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What’s Going On – an OP Editorial
I’ve been asked by a few people via the comments on articles here and by email what my thoughts are on the developments with regards to Hong Kong – to wit the resignation of two executive directors and the news that money has come into the club from the parent company. I’ve had some time to think about it now, and this is what I think. Please note unless I where I point out otherwise this is going to be speculation on my part and shouldn’t be treated as gospel truth.
Despite the potential sale of Jean Beausejour to Wigan Athletic, the vibe I get from the club is good. The influx of cash (as reported by Colin Tattum here) has lessened money worries, and the club are in a position where they do not have to sell players. This doesn’t mean that they won’t sell anyone (as shown by the potential sale of the Chilean winger), but it does mean that they won’t be sold at rock bottom prices (as shown by the reported £4mil including addons price for Beausejour).
So the big question is where has this money come from? Of course, no-one outside of a few select people in Hong Kong and St Andrews know that – but I’m willing to make a guess based on a couple of facts.
Firstly – both the executive directors who resigned were brought on board at the same time as Yang Yuezhou. It would not be unreasonable to suggest that they were brought on by Mr Yang as part of a “bloc” to vote on the board to support Mr Yang; particularly as one of them (Hua Yong) works for Mr Yang’s construction concern in Qinghai.
Secondly – having made enquiries via the Hong Kong judiciary there is currently no further court dates set for the case involving the mortgage against Carson’s property on the Peak. A check with the land registry still shows that the property is in the ownership of Carson and there is still a mortgage in place. Whilst I am waiting for further enquiries with the HK judiciary to be resolved, it’s my impression that the order for repossession is in abeyance; someone must have satisfied the bank with at least a part payment.
One thing that is also true in Chinese culture is that there is a practice of respect for venerated figures. For example, a younger man may feel that he should do what he can to protect the image of an older mentor in the face of adversity – be it to take the fall for a failed scheme or to prop someone financially as two examples.
Couple all this together, and you reach my conclusion. I’m of the belief that someone connected to Carson has decided to help Carson – based on a mixture of respect for the man and the potential for a good return on the money (based on Blues going up). I’m also of the belief that Mr Hua and Mr Jiang have both been forced from the board to reduce the influence of Mr Yang in the boardroom and to give Carson more control of the company. Carson clearly has had some access to cash from somewhere because it would appear he is no longer under threat of losing his house; his other civil case is due back in court on 27th February (his birthday) with a motion to dismiss it. At the same time, Mr Yang is having difficulty raising money for another investment he has taken control of (Computech Holdings) with a share issue being delayed for a further month. Is he running short of cash and of respect?
There is one other thing that I think is noteworthy; which is the timing of the announcement that Mr Jiang is stepping down from the board. The announcement was made just after the closing of the HKSE on Friday. Now, I might be cynical in my old age but is it a coincidence that the announcement was made at the start of a five day shut down period for the exchange? Today was a public holiday in Hong Kong, and no doubt the next two days will be a little slower business-wise as people celebrate the lunar new year in the same way as we celebrate Christmas.
Needless to say, I don’t think we’re going to have to wait too much longer to find out answers – the transfer window closes on January 31 – coincidentally, the same day as a board meeting of BIH to approve the accounts from last year. If that meeting goes ahead as planned we should finally see the accounts by Febuary 7 – and maybe we’ll get a better idea of where we are and what is happening next.
Tags: BIH, Carson Yeung, China, HK, Yang Yuezhou
21 Responses to “What’s Going On – an OP Editorial”
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Almajir – an excellent piece of work as per usual. I think we have all calmed down somewhat since the summer (although I still cannot bring myself to listen to or watch anything to do with the Ginger one!). I just hope that whatever transpires that the club stays in reasonable shape enough for CH to get us back to the Premier League – I really do believe that with our recent run of form, The Saints getting the jitters and 4 of the top 6 still to come St. Andrews that we can go straight back up. Lets’ get behind the manager and whatever remains of the team and roar the lads onto something special. We can worry about Carson and surviving in the Premier League when we get there. KEEP RIGHT ON MY BLUE BROTHER.
The hong kong situation is far too complex to understand. it is bad enough trying to understand Company law here in the UK and I have financial and legal background but is even worse trying to understand things overseas. So best just wait to see what the final synopsus of the situation when everything is all over.
As for current finances at the club. Technically everyone at Birmingham is for sale should anyone take a fancy to any of them. The expediency of the Beausejour transfer is testimony to that. They are not even holding out and turning down offers now. its just a case of get anything you can for them, especially if they are on large wage contracts.
However none of the above matters because we have one of the best managers in the country, who weems to be able to get the best out of anyone he works with.
I’m sorry, but your comment about the Beausejour transfer isn’t true. If a team come in with an offer that matches Blues’ valuation of Beausejour – and believe me, I think it’s more than fair – then Blues are doing what other clubs would be doing, financial situation or not.
Noobloo Funny how you like to pick and choose, saying we accepted the first offer for Beausejour, however completely ignoring the fact we turned down an offer for Ridgewell. Love people that just use anything to bash the owners……….. Hmmmmmmmmmmm?
Perhaps your point on Carsten Yeung’s house not being under threat could be due to the fact that he has made drawings from did directors loan account ant Birmingham city, which must have been in a healthy credit considering his investment into the club. Hmmmmmmm
That would explain the need to sell players without holding out for a better price. Or it could be that they are sold quickly so that Chris Hughton has at least a week or so to find a replacement id he feels one is needed but i wouldnt put my money on the latter
Or it could be you’ve got the situation completely wrong.
Or perhaps i have closer links to the people at Birmingham than you know and i could have it right. You may never know :-)
As a real Blues supporter, you couls at leat get the owners name right… Hmmmmmmmmmmmm?
“we should finally see the accounts by Febuary 7 – and maybe we’ll get a better idea of where we are and what is happening next.”
This is when we find out we’re actually billionaires and Carson told McLeish to get us relegated for a bit of fun.
Or is that what Lerner said to him?
I’m shitting myself for when those accounts come up. This is crazy what football’s come to, when fans get delirious or enraged about the finances.
seems simple enough to believe that somewhere in hong kong or st ands the idea of getting promotion is now not out of the question.a simple decision to throw a few quid in now so no daft sales are needed.the idea is recoup the money and more come may when we go up.then the promotion money or at least some of it will fill the cash hole regarding jean b.at the moment he,s out of sorts.a left winger who dosn,t go outside his man but cuts inside to his right foot.a right foot he dosn,t have.if he stays i,d be happy enough but 4m is a very good price.ridge hasn,t been sold for peanuts has he?when you look at what scott parker went for-6m for an england international one day people will see the truth that the summer sales wern,t fire sales.they went for their proper market value.we sold heskey,pennant etc when were relegated before.people forget this.
I read a while ago that a wealthy chinese business lady helps out Carson and that she has already funded blues. Could this be where the extra injection has come from? Any thoughts?
No idea whatsoever
almajir,i posted earlier and its failed to show
spam filter got it, sorted.
was it that crap;-]haha
cheers bro
[…] Carson Legal Troubles… It’s typical, isn’t it? Yesterday I published a piece where I included something about Carson’s mortgage case possibly being resolved… and […]
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“What ever will be wil be if we go up or down via the play-offs at wembley i shall always remain a bluenose for eternity ” k.r.o.