- Home
- Birmingham City
- Current Squad
- Adam Legzdins
- Jonathan Grounds
- Paul Robinson
- Ryan Shotton
- Maikel Kieftenbeld
- Robert Tesche
- Stephen Gleeson
- Clayton Donaldson
- Diego Fabbrini
- David Cotterill
- Rhoys Wiggins
- Che Adams
- Lukas Jutkiewicz
- Viv Solomon-Otabor
- Jacques Maghoma
- Greg Stewart
- Jonathan Spector
- David Davis
- Michael Morrison
- Tomasz Kuszczak
- Paul Caddis
- Development Squad
- Academy
- Ladies Team
- Sophie Baggaley
- Alex Windell
- Meaghan Sargeant
- Jess Carter
- Kerys Harrop
- Freda Ayisi
- Kirsty Linnett
- Bella Linden
- Andrine Hegerberg
- Abbey-Leigh Stringer
- Melissa Lawley
- Charlie Wellings
- Chloe Peplow
- Rebecca Lloyd
- Connie Schofield
- Emily Westwood
- Cheryl Edwards
- Corina Schröder
- Ashlee Brown
- Coral-Jade Haines
- Aoife Mannion
- Ann-Katrin Berger
- Out on Loan
- Former Players
- Boards and Advisors
- Appearance Data 2014/2015
- Current Squad
- Factfiles
- Series
- Sponsorship
- Website Info
- Social Media
- Contact Me
EGM News
A number of statements have been issued to the press and the fans by Peter Pannu in the wake of the Extraordinary General Meeting held by Birmingham International Holdings today.
The statement made by Mr Pannu to the fans can be read on the Birmingham City official site here. Furthermore, if you have Facebook you can view the video interview from BBC Midlands Today on this link here (beware, flash photography throughout). Venus Wu, who can be heard asking Mr Pannu about the club in that interview has published this piece for Reuters here.
The company made this announcement to the stock exchange.
As it stands, nothing has appeared to have changed, bar the holding company is now close to relisting on the stock exchange. There is no further news on any sale of the club and Mr Pannu doesn’t really answer any questions about what the future holds; whether investment is forthcoming or what the plan is bearing in mind the situation the club finds itself in.
I will publish a more detailed analysis of the EGM results once they are published to the stock exchange and I have time to digest them.
Tags: BIH, HK, HKSE, Peter Pannu
138 Responses to “EGM News”
Leave a Reply
You must be logged in to post a comment.
Just listened to the interview on the Facebook page. Seems like Pannu is saying all the right things, whether its true or whether thats for the media. With Yeung stepping down I think it is a massive building block in moving away from the current regime. Pannu clearly states the club is for sale and that there are groups interested, which surely is a positive. Heres hoping he is telling the truth! KRO
Nick, “I think it is a massive building block in moving away from the current regime” .
Sorry Nick, but where have you been, its the same regime, one is his current and the other his future brother-in law, that has been put onto the board of BCFC, so Yeung’s hold on the club is stronger than ever.
Nothing will change and as for new owners how many times have we heard that.
The only time we will get new owners under this lot will be if some mug pays at least double for what it is worth.
Where have i heard that before?
He will not sell for less than £40 million imo.
The club is now worth £15 million so it’s pie in the sky talk about new owners.
Porcine Clown ..
‘What troubles ..’ ?
Is he for real ?
A few years ago a certain Jim Callaghan made another stupid statement “crisis , what crisis ” .
This proves beyond all reasonable doubt , the contempt that Pannu has for all Blues supporters.
What a piece of work he is !
Have you read tom Ross’s last status
Like I said earlier.. same sh*t, different day.
So they are going to continue to sustain Blues as they have done for the last two or three years, lots to look forward to then. Also we are a springboard to other businesses, apparently as everyone knows. Be interesting to read the response of some of the apologists on here, says more in that three minute interview than they have said in the last four years.
Amonst many other phrases, I don’t like the “springboard to other businesses” comment in Mr. PP’s interview.
It looks like someone is for the High Jump.
I wondered how PP could speak bearing in mind he must have had his tongue firmly embedded in his cheek.
To stand there and claim with a straight face “Problems, what problems?”
