Often Partisan

Postcards from HK: Questions without answers

It’s the day after the verdict now and with the dust settled I’ve had some time to think about the whole saga. Yesterday I published my analysis of the verdict and amongst other things gave interviews to Central News and The Goalzone. What strikes me is that despite the thought that yesterday would finally answer some questions what it has done is opened up more questions.

The chief one that springs to mind right now is can BIH actually sell the club. I’m not talking about mechanics of listing on the HKSE or about people like Paladini wanting to make an offer; what I am wondering about is the questions over the money that was used to buy the club as I raised yesterday. We don’t know for sure – we can only go on the Judge’s doubts at the moment – but IF the money from Prince Evans was used to buy the club, I can foresee there being trouble. A good portion of that money was originally put into the accounts by Cheung Chi Tai – someone who it was alleged openly in the High Court as being a boss of the Wo Hop To triad society. Can BIH offer clean title to the club to a potential buyer? I don’t know.

One way we might be able to find out is if Beijing Liangzhu complete their deal. They have until Friday evening to do so under the supplemental agreement that was agreed on February 25. I’ve been trying to stand up information on the company and I can only give you unconfirmed rumour based on what someone has told me is available from a Chinese credit report at present – that the company is owned by someone connected to Carson, that it has not filed accounts since 2010 and that it is ranked 167 out of 180 of media companies in Beijing. Buried in this HK Standard piece is the following statement:

Birmingham International, which was unavailable for comment when contacted by AFP, refused to explain why the firm [Beijing Liangzhu] did not exist at its registered address, citing confidentiality clauses, the paper said.

There is no email address available or telephone number available and now there is no company address either. For a media company making a multi-million pound international acquisition it doesn’t fill me with confidence whatsoever. It’s another unanswered question and BIH don’t seem to want to talk about it.

People have also seized from that article hope that the HK Government can seize the BIH shares from Carson but I would preach caution. From the same article, there is the following quote:

The confiscation process could be lengthy, Hong Kong University law professor Simon Young told AFP, adding that there would be bargaining to determine which assets belonging to a defendant should be used to satisfy the order.

“Enforcement may not take place until all avenues of appeal have been exhausted and that could take years,” Young said.

Which is much as I’ve been saying for the past few weeks. My legal friends here have told me that confiscation orders aren’t quick processes and naturally it will be fought by Carson all the way – particularly if and more likely when he appeals his conviction.

Peter Pannu has said he’s going to talk to us more often. I know that there are issues over confidentiality and NDAs, that he has to be careful what he says – and I know that he feels that he may not be believed by fans. However, if he tells us the truth then he has nothing to fear – because even if people don’t believe him what he says will come to pass. There are some questions he cannot answer but it would help if he can give us more reassurance that we won’t be dropped any further in it.

Edit: this FT piece also makes for excellent reading re Beijing Liangzhu

 

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135 Responses to “Postcards from HK: Questions without answers”

  • jack1 says:

    re-posted: I see OP and BM looked into the relationship with BDO as auditor. BDO must be regretting the work it did on the takeover so it could be a good time to ask if they reported any money laundering concerns to NCA (they can’t answer as it amounts to tipping off but if you publish the letter you sent in the BM it’ll get a response). What does BDO mean when it wasn’t receiving all the information for its incomplete audit? Does this extend beyond the CY transactions into other funders? It is not too late for them to make a report to NCA if there were suspicions. Also worth a letter to the current auditors JH CPA Alliance Ltd if they have any concerns. If Birmingham City plc can be shown to have suffered losses or asset transfers perhaps there might be a solution to bring this to a quicker conclusion in the UK rather than via HK. Dunno if will work but worth a Billy Wright blast.

  • jack1 says:

    oh and the same letter on any ML concerns to the FL given they had a relationship with BC Plc

  • Lee says:

    Can’t help but think it’s going to get worse before it gets better, every day he takes being a dodgy c**t to a new level, and the fact he’s been shown to be the biggest bullshitter on two legs he still has the audacity to appeal it, worst thing to happen in the history of Birmingham city FC

  • WalmleySteve says:

    Dan – I recall you tweeting that Mr Pavlakis had agreed to meet with you when you get back to the UK. Seems the obvious opportunity to obtain some clarity on this and many other issues.

