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BIH Announces Possible Sale to HKSE

Birmingham International Holdings have announced in the last hour that two parties have signed non-disclosure agreements to explore the possibility of buying Birmingham City FC.

The announcement, which was signed by BIH CEO Peter Pannu states that the parties have been furnished with due diligence information and that as yet no binding agreements have been entered into.

This is the first concrete announcement from the holding company that the club is anywhere near close to a sale and represents a hope that something can happen in the next few months. Any sale would require shareholder approval and would need a further announcement to the stock exchange.

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  • Graham Woodward

    I’m one of those parties, I’ve offered a fiver and I’m gonna name the main stand “the shit on the villa” stand

    • alexjhurley

      You’ll have my backing. Attendances will double overnight…

      • Jimbo

        Can’t wait to see the opening ceremony ;)

    • Dan H

      Now that you’re a Dad you won’t have £5 to spend !!!!

  • Agent McLeish

    The interesting extract from the statement for me is…

    “To the best of the Board’s knowledge, information and belief, having made all reasonable enquiries, the prospective buyers and their ultimate beneficial owners are third parties independent of the Company and its connected persons.”

  • tamuffblue

    Anything that remotely signals the end of the Chinese Barbers hold on the club is more than welcomed – I believe that its a lot further down the road than being released but lets hope Pannu feels a lot stronger about the club than the cockney shysters did !!!!!!!!!!!

  • Bluenosesol

    Potentially a fantastic development. I note that the Birmingham Mail reports that due dilligence via electronic copy has been provided to the interested parties. CY complained that the due dilligence provided prior to his purchase was inaccurate and if I recall this led to some litigation. With the clubs financial reporting and accountability being called into question and concerns raised by PP himself, it makes you wander how dependable the due dilligence data is this time around??

  • Mark Y

    These developments could be the most important thing thats happened to the club in recent times. I just hope we get some owners who are commited for the long term and have the necessary financial clout. Even then you need a bit of luck (QPR being a case in question). New owners can give everyone an impetus. Remember that we became the unbeatables shortly after CY took over. However, I want to see sensible long term investment that is sufficient to get us back in the top flight and to be sustaianble to stay there.

  • Blueboy 88

    Cautiously Postive News…!

    The next hurdle is the big one, as we can be sure that Pannu’s lfriendship & loyalty to CY will seriously trump the best interests of BCFC..

  • David Mutchell

    I hope they are able to find the accounts being as they not been published for 2 years.

  • almajir

    DO NOT ASK ME WHO THE INTERESTED PARTIES ARE AS I DO NOT KNOW.

  • Paul Carter – The Voice Of Reason

    Is there anyway I can PM you a rumour I heard Dan?

    • almajir

      you can drop me a line – almajir@oftenpartisan.co.uk

      • Paul Carter – The Voice Of Reason

        Done

        • almajir

          I suspect your rumours may be slightly wide of the mark…

          • Paul Carter – The Voice Of Reason

            All of them?

          • Dan H

            Did I read somewhere that there was a link to one of the IPL franchise owners, or did I imagine that ?

            If that is the case it’s interesting to see that Ness Wadia owner of Kings XI Punjab went to the University of Warwick other contenders

            Mukesh Ambani Mumbai Indians & 19th Richest man in the world)
            Vijay Malllya Kolkatta Knightriders Owner of Kingfisher Breweries & part owner of Force India F1 team)
            Siddharth Mallya Royal Challengers Bangalore & son of Vijay
            Subrata Roy Pune Warriors & Part owner of Force India F1

            This lot seem to take their sport seriously so fingers crossed we get an owner with direct funds available

  • Pete

    Pannu has no reason to look out for the best interests of the club whilst selling it – it’s all about money. We just have to keep our fingers crossed that someone decent is interested…

  • Paul P

    And even better news, Owen Coyle available and Mark Hughes soon! Perfect timing!!

    • Blueboy 88

      Get your head up Lad…Pep Guardiola is available too :)

      • Bluenosesol

        And soon to be Brendan Rodgers and Paul Lambert!!

        • markg

          dont forget harry but lets get the guy we have at the moment until something happens

          • markg

            dont forget harry but lets get behind the guy we have at the moment until something happens

          • almajir

            If Harry Redknapp was made manager of Blues I would hand in my season ticket and do something else until he left.

