Often Partisan

Receivers Response

Those of you who watched the video I recorded yesterday will know that I asked the Receivers a direct question – how much of the HK$153million that was to be loaned to BIH was to pay their fees. I have received a reply from them which while not going into detail gives hope.

Due to the nature of an email being legally a privileged communication, I cannot repeat it verbatim here (at least until the Receivers confirm that it is okay to do so). However, the email made it clear that the “majority of the loan” would come to Birmingham to be spent on the “football team”.

The Receivers have also confirmed that they have issues that require settlement in Hong Kong, and that they would continue to update the public via announcements to the Stock Exchange in order that all members of the public would receive the same information. Details of their fees will be listed in the next available accounts, which are due September 30 2015, the end of the financial year being Tuesday June 30.

I can only ever offer my opinion on this and as always I invite you to consider it and come to your own conclusions whether you choose believe or be sceptical. I myself want to believe that the Receivers are on the level here and money will be invested in the team; that we will see not only new players but new players of the kind of quality that will help us compete at the right end of the table – but being a doubting person actions speak louder to me than words and the sooner new players come in the less I will doubt.

As much as I loathe the idea of St Andrew’s being mortgaged to provide for Birmingham City’s future, I have come to the idea that this may be the only way forwards; that until the imbroglio surrounding the appointment of the receivers is settled legally and the Receivers are in a better position to push things towards the finalisation of a sale then money has to come from somewhere.

I guess it’s for the best that we are loaned money by a company that wish to do it above board, with securities in place rather than without security and/or paperwork as has happened with Carson in the past. However, I have directed the Receivers to comments made online by a variety of fans about the announcement as a reflection of the feelings among Blues fans so that they properly understand the passion, hope and fear that is out there.

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63 Responses to “Receivers Response”

  • AJ says:

    Thanks for the update Dan and good on you for chasing it up whilst others sit on their arses panicking like children

  • Blue Lizard says:

    Well done on getting a response from them Dan…..today feels slightly less s**t than yesterday after reading that ..lets hope they are true to word as my nuts are sore after repeated kickings
    KRO

  • Peter Bates says:

    That seems like good news Dan but action is louder than words lets hope hey thanks Dan kro

  • Jaffa says:

    Like i said yesterday,now watch us buy some players.

    • DaveP says:

      Get Joey Barton in. Despised by many (like Savage was) will become a Blues legend

      • alex T says:

        Great shout. I would love to see Barton at the Blues.

        Very good footballer with type of passion we would appreciate here and I enjoy listening to him too. Heard him on 5live last night…. speaks sense with passion. Maybe he will make a good manager or coach one day too!

        • Roger Jones says:

          Joey Barton****!!!?? As with a certain M King, there are some individuals whom some of us really don’t want associated with our club, neither would they be considered a good influence in the dressing room. Barton, in my opinion, is one. As for being a manager or coach, surely we want a good role model for youngsters and someone who is of good character. purely performance on the pitch (when not being sent off!) is not enough?

          • Tony says:

            You mean someone like Southgate? no thanks bring on Barton, I dont care about being a good influence I want a winner

        • Shirley Blue says:

          We don’t want Barton anywhere near our club. Violent scumbag who could easily wreck the team spirit built up last year. Very much up his own arse as well.

      • almajir says:

        No ta.

      • StaffsBlue says:

        There are two reason I wouldn’t expect to see Barton at the Blues anytime soon. 1) Wages. 2) What he said about us being relegated last season. He’d probably get dog’s abuse for that. :)

        We all know he can be a bit of a dick, but I have to admit, I’d love to see him down St Andrews, because you don’t get many players at The Blues with the passion for the game that he has. And let’s not forget, he can play a bit too.

      • Des says:

        Joey Barton, utter lowlife scumbag, my God we have had some baduns Marlon King still sticks in my throat but Barton yuk!

