Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Birmingham will meet UEFA financial regulations

Tue 8th Mar 2011 | Money & Finance

Birmingham City Football Club are confident they will meet the financial criteria which will enable them to compete in Europe next season after their Carling Cup triumph.

Birmingham, who beat Arsenal to win the Carling Cup were subject to reports that they may not be able to compete in the Europa League unless they can assure the Premier League, UEFA and the Football Association their financial future is secure.

But talk the clubs financial situation has prompted acting chairman Peter Pannu to allay those fears after a statement by Birmingham International Holdings - the club's parent company - to the Hong Kong Stock Exchange revealed the size of the clubs debt.

That revealed Birmingham and other Hong Kong-based business had total debts in excess of £29million.

It also emerged last week that owner Carson Yeung has put some of his own properties up as collateral for a multi-million pound loan.

This would be used to "provide sufficient financial resources" to allow the business to continue "without significant curtailment of its operation".

Pannu told City's official website: "It is important to note that Birmingham City (the football club) is a separate corporate entity from BIHL (a listed company in Hong Kong).

"Although a distant subsidiary, Birmingham City FC's accounts are separate and it operates on its own financial basis.

"Birmingham City FC is in credit with their bankers and there is no financial impediment to its operations.

"We will have no problem securing UEFA license approval (to play in Europe) for which the club had already filed the papers.

"As for Birmingham International Holdings Limited, the financial support by a major shareholder is a common occurrence and there is no cause for concern or any direct links to Birmingham City FC's well being."

A Birmingham spokesman said on Monday: "To reiterate, there are no problems with the day-to-day running of the business.

"The board are looking to raise capital to invest into the business."

 

RETURN TO LATEST NEWS SECTION

 

SUBSCRIBE TO THE F.C. BUSINESS RSS FEED

 

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

West Ham United launch shirt auction in aid of Mexican earthquake relief

Fri 22nd Sep 2017 | Money & Finance

West Ham United will auction all match-worn shirts from this weekend’s London derby against Tottenham Hotspur , with all proceeds going to the victims’ families and survivors of this...

Stoke City success bringing benefits to region

Fri 22nd Sep 2017 | Money & Finance

Premier League football brought £130m to Stoke region and employed 2,200 people in one season, an EY study finds. The chance to play in the Premier League not only brings joy to fans of a club...

Manchester United Post Record Revenue Of 581m

Thu 21st Sep 2017 | Money & Finance

Manchester United has followed a successful year on the pitch with a successful year in business posting record revenues for the year ending 30 th June 2017. In a season which saw the club, under the...

30 September: the other deadline day

Mon 18th Sep 2017 | Money & Finance

As of 30 September 2017, all football clubs, sports agencies and their intermediaries will fall within the remit of the Criminal Finances Act. Through this Act, criminal sanctions can be imposed on...