            No joke.

          • Atahualpa is a BlueNose

            Hi Almajir

            It’s never good to speak about a position that is not vacant but let us break with protocol.

            In a parallel universe there is another BCFC with a managerial position available and new owners are entertaining fans’ views as to who they would like to see appointed.

            Who or what sort of candidate would you like to attract??

          • http://representingthemambo.wordpress.com representingthemambo

            What Almajir said.

            Redknapp is a crook. His role at Portsmouth should be a warning.

            He’s also a massively over-rated manager.

  • http://www.augustwindows.co.uk neal

    Lets just hope they are more realistic in their valuation of the club when selling than they were when they were buying it otherwise it could be more protracted than it need be!

  • BlueBax

    Well let’s hope any prospective buyer has a bit more class than the one at Leeds. Apparently he considers the Yorkshire club to be similar to a young Pamela Anderson; ‘In great shape with superb assets’!!! Nothing like filling potential fans with confidence.

    If Leeds are Pamela Anderson, who are Blues at this moment in time?

    • almajir

      Hilda Ogden?

      • Bluenosesol

        Nora Batty!!

        • Blueboy 88

          Peter Pannu is known as The Rhino …

          Thick Skinned & Knows How To Charge…..!!

  • motozulu

    Linda Lovelace?

  • James

    Bill Gates and mukesh ambani please!

    KRO

  • B25dave

    If we are talking about the proposed sale of BCFC not BIH then references to accounts etc are not entirely relevant as the Club have filed and continues to trade ?

  • evesham blue

    Sounds hopeful. I wouldnt have thought they would be given due dilegence if they hadnt put an acceptable ball park estimation in for the club. Pladini bid was dismissed out of hand.

    To be honest I know that you have to be cautious about any new owners but any new owner must be better for one simple reason i.e the club wont be hamstrung by owners who have their assets frozen.

    This means we can get players who are not 34 for a 1 month loan. This means Lc performance will be scrutinised.

    LC could well be on borrowed time now. Any prospective owners will want to get their own man on board and I wouldnt have though sacking him will cost an arm and a leg comparatively.

    Last throw of the dice – Diop signing?

    • Taz

      Quote: “you have to be cautious about any new owners but any new owner must be better”
      Be careful what you wish for, EB. when Wheldon bought us, all he could see was a supermarket occupying the place where we wanted the pitch.

  • Dave Sherlock

    I genuinely think pannu has the professional integrity to do what’s best for tge club. Keeping us afloat like he has the past 2 years the bloke needs a medal.

    • evesham blue

      I dare say he will get a nice little bonus for his efforts if the sale were to go through. Payment in kind. But I agree – he did a remarkable job in ensuring the club kept afloat and restructured.

      When all is said and done we did win a league cup and enjoyed europe under his tenure.

  • alexjhurley

    I pray to god its not paladini.

    • evesham blue

      Nah that bid was rejected and they would lose face if that were the case? Paladini mouthed off too soon. Think there are 2 bids in?

    • Bluenosesol

      Reports state that the 2 new prospective buyers have received due dilligence data. I would assume that as Paladini has made an offer that he wouldnt need due dilligence and hence is not one of the current stalkers. That is not to say that he wont counter offer once the bids are in.

  • evesham blue

    Just a thought…..how would you feel if any new owners wanted the team to change our shirts to red, change the name of the ground or the name of the club aka Cardiff?

    BEWARE!!

    • Jimbo

      Would you really be bothered, new branding over no club every day of the week. Imagine the stick you’d get at work if Blues went under, not to mention what you’d do on a saturday! It’s all for the love of the game, not the name.

  • Atahualpa is a BlueNose

    The Indian bid is not from an individual – it’s from a consortium.

    Paladini is not even an outsider at this stage.

    The so-called ‘mystery’ bidders are from the Middle East and the reason they were not mentioned in the statement is because they did not reveal who the group are and where their funds are going to come from.

    Do not know much about the other Asian bid – could be Thai could be Malaysian.

    CY through PP is driving a hard bargain and wishes to retain some small portion of the club if he cannot get the full price he desires.