The new chairman of BIHL will have even less affinity to the club than CY ever did (at least he showed genuine enthusiasm), and this new fella’s priority will always be the holding company . From PP’s spouted nonsense, it would also appear that he and BIHL appear to be content with the status quo at Blues and have no immediate plans for investment – regardless of what is raised if and when the shares are relisted. It also appears that for a lot of the issues outstanding, PP appears to be out of his depth in dealing with them, if this interview snapshot is anything to go buy. He has no experience, knowledge or skills and seems to be blagging it and ill at ease trying to explain the various scenarios being played out
Stubborn and unbelievably pretentious stuff from the supposed person in charge.
PP doesn’t answer any questions directed about the club, he is probably correct all clubs are in the red, but he claims that the club will sustained in the same way as it has for the past couple of years and that the club will be moved forward in the same way…
In what way has it been sustained, all our assets have been sold and moving forward, re have been in reverse since we won the cup, and going downhill fast for the past 18 months at least.
Thanks again for being first with the news, can’t wait for your, easy to read edit, but I think everyone can get the gist.
KRO+DNM
It has been sustained by those of us who continue to support the club financially.
It has not been sustained by the online Blues crew who post great responses on Blues issues but don’t put a penny into the club.
Perhaps now it’s dawning on everyone that continued support just feeds them and isn’t working at all.
comment removed
Want to know why the “brakes are on” Paul? It’s because you always revert to type, flaming other people continuously for not having the same opinion as you and I do not have the energy or patience to sit here going through them. We know you think you’re better than people who don’t go because you go. No more.
Daniel imo I think you are being overly harsh on Paul.
Mark – to quote our beloved leader, I care not. I don’t have time to police the comments and I don’t want them to descend into a playground. Others have had their comments deleted also.
RIP BCFC
The Trust can’t do anything. Can anyone now ?
“What troubles ?” That line says it all.
Anyone looked where Portsmouth are these days after terrible owners ?
Why can’t the Trust do anything?
the trust will do something, wait and see.
I dont understand why some supporters think owners should keep on putting money into a club. There is no profit to be made, so its just an expensive hobby with the stigma of owning or part owning a club. PP has done a fantastic job of keeping us afloat with limited revenue. We still have a club and are not in administration. For those who don’t understand this means we are paying our bills and have not had 10 points deducted. Sullivan and Gold loaned money to the club but always on the basis that the club could repay the loans. CY did the same and has lost his money. If it wasn’t for the court case he would have continued to do so.
He didn’t help himself to anything. He doesn’t decide his salary and if the shareholders think its worth investing in a high salary to run the club and keep it afloat then it looks like money well invested given we still have a club and he has worked extremely hard to make things happen in HK.
He doesn’t decide his salary
Sorry, I chuckled.
he may have negotiated it though.
Pannu is paid according to industry benchmarks, according to the BIH accounts.
When I asked him on here which industry benchmarks, I got accused by Pannu of harrassing him and nearly threatened with legal action. I would contend that if, as you say he is worth it then he would be able to answer that question in a fairly straightforward manner.
He doesn’t have to answer to you and you are out of order by asking in the first place. How much do you earn and can you justify it? Do you think he would take money from the club if it meant going into administration? He is justifying his salary otherwise the shareholders would have sacked him. He is an employee not the owner.
Actually, as a shareholder in BIH he IS answerable to me, and I am entitled to ask him why he is worth that recompense. Not to mention it’s a perfectly valid journalistic question.
Perhaps as Journalist you should read up on your rights here. You can ask him privately and he has the right to refuse in the same way as any employee of any company. If he told you would you have then published it? His guess would be yes you would, hence the threat.
I doubt the majority of readers would know a balance sheet from a bed sheet, so although he has refused he has also prevented a storm in a teacup.
Gaz
Perhaps as a journalist I know what I’m talking about. Perhaps the fact that I didn’t get sued or even a legal letter constitutes the fact that I had done nothing wrong. Perhaps you should take a step back and think that whilst people might not understand balance sheets etc it doesn’t mean that they’re not entitled to know information which has a material effect on the club – more so if that information actually backs Pannu’s position.
Tismyk, please remember its the owners who are a joke and not the club itself, we won a
major trophy 3 years ago and the only midland club this century to do so……vile was 1996
and there proud history remains ” history” and to think that not one teenage vile fan can
remember them winning anything… my son can so not a bad joke to hit the vile fans with
i think!! KRO.
Sorry should of read say’s.
