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The Great Disappointment
A common theme on Blues-related forums and social media of late has been talk of takeover announcements. With the absolute vacuum of news about a potential takeover due to non-disclosure agreements and such like, rumour has sprung aplenty with talk of potential new owners, bids being accepted and dates of the deal potentially being done.
It’s eerily reminiscent of the story of a 19th century American preacher by the name of William Miller. Miller told his faithful congregation that according to his interpretation of the Bible, the messiah was to return in 1844. One of his followers, Samuel S. Snow, even gave an exact date – October 22 1844. As October neared, Miller’s followers prepared for the return of Christ, some even selling all their possessions. However, when the fated day rolled around and the Messiah didn’t show up, people got understandably angry – and the whole event became known as the “Great Disappointment“.
Now, I’m not going to compare new owners of Birmingham City with the son of God, but it does strike me that anyone predicting a date for a takeover to happen is setting themselves up for a fall. I’m sure people who are posting dates and information have received that information in good faith but the sheer unpredictability of the whole saga should surely mean we have to exercise caution over hoping anything will happen in an allotted time frame.
I’ve stated on record many times on here and elsewhere that I do not believe a takeover is imminent. I’m by nature a sceptic; I like to have irrefutable information before I accept it as gospel and I’ve not seen anything remotely like that to make me think a takeover will happen soon. To qualify words like “imminent” and “soon”, I do not believe it is possible for a takeover to be finalised prior to the start of the new season on August 3 and I believe it unlikely that a bid will have been accepted by the board of BIH prior to that date.
I do know that negotiations have happened in the past, and that offers have been made and rejected. However, it is my understanding that there is nothing on the table at present and thus there is nothing to be accepted/rejected. It is of course, entirely possible that things are happening that I am unaware of but I’m reasonably confident in saying that I don’t think we will see any movement as quickly as been stated on some forums – ie by the first week of July.
It is worth bearing in mind that there are stock exchange regulations that must be fulfilled – for example any bids made for the club should by rights be announced to the stock exchange – especially if there was any proper negotiation going on. Once a bid has been accepted it must go to an extraordinary general meeting (EGM) of shareholders for their approval before it can go through and judging by EGMs that I have seen announced on the HKSE site there is a lead time of about three weeks between announcement and holding of an EGM.
In short, whilst like pretty much every other Blues fan I’m hoping for a takeover I am careful about believing rumour. Admittedly, things can change fast and it would be great if for instance Mr Pannu was to announce to the HKSE tomorrow that a deal had been done – however, until that happens I’m going to continue being sceptical and avoid a great disappointment of my own.
Tags: Takeover
96 Responses to “The Great Disappointment”
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Clubs not for sale mate, all players are of course, but the club never. Negotiations are not really taking place at all, pannu has to pretend to stop supporters completely boycotting the club
Great piece aljamir. Can’t honestly see anything happening anytime soon. Seems like anyone with any sense will want to see the outcome of the trial before making any firm move, as they may be able to pick up the club for much less than pannu and yeung want for it. Of course if he is found not guilty, will the blues faithful welcome him back….my heart tells me not a chance!!! K.R.O
Continuing the religious theme, let’s pray for resurrection one day!
There is nothing left to sell, when the money runs it means admin so a deal must be struck in the next few month or cy will get diddly squat imo
Completely agree – Although its painful to see we’ve had the luxury of selling players to PL vultures to keep us going since relegation. When there isn’t anyone else to sell for £1M+ there aren’t a lot of other options left!
I agree and the fans should stop pouring money into the club as this will speed up the sale.
Agreed! Nathan Redmond was the last straw for me…..
Jordon Mutch was the last straw for me, the sale of Jack Butland just p***** me off. So is the Redmond and Davies sales.
I honestly cannot justify spending any more money at the club just to see players leave cheaply with money earned to “keep the club afloat”
If pannu wanted to do something for this club he should go unpaid next season.
Or put a gun in his mouth….
Not getting into the debate of whether a club with no fans is going to help sell the club. However, I have been led to believe from somebdy with very good authority that a sale is in the pipeline. It is felt it will be too late to keep Redmond, but new buyers and investment are on the way. So hope springs eternal.
Dreams mate
i would have thought if the sale of the club was imminent then the sale of davis and pending sale of redmond would have been stopped afterall by selling these two pannu is in effect devaluing the club surely
kro
Good point and PP is devaluing the club but maybe he’s concerned about the sales falling through so by selling Redmond and Davies he’s in a win win situation.