    It is now down to the two Asian groups to decide if they wish to proceed.

    • evesham blue

      PP does drive a hard bargain. Perish the thought. CY still coonected to the club in some capacity. We need a clean break.

      I would have thought that financially Blues are fairly well run now (even better if Zigic would leave)so stumbling block is what is a reasonable price? 40M is way off the mark Carson

      • Atahualpa is a BlueNose

        Whatever CY has/n’t done, he still realizes that Blues can go very far under the right conditions. He may feel that he will regret it forever if he doesn’t make some sort of claim or deal with any possible sale of the club. He may wish to try and retain a seat on the Board through PP or his son Ryan.

        One thing that should be noted by the all the interested parties, Blues can be big in the West Midlands; no need to make us a ‘brand’ in Asia, Middle East or even the Caribbean for that matter.

        I do not believe a price of over £30m for the club is realistic under the circumstances – £21.5m clearing the debt to CY/BIHL and £8.5m for the BCFC. It has been stated there are funds enough to keep us ticking over until the New Year. Whether we stand a chance of going up and are in the mix for getting promoted at the end of the season will probably determine what sort of investment will take place in the short-term.

        Once we do go back to the EPL, that is what will make us a force again and put serious funds in the bank. Whether the new folks use it to our benefit is the question.

        • evesham blue

          Yeah a figure to pay off our debts to CY & BIHL. 8M parachute pyt. Money to pay off CY’s mortgage and a Brucey Bonus for PP and P45 to Clark and his cronies. 30M sounds a tad high to me tho

          As for investors. EPL is where the big boys want to be. Problem is you dont stay there without money to invest

        • Oldbluenose

          Atahualpa mate, Banging on my little toy drum again, !!. My fervant wish is that whoever does buy us,?. Will do an original Sully/Gold and Brady job with us, — Nameley, — re-build us from the ground up,!!!!.

          I, and most thinking Bluenoses, would like to see a solid base established, throughout our club, — Then we can think of bigger things in the future, BUT slow and steady as she goes, eh,!!!!!!!!!!.

          • Atahualpa is a BlueNose

            Hi OBN

            You are talking sense again mate; we would all love to see our club become established with solid foundations in place so that we could move forward on a proper footing.

            Let us have a first-class academy for our youngsters, a fully developed St Andrew’s, a solid management team in place that is not chopped and changed every few years (months if some had their way), a settled and solid team that gets enhanced every year by a class signing or two with a couple of youngsters and a potential raw recruit, that in my opinion is where we should be at.

            Problem is, some might view us a an easy touch to gatecrash the EPL with minimum investment and maximum return. I would also hope that we are not thought of as a ‘status symbol’ to some wealthy group to ‘use’ as a runner for other projects and businesses, something that perhaps CY may had in mind…

            For all that is said about DS, DG and KB, in some ways I felt that they did alright by the club and are not solely to blame for our current situation. I really cannot recall much complaints emanating from the stands when we were doing business for the likes of Hleb, Martins and Jiranek. Many thought that we should be doing so by right and not many questioned what any comebacks might be. We are where we are and it is pointless trying to fathom what might have been and what should have been done differently.

            Let us all hope that any new owners have the foresight for long-term planning and its benefits.

            PS. I was always of the opinion that, we the fans, should attempt to buy a sizeable stake in the club to try and ensure past mistakes were never repeated.

  • bluenoseneil

    I must be one of the very few that couldn’t give a shiny sh*t who owns the club. For me it’s always been about a committed, well-drilled, ambitious and successful squad backed by a passionate Manager and supported by a Board and Chairman who can help the club up to the next level, which for us right now is stability. Whoever walks through the door and has this, has my support.

  • Asif ashiq

    Hopefully fa pull finger out and do a proper fit persons check!!!! Dont want a consortium of fake sheikhs or poultry owned indians or mafia chinese. Dont want another portsmouth. Get club sold. Sack clark and mates and go for owen coyle or redknapp if ambitious.

  • evesham blue

    It does matter who the owners are. Then again you could argue it’s not our concern either. We are not selling the club. It’s not our money. We dont own it – we are customers. They could do what they wanted with it as long as they pay a price that CY is willing to sell at.