I would also place a bet that after this EGM and what has been announced, LC will be more than likely considering what his plans might be during the summer. No-one in their right mind would continue to stay in such a restricted and confined manner of employment, if there was viable alternatives. At season’s end, I’m pretty sure some Championship managerial vacancies will arise that would be appealing to any young and ambitious manager with a possibility of not having to have such uncertainties to contend with all the time.
Unless the new board has immediate plans to diversify into oil and gas exploration, I cannot see them selling the football club. As I understand it the club represents 98% of BIH’s turnover and, in the short term, if the sell they are left with sweet f.a.
That’s a right joke ain’t it Rich.
Diversify into other industries? They only exist in the first place cos of us.
Not true Paul – there was a company before they bought BCFC and there is nothing stopping them branching out in new directions as well as owning us.
So what industries did BIH dabble in before us then?
Coal mining, restaurant owning, apparel sourcing and manufacturing to name three.
so where are these businesses now? You can dress it up any way you like, make excuses for them, try to second guess what their plans and intentions may be, but the fact is they have used BCFC/ Sky money as a cash cow. The PP video is the most telling piece of reporting I have seen during this whole debacle, he clearly doesn’t give a toss about Blues and the state of the club. This video has totally shocked me, he hadn’t even gone to the trouble of having a pre-prepared statement ready, just blustered through and trotted out the same garbage as he’s been doing for the last three years.
Well that’s good knowledge and news to me.
What kind of profits were they making and where were all these operations based?
Why don’t you study the stock market and find out Paul? I’m kinda tied up with work myself to be doing all the work for you… ;)
Troubles, What Troubles??? In three words, Pannu has completed dismissed 2 years of pain and angst of the supporters. All along, he never knew we had our troubles!!
“What troubles” are you messing around pannu are you in neverland or something.
Don’t compare us to man utd, for one they turnover a lot more than the 300million debt it’s spare change to them, man utd have money to spend, they have not sold all there top talent nore have they got in the free transfers and young kids on loan that’s the problem, we need owners with money which you and the rest of you at BIHL will never have, nore will you ever be welcome at our club
Here’s a kind message Carson, get your family to sanction the sale of the club get a little money an leave and never come back. You are never going to make back your 81.5m you paid it was about four times what it was worth then and your still hoping for 30 odd million, what a joke we have nothing left.
Please please leave, as long as we are part of BIHL our club will never be free of Carson and his (family) the banners should read BIHL out!
This looked so promising when Carson stepped down but now, anyone of them board members is now Carson that’s the real problem. BIHL out!
I HAVE TO SAY THAT I JUST DONT TRUST ANYTHING MR PANNU HAS TO SAY. HE WILL JUST ABOUT SAY ANYTHING TO KEEP THE FANS QUIET. IM JUST NOT INTERESTED ANYMORE AND WONT RELAX TILL THEY GONE. WHAT SULLIVAN AND GOLD BUILT IN A LONG PERIOD OF TIME, THESE MORONS HAVE DESTROYED IN TWO YEARS. AS FAR AS IM CONCERNED IT IS UNFORGIVEABLE AND WILL NEVER BE FORGOTTEN.
Turn your caps off.
What Sullivan and Gold built was destroyed by the moronic element of the Blues Support with their never-ending bleating and moaning, their name calling , their disgusting behavior towards Sullivan in front of his Son and the insults thrown at Karen Brady. Some Fans have short memories.
chas totally agree with you mate
Very true !! Until Saturday the golds and sully took a hell of a lot more hate than these people Brady was even taken to court for the Brady tax what a sad bunch we are
What they built!
It was the fans and city investors that built BCFC through two share issues that re-built the ground.
Look how they stalled on finishing it when it might have to come out of their own pockets.
isabreman you worry to much relisting means that
the board are more vunerable to results of the
team …man.u have lost over a billion with the poor
form of the team …if the new board fail to run blues
at a profit they will go ..kro
Bottom line is they need the club and its cash flow to support the refloatation so nothing is going to change on that front for now.
Also oil exploration is an expensive game and any revenue that can be extracted from BCFC would i suspect go that way if that is their goal.
This is all my own speculation and has no hard evidence except my gut feeling and our experiences over the last couple of years.
What cash flow?
They need to show the HKSE they are a viable unit to relist and that would include cashflow of their businesses and as we are their business it would be safe to assume there is something they could use to evidence that in their favour.
Sustained? If sustained = “not going into admin” then we are sustained, but only just.