I guess with a transfer window system, you canot gamble as to whether you will sell and then find you keep playrrs, sale does not go through and you can no longer trade…. The other view is if a sale is happening and some suggestions on here about the money is true then they might try to raise money from sales regardless of the club. I do not subscribe to any suggestions of inappropriateness about money in that sense, but if the case it would mean a silver lining to sale of these players for such a low fee….
Glass is half full… for the moment!
i suspect talks are still happening.
reason being :
if there were no talks happening anymore about a sale then i think BIHL have to announce this to the HKSE, just as they have to if they are in talks about a sale (which they have done), as its share price alterting information or will be if it gets relisted, (although we know they have been told off for not doing this in the past) – im not sure of how the HKSE rules work, but that would be the case if it was listed in the UK.
TBH I don’t think we’ll see anything concrete until after the trial has finished, CY will want to hang on top his prize asset for as long as possible, i’ve said before that I think CY thinks he will be found “not guilty” & if that happens I’m certain that he will want to retake the helm as it were. I really do hope i’m wrong on this but something tells me i’m not.
its definitely a week on Tuesday,
Ziggy has save up and bought us.
He’s got a bargain as they threw in the Wolves for free
More chance of that happening than the club being sold much before Xmas.
No new invester worth any salt, would even consider putting any money in until the outcome of the trial has beed decided. If CY does get convicted, then the asking price will be a lot lower.
What frustrates me is Tom Ross saying the club sale is imminent and Tatts saying the opposite, when will this nightmare finish, I have renewed my ST through blind loyalty I cant say I am looking forward to a season of struggling but that outcome seems fairly inevitable.
Great piece again Dan
I have been trying to work out sums, going on last season 24million it cost blues to run so that roughly works out at 70,000 a day, 500,000 a week, 2millon a month = 24millon a season
Since we went down in 2011 we have sold Gardner, ,Johnson, Ferguson, Michael, Dann, Jerome, Beausejour, Ridgewell, Foster, Mutch, Butland, Davies, Redmond, GK Coach Watson comp, AM compo, CH compo assets have been sold I think Carson will sell the club, when will be the questions guys. Art money will be drying up anyway with these kind of sums me think KRO
Tracy,
Yes I agree and I think we are nearing the end .
PP won’t want to risk administration and I think he’s now cut through the bone.
Lets hope so!
am sure when that last Parachute payment cheque has been safely ‘banked’ and the last saleable assett has been sold on, THEN Pannu will authorise a sale.
Just hope it is not another bunch of Chinese chancers with NO money.
I wouldn’t bet against it.
Your William Miller story highlights very well that certain types of people will choose to believe the most ridiculous. Even if evidence or logic says otherwise! Also reminds me of the “Forer effect” on gullability. Wow, OP does psychology, the OP community is a cut above all others.
This has dragged on for one or two reasons. Either Carson wants to keep control of the club or the obvious, they are still waiting for a 30-40 million offer to come in, which seems unlikely. The sad part of all this is the sale of the clubs future in the likes of Mutch, Butland and the sanctioned sale of Redmond. Iv said before that I have the utmost respect for Lee Clark, most managers would have thrown their toys out of the pram by now and his attitude is the reason I am looking forward to the new season. If Peter Pannu did something right, it was appointing Lee Clark as manager.
Almajir,
As PP is seemingly acting on delegated authority to broker a sale, do you have any idea of the extent of his powers, especially in light of HKSE rules?
Presumably, his role is to discuss offers with potential suitors and then propose a sale to the Board at an EGM? He must have a sum in mind which will be acceptable which [again presumably] must have been fixed by the Board as CY is only c25% owner. Although NDA’s should prevent too much getting out in the open, the process of negotiation must give some indication of whether offers are in the region of the desired selling price, hence rumours start on the grapevine.
Whilst I do have some sympathy with the sceptics on here as to their true intentions [i.e. they want to keep the Club if CY gets off], surely they are playing a dangerous game with HKSE rules; or am I just being naive…
How much can we get for Peter ‘lies-lies-lies’ Pannu on the transfer market?
In my view, Yeung and Pannu have a plan… they must have. But, I don’t think we’ll see what that is until the court case is over, at least. So really, speculation is utterly pointless.
They are already implementing their plan, right in front of your eyes. Can’t you see that!
I can see the obvious, but to what end? That’s not so obvious.
Wonder if Pannu is on a percentage of any sell-on ?
the sooner this man is history the better !
