Takeover circus goes on

10

November 15, 2012 by Made In Brum

The news broke last night that Gianni Paladini had held advanced talks with the Blues owners and was expecting to complete a takeover ‘within ten days’. Due diligence was about to be taken and the books were available for Paladini’s lawyers to see. But this is Birmingham City, remember, the place where nothing is straightforward.

Today, Peter Pannu, acting chairman of Birmingham City and the man who is negotiating the sale of the club has issued a statement on the clubs official website. He asks fans not to believe speculation and rumours and only believe the stock market announcement, when one is made. He also denies that talks have taken place between the club and Paladini’s consortium. To be blunt, someone is lying.

The omnishambles that is the Blues board and this take over bid as a whole has obtained a new low. On one hand, Paladini is stating that ‘a deal could be struck within ten days’ and on the other hand you’ve got Peter Pannu denying talks have even taken place. What a farce.

For Paladini to mention the managerial situation at the club, like he did yesterday, and to talk about the January transfer plans, he must have held talks, if not, he has broken a confidentiality agreement. Its reported that the accounts are being looked at next week, don’t forget, these are the accounts that the club failed to file for the last two years, once leading to a transfer embargo.

It is all messy. This is Blues. But something has to give.

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10 thoughts on “Takeover circus goes on

  1. M ware says:

    he did not say that talks had not taken place he said that there were no talks at this time

    • Made In Brum says:

      Read his quote. He said- “Responding to further speculation, Pannu told bcfc.com: “There are no active negotiations with the group involving Gianni Paladini or any of his associates”.

      Same thing really.

      • M ware says:

        No it’s not

      • Made In Brum says:

        Obviously they have spoken, hence the initial bid. I was strictly talking about yesterday. Nit picking or what?

      • M ware says:

        Steve chapman has it about right it’s not about telling lies its about a standoff with both parties trying to get the best deal they can

      • Made In Brum says:

        Well someone IS lying.

        Paladini saying that they are looking at books and want to conclude a deal within 10 days.

        Pannu saying that they haven’t entered talks at that stage. Can’t both be telling the truth.

      • Lestby Avenue says:

        The clue in that statement is “ACTIVE”
        Pannu could have spoken to Pugh,Hugh,Barney McGrew,Cuthbert,Dibble and Grub….who could all be doing due dilligence, and hence NOT NEGOTIATING.
        When Paladini has done his dilgence, he will either ammend or confirm his offer.
        Then there will be “ACTIVE” negotiations.

        Pannu is correct. Paladini is emotionally out of control.imo

        Assumptions lead to rumours 🙂

  2. Just the usual farce that seems to dog Birmingham city football club, seems to me paladini is trying to force the sale and yeung is trying to hold out for more, if we are not careful blues will lose paladini and end up in administration

    • Johnboy says:

      It would appear,that one party or the other,is telling lies. Maybe one of the local Radio stations could get an “exclusive” by getting both of them together (if Pannu leaves Hong Kong)and ask the relative questions. Wether you would get an honest answer,is another matter.

  3. Johnboy says:

    Yeung helped to bring us bluenoses, a fantastic day out at Wembley,which will stay in our memeories for years, but he will dull that memory somewhat,if he does not let the club go now !

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