October 9, 2012 by Made In Brum
The Birmingham Mail have today reported that Blues chairman Peter Pannu is negotiating the sale of Birmingham City to three possible parties, two of whom have confidentiality agreements. It is well documented that Giani Paladini had tabled an offer in September, thought to be in the region of £25million, but for now, he takes the back seat as Blues “fry bigger fish”.
After looking into Giani Paladini’s finances, an accounts colleague identified areas that were almost identical to Carson Yeung’s when he first took over the club. This is the same person who advised me, when Yeung first took control of the club, that it would all go wrong, because he simply does not have the money. We don’t want a deja vu.
Birmingham International Holdings (BIH) own more than 90% of the football club. Carson Yeung is the single largest shareholder, owning 26%. This means that the outcome of his pending money laundering court case shouldn’t have an adverse affect on the sale of the club.
Rumours, yesterday, suggested that Indian businessman Mukesh Ambani was discussing a buy-out. However, Tom Ross reported on his Twitter feed that, after texting Peter Pannu, the story was false. That doesn’t mean that there isn’t Indian interest, just that its not from Ambani.
Colin Tattum of the Birmingham Mail wrote that the take-over is “a matter of when, not if”, suggesting that a takeover will be agreed eventually.
Our picture above is today’s front page of the Birmingham Mail.