Steve,what a fertile imagination you have.That kind of cynical self enrichment is completely out of character for Mr Pannu.He has surely toiled long and hard on behalf of the Club for little personal gain …
Good article – until I see it in black and white, I don’t believe any sale is in the pipeline.
It’s a tad frustrating when Tom & Tatts have opposite views as well.
The next 6 months will be tough!
KRO
What’s the best thing for 2 of the key media links to Blues to do in this situation? The same as the rest of us…SPECULATE.
Tatts and Ross are vying for superiority of knowledge and with the deluge of speculative crap that gets posted on here the aim is simple for all/ to say “I told you so” when the eventual outcomes are revealed to all.
Lets get on and anticipate the new season and LC’s one man mission to make professional football about hunger, desire and passion….not money.
I for one applaud him for it and THAT is what we should be focusing on.
KRO
Hear hear!
Absolutely, bluenoseneil mate. I’m bored to distraction with all this speculative hot air. What about the football!
I like Tom Ross and always have, and perhaps he is RIGHT.
Only time will tell, I cannot believe any new buyer would stand by and watch our prize asset be sold for peanuts.
Carson n Penis Pannu are upto something and it ain’t good.
Exactly what I said earlier Marky. We cab see the obvious… it’s the NOT so obvious that worries me. No one.. absolutely NO one, knows what those pair have planned for the club.
Talking of plans: http://www.birminghammail.co.uk/sport/football/football-news/big-interview-curtis-davies-tells-4724581
if I was going to buy BCFC I be disappointed to see a crowd of 2/3000 i would probly look elsewhere to find a better offer, i just don’t think a low crowd will help either kro
No Tracey – you are wrong, there are fans who actually believe that by keeping away they are helping the club. The loss of revenue that the club needs to survive is justified by saying it will no longer go to the owners and the fact it makes us less viable and also stops giving support to the team is glossed over. (Please note cynicism to those who actually do this).
Yea I know Pete was just saying for those people really
I know Tracey I was just being cycnical and joining you in the process towards the stay away mob. KRO.
there cant be anybody on the horizon , because as you said why would all our better players
be leaving if a takeover was iminent. not atleast to the new year will there be any good news
but let lee get on with it and get us up that table to make a takeover more likely.KRO.
Good assessment. If there were a takeover or investment imminent, they’d be holding on to the assets. I believe these sales are to keep us going until at least Xmas. Remember, we’ve had no gate money coming in since early May.. so I would think we desperately needed an injection of cash. Hence the sales.
In think Carson has wanted this all along brought the club for silly money but he’s got to have made money from all the sales.. The season ticket can wait untill we produce another Nathan and havevdecent owners who aren’t there to sell everyone
How about this for a thought?
Paladini’s offer………………£25m
Receipt for C.Davies……..£3.5m
Receipt for N.Redmond….£2.5m
Parachute payment……….£8.0m
Total ………………………….£39.00m
This could be a means of getting their requirements.
But, would Paladini’s lot still offer £25m with all the playing assets stripped?
BIRMINGHAM CITY have always been a SELLING club,the only difference this time is we have no money,so the players are going on the cheap.
If we had a decent board,Butland would still of gone & Davies/Redmond (If the grapevine is true)
Same old story from fans when a player gets sold “NEVER GOING AGAIN”
LATCHFORD / FRANCIS / I’m sure there’s plenty more,I even remember the uproar when Gary Rowett left.
Don’t know if this has anything to do with the gypsy’s curse,but since we won the League Cup,has any player who trapped gone on to better things ??
Think most have joined struggling clubs.
your talking nonsese when comparing the sale of Redmond to Latchford and Francis… even all those that have left since the leaguer cup.
Latchford went for £300k in the mid 70’s and Francis for £1m in the late 70’s – these were astronomical values back in the day.
Redmond is different.
He has been with us since he was 8
He is a fan
He has the potential to be one of the best wingers in the country
We have only had 1 and a half seasons out of him
He is being sold for peanuts when he is one of our lowest earners
Hundreds of fans will not renew directly because of this sale
The last 2 points make this sale pointless from a business sense. The first 4 points are emotional points, but thats why I support the blues. If I only cared about winning and not about the soul of a club, I would support the filth…. not that they win much these days
I am not sure whether the Paladini consortium offered 25 million, I think it was more like instalments. Still, it was the only offer made for the club to my knowledge.
lets nor forget also buy selling our best players, as you rightly say Staffs how the hell
can carson hold out for 40 million, nobodys gonna offer that after the enialation of the
playing staff. i think 25 million is the best offer there gonna get now, so i wish theyed
just take it and sod of.KRO.