As for “moving forward”, in anyone’s book that means “improvement”, and we’re not likely to get that under the current regime without some cash being put in. I fear that everything hinges on the gamble of the shares reinstatement, but what if nobody wants to invest?
i cant understand for the life of me why someone would want to continue runnung a
buisiness thats loosing money cant get investment and his hated with a passion by
the people there trying to get money from ( the fans) ….. and i thought this guy was
intelligent and had good buisiness sense…..well maybe not! KRO.
Troubles, What Troubles? If Blues fans unite and get behind the protests that have finally started…we could show Peter Pannu what troubles! He must be in Never Never land? solidarity is the way to defeat these tyrants. KRO…Long live the Hook!
Funniest part of the statement to me was “our beloved club”. I’ve spent more time at St Andrews this season than he has, and probably spent more cash there as well. Feels that the word beloved should be forsaken. All credit to LC snd the players for doing their best, the fans for turning up week in and out, the brilliant away following, and the Delay No More protest.
What did Pannu mean by stating that BCFC are a springboard for other businesses? Did he mean that he is not really concerned for BCFC rather any future business which can be funded by taking profits out of BCFC or maybe he means the people that sell the hot dogs inside the ground??
Troubles”What Trubles”?
For once he’s being very honest-how would he know any different?
When did he last set foot in STA and how many times a year does he visit the club.?
Boycott the games and stop feeding his expensive life style.
comment edited
So pp sprouted his normal rubbish and all about how bih can move on fans are not interested in bih even though they own us delay no more pp which part of we dont want you at st andrews dont you understand delay no more and go
As we all know talk is cheap and all we can do is let it all play out and hopefully we will rise from the ashes as a club , I don’t know about troubles at the club we have been in crisis management and financial meltdown.
Its a case of we will believe what Mr Pannu or any other member of this board says when we see it. Words are easy aren’t they, lets see the action. On a positive side, Mr Pannu states that he will endeavour to keep us supporters more informed about what is going on in Hong Kong. That should save you giving us the information all of the time almajir!
Pannu said they are investigating ways of raising cash for investment, they are starting with Tombola and a car boot sale. Only a million pounds a year gets that business acumen
I think the one word that sums it all up trust and majority of blues fans dont trust bihl or most of all pp
ime fed up of ” fans” not supporters comming on here and telling the supporters to boycott
the games….what planet are you on?…the ” fans” have already boycotted the team and
the club there soppose to ” love” so dont expect the supporters to do the same……never
in a million years and ime proud to say that….stay at home and keep stum!!! KRO.
Unless they’ve been living on another planet, there’s no way that Carson Yeung, Peter Pannu, or the rest of the menagerie can NOT know how much they’re disliked/despised over here. But at the end of the day, they could’t give a Friar Tuck how we feel or what we think. They’ll go on their merry way regardless. Boycotting won’t have any effect… the only way we can have OUR say, is to support our club despite them, not because of them.
Staffs Blue,
Mostly I agree with your comments but where will they get the revenue needed to sustain the company if the fans boycott the club.Its the only tool the fans have…MONEY and they need it.
If I wrote on here my true feelings towards both BIH and especially Mr Pannu you would have to delete it and I’d probably end up in court fighting a libel case, which is something I can’t afford as I never received the financial recompense during my career afforded to PP. Suffice to say I neither like nor trust the man and come June if he still has any relationship with BCFC I will have to seriously consider whether or not to renew my season ticket, even though this year I qualify for a discounted purchase price. This season I have refused to buy anything at the ground, food or merchandising and have not attended any cup games as these are not covered by my season ticket. Indeed I only renewed as I was assured by a close friend that a sale of the club was imminent. I know many people who refuse to attend the ground whilst these people run the club and I don’t blame them!
Those kind of people make me sick to the core
If you love your club and can afford it there is no-one who can stop you going down.
If disagreeing with the owners stops you from going down then I for one hope you never come back.
I prefer people who actually love the club and go, not those who discuss endlessly but don’t and never will
The self righteous Paul Carter bangs his drum once more. If only all supporters we’re as dedicated at it as you hey mate. We all have our own story when it comes to our love for the blues fella …. If you had you’re way, only the remaining few season ticket holders would ever be allowed back in St Andrews ever again. God love who ever has a season ticket next to you Paul…. I bet you’re a joy to sit next to… Lol.
Think I have the displeasure of him next to me Drew.