  • Mortonsblue says:

    While the Football League sit on the fence prodding with a long stick anything that means they will have to get off their backsides and look after the interests of football clubs and their supporters I am beginning to think I may never see the end of this sorry saga in my lifetime!

  • jack1 says:

    And to Keith Harris…he’ll want to set the record straight no doubt

  • Agent McLeish says:

    PP will say whatever CY tells him to say. CY was described by a a top HK Judge as a persistent liar. Therefore it does not take a genius to work out that what PP says will be pure BS.

  • teejay says:

    this is sounding worse as every day goes bye its obvious they do not give a shit about the supporters or the history and they have been proven to be out and out liars yeoung has shared all his woes with the supporters and has dragged them through the mud and the club who could believe a word pannu says he is jyust a puppet a very well paid puppet its all bull shit they have destroyed this club

  • Atahualpa is a BlueNose says:

    Even whilst CY is appealing against his conviction and any subsequent confiscation order, going on past form, he’ll probably get someone who is closely linked to himself to buy his shares in BIH if they are put up for sale by the authorities. BCFC is the only thing left that offers him hope of some redemption from the situation he finds himself in. It would explain why he has trusted PP so much with his affairs, as it’s highly unlikely an “outsider” could have carried out his wishes and orders to the extent that PP has without wanting to step aside due to the continuing uncertainties and constant struggles to keep things moving.

    CY was always the fulcrum when his company bought Blues; in all the issues that he is engulfed in, that is probably one of the few mainstays – even if the club are just about keeping their head above water. He will battle it out until the end, regardless of what the price of that might be. If nothing else, his past deeds and decisions have shown us this much at least.

    The only way BCFC will be in the hands of new ownership is when it is done with hostility and BIHL and CY cannot do much about it other than accept what has been paid for their stake.

    Almajir, do you know what the situation with his home on Barker Road is?

  • Bluenosesol says:

    Which one of the 5 gulity charges is Yeung going to appeal?

  • barryjblue says:

    Hi Dan This saga could run as long as The Mousetrap!! Dan CY has been convicted of moneylaundering 55million between Jan 2001-Dec2007 so question is where did 15 million come from to aquire 29,9pcof BCFC shares from Messers Sullivan and Gold Bros ? purchasedin June /July 2007 ?
    ?

  • DoctorD says:

    Dan — at this rate, you’re going to have to write a follow-up book.

    I’m starting to hope this advertising firm does NOT buy a stake in the club. That looks like it’s only going to make things much much worse.

  • Quokkasskip says:

    Without ‘new’ money into BIHL and another business ie oil and gas, Bcfc will not be sold, as they will lose their HKSE listing

    No listing= no company=no smoke and mirrors=no gravy train

    We therefore need movement in BIHL regardless of the source and inter related it is.

    All in it is a nightmare scenario.

    Surely the football league have to do something?

  • BlueNose1812 says:

    If CY used dirty money to buy BCFC, can the transaction be voided? Will we end up with Gollivan back in charge? Discuss :-)

  • Ali Duncan says:

    And it continues unabated. It sounds like it will be years not months before this will all be sorted. Excellent work as always Dan but I often feel when reading your blog that I have a love and passion for shady dealings, the Hong Kong stock exchange and faceless executives many miles away. I long for the day when all we’re talking about is the football.

  • BillyBlue says:

    Yeung and Pannu might well be too scared to sell BCFC to ‘outsiders’ because even more, as yet ‘secret’, dealings and money movements might be ‘discovered’.

    It’s amazing, in this day and age, that BCFC was liable to repay Yeung £!5m for a ‘loan of which there is no record whatsoever! How many businesses, in the ‘real world’, would ‘repay’ a loan for which there is no record!!! Not a single business would.

    The new Chairman of BIHL is known as a close associate of Yeung. BCFC 4 man board is now made up of Yeung’s; son, brother-in-law, prospective brother-in-law and Pannu. The owner of the 12% stake company is also rumoured to be a close associate of Yeung. Yet despite all this the FL doesn’t think that the convicted criminal and liar has more than 30% influence at BCFC and, Pannu is going to tell us the truth – whoops there goes another pig overhead.

    Anything and everything to do with BIHL and BCFC has, is and will be, controlled by Yeung by one means or another – end of.