Zaha to play for England he was born in the Ivory Coast for Christ sake!!
Erm, John… that’s not a new phenomenon.
here here kro guys
Nothing left to sell now apart from the ground. oh sh-t !
Who knows what Li ying Fuc and his sidekick Dr Evil have planned next.
Suppose not Almajir suppose not
26th July 2013 the day Great Britian lost its freedom of speech r.i.p
Que?
What are you on about? What is happening in July?
that is very very worrying, and not totally out of the question, but highly unlikely
IF that ever happened theyed better get out of the country pretty quickly because
big bad baz will be comming for you and thats not a pretty site.KRO.
There never in the country, and ones about to be banged up for a while
Abso bloody lutely right
Good bit of research for the Great Disappointment analogy. You could have taken it a bit further by mentioning after 1844 a very small group looked to see where they went wrong with their interpretation of the Bible. This small and dedicated group of believers grew into what is now an 11million strong and fastest growing Protestant denomination in the world. I will let you research the name but will leave everyone with the hope of a bright future to come for Blues. Just don’t force it.
Ah, I already know that is probably the Seventh Day Adventist Church – and before you ask, no I’m an agnostic.
I am
St Andrews stadium will never be sold, can you imagine the social uproar it would cause, there would be murder if someone tried to do that.
There are people about who would be prepared to commit suicide in the centre circle rather than see that happen.
The ground has been an enormous factor in many peoples lives for generations .many look back at happenings there as they look back at the birth of their children, some met their wives there, and some recall it was their fathers last match before passing away. As for myself I can still recall the plaintif cry of
( Hot dogs with or without onions no extra charge) as I made my way to Emeline street more than 50 years ago.as does being thrown into the horse drinking trough outside the Greenway by your mates just for a laff. Being lifted of your feet as a kid when leaving the ground such was the size of the crowd
These are things that remain with you all your life things that you will preserve come what may ,and woe betide anyone who tries to take it away.
We don’t do protests in this country. Ask the Condems. If the ground was put up for sale a few would protest but they would be shouted down by those not wanting to rock the boat.
Look at the reaction on forums against people who are protesting by not buying ST,s. They are being accused being traitors and much worse.
OP I was in Birmingham airport, and seen Sammy yu there just wondering if you know what he is doing in the UK?
Interesting…
He was with this guy I can’t remember his name but found his photo… Scroll down to picture of the board the guy furthest right. http://www.dailymail.co.uk/sport/football/article-2002840/Birmingham-furious-Alex-McLeish-resignation-email.html
but if the circumstances were to change, billionaire owners came in built a new 50,000
stadium in small heath or nechells as at one time gold and sullivan were looking at and
spent millions on players would we be majorly dissapointed at loosing good old st andrews.
i know this is highly unlikely to happen, and would struggle to fill a stadium of that size anyway
but if we want to be a BIG club again and move with the times that might be a possibility in the
distant future. Before anybody moans i for one would prefer to stay at st andrews but…………KRO.
Am I missing some thing with some of you so called blues fans, I have support the blues for about 43 years and seen many changes good and bad. Being a true supporter is about getting behind your team what ever is happening behind closed doors with the owners. Supporters who like myself have followed blues all these years will tell you that there has been more bad times, but the club is still here and it would be great if we could get 25000-30000 for the first game of the season which would show the manager and the team we are behind them and the rest of league clubs that the greatest fans are back making St Andrews a place where teams have to fight for any points and their fans don’t out sing us. Up the Blues.
Couldn’t have said it better!! St Andrews used to be a fortress and unbeatable !! get back to this stage and the only way is up!
Unfortunately I along with thousands of others believe that by filling St. Andres all that we would be doing is ensuring that Pannu receives his 25K per month consultancy fee and his £660 per annum salary. Therefore why would he sell the club?
I read that we had accepted 2 bids for Redmond, raged for a few minutes to anyone who was in earshot (mainly the wife) about how far we’d dropped since that day in 2011. And then 20 minutes later logged in and renewed my ST.
Whats happening off the field upsets me deeply but I support the team that represents my beloved Club and the City where i was born. That wont change no matter who owns us.
For the Boys in Royal Blue. Always.
Spector signs new 2 year deal.. All we need is Redmond to sign a deal now, Simeon Jackson is on my wish list think he would get 15 or more goals in championship free transfer
Redmond is leaving mate
http://espnfc.com/news/story/_/id/1485884?&cc=5739#
Only at BLUES.