The small group next to me start moaning when they take their seats, the weather, buses, traffic, queues, as the line up is announced, it is nearly always the same comment, “What ? team is that, couldn’t pick his nose, won’t ?win today”
That has been since the Friendly with Hull and every game since.
Luckily I get to away games and have met some really nice supporters win, lose or draw, the atmosphere is the same.
KRO+DNM
Here, here Chris. Same for me mate. I had a season ticket for 25 years on the bounce but at the moment, away games are all I take in. Half the home crowd seem to follow our good friend Mr Carter’s attitude and frankly I can’t listen to it anymore.
How reassuring that we’ll be getting more regular updates. Assume that means one a year rather than one very 2 years. I shall make a note in my diary for February 2015 to look forward to the next update on the status of Man U, Arsenal and the baggies. Off now to pack up my troubles in the old BCFC kit bag.
Never posted before but been an avid reader. It is clear that Carson Yeung is just preparing for the worst by transferring his interest elsewhere, he is just protecting his most valuable (as he see’s it) asset. The problem is, that I’m not sure how we are going to get our football club back without the club going in to admin, thus forcing a sale. Dare I say it, mass boycott? Or someone setting up BCFC 2014?
Extremely pleased that the out come of the EGM was to be 100%……positivity now for the relisting to happen…….
It was right that carson steps down from both positions…..until his verdict is heard……he has followed the protocol laid down in the conditions of the relisting……
And paul totally with your post at 4.48pm………
Lets hope that CY has a huge legal bill, ends up in the slammer and has to sell to finance his appeal. KRO
I’d like to see new owners with financial muscle take over as much as anybody, but I doubt it will happen. We’ve got a below average stadium & below average support (apart from cup finals as Paul reminds us regularly).
I don’t like the lynch mob mentality which seems to be building up at present, similar to what drove out Sullivan – he had the last laugh, didn’t he? Some of the chants on Saturday could have alienated the entire Chinese nation, never mind CY & PP.
I find it laughable that people think BCFC funds BIHL. Have you seen our home attendances? Cash flow must be awful
CY put far more in to Blues than Sullivan ever did, it was a disaster when his assets were frozen. In many ways it’s a miracle that the club has survived this far. I hope there’s somebody waiting to invest big money, somehow I doubt it.
Leeds appears to be a bigger disaster than blues…….
Very true indeed, some react like Carson deliberately decided to destroy the football club. The guy got arrested and had his assets frozen, hence why the club is in this mess. Noone is prepared to pay the asking price of around £32 million and he is entitled to ask for what he wants, also there is no sultan out there wanting Birmingham City. The statement Mr Pannu made is not negative, its a positive and it is the first stepping stone to securing investment back into the football club and we can all move forward. The proof will be in the pudding because like I said previously, I will only believe what is said when I see it.
Well, it is very nice to see some positivity posted on here. Shame so many refuse to see what is going on and why we are in the mess we are.
Any investment sounds like it is going anywhere else but the football club. Mr Pannu will make sure he continues to get his “consultancy fees” that we can rely on. The simple fact of the matter is unless someone or a group comes along with more money than sense and pays the £32m which is at least twice what the club is worth there will continue to be a decline in the quality of the playing staff and we will be in the Football League.
The statement by the Company seems to rely very heavily on assertions made by people/organisations that are not exactly independent to show that they have fulfilled the HK stock market requirements for relisting. Depending on how things work in HK that may or may not be significant.
Most clubs when relegated shed staff and players. We were no different
We continued selling staff and players due to the fact that no investment was forthcoming to bridge any gaps.
This isn’t like most clubs, Mr Pannu.
Having an owner that can’t invest due a court case is not like most clubs.
If we are re-listed and so can put investment into the club, or are sold, this is good news, so well done for that bit.
But to pretend there is no problem…..very poor.
Hawk, There has been no investment because Yeung’s money has been frozen and couldn’t keep putting money in, that was bad luck. As Retired and weary says, he put loads into the Club when he first took over and won us the Cup . Be Honest about things.
Will you still think it’d all “bad luck” on the 28th if a guilty verdict comes in? The only bad luck involved here is Yeung and his cronies deciding to get their claws into out football club. Get a grip.
