Often Partisan

OP Video Podcast – E&Y – One Year On

On this day last year Birmingham International Holdings announced to the HKSE that they had successfully applied to go into receivership. As time has gone on, there have been uncertainties as to where the future lies and I’ve tried to answer those questions here.

The key questions:

  1. Why is nothing happening in Hong Kong?
  2. What happens if Carson gets his conviction overturned?
  3. Will anything change in HK if by some miracle we get promoted?

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59 Responses to “OP Video Podcast – E&Y – One Year On”

  • Trevor Honnor says:

    I can’t see the video right now because I’m at work, but the 3 questions you mention above are the same three I’ve been thinking about myself in recent weeks.

  • Suenoble says:

    Thanks for that, very informative but for Gods sake take that Villa hat off!!!!!!!

  • rhees says:

    Interesting Dan thankyou

  • Tony E says:

    Hypothetically Yeung has his conviction quashed, resumes his position of power within bih. He then sacks Panos and re-instates Pannu on a vastly inflated salary paid for by the club. That would be a drain on the clubs resources, he also appoints a new board of his friends and family also paid for by the club. Apart from the chaos it would cause as Rowett and Tatts would almost certainly resign, these friends would be a direct drain on the clubs finances in addition to any player expenses. I really hope EY can produce a proverbial rabbit to prevent this doomsday scenario.

  • Dan if blues get promotion , will the collateral loan on Stan’s be paid back as soon as we get the television money do you think ,

  • fingles says:

    Thanks for the post Dan.

  • Am I right in thinking that if Carson wins his case and moves back in, he will want to pay back the loan on Stan’s not wanting to lose it , but will the asset to the community tag be reinstated by the counci again , I think this will need to be sorted out by blues trust before it gets that far to stave off another costly process on blues behalf ,

  • Mitchell says:

    Daniel.your efforts are commendable. However,what a mess it all is especially if CY walks free. Simple minds if you like but the only suckers in this is we the fans. Enjoy GR whilst we can as I envisage a free CY returning to attend to unfinished business and the mind boggles as to what that might entail.

  • Gerard says:

    If and only if CY returns even with millions to spend it is goodbye from me after nearly 60 years support and for sure goodbye from GR his team and Panos – putting the club first you may say is all that matters , but as I taught my children never ever let bad people make a living out of you- so I will stick to my own principles if CY returns on that you have my word and not hypocrisy .

  • ChrisG says:

    What I don’t understand is IF Carson wins his appeal, what then happens as regard to TTA?, will there then be another battle for the control of BIH/BCFC or do they all work together?.
    This could open up a whole new can of worms as E&Y were brought in against CYs wishes while he was in prison & it was them that agreed a deal with TTA. Is that the reason TTA were given 2 years to complete the deal as a kind of get out of jail (excuse the pun!!) free card in case CY does have his conviction overturned?.

    • almajir says:

      There already is a scrap between Carson and TTA brewing…

      • ChrisG says:

        It doesn’t surprise me in the least Dan. I’m wondering if E&Y jumped the gun a bit as far as TTA goes. One thing’s for sure i’d hate to be the one to sort this mess out!!!. I honestly believe sooner or later CY will be back in control, I mean, you don’t just kiss off the kind of money he’s spent, and talking of money, does he have any left?

  • ACV still on Dan that’s great news if it’s paid up.

    • almajir says:

      Well, it is… and its not. All the ACV means is that it can’t be sold without it being offered to the Blues Trust first – still got to come up with the dough to buy it.

  • Bluey says:

    There are way more questions than answers as it stands.I have always said that CY was going nowhere and i fear that is the case.What does confuse me is the TTA situation.What exactly are the nuts and bolts of the exclusitivity deal they have been granted? I don`t understand how things may (or may not) develop when the time is up.Do they have the right to buy the club at a set price?

    • almajir says:

      Exclusivity means they can negotiate a deal with EY until June 2017 without fear of anyone else butting in.

      • Bluey says:

        So if CY gets off they`ll be struggling to take over if he and his cronies dig their heels in. I have had a feeling for a long time that a change of ownership was unlikely and i suspect this will be the case unless TTA blow them out of the water with an amazing offer. Also if we were to get promoted why would Yeung sell up when we suddenly become a cash cow for him. I really hope i`m wrong but strongly believe the status quo will be maintained when the exclusivity agreement runs out. One final point….who gave TTA the 2 year period of grace because if our esteemed leader is exonerated surely it becomes worthless?

        • almajir says:

          Bluey

          It’s not about money – I don’t think it ever was. If Carson loses the appeal (and some think he will), then he really does have an issue in hanging on. If he wins, they’re trying to get him busted for what he did while at BIH – that’s where the game was.

          As for the two year exclusivity period – who do you think gave it to TTA? It’s not hard to look at past announcements and see what happened – ie Ernst and Young solicited bids, Ernst and Young are negotiating and therefore they have given them the two year exclusivity period. It’s not worthless if Carson gets acquitted for the reasons above, it’s just a bit more of a struggle.

          • Bluey says:

            E any Y have granted the 2 year exclusivity deal. Fine but where do they stand if CY gets off and takes back his place at BIH because surely he`d have never given TTA that agreement.I `d like to know if EY`s role continues in the event of an acquital and, if so, on whose authority?

          • almajir says:

            Carson can’t do shit – remember he’s already challenged in court and lost…

  • Mitchell says:

    Whichever way one looks at it-if CY can overcome the last few years then I am sure he can account for minnow like TTA and EY. No one really felt CY would walk away from Blues,it was only wishful thinking that he would. Daniel has not revealed any new movements today but for him to feel that CY could wal free is a bit of a reality check. Perhaps we all needed this instead of getting carried away by new horizons.

