Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

Levy
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

Premier League Revenues Grow But Losses Return

Thu 20th Apr 2017 | Money & Finance

Premier League clubs’ revenues increased to a new record of £3.6bn in 2015/16, according to Deloitte, the business advisory firm. Analysis of the financial results of Premier League clubs...

7 Tips From The Best Online Football Merchandise Stores

Thu 13th Apr 2017 | Money & Finance

CEO, Lewis Holland and the team at DiscountIF team have been studying various merchandise stores of football clubs in the UK. This article was originally posted here. We’ve compiled a short list...

Newcastle United Posts Profit As Turnover Falls

Thu 6th Apr 2017 | Money & Finance

Championship table toppers, Newcastle United have posted a profit of £4.6m for the year ending June 2016. However, the profit after tax for the year of £4.6m was down from the £32.5m...

Newcastle & Brighton: Who's Really Top Of The Championship?

Thu 30th Mar 2017 | Money & Finance

The following is a guest post by CEO of DiscountIF , Lewis Holland. He and the team at DiscountIF have continued to analyse the merchandise space and identify who’s doing their job well and who...