  • Paulo

    At this point in time, it feels as if things couldn’t get any worse for blues. However, we all know what could happen if we get a parasite for an owner. Then again, we could get someone who is genuine and for the most part, will consider investing in the stadium and the fans.
    Leaving LC and the performance issue aside, I only hope it’s the latter type.

    • Oldbluenose

      Reading The reply to my comment by Atahualpa, earlier on Paulo;, We 3, are of the same mind indeed,!!.

      We have NO SAY, in whomever wishes to buy us, !!. We can only hope and pray that they would have ” long-term ” plans in mind, and reap their ” profits ” in time to come, ?. By way of future glories of course, !!.

      Well, !!. — We can dream, cant we, ?????????.

      • Paulo

        Yes, I just read Atahulpa’s reply to you ..and I agree totally with both of you! All about foundations first.

        • Atahualpa is a BlueNose

          Fellas

          Have heard that it would be quite interesting if one was to pass St Andrew’s on the way home from work today….

          Apparently some representatives of the various parties may be shown around the offices and department’s of the club and speaking to various staff….

          • Oldbluenose

            Atahualpa mate, Unfortunately, I live in Villa territory, [ Erdington ] but I wish I was a fly on the wall, — So as to speak, !!!!!!!!!

          • Paulo

            Well, although I have the view of St Andrews through my kitchen window ..I dont have the pleasure of working near to it (ha ha). But I would be interested to know if those ‘representatives’ felt quite at home in Small Heath lol.

  • KeeprightCroydON

    I suspect that this also means that Clark’s job is safe for the timebeing. Although BIH can sack him, it would be difficult for them to appoint a succession as interested parties will want their own man rather than have someone new appointed before they take over, i.e, they will want to to the firing and hiring as a condition of their purchase.

    I recall during CY’s first attempt to buy the club he refused to rubber stamp Bruce’s new contract which is partly why Bruce left. Strangely he did not object to McLeish’s appointment at the time, so assumption is that he was favorable to it.

  • DoctorD

    I think it’s clever that there are TWO possible buyers lined up — it means PP can play off one against the other and get the best possible deal.

  • Macc lad

    Meanwhile Clark continues to waste money in wages on has been players. Bouba Diop? Why on earth would we want him?

    • DoctorD

      Because, according to bcfc.com, he has “impressed in training”.

      • Paulo

        ..don’t forget Ziggy will still pick up his fat paycheck even while he’s on a 3 match ban …but come to think of it …he was always the richest guy on the bench anyway!!! Never mind who LC brings in. As a certain ‘guest’ on here (Hudd fan) has said, LC will bring in players that are either not in the required position or over 30. He does this.

    • http://representingthemambo.wordpress.com representingthemambo

      An astonishing development. Clark is out of his mind if he thinks we need a donkey like him. His transfer policy gets worse and worse. And to top it all he is being allowed to do it…….

  • Blooflame

    Just a paper transaction…some would say the same parent con men will be in charge with new fall guys fronting for them…not saying I would because that is defamatory….but some would say that

  • Hugo

    One, two, three, four interested parties?! I just want to know if these “interested” buisnesses intend borrowing heavily against the asset of the club to purchase the business.

  • swissjonny

    Lets all keep our feet on the ground.We need something to happen quickly thats for sure but any due diligence will take time.Hopefully when all this has settled down and we are back in the top flight perhaps we could make a film about this whole extraordinary saga.Clearly Jackie Chan would have to play CY-not a racist sterotype- just the only credible candidate.PP could be played by Bob Hoskins or Ross Kemp.Any other suggestions? With a British director like Guy Ritchie this could make us some serious dosh and establish us as a cult club globaly.Trouble is I reckon most people would find the plot a little far fetched.

    • m

      Great idea Swiss Jonny, Blues always stranger than fiction. Went to see Swan Lake at the Hippodrome last Friday, first time down the ballet, impressed by the ballet at Artsfest. The performance was much like watching the Blues, seemed to go on forever, the people you were rooting for did not win though having some promising moments and at the end of the performance everybody booed the guy in the black. The next performance is “Cinderella”.

  • Terry

    Peter Pannu and professional integrity. Words I never thought I would see juxtaposed

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