Following relegation from the Premiership, which was a massive blow to BIH, players had to be sold. That was understandable because unless you have rich owners putting money in, you have to reduce the wage bill, you also have to abide by the fair play rules too. But I think what torments supporters is the fact that home grown young players were sold far to cheaply just to keep the club afloat. This was down to the fact that Carson had his assets frozen and was unable to financially support the club, money had to come from somewhere. I certainly hope, following todays statement, that selling our home grown talent to keep the club ticking over, is a thing of the past and if, as Mr Pannu said, there is no troubles at the club, then can he confirm that only “eye popping offers” will be considered in future not peanuts. In short, the club does not have to sell to survive anymore.
Dream on mate.
Andy, re your comment about selling Players too cheaply, who sets the value of Players ? When we sold Redmond posters on here compared him to Tom Ince , who was ‘valued’ at £14m . But no-one would pay £14m for him, his last price that I saw quoted was £4m , so perhaps we actually got Redmonds value at that time.
I fear that Shirley is right.
Once the last few big earners are gone replaced by more lower league journeymen and kids ,the club may be able to survive without wholesale player sales,just as long as the faithful keep buying season tickets.which league we are in by then I dread to think.
I think Mr Pannu said something in his statement along the lines of we will continue to sustain the club in the same way we have done for the last two or three years. There is nothing in that sentence, given their behaviour over the last two or three years, that provides me with the slightest crumb of comfort or confidence for the next two or three years. The only thing that will save us is a change in ownership.
My guess is that this is a result of CY being advised by his brief that he is likely to go down. He has done the decent thing here by now stepping down, and I don’t blame him for hanging on right to the death. He has invested more in the club than any previous owners and I doubt anyone could deny him the right to try hanging onto it. PP is a political player and has played a very active and leading role in keeping the club afloat on income rather than investment. Not an easy task given the clubs financial liabilities and poor income from ticket sales and commercial activities. If he gets a million a year he has been worth it.
I believe the books are now in better order otherwise today wouldn’t have happened, and lets face it who would put money into BCFC just to stop the £5 a game special offer supporters from moaning? This activity is a step in the right direction and puts the club in a better position to be sold or invested in by someone with millions to spend on a hobby. Lets face it, the only profit made in football is by the footballers and the agents which brings me to the one in particular who has drained our club. Mr Z. Now this was the one major error made by PP as I believe he was the one who negotiated his contract.
Lets be patient and see what happens but I do think this is the first step to our recovery
KRO
Godd god what a statement! So Ziggy is to blame fro everything? Unbelievable!!!!
Read it again Chudit lol
Gaz, are you for real is this this a wind-up? I can’t believe any rational person would hold such an opinion.
So whats your rational take on it Agent McLeish?
How I agree with your Post, Gaz. Well said.
Anyone out there think we should just give them the benefit of the doubt for a while to see if they come up with money for the club and turn things around?
To be honest I think the wounds are too deep to heal and the only way of saving anything is amputation from the CY, BIHL era.
There will always be the big black cloud of contempt hanging over St Andrews, that’s my opinion.
KRO+DNM
after the 1st question on the video link i noticed pannu was a good deflector of question.. then thought ‘well he’s a former policeman, their used to the pyschology of asking questions, therefore use to answering questions in the same way’ . the second question reaffirmed this belief.. ask carson he said.. ‘why he left’ wasnt the question.. we all know its due to fulfiling requirements of relisting (thanks to al lol) but the answer to that question would be ‘no, until the result of the case at least, changes nothng’. thats all i watched so far but thought id comment as if it wernt for this i doubt i would of seen it.. good work with this often partisan
forget all the rubbish for one moment about blues – there is a serious cancer in football, players wages !! if brighton with the highest average crowd lose 14 million pounds what hope is there for any club !!
who would buy a football club – it is a massive gamble
i fear who ever takes us over if they go chasing the premier dream, it will end in further tears
Yeung to be found not guilty, then he finds £50m in spare change down the back of the sofa to invest in Blues. We’ll have time to bring in a couple of much more expensive loan players for this season, and then buy whoever we want in the summer. 18 months from now, we’ll be in the Premier, on the verge of repeating our Carling Cup success . . . How we’ll look back and laugh at all this.
Then the alarm clock went off and it was just another rainy Thursday.