Euston – if they can’t get his age right – Ziggy ain’t 26 – then why should anyone believe the rest of it?
Sunday People had this story/rumour back in January,I did post it on here.
Is it true he is after British citizenship so he can become a bosman ??
If Zigic was available on a free and wanted £5k a week, no one would have him. A. Because he has made his name as a renegade B. Because he is crap!
The selling of Redmond is really the last straw. It is not that he is another Messi but that he represents the future or at least the next five or six seasons. It cannot have escaped anyones notice that the board has systematically sold off its most saleable assets, the players to recover as much money as possible to compensate for a lower selling figure. The plain fact is that Birmingham City FC is now, financially speaking a second class club and that it is likely to be sold to a second class owner, one with hopefully good intentions but little in the way of hard cash. It would seem to me that the only way that the club can attract a substantial buyer is through its success on the pitch and this aim is being systematically destroyed by the present management. Guilty or not CY and his cronies will sell and walk away with a substantial figure. The future does not look good but we can only hope that one day we will emerge. If anyone thinks that I am being pessimistic just examine the fall of dear old Pompey.
Now the club have finished selling the family silver (Assume Redmond gone), we sail very close to the wind of administration. It is reported now that Zigic’s wages now escalate to £75k per week !!!
http://www.newsnow.co.uk/A/653324247?-11196:840
Wander if Zigic has seen these
http://tensport.com.au/news/newsarticles/Football-Hearts-players-take-wage-cuts.htm
http://www.dailymail.co.uk/sport/football/article-2111272/Rangers-players-accept-75-cent-wage-cut.html
http://www.guardian.co.uk/football/2010/feb/26/avram-grant-portsmouth-players-pay-cut
If Ziggy is going to trouser 50per cent of the parachute money next season , even with the Davies & Redmond money , the cash flow will be so restricted surely administration is inevitable.
Which leaves BIHL with two options sell up lock stock & barrel , or sell St Andrews ?
At the end of the day the football club is in a huge financial mess and this is down to the owner being arrested and having his assets frozen. Like it or not, players have had to be sold to keep the club afloat. Lee Clark is doing a marvellous job under the circumstances so back him and his team because there is nothing we can do about the mess at the top but we can support a manager and players that will give their all for Birmingham City.
Spot on Andy. I renewed for myself and four other family members last week (3 adults, 2 under 10s) for a total cost of £1160 compared to last season’s cost of £1398 and I prefer to think that this will help towards keeping the club afloat rather than go directly into a board member’s pocket.
who knows where our moneys going, give us a clue?.KRO.
The teenager that won euromillions isnt a bluenose is he/she !!!!!
he/she could send it to carson to help him out. poor soul, needs the money.KRO.
comment edited – I’m sorry, but you can’t make that kind of accusation cos it could be libellous
Great article. We are used to our hopes built up only to be let down. Being a blues fan after being hit so many times you become numb to the pain and it is precisely these lean times we are suffering at present that make the highs so much higher. Despite the gloom we try to keep our spirits up eg. sausage/egg, tin of salmon songs of past despite crap football. We still live in hope and it may not happen tomorrow but one day soon BIHL will join Ken Wheldon and the Kumar brothers as past history. We will come out of this stronger with a youthful team on low wages. Like a phoenix we shall rise from this to once again mingle amongst the elite. As our anthem says ‘there’ll be joys and sorrows too’.
As far as I’m aware Pannu is still receiving his £660 k per annum salary and his £25 K per month consultancy fee from the coffers, so I am off the opinion that it is not in his interest to recommend selling the club to the board.
He will milk the cow until the last drop has been taken, then recommend selling to the highest bidder, receive his sellers commission, then as he did in Maribor walk out the door waving a bunch of £50 notes at the fans.
Keep right on to the end of the league.
http://www.thesun.co.uk/sol/homepage/sport/football/4987380/Kevin-Phillips-could-leave-Crystal-Palace.html
I wish.
Why did Carson and his confederates buy BCFC anyway? What was in it for them? It was hardly a money-making machine however the books were presented, and remember the new regime successfully challenged the porn barons and did acquire a partial refund. A very curious investment.
Answer that question, and the date of their departure will seem a lot clearer…
[…] been asked the question a lot over the last week and I have to reaffirm the stance I took in this article last week. As far as I’m aware, nothing is currently happening with regards to a takeover; I […]