  • Raymond Goodwin says:

    Dan your the man, well done you keep up the good work KRO

  • rich says:

    Hi Dan so reading into that money is going to be released for players what is your gut feeling to the amount to be used. I understand your not 100% sure just your opinion from what you have been told. would be nice if at least 5/6 million maybe could be invested on players

    • almajir says:

      Rich

      I don’t know. I personally don’t think it will be that much at all – but I await being pleasantly surprised.

  • Colin Carberry says:

    As per usual, well done Daniel. You get to the bottom of things in a fraction of the time it takes the Press.

  • Big Al says:

    Not for the first time Dan this is great work, well done.

  • GoodBlueShoes says:

    Good stuff Dan. Keep it coming. I have got a good feeling about the next 12 months. Here’s hoping!

    • Bluepengin76 says:

      Top work Dan. Maybe the delay on signings has been Rowett waiting for the money to come in?, so that he can purchase the right type/quality of player.

      Sounds like top news but of course everything should be taken with a large helping of salt until confirmed.

  • Daddy blue says:

    That sounds great news well done Dan

  • duchess says:

    I personally dont see anything but positives coming from anything E&Y achieve. Clearly there is a person/business that has a genuine interest in the football club, any why wouldnt they? if Blues get promoted they pocket a share of £120M, no businessman in the world would not see that as an opportunity.

    The fact the loan has been secured against St. Andrews is no big deal, other than security, the ground and the land it posses is probably worth £200M+ so securing £12M against it makes sense until full control is assumed.

    I do not read anything into the name ‘Trillion Trophy Asia’ as if you look at the HK stock exchange and just how many businesses are registered the names always ridicuolus as to not mimic another company.

    Granted you believe they are Chinese Dan, and I would never doubt you for a second, but they could be from any country in the world and purely using Chinese business and models as to meet the criteria for gaining control of the listing, which needs to be done before anyone can say they own the football club.

    This is not messy, it is just huge business, and I believe whoever this is… they will be waving to the crowd at stans at some point next season!!!!

  • oldblue says:

    ” the email made it clear that the “majority of the loan” would come to Birmingham to be spent on the “football team”.”

    So over 6 million pounds could be spent on receivers fees. Nice work if you can get it !

    • almajir says:

      or could be spent on repaying debts, or a myriad of other things…

      • oldblue says:

        very true. a little transparency is probably more than we can hope for. it’s cynical i know, but i can’t help thinking that receivers love a business like a fox loves a chicken…

        hope to god i’m wrong…..

  • Hillfield Blues says:

    Thanks for this encouraging news Dan. Hopefully some descent signings on the way which was never in doubt all along for me.;-)

  • davieboy says:

    £5m or £6m on players? Get real people. Yeung and Pannu have left this club a mess and Pavlakis EY are trying to clear it up

    • Rich says:

      I only said would be nice if we got 5/6 million not that I was expecting that much DONT BE SO NEGATIVE

  • BhamCityJulian says:

    Very well done to you for getting a response from E&Y. I hope that don’t think you breached inspire referring to its contents albeit not word for word. I would be very surprised if they’d said anything to you that isn’t factually correct.

    I think this is the proof that TTA are football minded business people so we should be relieved about that. Now let’s see some of that £13m bing spent on the team to see what their promotion strategy might be.

  • BhamCityJulian says:

    Corrected

    Very well done to you for getting a response from E&Y. I hope that they don’t think you breached a confidence by referring to its contents, albeit not word for word. I would be very surprised if they’d said anything to you that isn’t factually correct.
    I think this is the proof that TTA are football minded business people so we should be relieved about that. Now let’s see some of the £13m being spent on the team so we can gauge what their promotion strategy might be.

  • DaveBCFC says:

    Would it be too optimistic to hope that some of the loan will be used for bringing in new players? All is quiet on that front at the moment.

    • almajir says:

      Dave – I assumed that was what was meant by it being used on the football team but we’ll have to wait and see.