The EGM and the various releases shows how prudent and smart PP has been and how he had helped the whole group and the club. He kept the club alive until now despite the bank stopping the loan facility and HK assets all frozen. Last year even reported profits too and they will resume trading soon. The group immediately is richer by 350M HK as a listed vehicle according to the financial circles is worth about 400M HK or more. New investors will be interested…… Carson s debts are move to HK ( a BIG BIG credit to Pannu) and the club is now debt free from the accounts. What more can we ask from PP….with all his hands tied by Carson’s arrest and other problems.
Let s see what comes next and it appear PP talks when he need to talk and not just talk for the sake of talking.
Let s give him a break.
Hope they can new sell and we all move on….A BIG Thank YOu Pannu
He’s also helped himself to a wad of cash. What planet are you from? I find it hard to comprehend that people hold views like this. Are you living in some kind of parallel reality?
His salary is paid by the owners and if they think he deserves it for keeping the club afloat then so be it. For the record I think he deserves it too. By all means if we were in administration with 10 points docked then slate the bloke but he has kept us afloat on a shoestring and worked hard in getting new investment plus persuading CY this is the best thing to do for the benefit of the club and its supporters.
If you want a story on financial rape of a football club take a look at Man U.
KRO
Sorry ….this is the same Peter Pannu we are talking about isn’t it Gaz or am I taking too many drugs and have wondered in to a parallel universe?
‘Worked hard on getting new investment’? …… perhaps you can enlighten me there Gaz as I can’t say I have noticed much lately. If we were in administration with 10 points deducted, I would be saying he WAS worth every penny and congratulating him as we would no longer have to put up with these remotely operating bunch of you know what’s. At least then we might have some chance of getting our club back and a stack of buyers outside the administrators office.
I’m afraid we are now faced with more of the same….governed by invisible figures, rudderless and on the decline.
“what troubles” says Mr Pannu …… those are the words of your knight in shining armour Gaz. What an incite in to exactly what they think of the bread and butter blues fans. Not a great deal one would suggest.
Taking drugs can be bad for you Drew so do try not to take too many. Have you ever run or managed a company? Do you have any idea what goes on behind the scenes and beyond the shop floor? I doubt it.
Your right. CY invested in the club just to p***s us all off and just to make it more fun he put PP in charge to get right up your nose. Worth every penny I say.
Drew, there was investment earlier this season of over a million pounds that Pannu got. As Daniel to verify it.
There was investment in BIH. As in a loan, which isn’t investment. And was to pay for cashflow at BIH, not BCFC. Blues didn’t see a penny of it. Try again Chas.
So who spent it on what? I say it was spent on the club one way or another. The only way you can invest in the club is by either buying shares or by way of a loan. Gold and Sullivan did it all the time.
Gaz – I can tell you categorically for a fact that not a penny went to BCFC. Now you can choose to believe that or not, I don’t really care – and before you ask me, yes, I’m a company director :)
So are you saying someone pocketed the money?
no, I’m saying it went into the running of BIH the company – not BCFC the company. It went to pay debts and ensure they didn’t go bust.
So BIH have a loan that BIH has to hold on the books as a liability. If BCFC pay it then BCFC would be loaning the money to BIH which in turn has to be repaid at some stage. I don’t think this is a liability to BCFC.
I suggest the money was used to stabilise BIH by paying the huge accountancy, consultancy and administration fees required to get it to where it is now. Good business and money well spent because BCFC are now better off without having to borrow the money. The idea that BCFC borrowed the money to benefit BIH is unlikely although if BCFC borrowed the money and then lent it to BIH I would say its a very beneficial loan.
Time will tell and there is nothing we can do but wait.
If it was spent on wages and running costs then Blues saw all of it. The money raised from any club activity including selling players has to be used to pay the bills otherwise the receivers will turn up.
Sometimes there is a bit of money left over to invest in a player or a loan deal and wages for a player. This has happened in January even though some people think we don’t have to pay loan fees and wages. Its becoming obvious that some people think the club get everything for nothing and once we sign a player we don’t have to pay them.
This is what started the where’s the money gone trouble with Gold and Sullivan. We get 30m from Sky and expect to spend 30m on transfer fees.
He brought money into the Club, which is what Drew said he hadn’t done. Just a tad hair splitting . How many times have posters promised doom and gloom, no Players , no Ground etc., only to be proved wrong?