    • StaffsBlue says:

      The hard part is proving it.

      • BillyBlue says:

        Yeung has sold BIHL shares worth HK$43.18m same time as BIHL announce 12% sale to mystery buyer, that no-one can find a single thing & based in empty office, for £45m! Now it might just be a co-incidence, but…….?
        Yeung has put his brother-in-law, prospective brother-in-law, son and Pannu, as the 4 board members at BCFC. Now it might be co-incidence, but…..?
        There might just be enough evidence, or there might not……?
        Enough for authorities to investigate perhaps? Or perhaps they don’t want to…..?

        • BillyBlue says:

          Above should read HK$45m not £45m, but everything else holds.

        • almajir says:

          1) Beijing Liangzhu are buying 12% of BCFC, not BIHL
          2) If anyone bought anything over 5% it is a reportable transaction and we’d know about it.
          3) After speaking to the authorities today, no they will not comment

          • BillyBlue says:

            HKSE Disclosure that Carson Yeung has SOLD 188,892,000 shares in BIHL for a total sum of HK$43.18m
            During this period of sales, BIHL announced proposed sale of 12% of BCFC for a sum of HK$45m to Beijing Lianghu Media International. No information about this company can be found despite investigation by the Financial Times
            Is there a link between these dealings?
            Don’t you think that HKSE and/or Football League should investigate to find out?

          • almajir says:

            Billy – I don’t believe there is.

  • Atahualpa is a BlueNose says:

    Almajir

    Does CY still own his home on the Peak?

    • BillyBlue says:

      Thought guy who lent him money to buy house was going to court to re-possess because Yeung not made any repayments?

      • Atahualpa is a BlueNose says:

        I recall there was a case by the bank involved trying to repossess the property and CY’s mum and ex-wife claiming they owned a share.

        There was also something about CY again reaching a compromise deal about repayments but can’t seem to remember if there’s been anything since.

  • Bluenosesol says:

    Thank you for your email.

    Please forward any complaint you have to enquiries@football-league.co.uk or via post to the following postal address:

    The Football League Ltd

    Customer Services Department
    Edward VII Quay
    Navigation Way
    Preston
    PR2 2YF

    Thank you for contacting The Football League.

    Kind Regards

    Amanda Craig

    Customer Services Administrator
    The Football League

    • Frankie says:

      Will be a waste of time.
      I wrote to Football Association, who referred me to football League at that address.
      I wrote to them querying how an ex-hairdresser on charges of money laundering could possibly pass the fit and proper persons test.
      They referred me to the ‘Fit and Proper persons test.

      • almajir says:

        Well, I could have told you it had nothing to do with the FA.

        Also – I would have to say Frankie if you want them to do anything you have to show them where their rules have broken. If you don’t want them to fob you off you have to write something that they cannot fob off.

        • Frankie says:

          Yes, fair comment.
          It was in a moment of pique.
          Think evidence would be hard to atest to and would one open to a solicitor’s letter.
          Tracks seem to have been reasonably well covered.

  • Mickey07 says:

    I really cant see why yeung is going to appeal even the judge said hes a liar at most things,what new evidence his he going to bring to the table? He had his chance in court and made himself look a fool that he is,get it into your head yeung and your cronies are not wanted at our proud club and our city that you have shamed. ..if pannu has any sense he wont set foot in birmingham again…

  • Pandiani says:

    Dan, which MP includes St Andrew’s in their constituency? I suspect it is Shabana Mahmood (Birmingham Ladywood) but I think some of the B9 postcode falls within Birmingham Hall Green (Roger Godsiff). With a guilty verdict now given, I’d have thought now would be the perfect time for the local MP to be raising the issue with authorities and asking questions of the Football League. The fact that only a small proportion of employees and fans will be actual constituents probably puts it down the priority list but if it was any other flag-ship business with a several million pound turnover being so recklessly run, the MP would be up in arms. Probably better if it is Godsiff as he claims to be a football fan (but then so did Tony Blair!!).

    • almajir says:

      Think its Roger Godsiff

      • geoff smith says:

        The north side of the Coventry Road where St Andrew’s falls in the Nechells ward (and the Ladywood constituency). Contact Mahmood or Godsiff by all means but will they actually do anything?

        The fans’ petition to the FL may be a better bet.