  • naughtybooa says:

    Hi Dan

    This is a first time post although I a regular reader.

    What puzzles me is that carson owns 27% so someone else owns 73 %.

    Could,t they out vote him.

    • almajir says:

      The other 73% is owned by people from his bro in law (14% or so) to various members of the public.

      The last EGM, the only people to vote were Carson and his bro in law.

      Sad fact is most don’t vote.

      • Bluey says:

        The ones that don`t vote obviously aren`t too bothered who owns BIH or the club. They surely can`t be Blues fans.

        • almajir says:

          You can’t say that mate. Some people just go for the 11 v 11 in the middle of the pitch and don’t give a monkeys what it takes to bring that about.

  • I thought the appeal by Carson yeung was for part of his conviction surely if he walks free he has still served a sentence for one of the following offences of dishonesty, corruption , perverting , or a serious breach act in what he has served as punishment , so surely will not be able to take over the club again ..KRO

  • Andrew says:

    I would like to know if yeung really does have that much control over bcfc as if he were to be set free from charges tomorrow would he actually be able to do as he like at bcfc, not so sure.

  • And surely if the courts find carson clean of all charges Birmingham city fc could sue the Chinese authorities for their actions being responsible for the club having to sell around £55 million worth of players , which embarrassingly is around what Carson was accused of laundering , …KRO

    • BhamCityJulian says:

      They couldn’t take the TV out per se. They could declare a dividend as part of the 2016/17 year end distributable profits which would mean they’d receive it during spring 2018 at the earliest.

    • BhamCityJulian says:

      HK courts do not owe a duty of care to BCFC I expect. I guess CY could sue them

  • Mitchell says:

    I tend to agree with Bluey that the TTA exclusivity period of two years would appear worthless if CY returns with his 27% holding. Are we really missing something? It does appear that as we move from month to month the signals we get are that CY will succeed and the current conflict between him and EY/TTA will only render one winner. With Leeds and Rangers and other problematical clubs we can see generally what everybody is up against-with us we enter quagmire and total confusion that even the most knowledgable like Daniel really cannot predict a decent conclusion.

  • Euston 9.18. says:

    If Blues did go up up to the Prem.
    What if the share holders of the club say stick with the players you have.
    We the share holders of the club fancy a share of the tv rights money.
    c’y & all ?

  • BhamCityJulian says:

    I would not be surprised if Gary has an escape clause with no notice period in the event of CY returning

  • Carson’s hanging on like a leach sniffing super glue , may if I remember rightly be something at the start to do with all the bragging rights he made in Hong Kong of how much wealth he was going to make from the club , he could be out to make amends and save face

  • Stephen says:

    There is a difference between “not guilty” and “failure to prove him guilty at this point in time” What will happen if E%Y have discovered damning evidence through their audits? What if the Chinese authorities have fresh evidence against CY? Pandora’s box could still open.

  • I think the Chinese would love to keep a guilty verdict on CY Stephen with this case going on longer than “Dallas ” but failure they will avoid at all costs with the Chinese wanting to buy into Europe , so will they let Carson go to prove he can be a success at this club , or will their sense of justice find him guilty and let some other consortium make a success of the club , much likely chinese with very wealthy Chinese now being interested in european football . …oh to dream ..

  • AdamTrueBlue says:

    I might be wrong, but I thought E&Y were court appointed to oversee the day to day running of Bihl because of the mess it was in and bad business practice, so if Carson walks frèe unlessss he gets the courts to remove E&Y then nothing will change, and to succeed he will have to prove something he was incapable of doing first time round, then it wll be a waiting game of who can outlast the others?

  • I should think that that is only a temporary situation till it can run itself Adam TB , but it does if right point to which end of the court they want to serve ….

  • .KC says:

    Is this the normal time for season tickets to be launched for next season or is there a fear if they leave it and CY returns there will be a drop in sales ?

  • Dave Mann says:

    Well there frozen for next season which means that IF we make it though the playoffs to the premiership they will be a bargain investment , get in quick I say . KRO

  • AdamTrueBlue says:

    What ever the outcome of the shenanigans labelled legal process, I can not see the fans giving CY a welcome if he ever shows his face at Stans.

  • Dave Mann says:

    ” we don’t care about Carson… ” is sung at home and away games so vigouresly that I think he would be silly to even contemplate it to be honest … But from what we’re told is us fans are so fickle so would be very interesting one thinks. KRO

  • Obi Martin’s to shanghai , let’s hope he nurtures the dream in the China press ,

  • Andrew says:

    wonder what fans would say if carson suddenly put millions in to bcfc

    • Dave Mann says:

      Where did that money come from ? .. Propably Andrew . KRO

      • Andrew says:

        Mmm didn’t hear them say that before! But there a first for everything

        • Dave Mann says:

          We didn’t no is reputation before did we !! mmmm ! KRO

          • Mitchell says:

            Hypothetical I know Dave-but interesting nevertheless. Just how many fans would genuinely deplore CY returning with a promotion busting budget . Morals could overcome temptation maybe or grab the hand off? Big deep down dilemma for fans. I know it is not commendable but the older I get I have become less sympathetic with the world in general especially justice and firmly believe the meek do not inherit the earth.

    • Bluey says:

      Andrew a long while ago i suggested that CY was not going anywhere and we may as well accept that.I also felt there might come a time where we have to move forward as a club and try to put the past well behind us.Like it or not CY is likely to be in charge for a while and if he is i hope he can find some investment.

  • It all could be a scam blues have spent 57 years in the premiership and West ham this season have just made 58 years in the premiership …double drat ….


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