club, the stadium, and maybe other assets sounds quite a good deal for someone. Other clubs are being sold for far more. Birmingham City FC have an awful lot of potential. Let’s hope someone has spotted that.
Bill, well said but potential in business acquisitions carries no value.
I don’t trust anything to do with PP or the rest of them they have had over two years to do this yet we still have nothing they said they had made their minds up who was going to buy the club and were going to let the fans know yet we had nothing. I think all this secret society thing rubbish the silence is still deafening in my opinion all these fans speculating on these supposedly rich owners coming in for blues is pathetic we all know it’s going to be someone dodgy if it happens at all.
My comment to yesterdays post was PP may be throwing a curveball to throw Dan (who I believed knew more than he admitted) off the trail.
Dan, without divulging info you have – Are you excited at the prospect of the takeover if it’s the entity you believe to be the interested/bidding party?
PP’s not that clever, mate.
No.
Hi Dan are you saying you didn’t know more or if it’s who you suspect you are not too excited by the prospect . I have to admit if it’s USA venture capitalists they will be looking to exit at a profit in about 5 yrs! They are not known for their philanthropy but for squeezing out the best financial results,
I agree with Dan that British isn’t necessarily best. We do need this to happen as quick as possible, however, Pannu’s statement inferred that there were still issues to be resolved and I’m sure that the phased sale creates technical problem for any buyer. With the best will in the world any deal isn’t going to get done for weeks and possibly not until into August, therefore, I think that we will be need to actually need to buy players instead of Bosmans as all decent one’s will have gone. Hopefully we would be in a position to afford the wages of more superior loan options too.
Am hoping any new investor would understand what he’s getting into and make immediate funds available to Lee otherwise the investment looks more risky. Am presuming this is obvious to them and funding would be released
I am skeptical about any comments from BIHL. When have they ever been straightforward or transparent? They will continue to cling onto BCFC with their grasping talons for as long as possible. Remember people that BIHL are incapable of filing accounts on time, have an ex-clairvoyant in jail, an ever absent chief exec, not to mention the ‘consultancy’ fees, HK pocket expenses etc. As they say, if it walks and quacks like a duck…
I think most share your scepticism mate but hopefully as this last statement involves communication with HKSE and a bidding party this one we can consider true.
What we really need to hear is the terms of the bid. In some ways it’s more important than the identity of the bidder. On the basis of the initial tranche bid will BIH hand over club policy to the bidders or give them just 25% of the decision making power in line with their equity? I am nervous that if BIH set up the deal in a way that they retain 75% of the decision making process as opposed to the bidders 25% it may make the new party reluctant to invest at the level we need.
No investor will come in unless they have an irrevocable agreement for full day to day control from day 1 regardless of the initial shareholding the investor will be also signing up to a time plan that sees them with 100%of shares at an agreed future date for an agreed consideration If this is not the deal then bidders will just walk away and let bih go belly up and buy the club off the administrator for buttons without any bih strings of course. Bih will lose their he share listing and get nothing into the bargain. This will not happen. If there are or were 5 bidders then a deal with one will be done. However Bih s negotiating position is weakening all the time as we near the season and st sales are at rock bottom.
St tickets are at rock bottom where have you heard that?
It’s not a fact but an obvious observation of a situation that bih will face
Just remember that Bihl have no money and are getting closer to admin which they wont allow Tic Tock Ti Tock Kro4ever
You’d have thought, wouldn’t you? But Blues have just announced a long list of vacancies they’re recruiting for, including:
Head of Marketing
Head of Sports Science
Senior Professional Development Coach
Either they weren’t really on the brink of administration or there’s a high degree of confidence that the cash-flow won’t be a problem soon. Companies on the brink of administration don’t hire new staff.
If they intend to diversify into oil and/or gas why would they need a Head of sports science or a Senior professional coach?
Do they really intend to give up BCFC? So many rumours and speculation.
KRO+DNM
These are BCFC vacancies, not BIH.
:)
Sorry my mistake.
KRO+DNM
Cos BCFC will need them after BIH are gone maybe?
Jeez.
I did realise my mistake and apologise straight after Dan.
KRO+DNM
Surely the club already has persons who occupy these positions, except for the coach (Beale having been promoted when Terry Mac and Faz left). So cash flow needn’t be increased?
Well – check out the BCFC website and see what you think. They describe the positions as vacant.
In my experience, high level of vacancies usually means lots of people leaving, to move onto better things and ensure some job security. Jump before yours pushed? I think we all know administration isn’t going to happen.
Maybe the wages have been adjusted?
They sure do sometimes Luke. I know of 3 recently in Australia that crashed and burned and were hiring up to the appointment of the administrator. They lure a skilled new recruit in in the hope they will turn things around, or just to save face and assuage creditors. ‘Business as usual’ is the most abused term in an administration scenario. Not saying that’s the case with BCFC, I don’t see any immediate signs of admin for the club itself; lets see after 30th May though.
Where your prove mate …..I feel you are cocking the gun but got no bullets
paul carter don’t u mean” voice of treason” dude u sound like a vile fan undercover wet ,pathetic and full of s–t.i fear for our future
Do you own a skateboard?
You been watching too much Scooby scooby-doo must be shabby in disguise
Wrong blog mate…..
Fans equally need to invest our club, if that is by st…..sugar daddy days are over imo…….