        • geoff smith says:

          For what it is worth, I have emailed Blues Trust and asked if they think an online petition should now be initiated (and maybe sent to put pressure on the do-nothing Football League) but I’ve not received a reply to date.

          • BhamCityJulian says:

            Maybe they wont reply because they didnt think of it!

          • Geoff Smith says:

            Julian. With all respect, I hope you are not right about Blues Trust not replying to the email I sent ’em about a fans’ protest petition because they never thought if it first. Surely they cannot be as petty as that and my thought (based on one of almajir’s recent postings) is that the Trust might to be best shout when it comes to initiating a petition because they are a name representing Blues fans and you’d think they’d want to do something.

            It is of concern that they have still not replied.

          • Chris W says:

            Maybe you if you are not a member it could be a reason they have not replied, wrong I know, or maybe they have been inundated with e-mails.
            I believe the Blues Trust is the best way for any action, like most I am at a loss as to what would be in the best interests of the club and team.
            Dan is an excellent source of information and guidance but the trust seem to be a little obscure with ideas and at present don’t seem big in numbers to carry any weight, for information check their web site.
            Like a lot of fans, I would love to help where I can but it has to be right for the club and to be effective has to have a professional approach, well thought and supported.
            KRO+DNM

  • dave mann says:

    i think most of us are well aware that carson will still be pulling the strings from inside is
    prison cell, that is pretty damn obvious and everyone connected with him will cooperate
    or else..simples. DNM & KRO.

  • The Francis Fake says:

    I can understand why CY would want to hold on to BCFC prior to his judgement day in court. It may be that he won’t put the club up for sale until his appeal options are exhausted. His original motive to buy the club was because he was a genuine football fan who somehow had access to a stash of dodgy cash. Going forward I can’t see any benefit in him holding on. He will not have the fun side of owning a football club and he will only see more and more vitriol and antagonism as time goes by. The club will need to be drip fed with cash as the club will continue to make losses due to the negativity of the fan base. Therefore, the club cannot go up in value whilst he is still in control and it will need more financial support. PP’s did not mention anything about a sale and only about further investment. The latest reports out of Hong Kong now suggest that there is no real substance to the advertising firm that is buying shares and it looks like some kind of front. I can only hope that enough pressure can be put on the FL to explore the “shadow ownership” issue and or CY finally changes his mind when the appeals process ends.

  • TonyE says:

    If CY used dirty money to buy Blues does that mean that same said dirty money was then used to buy Wet Spam. Oh please drag the the Gollyvans into this mess!

  • phillip says:

    The only thing that is clear regarding Yeungs share dealings is the “Mongolian Fertiliser Company” he set up, thats where all the “Bullshit” came from and still is !!

  • ken says:

    Ican not see any one wanting to buy the club without conducting a full search into what has gone on in the past.They could be getting into a fine mess

  • chas says:

    Just had a message on FB from a Mate who is a Villa Fan, with a BCFC Monopoly Board with all the squares marked ‘Go to Jail’. yer’v gorra laff, aint yer.

  • ChrisG says:

    It’s alright PP saying he will talk to us more often, the problem i’ve got is I can’t & don’t believe anything he says anymore. I think the only time I will believe him is when he says the club has been sold & the new owners are stood in the kop waving blues scarves. I shan’t be holding my breath on that one happening soon though

    • John says:

      Well PP’s boss has been branded a liar by a Hong Kong judge and we all heard PP talking absolute rubbish and stretching the truth on Tom Ross’s show, so until I hear a new owners saying what their intentions are, i’ll take every thing that PP says with a pinch of salt. Unfortunately while BCFC is connected to BIH, our club will remain in very dubious circumstances. The City of Birmingham itself, could be dragged into the mire, unless the city leaders, make some comment about the disgraceful situation, the club has been dragged into, by a convicted criminal.

  • Art Watson says:

    Dan

    I know we disagree but do you seriously think the fans should continue to finance this shower of shite now that we know the extent of his criminal activities?

    • almajir says:

      As I keep saying Art, what we do this season makes no difference at all realistically.

      In the summer it’s down to individuals to do what they think is right.

  • Chris W says:

    You have once again surpassed yourself with updating the verdict and enlightening on where you see we are now.

    I think most of us on your site are of the same notion; the guilty verdict is not going to see the end of CY or BHIL anytime soon.