  • Ginger says:

    Take no notice of the scare stories re: E&Y. I’ve said all along they have a plan in place and will execute it. I’ve heard they have got good people dealing with this because they know it is very high profile.Yes they will be expensive but our new owners will be aware of all of the costs. I know Dan has said it a million times and it’s hard but we must be patient. Once BIHL are back trading carsons share will end up mightily diluted and in my opinion he will accept some sort of pay off. But we shall see. Obviously the money coming our way will also have to be used for wages, signing on fees etc. so don’t be expecting massive multi-million signings but it’s a great step in the right direction.

  • duchess says:

    This may also put to bed the whingers saying GR was bottling buying players.

    Lets be honest Panos will know exactly what is going on and he has probably said, hang fire Gaz cause in a couple weeks we can sign our A list as opposed to our Z list!

    Why waste money on players when you know you have money coming in to buy better players!??

    I still think we will sign Fabrinni and Tesche and a Central Defender of better quality than Kiernan, plus one or two suprises maybe!

    5-6 players and £3-4M would really take us to the next level, and just think what a full GR season and another 5 wins would generate!???

  • Bob Pickett says:

    I have no love for Barton but he would make a huge difference to our team, I don’t care that he’s an arsehole I only care for the Blues, look what Paul Robinson did to Damien Johnson and he was soon forgiven – KRO

  • Preston Bob says:

    Good one Dan, if EY did anything untoward the reputation of their corporation will go down the pan so we must be patient and believe they are doing the right thing for the club. The investment from ‘Trillion’ probably was only released on the basis that they were given an exclusive position to buy the club. If I was going to invest heavily than I too would have wanted some form of comfort that I was not going to be ‘gazumped’. Seems we will have some money for players now and another plus is the decreasing influence of Carson. For me this announcement can only be positive.

  • StevieW says:

    Dan

    I take my hat off to you on this bit of investigative research, well done. Assuming it is a sincere Email from EY as I would expect then this is positive and perhaps will quell the irate attitude of many.

    It is all work in progress and good business.

  • Charlie says:

    Hi Dan,

    I am positive about this, hopefully GR was waiting for this before signing players, also the fact that Dimmi was not sold on cheap gives us hope for the future.

    Any timeframe when trillion will be making the investment?

    Cheers Charlie

  • bluenoserob says:

    Not so many months ago there were genuine fears that are club would fall into oblivion. I think we can be sure that that’s not going to happen now. If EY can keep us on an even keel for a while (even if it takes two seasons) and bring in funds to improve us even a little on the pitch that will do for me.Not having to worry about the future and a half decent team of brummie battlers on the pitch with GR in the dugout will do me.

  • rhees says:

    I am optermistic about all this I’m feeling much better

  • Richard Granfield says:

    Just a point regarding the 2 year exclusivity period. This a MAXIMUM of 2 years. It doesn’t necessarily mean it will take 2 years for the proposed takeover to take place. Let’s hope that it will take a much shorter time period before new owners are up and running.

  • Saltash Blues says:

    Hope Trillion trophies asia have a trillion pounds lol , be very interesting to see who these people are we all want to know and its unfair to associate them with Carson , we have to wait till the smoke clears and all will be revealed -give them a chance they have stepped up to the plate.

  • stevd says:

    Oh what joy being a bluenose one min we all worrying nex min some positive news but ive been a fan of blues over 30 years now and we never seem to do fings the easy way on n off the pitch but excellent news today as for players dont worry gr will get that rite so onward and upward for the new season

  • peter bates says:

    Good to see the club are prepared to rebuff offers for Clayton Donaldson so more decent news hope gr gets the support he deserves and all doom and gloom can be removed we are not there yet but little light is better than none kro

  • Retired&Weary says:

    I wouldn’t be against Barton personally, although I doubt we would get him. As an alternative, how about Leon Britton, Swansea? Experienced Barry Ferguson type player.

  • Tony says:

    Feel better today now than yesterday.if the majority of 13 mill comes to blues surley ant least 7 mill for players.

  • ChrisG says:

    If they gave that money to me instead of spending it on transfers they could 110% guarantee they would make one supporter happy!!!!!!!!!!