To pay PP’s dividends?
Surely you forgot to mention well done to peter for all his hard work…
You aren’t right are you mark…
I am very well Mr Crosby, how about you…whether you can accept it or not peter does not dance when you say how high.
He call the shots maybe you and Mrs crosby individually or together or two both might as well get over it….
Because neither of you can change a thing…..well unless either of you got some money down ya sofa…..thought not!
He call the shots which I might add he is paid to do….
Why would he dance? You’ve had your grubby hands down my sofa?
Let’s leave Peter out of this folks. It doesn’t help making personal comments.
As my Armenian mate says in business: ‘What are you? A buyer or a seller?’ Most of what I read here and elsewhere paints BIHL as a powerful negotiating body being woo’d by suitors with pocket loads of cash. THEY ARE BROKE! So much so, the arrogant gob*****s even say ‘we are only prepared to sell 24%.’ It’s poker being played by a grossly amateur bluffer. HKSE rules aside, who ever heard of a deal where a minority stake in an asset can be willingly purchased by sophisticated investors with no guarantees of ultimate control? With US Hedge/PE money, reportedly involved, there is no way on the Good Lord’s Earth that they will take a 24% stake without an irrefutable, cast iron, death by a thousand cuts if I renege, guarantee that they will get majority ownership – and fast. If I were buying I’d know the advantage is with me. The longer BIHIL delay, the lower the worth of BCFC. Wait until start of next Season with a 5K wage cap and the club will be worth even less than today. Get relegated or enter admin and it’s worth less again. The value has already been leeched out by the parasites, don’t you get it? The ‘potential’ is in the hearts and souls of fans, staff, players and future investors but carries no financial value. Goodwill in acquisitions is a thing of the past. Yes, Dan, we are being led a Merry Dance – Macabre. Sorry, I see more of the same.
Auss, it may be the presence of 5 different bidders which is strengthening their position and yes I know some people don’t believe there’s 5 (or even 1)
Paul, you talk a lot of sense despite what a couple of our fellow bluenoses say (and don’t we love ’em too!). Yes, the perception of 5 bidders is ego-boosting…but are they 5 bidders or 4 tyre-kickers? There’s only one offer,they say, and they won’t even tell us WHO it is or for HOW much! It’s a crock of ring-around-roses pseudo-business horse-shite that would be scorned upon with the FTSE, Dow or ASX.
Thanks Aus, can you answer me one thing IF there were 4 others interested now that they’ve been binned are they still bound by the confidentiality rules of the HKSE?
I can’t say for sure in HK law but NDAs (Non-Disclosure Agreements) are time-binding irrespective of outcomes (1 year; 2 years, 3 years). I would say anyone who has signed an NDA and breaches the terms is at risk of a hefty lawsuit.
Fingers crossed that there is no HK equivalent of an NDA and that one of the buggers comes out and makes a comment
That would be nice if it was honest and transparent. Shares finished -7.5% today; it’s hardly a sign of market excitement in an upcoming take-over eh? Someone knows something; I hope they speak up.
Paul
Um, of course there is. I know you’re desperate for information but that isn’t how business works, you’re going to have to wait. And if you don’t like it, well, it’s tough innit?
Why would that be the case just to say “I bid but lost out”? Paladini came out – no law suit against him. Seems like the 4-5 or whatever ‘bids’ are the usual BIHL garbage.
They weren’t – trust ME on this.
I’m sure too there may have been/still are 5 parties, maybe more, who have expressed interest. Who wouldn’t for such a fantastic football club? But when it comes to ‘the deal’ – that’s where I see people walking away if they can’t be 100% sure of control of the club by the start of next season. Negotiations can be protracted but at some stage a line in the sand needs to be drawn. Right now, we’re still being led that merry ‘danse macabre.’ Again, Caveat Emptor (let the buyer beware).
How do you know they’ve been binned Paul? If one bid fails they’re back in. Makes sense to keep your powder dry – Paladini blew it cos he couldn’t keep his mouth shut.
Well said Aussieblue I couldn’t agree more
I think we are close to getting our club back and we should be more confident and less sceptical. Some of us have been disbelieving for so long it’s become ingrained.
Less than 11 weeks till the season starts, should be pretty eventful 11 week’s hopefully!
Well I am very positive minded and believe further announcements will be made by blh…..whether some want to believe they are upfront. Or not.. They are…they following the rules, the accounts are upto date….I believe they will have the supposed information for the 30th of may…
Nice to see lan clarkson is of my opinion it may take two season before anything comes to fruition…..again that shouldn’t stop the fans continuing where we left off at Bolton……united as one getting behind the team supporting our next generation of young players instead of gritted teeth………we are the blues boys the greatest team the world as ever seen………..kro :-)
And Birmingham city fc
Daniel I rather see 3800 fans from our Bolton game with that atmosphere, passion,desire to sing thought out the game every single time down the stans , than 17 games of toxic and morgue like atmoshere…..now we have the momentum from the fans also they need to continue where we left off…..kro……only they can make that change…..
do you think they may be talking this imminent sale up just to get st purchases
I don’t think the Blues supporters are that gullible, I for one want to see some evidence and preferably a signature on the dotted line before I go racing down St Ans to renew my ST.
My decision only, not trying to influence anyone to do the same.
KRO+DNM
iam shocked that the buyers identity is a total mystery