    CY was astute in removing himself from the firing line, he had to as a condition to get the shares re–listed, but by replacing himself with family members means he still holds some form of control and you can dress it up anyway you like, they will remain loyal to CY.

    PP can tell us the grass is green, they sky is blue and we play at St Andrews, we will still have to check it out.

    Sadly, we are no further forward and surly the only way forward is for the Football League to investigate and to make a ruling whereby BIHL has to sell the club, HKSE or the court can then confiscate any monies collected and hold until any ruling made through the resulting appeals process.
    I would not hold my breath on any investment from the media company, once again smoke and mirrors spring to mind.

    With all the legal connotations is it possible than G/S/G or West Ham Utd and the Football Association could be dragged into the equation, another reason for the Football League remaining on the fence.

    As you say more questions than answers.
    KRO+DNM

  • rhees says:

    Do we think theres any chance they will get in touch with mr pallidini

  • ken says:

    Is the reason they are hanging on to the club is they want a bit more time to muddy the waters behind the scenes. It is obvious that there is more to come out when any one interested in buying gets a look behind the scene

  • Neil says:

    Dan is carson in prison at the minute ? Do you
    Think he will stay in prison while the appeal takes place.

    • Shirley Blue says:

      He hasn’t even been sentenced yet so I would doubt it. I think that’s on Friday.

    • almajir says:

      Yes he is Lai Chi Kok.

      He’ll be in prison for a while at least – he may get bail on appeal but no real idea

      • BhamCityJulian says:

        He may not get bail on appeal if they thinks he’ll abscond to avoid alengthy prison term. If he goes missing he’ll probably be found in the last place you’d think of looking – a corporate box at Stans

  • Lee says:

    Blues are just in limbo now, bihl can’t sell blues because blues are bihl, everyone in Birmingham f***ing hates everybody and everything to do with bihl, bit of an odd situation where the fans hate the owners but the owners are thick skinned enough to not give a shit, made easy by being on the other side of the planet, and the fact the club is making them very rich people indeed, hence why people don’t go to home games, until they’re gone that club will be nothing, they are there for one reason and one reason only, money, and while it’s there to be had, they’ll just keep on taking it

  • Euston 9:15 says:

    Any news on the individuals cy was laundering the money for ?

  • Thejudge says:

    Can just see Yeung making arrangements with these companies so he can keep his claws in BCFC and BIH when he’s released from prison, there’s gotta be more to unravel surely.. Be interesting to see what happens to his shares.
    I’m not gonna start stating wild possibilities of what I think might happen (unlike so many on here) but it’s a deffo case of watch this space – anything can happen.

    • Bluenosesol says:

      Do you really think we will be a going concern in 7 years time if we dont get a regime change????

  • bluenose08 says:

    anybody see McLeish being interviewed in the pub named after him “the lazy cow”

  • Shirley Blue says:

    I think we have about 9000 ST holders at the moment though a lot of them must be concessions and for under 12s which I think were free. I can see that being down to 6,000 by the start of next season with this situation unlikely to get any better and without a far more realistic approach to pricing given that it is very likely to be a relegation battle. We will be looking at sub 10,000 crowds if that happens. I really struggle to think of anything to be optimistic about now. There has been so much come out this week that has just highlighted how bad the situation is. Those in charge of the FL growing some balls is about our only hope.

    • Chris W says:

      I think Accrington Stanley have more chance of winning the Champions league than anyone in the Hierarchy of the Football League growing anything let alone balls.
      KRO+DNM

    • StaffsBlue says:

      The Football League is a bit like custard. Yellow all the way through… and when it lies there doing bugger all… it grows a thick skin.

  • bluenoserob says:

    one thing for sure , these isnt gonna be a penny spent on our football club for years to come ,Either the buget is cut back year on year and all saleable players sold off or they run out of money and we go bust, god help us.

    • Chris W says:

      I agree we won’t see any money spent but I don’t think it would be in their interests to see us go bust, they would lose everything then.
      We will struggle along as we are, LC might walk come next season and we will be without the high earners like Ziggy. Beale and Watson will be given the caretakers role, Robbo will be Academy coach and the players will be hitching a lift to games.
      Anyone who wins the half time goal competition will be offered a contract to play in the next game, all those with boots will have a trial on Friday to sign up for the Saturday… But I don’t think we will go bust
      KRO+DNM

  • Paul Carter - The Voice of Reason he says:

    PP must be a bit embarrassed considering he’s ex police and a HK barrister to have such a close association with a convicted money launderer.