  • Thanks for that Dan , and just maybe , this TTA may be what we have really needed, what happened to the Tony Adams that came to the fore when TTA first came to light Dan,

  • BND says:

    I have to say I am highly suspicious of the whole situation. This off shore company whom nothing is known about plan to borrow money against the ground and have 2 years to make up their mind whether they want to proceed with the sale of the club. But as I understood it the club is not the main attraction. It is the Hong Kong stock exchange listing. So if Blues get promoted within the next 2 years the club will be sold very quickly given the amount of money that will come in. But if we dont go up and they decide not to buy the club and want their money back then goodbye St Andrews and possibly the club as we know it. I have never heard of a business arrangement like this before. I am a Blue nose so a pessimist by nature but this is madness and will end in tears.Some might say we have no choice and that might be right but this is a huge gamble by E & Y.

    • ChrisG says:

      I think it’s not so much that they have 2 years to make up their mind, from my understanding it could take that long to push the whole deal through due to the legalities of the situation with BIH etc

    • almajir says:

      BND they’re not borrowing money against the ground though, they are LENDING money to BIH with it secured on the ground.

  • Lango says:

    It is concerning that pre-season is approaching and we are yet to make any additions. I just wonder if GR and Panos were holding out for TTA. Maybe they saw no point in signing anyone knowing that some money was coming, more money = better calibre of target

  • Mitchell says:

    All comments have their merits and all make good points. To me the only clear picture of where we are at will be the first signing.This will show the supporters of the calibre we are now targeting. Also the length of contracts new players will be offered. Perhaps the days of 3/4 loan players are over,but on the other hand they may not. Intriguing week ahead. My preferred choice of incoming players remain the same:- Byrne and Hylton (Swindon) Tesche and quality Keeper. No Fabrinni thanks.

  • Adam says:

    Dan, I’m really pleased I have someone who is trying thier upmost to uncover some information for the fans who have had to put up with the murky waters that have troubled our great club these recent years. Keep up the good work buddy.

    Talking of the fact the money may be for team investment, could the recent lull in transfer activity and the silence surrounding players we thought were coming in be born out of the fact Rowett has now been able to set his targets higher and start looking afresh in the transfer market? It may be what is happening. If it is, I still hope Robert Tesche makes the move to St.Andrews permanently.

  • BND says:

    Apologies regarding my mistake regarding the borrow/loan etc but it does raise the question How do you know they are not borrowing money to lend to Blues? We know nothing about them at all. Short term there is money available -long term who knows. KRO.

  • Art says:

    Great news Dan and well done.

    Let’s hope they deliver.

  • macca salop blue says:

    Sorry but I am sceptical and someone please reassure me if I’m missing the point, but if Trillion Trophy Asia are a real viable outfit then why do they have to rely on loans ?
    If they were creditable then surely they’d already have funds in place without any loans. Even with cash surely there would still be securities against any cash down payment. I get the impression they currently don’t have the funds but in time (like within 2 years) they “might”, and given E&Y assurances that they will be better placed financially. That’s the way I read it anyway. It’s the word “loan” that fills me with dread. Loans to me means you don’t have the cash (yet). I guess some mega whip round on a major scale is taking place so the cash is there in the future on a bigger scale than BIHL could ever muster up. Does anyone else figure this out same as me?

    • almajir says:

      You are missing the point

      They are LENDING BIH money, not borrowing it. It shows they have 12.5million to hand in the first place.

  • Mario says:

    Thanks Dan,
    Think we’re seeing the end game for Caron and pannu now!
    I wouldn’t be surprised to see a bit of money invested into the club to fight for promotion?

  • philanza says:

    I am no business expert by any means but
    ,
    It sounds like a shrewd bit of business by trillion who have invested money into the team to see where GR can take us without commiting to a takeover, as if we were to get promotion they would be in the money. or if we didn’t they will still get the money back as its a loan,

    Would be interesting to see if we went up would BHL accept a bid or reject one and go it alone.

  • […] the survival of the holding company for a while – and hopefully the Receivers will be true to their word in that most of it will come to the club. The loan should be evidence that TTA are trying their […]


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