I can only assume you are his wife? Perhaps you too enjoy the fruits of his £1,000,000 salary while our club limps in to oblivion. Perhaps the higher his salary, the more he cares?.
when a judge sustains in court it means he agrees with the complaints.
obviosly B.I.H. are not listening .. the idea of having a board is
to make sure that a company does not run at a loss.having to sell
off assets every year is running at a loss .it must stop B.I.H have
sold over 40,000,000 pounds worth of players from Bcfc it must stop
. when zigics contract ends we must push forward lee clark must
have some money to spend in the summer .nothing else will do
I think he will have money to spend. Thats if he sticks around to be moaned at.
I’ll have an ounce of what you’re smoking, cos clearly it’s good.
Intelligence and business sense are my stimulant. How about someone gives me good reason as to why CY and PP got involved with BCFC
I would love to but I don’t want to be sued for libel
Only if your wrong so what are you worried about?
First person to say make money is right. Invest loads of money in the club to raise our profile in china. It didn’t work because CY was arrested and his assets were frozen.
No person in their right minds would pay 30m for us unless we were in the Prem and had some assets that outweighed our liabilities, so for now we have to get real and stick with the current owners.
I still say if CY is found not guilty he will invest again. Just because PP doesn’t come out making statements at the drop of a hat doesn’t mean he doesn’t care. If there’s nothing to say then say nothing, and lets face it what has happened behind the scenes that could be of any interest anyway. No firm serious offers or investments in the club so no point talking about rumours. He speaks now and what he says is pulled apart just because he implied there are no problems. Take notice of what else was said and it is positive. .
pp made a rod for his own back .it doesnt matter what race
or creed or colour at blues as long as you have got a blue
nose .but what most fans insist on is respect .the new
chairman must be open with all at BC as blues fans over
the years have heard it all before and are not fools .we are
a family and the board must act like it to belong .other than
that lets get this club moving .failure is not allowed ..KRO
Good to see some positive posters for once regarding carson and pp…..kro
Well said Mark. Too often we see negative comments that are unqualified and out of proportion. I guess it makes the odd one or two feel important if they can stir up a bit of hatred and a few protests, none of which are constructive or do anything to help the club and its supporters. How do the players feel and react to this? I think the evidence is there for all to see when we play at home.
Gaz
I disagree. Fans were galvanised on Saturday, rather than apathy there was noise and rather than people moaning they got behind the team second half. That is an achievement in itself.
So the protest didn’t distract from what was happening on the pitch and the players all said wow what brilliant supporters, cant wait for the next home game. Was that the people who pay our wages they were going on about? I don’t mind banter but what I am seeing and reading is hatred.
totally agree Gaz the main event is about supporters who fully endorse the here and now situation….it great to be informed sought about our board. But imo some supporters have taken it beyond limited of borderline hatred , and expressing racist chants. it quite simply really nothing was going to change at the top unless they chose too…………….if those fans think making personal gestures or comments really hurts them they are living in cloud cuckoo land. First AND foremost they are business men and ladies and would be thick skinned.
Sometimes when things are put in the domain they always get twisted and mis-interpretation so they are working on a need to know basis until facts can become more clearer, and less challenged imo i dont have a problem with this. kro Smoking administration continuously is just bare facts lies…….
Daniel you have brilliant with the information about blues.
Surely you cannot be sued for expoiting facts????
Facts or suspicions Mark. I think suspicions as you cant be sued for telling the truth unless you are tied into a non disclosure agreement or it brings someone or something into disrepute. Just playing with peoples minds and letting them fill the gaps which in turn gets idiots like me wasting my time trying to rationalise to the irrational.
It been like the 12 angry men……….
Only 11 allowed on the pitch at the same time :-))
Its all about passion and we react in different ways, but one thing for sure we all love the Blues and anyone we suspect of wrong doing will get it one way or the other
KRO
Just a thought here but if PP had said publicly that Blues were a bag of sh*t and a complete nightmare financially do you think this would be the right thing to say if he was seeking buyers and investment?
Put your house up for sale and get the agent to say its haunted and the roof leaks? No way!! get the agent to lie.
i hear Pepe Mel was given a company car by west brom and
in driving round brum got lost …perhaps blues fans should
buy PP a reliant robin and all make a wish. ..K.R.O.
So its not about being passionate about the Blues then? Your posting on the wrong blog mate. Dont get hung up on the shape of the planet, it can mess with your head, Its perfectly flat in my world.
its about fans who care deeply about bcfc…..players and manager they watch, and cheer and support. The one thing been a nose what ever tribulations occur hold your head up, your scarf aloft and sing keep your on to the end of road……………… kro
*right