    He must have been happy at the time of purchase that the £81 million or so was Carsons personal wealth.

    I think it’s bad of Carson to mislead his old friend.

    • Drew says:

      Where’s your usual ‘ I love Carson’ stance Paul and your ‘what he’s done for this club’ speeches seem to have faded somewhat. I’m assuming you now accept we are owned by a criminal?

  • bluenoserob says:

    im no expert , but if we lost 4.5m in 6 months , how are we going to cut costs to that degree , even with ziggy and others gone?

  • sappy sad says:

    …i see a storm coming .

  • jazzzy786 says:

    Maybe relegation along with its financial losses maybe a step in the right direction to getting rid of these clowns. Crowds will dwindle to nothing and I fear once fans lose the habit of going they will stop going for good.

  • BhamCityJulian says:

    If you think I’m paying Rupert Murdoch to read his CY story afetr what Sky have done to football you are LICCL

  • Tony says:

    Its time to bring the curtain down, do away with all pleasantries drive them into the ground, by whatever means possible.

  • Gerry says:

    Surely BIHL will have to surrender the club one way or the other, hopefully all yeungs assets are stripped, force them into a sale, of course Yeung will pull the strings from his cell, all the board are now made up of yeungs family and quite possibly triad gang members, the FL need to freeze any monies coming from BCFC until everything is crystal clear about this shoddy, small time company that uses our citys name to trade, the FL know that dodgy money as been used somewhere along the lines so why are they not investigating ? I bet sullivan is laughing is gonads off at our demise, but he may not be laughing soon because as someone else said if dirty money was used to buy us, then some of it must have helped purchase west ham, swings and roundabouts mr sullivan,

  • Adebola66 says:

    To achieve maximum press attention about the fit and proper persons issues that the FL are not going to take forward,maybe we should all boycott the last home game of the season but congregate in the main car park and bring this to the press attention. If there are 10000 of us in the kop car park singing on the blues and the ground is empty that would be a poweful statement to the football league …. At least we can all turn up to the ground with tom ross blaring on our transistors without entering the stadium and the players would hear us .. In fact we could rally a massive crowd and really set a precedent .. Imagine that ? It would go all around the world

    • almajir says:

      Adebola – don’t say it, organise it.

    • Agent McLeish says:

      Can’t see what standing in a car park and singing will achieve. Any protest needs to be precise and with a clear objective to embarrass or motivate the people with clout. Now CY is convicted the FL seems the obvious choice. I have already written to my MP and the minister of sport regarding the application of the FL rules. It is true to say that a lone letter will probably be ignored but I felt I needed to do something.

  • Gerry says:

    I still think the league should take control of our finances until BIHL are thoroughly investigated and thats from Pannu right down to the tea ladies, no more money should be allowed to leave BCFC or this country until this happens, the league could freeze our bank accounts i am sure, the money can always be paid out if and when things are concluded, I really do fear for our future at the moment, we will almost certainly start next season with a points deduction because the money has dried up, we cant give assurances that we can survive another season under these lot, If Carson Yeung as a brain in his head he will give the go ahead to sell up, what on earth can he gain by hanging onto us, maybe Yeung is under orders from some dodgy people in hong kong/china to hang on to the club and possibly being threatened if he does not, speculation i know and quite likely not the case, but i did get the impression on carsons face that he was covering something up and looked like a rabbit in the headlights, the worst thing at the moment is we seem to be worse off now that he as been convicted because nobody knows whats going to happen next, the ltop knobs have expunged clubs from the league for a lot less you know, Carson Yeung as left us in a real mess and it will take years to come through it, maybe even a relegation to the conference

    • StaffsBlue says:

      BIHL’s only real asset is BCFC. Without us, BIHL would not get it’s listing on the HKSE. Until that changes and they acquire another asset that will provide them with readies, we will remain in their clutches.

      comment edited – as I’ve said before Carson may have been convicted but people must be careful how you refer to other people at BIH

  • Gerry says:

    To add to my previous post, anyone having any doubts that selling up to Paladini, Briatore will see us in the same boat in 2 to 3 years think again, the football league will make sure that whoever takes us over WONT be dodgy characters, the checks on any new potential owner would be fine tooth combed this time around

    • Agent McLeish says:

      Agree, IMO a Paladini/Briatore takeover will just swap one circus for another.

