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

Yeung sells stake in Birmingham City

Thu 5th May 2011 | Clubs Ownership

Birmingham owner Carson Yeung has reportedly reduced his stake in the midlands club by 1.6% and raised £3.63million from selling shares to private investors.

Yeung has reduced his holding in the Birmingham City from 24.9% to 23.3%.

The Hong Kong businessman has made the move after it was announced last month that Birmingham had debts of £27.27 million.

A statement on the Hong Kong Exchange said 6.43% of City's parent company, Birmingham International Holdings, has been sold to people unconnected with the club.

Yeung, who became the club’s largest shareholder buying 16% stake in 2010, purchased a further 8.6% stake earlier in April this year following uncertainty over the clubs ownership structure.

Doubts over the clubs financial situation raised concerns that the club, who qualified for next season’s Europa League, would be unable to obtain the UEFA license needed to take part in the competition.

Financial disclosure rules brought in after the collapse of Portsmouth last year, requires clubs to submit "independently audited accounts to the Premier League by 1 March each year with requirements to note any material qualifications or issues raised by auditors".

Clubs are also required to submit "future financial information" to the Premier League by 31 March each year that "will act as an improved early warning system should any club take undue financial risks which may have consequences for future financial stability".

---------------------------------------------------------------------------------------------------

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

Chinese company 5USport buy stake in Northampton Town

Mon 26th Jun 2017 | Clubs Ownership

Northampton Town Football Club have announced a new partnership with 5USport, a Sports Development and Education Company based in Guangzhou, China. As part of this partnership and following approval...

Leyton Orient purchased by business consortium headed by Nigel Travis, a life-long fan of the club

Fri 23rd Jun 2017 | Clubs Ownership

Leyton Orient Football Club has announced that it has been purchased by a business consortium Eagle Investments 2017 Limited, headed by British-born Nigel Travis, 67, the Chairman and CEO of Dunkin'...

Massimo Cellino Leaves Leeds After Takeover

Wed 24th May 2017 | Clubs Ownership

Andrea Radrizzani has completed his takeover of Leeds United after purchasing Massimo Cellino’s 50% stake in the club. Radrizzani, who purchased 50% of the club in January, has acquired the...

EFL Approve Chinese Investment At Reading

Wed 17th May 2017 | Clubs Ownership

EFL approval granted as Chinese investors Dai Yongge and Dai Xiu Li take majority shareholding of club. Reading Football Club has confirmed Chinese brother and sister, Dai Yongge and Dai Xiu Li, have...