      • Gerry says:

        I can understand your concerns, but i dont think they will be bad and i do feel that, i also think now that whoever takes us over if anyone the fans will be wary and who can blame us ?. This regime needs to be rooted out because everyone knows now that there are some very dodgy characters involved, Yeung is just the start in a long long chain and it would not surprise me in the least if others are brought to justice

  • Art Watson says:

    Dan,

    I fully understand what you are saying but do you think any revenue generated by the club through gate money/commercial activity and sponsorship between now and the end of the season will actually benefit the club?

    Would you trust the current regime with your money?

    I certainly won’t.

  • AussieBlue says:

    The FT article makes interesting reading. They actually sent someone along to the address of the spurious ‘advertising company’ – it’s a doss house.
    The 12% acquisition MOU is NOT going to happen; it’s just more deceit upon deceit. Desperate men do desperate things and those in the cartel are desperately trying to retain control over BCFC. It’s now a house of cards but for so link as these jokers are running the club; the issues will get worse and more horrible secrets will be unveiled.
    I believe the FL should appoint a team of Trustees to take over the interim running of the club, its assets and its cash flows effective immediately. If that 8 million parachute gets into the greasy plams of the incumbent lot….goodbye 8 mill. There should be a lock-out of all connected to CY and BIHL; seizure of documents and maybe even Scotland Yard should get involved. Inaction is tantamount to supporting criminal activity.
    I truly believe the very existence of our club is threatened…if not today, tomorrow or the day after….or the next season….
    Thanks for the link to the FL complaints lady Bluenosesol…I’ll use it.

  • AussieBlue says:

    ‘so long’ not link. Bloomin’ auto-correct!

  • bluenose08 says:

    Dan have you read pannus latest statement in bham mail as he said he will answer questions from any fan who conducts themselves in a propped manner one to one. So no reason for him not to speak to you !

    • almajir says:

      Actually, I spoke to Pannu this morning (Hong Kong time) by phone. He was in a meeting and he couldn’t answer the questions I wanted to ask him, but he told me to send them in an email and he would get back to me – I’ve heard nothing as of yet.

  • rhees says:

    I have emailed the FL with my concerns
    everyone should do the same,
    surly they would have to listen.

    • chas says:

      Rhees, without being dismissive of your Post, have you ever read any of the Pompey fans Forums along the same lines ? The FL wont do anything.

      • rhees says:

        Your not dismissive chas your right but we can only
        try
        also in not fully aware of the pompy situation
        was there any criminal convictions cause that could make a difference
        possibly ??

  • jack1 says:

    Current fundraising: BIHL on face value seem have breached the listing rules of the Hong Kong Stock Exchange by not updating the market about the MOU. The deposit of HK$10m it appears was due 7 days after the announcement date and that 7 days expired yesterday. It would appear there could be an instance of Market Abuse by allowing shares to trade where the value does not reflect potential knowledge held by the BIHL. PP suggests in the article (FT) he was not privy to the details (address) of the deal but also seems to suggest he was not a party to the deal? Such governance appears to bring into question suitability issues as a director of a listed entity. Suggest OP write to the Enforcement Division of the Securities and Futures Commission in Hong Kong which regulates the Hong Kong Stock Exchange on these matters. To be fair to PP give him the chance to discuss the letter before sending to SFC.

    The article in the FT suggests questions about the potential investor. If the money comes in West Midlands Police I guess are paid by BCFC. Perhaps they should be made aware of the FT article before monies are received by WMP to ensure they are happy with matters.

    If the money does not come in write to the SFC in Hong Kong to ask why an announcement was made which the Directors do not seem to have been a party to as a board and/or why an announcement was made if the chances of successful completion were potentially remote. Again to be fair to PP give him the chance to contact you to discuss the letter before sending.

    • almajir says:

      Jack – I emailed PP today about it.

    • BillyBlue says:

      You can write to the SFC/HKSE in Hong Kong, whether or not the monies come through, about the breach in listing rules. This might not be the only breach.

  • dave mann says:

    the football league have already said that there not going to do anythimg because carsons
    got less than 30 % so dont start getting your hopes up that they will intervene, hes
    resigned hes not owner, chairman or a director so theres not a lot they can do or will
    do so lets move on!!!! KRO & DNM.

    • Agent McLeish says:

      Wrong, the FL rules clearly state that “The Owners’ and Directors’ test is concerned with ensuring that Clubs are not managed or controlled by individuals who may present a risk to the Club’s position.”
      This is further qualified by the fact that “The regulations also allow us to consider shareholders holding less than 30% if they are acting “in concert” with others and together they go over 30%”

      • rhees says:

        Well said mate and it should be pushed

        • BillyBlue says:

          Correct, all 4 of BCFC Directors have direct, and very close, links to Yeung i.e. son, brother-in-law, prospective brother-in-law and Pannu. It appears they have been appointed by Yeung and it is very unlikely that any of them would do anything without Yeung’s say so – that’s 100% control of BCFC.

          Investigation needs to made into the relationship between other major shareholders in BIHL and Yeung. It would seem unlikely that less than 13% (the amount needed to go over 30%) had close links to Yeung.

          Investigation needs to be made into Yeungs recent share dealings where he has sold shares that bring in HK$43.18m at the same time that BIHL announced proposed sale of 12% of BCFC for a sum of HK$45m to a mystery buyer. These dealings could be coincidence, but it wouldn’t surprise if they might possibly be connected and that Yeung himself could possibly be the 12% mystery man!

          How Yeung can still appear to be selling shares and dealing whilst his assets are frozen by the courts seems puzzling. Why the FL and HKSE are not at least investigating Yeungs dealings and conviction is equally puzzling. Mind you, the way Yeung has managed to live this fantasy life with no-one, up to now, challenging him, nothing should really be puzzling anymore.

  • StaffsBlue says:

    I know he’s not officially an “owner, chairman or a director,” dave…. but a rose by any another name, is still a rose. Well, you get my drift. ;)

  • dave mann says:

    you know that, i know that, we all know that but the league obviously dont, they could
    force him to sell is shares but i dont think there do that either…were see but i wouldnt
    hold your breath if i was you. KRO. & DNM.

  • jack1 says:

    Dan, focus PP and the board’s minds with the letter referencing going to the regulator of the HKSE. Also the FL will have to defend their position again if a group is delisted from a recognised stock exchange.

  • Paul Carter - The Voice of Reason he says:

    I don’t know whether to report the purchase as a potential crime to WMP.

    They’d have a duty to investigate then wouldn’t they?

  • Tony says:

    Dan, if the purchase of the club was done with dodgy money, would that not have breached uk law?. Therefore should the serious fraud offfice be investigating. assunibg they are not like their predesessors the infamous scs

  • BhamCityJulian says:

    Now that is proved we have a criminal that fronts BCFC the strategy of the Blues Trust should surely change to pressurising the football authorities, the police/CPS/SFO and HKSE to investigate for criminality within their domains.

  • Gerry says:

    Cant understand why the west midland police should be involved, this is not their matter in all honesty, it is obvious the deals were struck in the far east, i agree that the HKSE need to investigate and in truth they need to stop any more trading by BIHL, the dirty tricks are still happening in all reality, without naming names but the most prominent figure still at BCFC in the board room wont say anything bad about Carson Yeung in fear that his salary and bonuses will stop. I was wondering if the football league will place us under another transfer embargo not that we can sign anyone anyway in the current plight, if they do place us under the transfer embargo then surely its double standards because in theory they are punishing us for whats happened but wont investigate or get involved because Yeung owns less than 30%, I dont think administration would be a bad thing to be honest, it maybe our only way of getting this regime out of our club for good, something needs to be done and i do think this is the only way we will see something to remove them, BIHL, Pannu, Yeung and his cronies are not bothered about protests, giant flags etc it dont even make them flinch, someone needs to act fast to rid us of this cancer that holds our club down, we are on the biggest slippery slope into oblivion since the original Accrington Stanley was in 1962, Maybe Trevor Francis will be our saviour again one day, remember his words a few years ago BCFC have not seen the last of me, Come on TF save yours and ours beloved club before its too late


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